TCI Government has recognized that in a service driven economy there is a need for a trained, qualified and experienced workforce in order to maintain growth and sustain a competitive advantage in the delivery of goods and services which include technical know-how, formulation of policy, design, management and the evaluation of projects and programs. Recognizing this need, Government has taken a proactive approach by moving towards a modern, robust and comprehensive Human Resource Development, Management Policy and Strategy.
A number of trained, qualified and highly motivated young Turks and Caicos Islanders are returning home, bridging the gap created by the lack of indigenous human resource capacity in both the public and private sector.
The Turks and Caicos labour force currently consists of 12,000 persons. Belonger population accounts for 34% and Expatriate population 66%
The 12,000 strong work force is distributed as follows...
15% Professional
12% Semi-Skilled
20% Skilled
53% Unskilled / Manual
Attracting quality investments that create a sustainable economy for the Turks and Caicos Islands is a major objective of the TCI Government. TCInvest (Turks and Caicos Islands Investment Agency) an independent agency in the islands with a mandate to attract new offshore investment, encourage entrepreneurship amongst the residents and provide financing to the local population.
TCInvest became fully operational in 1995. Since then TCInvest has responded to enquiries, been involved in investment proposals and negotiated agreements with investors. These projects include: several hotel resort complexes, expansion of the world's only commercial conch farm, establishment of a brewery facility, development of craft cooperatives, opening of an aircraft parts manufacturing concern and erection of a hydroponic garden.
TCInvest provides that vital bridge between the investor and government in facilitating the presentation of new development opportunities by:
Advising and assisting potential investors on investment opportunities and policies
Screening new investment projects for suitability, feasibility, and quality of investor finances
Liaising through Government channels to facilitate timely consideration of investors proposals
Negotiating joint ventures and development agreements with investors wishing to access the TCI Government's investment incentives.
Identifying and promoting investment opportunities in TCI
Providing advice and assistance to the TCI Government on investment policies.
Wise investors come to TCInvest first because the Agency creates a "single window" for prospective investors and makes them aware of the TCI Government's "Open Arms" investment policy.
The "Open Arms" investment policy begins with the obvious advantages of the country's no tax status, an efficient administrative system and an attractive package of concessions to qualified investors.
The investment policy provides a clear set of commitments by the Government on their investment approach which includes:
a streamlined business licensing system,
a responsive immigration policy to give investment security,
access to government owned land under long term leases
at reasonable rates and
a variety of duty concessions to reduce the costs of starting a new venture.
The "Open Arms" investment policies are clearly outlined and updated on the tcinvest.tc website and in a publication called "Doing Business in the Turks and Caicos Islands" which is available on request.
Local Investment
To ensure that TCI's resident population is given the maximum opportunity to participate in development, TCInvest also provides financial capital and expertise to islands residents wishing to establish or expand a business with its own Small Enterprise Development Center and Banking facility. TCInvest provides business information, advice and training to local entrepreneurs and debt financing to suitable locally controlled projects as well as mortgages and scholarship loans.
By enabling the population to access such significant financial and educational resources, TCInvest has cultivated an increasingly harmonious business environment where partnerships can flourish and local human resources are skilled and professional. The agency has, in partnership with Government, worked hard to create a vibrant local and sustainable economy.
Our Profile
Established in 1995
Mandate “to attract and facilitate economic investment to the Turks
and Caicos Islands
Fully staffed qualified investment and financial personnel
International offices in New York and London
Developed proposals and negotiated hundreds of agreements for investors
What Next?
The Turks and Caicos Islands has great investment potential. The horizon is indeed bright for businesses here and those seeking to invest here.
Further information on TCInvest email us at tcinvest@tciway.tc or tcinvestpls@tciway.tc ,to set up a meeting or conference call contact TCInvest on 649 946 4804 / 649 941 8465. TCInvest staff are happy to discuss ideas and assist investors to be successful in the Turks and Caicos Islands.
