The natural beauty of Cayman combined with a stable government, affluent population and sophisticated infrastructure has contributed to one of the region’s strongest real estate markets. Grand Cayman has provided long-term sustainable growth since its first tourism oriented developments in the 60s and the 70s. In the past 15 years, properties have averaged an annual increase in value exceeding 12%. For the highest end properties currently valued at over US$2 million, the annual increase in value is even higher.

The Cayman Islands impose no direct taxes – no property, inheritance, gift, corporation, capital gains, value added, sales or income taxes whatsoever. The only duty real estate buyers are required to pay is a one time stamp duty (currently 7.5 % of the purchaser price along Seven Mile Beach/West Bay Road corridor and 5% in all other areas and districts) within 45 days of closing for transfer of title.

All land in the Cayman Islands is recorded in a single registry. The land registry is maintained by the government which effectively guarantees title, so title insurance is not necessary.

The Cayman Islands is the fifth largest financial center in the world. It is well known for its abundance of banks, and is a major center for hedge funds, mutual funds and captive insurance. In the past decade the Cayman Islands has diligently worked to enhance its reputation as a professional, well-regulated jurisdiction and has enacted anti-money laundering legislation. Property purchaser may still choose to keep their ownership private. Properties may be held in easily set up Cayman corporations or trusts, keeping beneficial ownership confidential. There is no restriction on foreign purchasers’ setting up a corporation or trust. The Confidential Relationships (Preservation) Law makes it a criminal offense to divulge information given in confidence to financial or legal profession (except in the case of criminal activity).

It is a simple matter for property owners to apply for permanent residency, which allows you to spend unrestricted time in the Cayman Islands. The only requirements are property ownership exceeding US$200,000.00, a one time fee of approximately US$18,000.00, a clean police record and strong bank and personal references. Grand Cayman boasts a vibrant community of both full and part-time residents who are successful businesspeople, investors and entrepreneurs, and the Islands encourages residency applications.

The Cayman Islands, a UK Overseas Territory enjoys a high degree of political, economic and social stability with an elected government of a Cabinet and Legislative Assembly, together with a Governor appointed by the HM The Queen.

Cayman is a thriving international financial center, home to the world’s leading banks, investment agencies, law and accounting firms. As well as being a center for international business, Cayman boasts world class tourist facilities and has a highly successful tourism industry that enjoy the wonderful beaches, restaurants, shopping, coral reefs and other attractions.

Contact Malin at 943-9400 to discuss how we can serve your specific needs.

 MLS #: 089956
 Price: US $2,500,000.00
 Status: Active !
 Type: Cayman Developmental Properties
 Year: 0

Cayman Property Description:

enient location of this condo complex and unit in complex, with minimal travel time to all surrounding amenities, schools and George Town. Great screened patio overlooking the gardens and pool. Three story condo with large rooms, solid construction along with hurricane shutters and upgraded kitchen. Comfortable living. Owner wants this unit sold!
Location: Spotts     Block: 25B     Parcel: 526H10
Construction: Stucco     Class: Under-Construction     Beds: 3
Baths: 2.5     Floor: 3     View: Pool View

Why Grand Cayman is so attractive

In view of the turquoise water on one side of Grand Cayman appeals to a lot of tax and financial benefits. Expatriates are free to open bank accounts, borrow money and buy real estate. The Cayman government has not the wealth, which means that the capital gains, income, wealth and inheritance taxes. Mortgage interest is deducted from the income tax in most countries, including the U.S., the Cayman government’s strict privacy laws, to ensure that financial information is safe.

The most luxurious apartments Grand Cayman undermine the tax advantages, but most foreign investors can easily buy the house directly. Mortgage companies outside the Cayman Islands real estate loans are generally not in the Cayman Islands, because the company would not have legal recourse if the loan is in default. For this reason, many mortgage companies and banks to lend to foreigners and have experience in handling transactions, irrespective of the nationality of the buyer in the country

Buying property in Grand Cayman

Once the sale is not a one-off payment of 5.7 percent of assessed value of the house to fix the title. The stamp duty from 1 to 1.5 percent, it is necessary to buy homes mortgage. Like many homeowners in Grand Cayman value of privacy, many people buy a house in the name of a company that is registered in the Cayman Islands, to keep his name off the title.

As you can see, there are certain restrictions on investment in the luxury life in Grand Cayman. Although most investors use their homes in the Cayman Islands as a second home or vacation house, I want to ask some foreigners Thurs taken permanent residence in Iceland. More categories to consider the government to obtain permanent residency, including the wealthy retirees, entrepreneurs and investors in residence for 25 years. A recently approved bill granting a certificate of residence for companies to attract wealthy investors in the Cayman Islands. The cost of the certificate is $ 24,000 (USD), and allows the investor, spouse and dependents living in Iceland without a work permit. The requirements that a net worth of $ 6 million (KYD) $ 2,400,000 investment (KYD) a licensed company, which is 50 percent of the domestic workforce, such as the Cayman Islands and a criminal record in his homeland.

The islands attract wealthy investors due to tax benefits and privacy laws, but the main attraction is always the calm and beauty of the islands – a life of luxury at its finest.