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There are no real estate taxes or duties payable on Cayman Islands Real Estate or other assets held in the Cayman Islands. Tax free real estate, along with the beauty and security of Cayman Islands investment opportunities makes the Cayman Islands the best real estate investment property destination anywhere in the Caribbean.

More Cayman Islands Real Estate information:

Cayman Islands Real Estate Agents

Cayman Real Estate Laws and Regulations

Benefits of Real Estate in the Cayman Islands

Real Estate in the Cayman Islands:
" A Sound Investment"
By: Lynn M. Bodden, LL.B (Hons.)

The Island – One of Cayman’s Hottest Real Estate Opportunities

Book Your FREE Grand Cayman Boat Real Estate Tour Now

Real Estate Tip: The single most important factor in starting your journey on the road to investing in Cayman Islands Real Estate is finding a knowledgeable trusting realtor who will work in the buyer’s best interest. We highly recommend contacting Bill Baldwin at RE/MAX for access to all available Cayman Islands properties.

Cayman Islands Real Estate Agents:

After a comprehensive evaluation, we have selected who we consider to be the most buyer friendly—especially for visitors, Cayman real estate agents to act in your best interest and guarantee you the absolute highest value for your real estate purchase in the Cayman Islands. Much more than a Cayman real estate agent, the Cayman real estate individuals we recommend are close friends who we have known and trusted for over a decade. By simply mentioning Activity Guide and contacting our Cayman real estate agents, you can be assured of access to all available Cayman Islands properties at the absolute highest value that a vistor will find anywhere in the Cayman Islands.

Cayman Islands Real Estate Agents

Cayman Real Estate Laws and Regulations

Benefits of Real Estate in the Cayman Islands

Real Estate in the Cayman Islands:
" A Sound Investment"
By: Lynn M. Bodden, LL.B (Hons.)

The Island – One of Cayman’s Hottest Real Estate Opportunities

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Bonus Tip: Tell Bill that you were referred by Activity Guide and request a scenic yacht tour of Cayman Islands real estate from the beautiful perspective of the surrounding ocean.

Benefits of Cayman Islands Real Estate:

The future for the market in Cayman looks extremely promising and will continue to offer a safe and secure long-term investment for individuals seeking invest opportunities in Cayman Islands real estate. The Cayman Islands government has made reductions in the level of stamp duty, which can afford even higher value for Cayman Islands Real estate buyers. The Cayman Islands continue to experience significant improvements in infrastructure such as roads, schools, healthcare and technology. With such factors as a safe stable community, tax benefits, state of the art communications, and a beautiful tropical location, Cayman real estate offers a safe and lucrative investment.

The Cayman Islands have always enjoyed a thriving economy. Tremendous growth in population and tourism causes great success in investments, making investing in the Cayman Islands the most profitable destination in the Caribbean. A major factor that makes real estate investment so popular is that there are no property taxes whatsoever. With no direct taxation, the islands are a thriving offshore financial center.
One major advantage of doing international business in Cayman is that the technological resources in all ventures relating to global finance are readily among the highest in the world.

Few other international financial centers come close to matching Cayman’s professional resources. British Dependency status assures investors of the Islands stability and Cayman is signatory to international treaties and conventions and attracts the world’s most respected firms and investors. The Cayman Islands real estate market is equally attractive to those looking for an overseas holiday get-away, or a retirement residence. For foreign investors, it can offer a solid capital return on their investment, as well as the chance to own a secluded piece of the most upscale and safe destination in the entire Caribbean. The Cayman Islands Real Estate Broker’s Association must adhere to strict rules and regulations. The Cayman Islands uses a Multiple Listing Service system similar to that of the US and Canada. The association publishes a magazine of listings, which can be obtained free of charge from CIREBA. There are a wide variety of investment opportunities in the Cayman Islands from studio condos to ocean front estates, ranging from a small, secluded Caymanian cottage in the sparsely populated east end to a lavish Oceanfront Condominium on the world famous 7-mile beach.

