The Aged Monied Dupont Nemours and Roosevelt Families Acquire a Tax Haven

Want to know why and how the previous monied Dupont Nemours and Roosevelt households ended up ready to acquire 4,000 acres of waterfront home on the island of Provindentcials in the tax cost-free, crown colony (or “Abroad 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 authorities) went down in the 1970’s – not the 1870’s!?!?

Source: A Turks & Caicos Govt 3 comprehensive site ad in Investor’s Each day (1985).

Was this the most profitable genuine estate financial investment of the 20th century? A quarter acre lot in the gated community of Sandyport here in Nassau, Bahamas sells for roughly $260,000 these days. Half acre canal loads in Lyford Cay market for about 1 million dollars.

Do the math. On an preliminary financial investment of just $40, the 4,000 acre property may be worth practically 4 BILLION bucks today.

YOU BE THE Judge…. Are the use of the world’s tax havens a blessing or a detriment? Prior to you respond to, see some of the IRS’s loopholes from our “Tax Code” – identified for your viewing beneath, and buried inside the tax regulation for the taxpayers! There is a very crucial loophole for the non-resident alien you should not ignore!

The Turks & Caicos Islands

Positioned 575 miles south east of Miami, Florida in the warm aquamarine waters of the Caribbean Sea, the Turks & Caicos Islands (“TCI”) present an unequalled top quality of life with all the required substances: a audio and secure financial system and federal government, a central location, practical worldwide air transportation, modern health treatment services, a lower crime fee, friendly men and women and gorgeous beach locations. TCI is also a nicely recognized and respected offshore money middle presenting a wide range of perfectly controlled fiscal services from private banking to firm and have faith in formation and administration.

The Turks & Caicos Islands are an archipelago of extra than 40 islands forming the southeastern conclusion of the Bahamas chain. There are two principal groups, each individual surrounded by a steady coral reef. Caicos is the larger group and involves Providenciales, Middle (or Grand) Caicos, and the islands of North, South, East and West Caicos, as well as many compact cays, some of which are inhabited. The Turks team, separated by a 35km-extensive (22-mile) channel of water, is composed of Grand Turk, Salt Cay and a quantity of modest uninhabited cays.

The islands are just about every a vacationers paradise with some of the very best diving in the earth minutes from shore, specifically on the islands of Grand Turk, Salt Cay and South Caicos. The islands reward from an best tropical weather (an typical annual temperature 80 F levels) and unlimited miles of sandy beach locations.

TCI has in modern years been just one of the quickest developing economies in the Caribbean and is speedily turning into recognized as a leading vacationer/dive destination the place people and inhabitants alike can delight in a exclusive excellent of life.

The islands were portion of the UK’s Jamaican colony until finally 1962, when they assumed the status of a independent crown colony on Jamaica’s independence. The governor of The Bahamas oversaw affairs from 1965 to 1973. With Bahamian independence, the islands obtained a individual governor in 1973. Although independence was agreed upon for 1982, the policy was reversed and the islands remain a British abroad territory.2