The rebounding market for foreign direct investment in TCI as regional economies recover from the recession has seen Owen advise in the recent past on major new foreign investments in TCI, on agreements between those foreign investors and the TCI Government, and on related financing, joint venture and corporate structuring issues. In 2012 and 2013, Owen has acted as lead TCI counsel:
- for a group of European investors in the acquisition out of receivership of the West Caicos hotel and mixed-use development;
- for a Latin American investment group in the acquisition for resort development of the two last-remaining large commercial beachfront tracts on Grace Bay, Providenciales; and
- in the negotiation of development agreements and letters-of-intent with the TCI Government for several large-scale resort and mixed-use commercial property developments throughout the Islands.
From time to time, Owen has sat on private sector committees consulting with the TCI Government on possible legislative changes and statutory initiatives, primarily in the financial and real estate areas. In the recent past, these have included input on a proposed wholesale modernisation of the Companies Ordinance, and on the enactment of legislation authorising fractional real estate regimes in TCI.
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