Time Shares or Interval Ownership are other popular forms of investment in the Cayman Islands. For as little as US$15,000 you can purchase a week of vacation time in the Cayman Islands for the rest of your life!

Financing is available through numerous banks on the island – indeed, the Cayman Islands are the fifth largest banking center in the world. Because of the presence of so many financial institutions in the Caymans, mortgage lenders are abundant and rates are competitive. Many loans are written for shorter terms of 10 and 15 years, versus the traditional 30-year loans that are commonplace in other markets.

Residential Property
The Cayman Islands offer many incredible residential properties. The Cayman Islands have become a very attractive location for vacation and rental home properties, affording high value on relaxation and adventure. Locations in the Cayman Islands include beach front properties, ocean front properties, inland and ocean view real estate. Like everywhere else, real estate prices in the Cayman Islands fluctuate wildly depending on location. Ocean front homes offer breathtaking views of the ocean and price out at the upper end of the scale.

Commercial Property
The Cayman Islands are home to literally thousands of financial and lending institutions including large corporations. Many are registered and licensed in the Cayman Islands while others maintain headquarters or satellite offices in the Cayman Islands. Compared to other Caribbean real estate destinations, commercial real estate in the Cayman Islands is largely comparable to any major city in the United States.

Development Property
Grand Cayman, Little Cayman and Cayman Brac have enjoyed steady real estate growth in development and building over the last twenty years. Condominiums, subdivisions, residential units, and commercial properties are proliferating throughout the Cayman Islands, with no indication of slowing down. Cayman Islands real estate developments offer convenience, comfort, lifestyle and amenities comparable to any major US city.

Cayman Islands Real Estate Agents

Cayman Real Estate Laws and Regulations

Benefits of Real Estate in the Cayman Islands

Real Estate in the Cayman Islands:
" A Sound Investment"
By: Lynn M. Bodden, LL.B (Hons.)

The Island – One of Cayman’s Hottest Real Estate Opportunities

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Cayman Islands Real Estate Market:

The real estate market in the Caymans is a unique one affected by the international impact of competition for a share of the small island paradise. Retirees, expatriates, locals, and holiday seekers all want a piece of the pie, and the Caymans attract major corporations and individual investors alike. Lucrative income from vacation property rentals, short and long term capital gains potential, and the absence of traditional real estate taxes make the Caymans a magnet for real estate dollars from all over the world.

Well over half of all properties in the Caymans are owner-occupied. There are no restrictions on foreign ownership of real estate, and a modern land registration system is run by the Government’s Department of Lands and Survey. The only additional charge besides legal transaction fees is a very reasonable one-time stamp duty is payable on transfers. The Cayman Islands have the most modern and stringent building codes in the Caribbean and the quality of workmanship is among the highest in the world. Dade County, FL building codes were the foundation for formulating Cayman’s codes, which are of a much higher standard. Cayman’s Building Control Department supervises building codes and inspections of such things as building sites, plumbing, and electrical work. Because construction materials have to be imported, costs per square foot are considerably higher than they are in other places where materials are readily available.

With no direct taxes, no property tax, no capital gains tax, no inheritance taxes, no income tax, no non resident tax and no sales tax the Cayman Islands provide a lucrative tax-sheltered vehicle for your future. There are absolutely no restrictions on foreign ownership of real estate in the Cayman Islands and ownership can be held in one or more names of individuals or in a corporation, which does not reveal actual ownership. The Cayman Islands has a stable government, sophisticated infrastructure and a strong economy based on international banking and tourism and there is absolutely no reporting of income or ownership to any government agency.
Caymanians enjoy one of the highest outputs per capita and one of the highest standards of living in the world. Additionally, the Cayman Islands enjoy the lowest crime rate in the entire Caribbean!

The single most important factor in purchasing real estate in the Cayman Islands is finding a trusted real estate professional. Real estate transactions in the Cayman Islands are handled quite differently than in the US, making it essential to have a trusting and knowledgeable individual representing you. We highly recommend Bill Baldwin at Re/max for all areas of the Cayman Islands. Bill is an agent of unquestionable integrity, superior knowledge of the Cayman Islands real estate market and Cayman Islands real estate laws. Bill works in the buyer’s best interest, which is your first step towards a safe, uncomplicated and rewarding investment in the Cayman Islands. Contact Bill Baldwin and tell him you were referred by Activity Guide.

