The victim was taken by helicopter to Fort Lauderdale, where he is in the hospital.
Officials in Turks and Caicos say the 57-year-old man was attacked by masked gunmen Friday night inside his vacation rental home.
The home's security guard had been tied up with his own shoelaces during the incident.
The incident comes a little more than a month after a man from Alabama was shot during an armed robbery in Turks and Caicos.