Member Article

Outside the work permit regime, there are two possible types of residency in TCI-

a. Permanent residency (which frequently comes with the right to work);

b. Shorter term residency.

Permanent residency is now available only to those who have lived and worked in TCI for a stipulated period. Previously such residency was available to individuals who made a specific level of investment in TCI: since September 2012, that is no longer the case.

The two most germane types of shorter term residency are:-

a. Non-investment short-term residency where the applicant:-

(i) owns, rents or has available for his use a house, condominium or apartment in TCI;

(ii) does not intend to engage in any gainful occupation; and

(iii) can maintain himself and his dependents for the duration of his residency without engaging in gainful occupation.

This type of residence permit may be granted for a period between 1 and 3 years (and on the expiration of that period, is readily renewable under current rules). There is a non-refundable Government application fee of $150.00 with a basic annual fee payable to Government of $1,500.00. There is a once off additional fee of $150.00 in respect of each person (spouse and dependent children) who are endorsed on that residence permit.

b. The second type is investment short term residency

A person (i) who has invested not less than $500,000.00 in a business or home for himself on Providenciales, its outlying cays or West Caicos (or half that sum on a business or residence elsewhere in TCI), (ii) who does not intend to engage in any gainful occupation (other than undertaking such activities that are necessary to oversee his investment) and (iii) who can maintain himself and his dependents in the islands without engaging in any gainful occupation other than overseeing his investment, may obtain a residence permit for up to 10 years.

The application fee, the annual fee and fee for endorsement of dependents is the same as in the previous category.

In essence, by virtue of his having made the required investment the applicant can get his residence permit at the outset for a period of up to 10 years (instead of 3) and the limitation on gainful occupation is not as broad: the applicant can take such steps as are necessary to oversee his investment.

In each instance there is an application form which must be submitted, along with:-

a. The stipulated Government fees;

b. Two recent passport-size photographs of the applicant;

c. Evidence of the applicant’s financial standing;

d. Evidence of the applicant’s good character;

e. Evidence of the applicant’s good health;

f. Evidence of the investment.

From time to time, the Immigration Department, as a matter of policy requires the submission of additional documentation: check with us.