Cayman Islands Real Estate Agents

Cayman Real Estate Laws and Regulations

Benefits of Real Estate in the Cayman Islands

Real Estate in the Cayman Islands:
" A Sound Investment"
By: Lynn M. Bodden, LL.B (Hons.)

The Island – One of Cayman’s Hottest Real Estate Opportunities

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Real Estate in the Cayman Islands
A Sound Investment
By: Lynn M. Bodden, LL.B (Hons.)
TEP Attorney-at-Law Partner of Bodden & Bodden,
Attorneys–at–Law
Grand Cayman, Cayman Islands

As a result of global recession and volatile stock markets, the Caribbean may now be the region of choice to many travelers and the Cayman Islands seems to be the topic of conversation among investors because of the geographical location, sound infrastructure, safety and stable judicial system. Many knowledgeable investors have turned to the real estate market particularly in the Cayman Islands, where there are no property taxes or direct taxation.

Government revenues are derived from a one time stamp duty on property sales, import duties, government licenses and fees. The infrastructure is of first world-class stature, telecommunications are state of the art, and air carriers provide dependable service to North America and Europe.

Real Estate may be purchased by individuals over the age of 18 or through a Corporate Entity. There are three main types of Cayman Islands Corporations: Ordinary Resident Company, Ordinary Non-Resident Company and Exempted Company. The later two are the most popular for land holding companies; however they may not carry on business in the Cayman Islands. A land holding exempted company is prohibited from issuing bearer shares and permission to own land is required from the Financial Secretary. A Non-Resident Company is usually limited by shares and shares may be issued in registered form or in nominee form. A record of the shareholders must be filed with the Registrar of Companies.

The offshore investor may prefer the Exempted Company because the Governor in Executive Council guarantees that the Company will be exempted from any future taxes levied in the Cayman Islands for a period of 20 years and may be extended for a further period of 10 years for a total of 30 years. Also, the shareholders are not recorded at the Registrar of Companies.

There are several benefits to be gained by purchasing Cayman Islands real estate through a corporate entity. When Cayman Islands properties are registered in a name of a company the company name will appear on the land register rather than in the name of the individual. This will provide the investor with confidentiality and limited liability. The company is managed by a Cayman Islands registered office such as Bodden Corporate Services and all of the statutory requirements are dealt with the by Company’s Registered office for ease of management.

Many registered offices provide nominee directors and shareholders. Property held by a company may be owned by a trust, for investors with estate planning requirements. The trust will own the shares in the Company, which in turn owns the property. Whether property is purchased individually or through a corporate entity, real estate in the Cayman Islands can be a sound and profitable investment because Cayman offers opened ended real estate opportunities.

The Cayman Islands are truly the “Gem of the Caribbean”

Real Estate in the Cayman Islands A Sound Investment
By: Lynn M. Bodden, LL.B (Hons.) TEP
Attorney-at-Law Partner of Bodden & Bodden,
Attorneys–at–Law
Grand Cayman,
Cayman Islands

Cayman Islands Real Estate Agents

Cayman Real Estate Laws and Regulations

Benefits of Real Estate in the Cayman Islands

The Island – One of Cayman’s Hottest Real Estate Opportunities

The Island – One of Cayman’s Hottest Real Estate Opportunities:

Preview The Island
Grand Cayman’s newest deluxe resort and condominium property.

A once in a lifetime investment opportunity!

You can easily take advantage of these and the many other benefits of doing business in the Cayman Islands by contacting Cayman National Bank. They are a well established and highly trusted financial services group providing a full range of services to their domestic and international customers.

Cayman Islands Real Estate Agents

Cayman Real Estate Laws and Regulations

Benefits of Real Estate in the Cayman Islands

Real Estate in the Cayman Islands:
" A Sound Investment"
By: Lynn M. Bodden, LL.B (Hons.)

