Retiring in the Turks and Caicos Islands as a French National: Residence, Taxation and Health

The Ministry of Immigration states that France is among the nationalities exempt from a visitor visa, but no “retiree” category is described on its pages or on those of Invest TCI. To settle, the Ministry handles several categories of residence permit (investor, home owner, own means, spouse); it announces up to 6 weeks of processing for the first three and up to 6 months for the spouse category when an interview or investigation is needed, and an appeal is possible within 14 days in case of refusal. The income conditions of the “own means” category appear on a scanned form that we could not read: they should be confirmed with the Ministry (infobordercontrol@gov.tc).

Invest TCI also describes a temporary residence permit, issued by the Employment Services Department, generally for one year at most, which allows you to reside without the right to work and allows the spouse and dependants up to age 18 to be endorsed. For a long-term stay, the permanent resident certificate (PRC) is obtained in particular by purchasing a home worth at least $1,000,000 (about €891,663), certified by the report of a licensed quantity surveyor; the Ministry also mentions $300,000 (about €267,499) for a “distressed property” in Grand Turk, Salt Cay, South Caicos, Middle Caicos or North Caicos. The applicant provides a letter stating that they do not intend to carry on paid activity, that they can support themselves and that their main residence will be in the territory. The conversions on this page are based on the ECB reference rate.

The fees are $25,000 (about €22,292) for the certificate, $150 (about €134) in non-refundable application fees, $1,500 (about €1,338) for the commitment certificate if the investment has not yet been made, and $200 (about €178) per endorsed person. The file includes a medical certificate and a criminal record less than six months old, two character references, the title deed and the occupancy certificate from the planning department. The endorsed spouse benefits from an endorsement valid for 11 years, renewable. The holder of a PRC may apply for naturalisation 12 months after receiving it, according to the Ministry.

The BOFiP list of tax treaties concluded by France, in force, does not include the Turks and Caicos Islands. The two States are linked by an agreement in the form of an exchange of letters on the exchange of tax information (signed in Paris on 18 September 2009 and in Waterloo on 5 October 2009, in force since 14 July 2011, decree no. 2011-1834): it organises cooperation between administrations without allocating taxing rights. It is therefore French domestic law that applies. Tax residence remains in France if the home or main place of stay, the professional activity or the centre of economic interests is there (article 4 B of the French General Tax Code); a single criterion is enough.

For a person whose tax home is outside France, French-source pensions are subject to withholding tax (article 182 A of the French General Tax Code). The base is the amount paid after a 10% allowance, and the scale applies 0%, 12% or 20% depending on income bands revised each year. According to the BOFiP, the 12% bracket is final for a non-resident, and the 20% withholding is credited against the tax due with a minimum rate of 20% (article 197 A). The Revenue Department lists no income tax among the taxes it administers, and Invest TCI indicates the absence of annual property tax, capital gains tax and tax on rental income: no local income tax is therefore added to this withholding on the basis of these sources.

CLEISS (the French centre for European and international social security liaison) specifies that a retiree who is no longer tax resident in France pays neither CSG, nor CRDS, nor Casa. If they still depend on a French scheme, a health insurance contribution is withheld from their pensions, at rates of 3.2% on the basic pension, 4.2% on the supplementary pension and 7.1% on self-employed workers' pensions. The guide on receiving your pension abroad recalls the procedures with the funds.

Form S1 is valid in the European Union and does not apply here. CLEISS asks the retiree to check with local institutions to what extent the local scheme covers their care, then to join the CFE voluntarily or take out private insurance. Three routes exist. The NHIP of the National Health Insurance Board has a “pensioner” category (holders of an old-age or equivalent pension) and a “voluntary contributor” category for legal residents who fall under no other; registration with the NHIP is compulsory for residents, even with private insurance, and the amounts for these categories can be read from the NHIB. A co-payment of about $10 (about €9) is anticipated for most services, with no deductible.

The second route is the CFE retiree offer, with a contribution depending on the country, age and family situation: it is reserved for people retired from a French basic scheme and with no professional activity, with no health questionnaire, with immediate cover if you join before departure or within three months of settling, then three months' waiting for those under 44 or six months for those over 45. The third is an international health insurance with medical evacuation, useful because the NHIP limits cover abroad to emergencies and essential services not available on the spot.

During a temporary stay in France, cover applies to holders of a French pension showing at least 15 years of insurance in France and with no professional activity; an accompanying spouse is not covered and must take out insurance before the stay. See the guide on retiree health insurance abroad and the page on healthcare reimbursement in the Turks and Caicos Islands.

The National Insurance Board pays a retirement pension from age 60 to insured persons with at least 500 contributions (ten years), of which 300 paid: this scheme concerns people who have contributed locally and adds no right to a French pension. A non-contributory pension is provided for elderly residents who do not meet these conditions, with 20 years of residence in the last 30 years; the NIB page gives two different ages (68 and 70), to be confirmed with the NIB.

The official sources publish no typical budget for a retiree. The Customs Department offers an online customs duty calculator to estimate the cost of a move or an imported purchase; the Revenue Department administers in particular a 12% accommodation and tourism tax, and Invest TCI specifies that a property purchase gives rise to a single stamp duty, with no restriction on foreign ownership. The “Economic benchmarks” block above gives updated inflation and exchange rate figures. The transaction currency is the US dollar.

No official source consulted ranks the islands by their appeal for retirees. A decisive criterion is proximity to care: the Cheshire Hall Medical Centre is in Providenciales, the Cockburn Town Medical Centre in Grand Turk, and the other islands have public primary care clinics. The emergency number is 911, and the Ministry of Health's EMS service provides medical evacuation. Hurricanes finally call for finding out about the robustness of housing, the shelters and the DDME alerts, and for checking your home insurance.

A retiree who registers on the roll of French nationals living abroad comes under the Consulate General of France in Miami (1395 Brickell Avenue), whose district includes the Turks and Caicos Islands; registration is valid for five years. No France Diplomatie (the French foreign ministry) “travel advice” page was found for this territory at the date of consultation. The guide on living in the Turks and Caicos Islands details the climate, schooling and formalities.

Service-public states that, for a return from a country outside the European Economic Area, a CFE member may keep their expatriate benefits for three months after their return, subject to conditions. A retiree not covered by a social security agreement, which is the case for the territory, can apply for universal health protection with form S1106 after three consecutive months of residence in France if they do not resume a job. According to the CFE retiree offer page, no waiting period applies on return to France and the retiree automatically returns to the general scheme. See the page on returning to France.