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Misick and Stanbrook

Owen Foley

Owen Foley

Partner

Misick and Stanbrook
Turks & Caicos

tel: +1 649 946 4732
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Local Time: Fri. 01:40

Profile


Education

Owen is a graduate of University College, Dublin.
Areas of Practice
Professional Career

Significant Accomplishments

The rebounding market for foreign direct investment in TCI as regional economies recover from the recession has seen Owen advise in the recent past on major new foreign investments in TCI, on agreements between those foreign investors and the TCI Government, and on related financing, joint venture and corporate structuring issues. In 2012 and 2013, Owen has acted as lead TCI counsel:
for a group of European investors in the acquisition out of receivership of the West Caicos hotel and mixed-use development;
for a Latin American investment group in the acquisition for resort development of the two last-remaining large commercial beachfront tracts on Grace Bay, Providenciales; and
in the negotiation of development agreements and letters-of-intent with the TCI Government for several large-scale resort and mixed-use commercial property developments throughout the Islands.

From time to time, Owen has sat on private sector committees consulting with the TCI Government on possible legislative changes and statutory initiatives, primarily in the financial and real estate areas. In the recent past, these have included input on a proposed wholesale modernisation of the Companies Ordinance, and on the enactment of legislation authorising fractional real estate regimes in TCI.

Professional Associations

  • International Bar Association
    Society of Trust & Estate Practitioners
Articles

Turks and Caicos Islands Enacts a New Trusts Ordinance
Misick and Stanbrook, December 2016

As a British Overseas Territory with no direct taxes, the Turks and Caicos Islands (TCI) has been an attractive domicile for trust establishment by high-net-worth individuals and their advisers for many years. However, in the recent past, with the Government’s focus firmly on developing TCI’s enormously successful luxury tourism industry, the updating of TCI’s non-regulatory legislation in the field of financial services had been a little neglected...

Additional Articles

He is the author of the Turks & Caicos Islands Chapter of the Trident Practical Guide to Offshore Trusts (Chancellor Publications, 1995).


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