The Island – One of Cayman’s Hottest Real Estate Opportunities

Top of Page

Cayman Islands Real Estate Laws and Regulations:

The availability of technology and services, fair and modern regulation of business activities, and the absence of direct taxation have helped make the Cayman Islands one of the largest financial and business centers in the world. Given these factors, it is not surprising that the Cayman Islands also has an active real estate market. This article provides a brief overview of the legal and practical aspects of buying and selling real estate in the Cayman Islands. However, it is not intended to deal exhaustively with all aspects of the subject and proper legal advice should always be obtained before entering in to any real estate transaction.

The Land Registry System As an overseas territory of the United Kingdom, the Cayman Islands enjoys a political stability which may not be present in other locations in the Caribbean. To protect ownership interests in land, there is a Land Registry System maintained by the Government of the Cayman Islands and governed by the provisions of the Registered Land Law (1995 Revision) (the "Law"). The Law creates a Land Register which contains a record for each parcel of land in the Cayman Islands, indicating ownership interests, mortgages and charges against the land, easements and restrictions, and other legal and equitable interests in land. Thus, a search of the Land Registry pertaining to a particular parcel will reveal the necessary information to allow a buyer or mortgagee to enter into a transaction with respect to that parcel. When a purchaser enters into a contract to buy Cayman properties, the risk of an intervening interest being registered can be eliminated by filing what is commonly known as a "Search and Stay". This essentially "freezes" the title and prevents any other interests from being registered against the parcel during the priority period until it is transferred to the purchaser. In this way, the purchaser can be certain he or she will obtain the property encumbered only by interests they were aware of at the time of entering into the transaction. Once a person is registered as the proprietor of a parcel of land, that ownership is absolute and protected by the Law. In the event an error is made by the Registrar in registration of a transfer or any other interest, any person who suffers a loss as a result of such an error is entitled to be indemnified by the Government of the Cayman Islands. The result is a Land Registry System that provides owners, lenders and others with full and complete protection of their proper interests and rights in land. Another feature of the Land Registry System is the ability to obtain a registered and secure leasehold interest in land. Any parcel of land or portion thereof can be dealt with by way of a lease, and leases can be

registered on the system as other interests are, protecting both landlord and tenant. Strata Titles Registration Law (1996 Revision) ("STRL") Many properties in the Cayman Islands are multiple unit complexes divided into individually owned condominium or "strata" units. The STRL is the statute that governs the registration of "strata plans" and creates strata, or condominium, corporations similar to those in existence in many other jurisdictions. A strata plan consists of two elements being the individual units with separate titles, and the grounds, common areas, amenities (pools, tennis courts, etc.), collectively known as the "common property". The strata corporation holds the title to and manages the common property. Maintenance fees are collected from the individual unit owners and applied to maintaining all of the common property. The individual unit owners hold title to their units in the same way as the owner of any other parcel of land, and the Land Register maintains the same type of records for these strata units.

Although there are no income or property taxes levied in the Cayman Islands, the government needs to take in revenue to pay for its programs and services. One of the ways that revenue is generated is by the imposition of stamp duty on the transfer of land. For Grand Cayman properties — which is where over 90 percent of the total population of the Cayman Islands reside — there are generally two different rates of stamp duty. In the highly popular Seven Mile Beach area, stamp duty payable on transferring land or property is 9%; in all othe districts, stamp duty is 7.5% of the fair value of the property, subject in each case to the concession noted below. While the Cayman Islands enjoyed a brisk and expanding real estate market for many years, in recent times that market has been adversely affected by world economic conditions, by concerns over air travel and, most recently, by the effects of Hurricane Ivan in 2004. In an effort to stimulate activity the Cayman Islands government in 2001 announced a reduction in the stamp duty payable on real estate transfers to 5% throughout Grand Cayman. Given some of the very high property values in Grand Cayman, this can amount to a significant saving on some properties, and can make even the lower value transactions more attractive to purchasers. Although the reduction was originally to be a one year program, expiring in November of 2002, the government extended the concession on several occasions and as of this date there is no expiry date on the concession and most consider that the 5% rate is the status quo at this time, although there is no guarantee the government will not look to increasing this duty as a revenue generating measure in the future.

