Buying property in Cayman
All property titles are guaranteed by the Cayman Islands Government and can be inspected.
There are no annual property taxes or capital gains taxes. There is only a one-time Stamp Duty payment. There are no restrictions on foreign ownership or repatriation of funds whatsoever. Property investment has traditionally been a very secure and stable investment.
The quality of construction in the Cayman Islands is extremely high. Buildings are concrete and steel structures.
The Cayman Islands is known the world over for its luxury accommodations, crystal-clear pristine waters and a world-class financial services industry. We have some of the finest amenities and oceanic environs that the Caribbean has to offer. Our real estate is no different.
An astute investor can truly find something to suit whatever their heart desires. This is not the only option though. Folks looking to carve out their own slice of tropical heaven needn’t worry-there is an attractive offshore investment for every buyer looking to access these beautiful Cayman Islands.
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 it’s first tourism-oriented developments in the 60’s and the 70’s. In the past 15 years, properties have averaged an annual increase in value exceeding 12%. High-end properties over US$2 million have seen even higher growth.
Buying property in Cayman
Grand Cayman is truly a jewel of the Caribbean and an idyllic place to own a property, with no annual property or income tax payable throughout the Islands. Cayman boasts a very strong rental market which also makes it the perfect place to invest.
Our experts at Cayman Island Properties can help guide you through the process of investing in Cayman. With over 40 years of experience in selling Cayman Real Estate we can help you find the best property to suit all your requirements.
Moving to Cayman
Moving to Grand Cayman is relatively easy with daily flights from the US to Owen Roberts International Airport as well as direct flights from the UK, Jamaica, Canada, Honduras and Cuba. Cayman Airways is the national airline however, there are many other airlines that offer flights to Cayman including British Airways, American Airlines, US Airways, Air Canada and Delta.
Although Grand Cayman is a small Island, it is known for being extremely cosmopolitan boasting first class amenities with a wide selection of world class restaurants, fast food chains and supermarkets that stock a multitude of international foods, catering to its multi-national residents.
One thing to keep in mind when moving to Cayman, is that the cost of living is considerably higher than in the US and UK.
There is a public bus service offered on Island but it is not always reliable so most residents depend on personal vehicles to get about. As in any country, traffic can become quite congested during rush hour periods and you will need to allow for extra time when travelling to and from work.
Another major factor to consider when moving from cooler climates is the year round sunny climate and humidity of the summer months. Rainy season is from June through November and although in recent years it has been considerably dryer the rain can be heavy at times and cause flooding in lower lying areas.
All in all, Cayman is truly a wonderful place to live with crystal clear waters, pristine beaches and the warmth and welcome of the Cayman community. Cayman also boasts one of the lowest crime rates in the World.
Working in Cayman
Although Grand Cayman is most famous for being a banking,and financial center, its booming tourist industry also offers a host of employment opportunities.
Expatriate workers are required to obtain a work permit which is applied for by the Company offering employment. Temporary work permits applied for on an express basis for up to a six month period are generally granted within a matter of days however, full term permits can take up to 3 months to process. If you are planning to bring family members as dependants then a separate application will need to be made on their behalf.
Things to do in Cayman
Cayman offers a host of activities for visitors and residents alike, both on land and on water.
Boasting some of the best snorkeling and diving sites in the World and a wide variety of water sports activities, you are spoiled for choice. Cayman is also famous for the unique experience offered by Sting Ray City, the only place in the World where you can interact with Sting Rays in the beautiful clear waters of the Sand Bar.
Cayman is known for having a very cosmopolitan feel, especially in the Seven Mile Beach area which is extremely popular with tourists. As well as having many sporting facilities across the Island, there are also several golf courses for residents and visitors to enjoy.