The Old Monied Dupont Nemours and Roosevelt families buy a tax haven

Find out why and how the former Dupont Nemours and Roosevelt families were able to buy 4,000 acres of waterfront property on Provindentcials Island in the tax-free Crown Colony (or “Overseas Territory”) of Turk and Caicos Islands for 1 cent per acre?

This 4,000-acre sale (now a marina and tourist town, with an airport for jumbo planes (the $ 50,000,000 airport was donated by the UK government) was reduced in the 1970s, not the one from 1870!?!?

Source: A full-page ad from the Turks and Caicos Government 3 in Investor’s Daily (1985).

Was this the most profitable real estate investment of the 20th century? A quarter-acre lot in the gated community of Sandyport here in Nassau, Bahamas, sells today for about $ 260,000. Lots of half-acre canals in Lyford Cay sell for about $ 1 million.

Do the math. With an initial investment of just $ 40, the 4,000-acre property could be worth nearly $ 4 billion today.

YOU BE THE JUDGE …. Is the use of the world’s tax havens a blessing or a harm? Before you respond, take a look at some of the IRS gaps in our “Tax Code”, which are discovered for viewing below and are buried within the tax law for taxpayers! There is a very important gap for non-resident foreigners that you should not overlook!

Turks and Caicos Islands

Located 575 miles southeast of Miami, Florida, in the warm aquamarine waters of the Caribbean Sea, the Turks and Caicos Islands (“TCI”) offer an unparalleled quality of life with all the necessary ingredients: a solid economy and government. and stable, central location, convenient international air transportation, modern sanitation facilities, low crime rate, friendly people and beautiful beaches. TCI is also a well-recognized and respected offshore financial center that offers a wide range of well-regulated financial services, from private banking to training and business management and trust.

The Turks and Caicos Islands are an archipelago of more than 40 islands that form the southeastern tip of the Bahamas range. There are two main groups, each surrounded by a continuous coral reef. Caicos is the largest group and includes Providenciales, Medium (or Large) Caicos and the islands of North, South, East and West Caicos, as well as numerous small keys, some of which are inhabited. The group of Turks, separated by a 35 km wide (22 mile) water channel, consists of Grand Turk, Salt Cay, and a series of small uninhabited cays.

All the islands are a summer paradise with some of the best diving in the world just minutes from the coast, especially on the islands of Grand Turk, Salt Cay and South Caicos. The islands benefit from an ideal tropical climate (an average annual temperature of 80 degrees F) and endless miles of sandy beaches.

In recent years, TCI has become one of the fastest growing economies in the Caribbean and is rapidly becoming a major tourist and diving destination where visitors and residents can enjoy a unique quality of life.

The islands were part of the United Kingdom’s Jamaican colony until 1962, when they assumed the status of a separate crown colony after Jamaica’s independence. The governor of the Bahamas oversaw affairs from 1965 to 1973. With the independence of the Bahamas, the islands received a separate governor in 1973. Although independence was agreed for 1982, the policy was reversed. and the islands remain British overseas territory.2