Grand Turk MSME Vacation Rental Programme is off to Good Start

Providenciales, Turks and Caicos Islands February 7^th, 2022 – October 2021 saw the launch of the Grand Turk Vacation Rental Programme, whereby the Ministry of Tourism announced a registration drive to support entrepreneurship within the tourism sector through the allocation of grants provided by Invest TCI.

To increase the bed capacity on the island of Grand Turk, the Government invited persons with vacant or partially occupied homes to register for the programme, which will allow them to receive Government assistance to upgrade their rooms/homes to enter the vacation rental market.    

To date, the programme has been well received, with eighty-six (86) potential applicants representing two hundred and forty-nine potential rooms (249) registering their interest in participating in the programme.

The application and approval process is now underway, with a total of $46,000 having been paid out already. 

Commenting on the programme, the Minister for Tourism, Honourable Josephine Connolly, stated, “We are pleased with the response from the community of Grand Turk. As we aim to attract international airlifts to the island, we want to ensure that the residents can capitalize on the increased tourist arrivals and benefit from tourism activities. We encourage the residents of Grand Turk to take advantage of this opportunity and to apply for this Invest TCI programme grant.”

The Hon. E. Jay Saunders, Deputy Premier and Minister of Finance, Investment and Trade, commenting on the programme, stated, “The Grand Turk Vacation Rental Programme is a great initiative, and my Ministry, through Invest TCI, is committed to ensuring the success of this programme. I’m delighted that the first set of applicants has been approved, with more approvals coming shortly. If there’s anyone in Grand Turk who wants to benefit from this programme and who has spare rooms or unused properties, I encourage you to contact Invest TCI to get started.”

Grant recipient Beverly Harvey expressed that she was grateful for the assistance and excited about progressing her short-term rental business. Ms. Harvey stated, “My experience working with Invest TCI and the CED in Grant Turk was awesome. I’ve learned a lot working on my business proposal, and the help offered by Ms. Wendy Bovell in the Grand Turk CED office was invaluable. You are not alone in the process, and there is guidance along the way.”

Grand Turk residents interested in applying for assistance are advised to visit the CED office in Grand Turk, call Invest TCI’s office at 338 4773 or visit the website at www.investturksandcaicos.tc/msme for more information.

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About Invest Turks and Caicos

Invest Turks and Caicos is the Islands’ Investment Promotion Agency, responsible for enhancing the economy through the attraction, growth and retention of overseas investment; and supporting the growth of local businesses.

We provide a free and confidential service to overseas businesses looking to expand and will work with a company project team throughout the investment process, providing advice and support. This can include:

• Information on the local business climate;
• facilitating contact with relevant Government Departments throughout the investment process;
• advice on Government incentives and concessions to investors;
• introductions to local service providers/suppliers;
• advice on work permits and permanent residency procedures;
• ongoing support following set up.

We also work actively to support the growth of local businesses, including the management and delivery of the Micro Small and Medium Enterprise programme which provides concessions and reliefs to locally owned businesses.