What Happens To Non-Resident Aliens Under The New Tax Code The Old Monied Dupont Nemours and Roosevelt Families Buy a Tax Haven

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The Old Monied Dupont Nemours and Roosevelt Families Buy a Tax Haven

You want to know why and how the old-money Dupont Nemours and Roosevelt families were able to buy 4,000 acres of waterfront property on the island of Provindentcials in the tax-free crown colony (or “overseas”) of the Turks and Caicos Islands for 1. cents an acre?

This 4,000 acre sale (now a port and resort town – with an airport for jumbo jets (the $50,000,000 airport was donated by the UK government) – in the 1970s – not the 1870s!

Source: Government of Turks & Caicos 3 full page advertisement 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 in Nassau, Bahamas is selling today for approximately $260,000. Half-acre canal lots in Lyford Cay sell for around $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 using the world’s tax havens a blessing or a curse? Before you answer, check out some of the IRS’s loopholes in “our tax code” – which you can see below and are hidden in the tax code for taxpayers! There is a very important loophole for the non-resident alien that you should not ignore!

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”) offers an unparalleled quality of life with all the necessary ingredients: a healthy and stable economy and government, a central location, convenient international air transportation, modern healthcare facilities, low crime, friendly people and beautiful beaches. TCI is also a well-known and respected offshore financial center offering a wide range of well-regulated financial services from private banking to company and trust formation and management.

The Turks and Caicos Islands are an archipelago of over 40 islands that form the southeastern end of the Bahamas chain. It has two main groups, each surrounded by a continuous coral reef. Caicos is the larger group and includes Providenciales, Middle (or Grand) Caicos, and North, South, East, and West Caicos, as well as a number of small islands, some of which are inhabited. The Turks group, separated by a 35 km wide (22 mi) channel of water, consists of Grand Turk, Salt Cay and several smaller uninhabited rocks.

Each of the islands is a vacationer’s paradise, with some of the best diving in the world just minutes from shore, especially Grand Turk, Salt Cay and South Caicos. The islands have an ideal tropical climate (average annual temperature of 80 degrees F) and endless miles of sandy beaches.

TCI has been one of the fastest growing economies in the Caribbean in recent years and is fast becoming a recognized tourist/diving destination where visitors and residents alike can enjoy a unique quality of life.

The islands were part of the British colony of Jamaica until 1962, when they assumed the status of a separate crown colony when Jamaica became independent. 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 by 1982, the policy reversed and the islands remained a British overseas territory.2

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