Want to know why and how the previous monied Dupont Nemours and Roosevelt families have been capable to get 4,000 acres of waterfront assets on the island of Provindentcials in the tax free of charge, crown colony (or “Overseas Territory”) of the Turk and Caicos Islands for 1 cent an acre?
This 4,000 acre sale (now a marina and vacation resort city – with an airport for jumbo jets (the $50,000,000 airport was donated by the British isles federal government) went down in the 1970’s – not the 1870’s!?!?
Resource: A Turks & Caicos Govt 3 entire web page advertisement in Investor’s Day by day (1985).
Was this the most successful actual estate investment of the 20th century? A quarter acre lot in the gated community of Sandyport right here in Nassau, Bahamas sells for roughly $260,000 today. Fifty percent acre canal plenty in Lyford Cay sell for about one particular million pounds.
Do the math. On an original investment of just $40, the 4,000 acre home could possibly be truly worth almost 4 BILLION pounds now.
YOU BE THE Choose…. Are the use of the world’s tax havens a blessing or a detriment? Ahead of you response, see some of the IRS’s loopholes from our “Tax Code” – identified for your viewing below, and buried inside the tax legislation for the taxpayers! There is certainly a pretty essential loophole for the non-resident alien you must not forget!
The Turks & Caicos Islands
Located 575 miles south east of Miami, Florida in the warm aquamarine waters of the Caribbean Sea, the Turks & Caicos Islands (“TCI”) supply an unequalled high quality of lifestyle with all the required elements: a seem and stable economic system and federal government, a central spot, easy worldwide air transportation, contemporary well being care facilities, a lower criminal offense rate, pleasant men and women and gorgeous shorelines. TCI is also a properly regarded and highly regarded offshore fiscal center presenting a broad assortment of effectively regulated fiscal products and services from non-public banking to business and rely on development and administration.
The Turks & Caicos Islands are an archipelago of more than 40 islands forming the southeastern conclude of the Bahamas chain. There are two principal groups, each and every surrounded by a steady coral reef. Caicos is the greater group and incorporates Providenciales, Center (or Grand) Caicos, and the islands of North, South, East and West Caicos, as well as quite a few small cays, some of which are inhabited. The Turks team, divided by a 35km-large (22-mile) channel of h2o, is made up of Grand Turk, Salt Cay and a variety of little uninhabited cays.
The islands are every single a vacationers paradise with some of the finest diving in the environment minutes from shore, especially on the islands of Grand Turk, Salt Cay and South Caicos. The islands benefit from an excellent tropical local climate (an normal once-a-year temperature 80 F degrees) and endless miles of sandy seashores.
TCI has in the latest a long time been one particular of the speediest increasing economies in the Caribbean and is swiftly turning into recognized as a leading tourist/dive vacation spot where site visitors and citizens alike can enjoy a unique high-quality of everyday living.
The islands have been aspect of the UK’s Jamaican colony till 1962, when they assumed the status of a different crown colony on Jamaica’s independence. The governor of The Bahamas oversaw affairs from 1965 to 1973. With Bahamian independence, the islands gained a separate governor in 1973. Although independence was agreed upon for 1982, the coverage was reversed and the islands keep on being a British abroad territory.2