There are a number of real estate agents operating in the Cayman Islands. Most of them are members of an association called the Cayman Islands Real Estate Board Association ("CIREBA"). While there is no legislation governing the activities of real estate agents, CIREBA has rules and regulations governing its members’ activities. The rules contain a complaints and discipline process which is available to members of the public aggrieved by the actions of a realtor. Many of the agents are affiliated with the familiar international real estate firms.

Legal advice should always be obtained prior to entering into any property transaction. A lawyer will ensure that all necessary searches are conducted, all documents are prepared and executed properly according to the Law, and that at the time of completion the interests of the client will be fully protected. In the case of purchases of condominiums it is vital that a purchaser is fully aware of all liabilities they will be assuming in relation to the strata corporation, including commitments to major capital expenditure or repairs. Without proper attention to such details, a buyer or seller could be faced with unexpected and potentially disastrous results. An intervening and unexpected interest may appear on a buyer’s title, seriously affecting the value of the real estate, or worse, a buyer may hand over the purchase price and receive a transfer that is improperly drafted or executed. Similarly, purchasers of condominiums may be exposed to liabilities to the strata corporation of which they were unaware. Completion generally occurs on an agreed possession date, and involves exchanging the Transfer of Land, and discharge of the seller’s mortgage, if any, for the balance of the purchase price. For the purchaser, retaining a lawyer will help ensure that they will obtain a Transfer that will properly convey ownership of the property. For the seller, the lawyer can assist in verifying that the purchaser has satisfied any contractual conditions and that any necessary mortgage discharge has been obtained and held in escrow for the bank pending completion. The lawyer will also prepare all the necessary transfer documents and ensure that the funds are properly paid to the vendor on completion.

Cayman Islands Real Estate Agents

Cayman Real Estate Laws and Regulations

Benefits of Real Estate in the Cayman Islands

Real Estate in the Cayman Islands:
" A Sound Investment"
By: Lynn M. Bodden, LL.B (Hons.)

The Island – One of Cayman’s Hottest Real Estate Opportunities

More Cayman Islands real estate information, photos, reviews and details at our message board forum.

Cayman Islands Real Estate News

Cayman Brac Shangri-La

Located on Cayman Brac, this 3100 sq. ft. home is unique in design and layout. Situated on 1 acre of Bluff edge land, half of the parcel is undeveloped in its natural state. With 2 bedrooms and 2.5 baths, the open floor plan is surrounded on the bluff side by a large screened porch all sitting above an earth basement. There is an attached garage with laundry and storage facilities. Priced to sell $399,000CI. Contact your Cayman Brac Realtor for more information.

Duty Cuts Remain for 2014

Duty on fuel and building materials remains reduced throughout 2014. Marco Archer said, “The extension of these concessions is consistent with the Government’s ongoing efforts to stimulate growth in the economy, and I encourage all developers and other stakeholders to accelerate their construction activity during this further concessionary period.”

Normal import duty on fuel is 75 cents/gallon and duty rate on building materials ranges from 17-22%. The reduced duty is currently 12.5 cents/gallon for gasoline for Cayman Brac. 100% waiver on building materials to Cayman Brac and Little Cayman remain in effect. 

Cuba via Cayman Brac

Talks are underway to establish a Cayman Airways flight from Florida to Cuba via Cayman Brac as early as next year, according to Tourism Minister Moses Kirkconnell. Preparations for the processing of international flights have been underway which includes an x-ray machine for checked baggage. “Our goal is to be completed in February, so that Cayman Airwatys can have flights coming in and out of the Brac on the Cuba route,” Mr. Kirkconnell told the Caymanian Compass.

With this added influx of travelers, investors may consider a new hotel venture at the Divi Tiara site. which Neil van Niekerk, president of the Sister Islands Tourism Association, said Cayman Brac has sorely needed for several years. “The Brad has needed a new hotel since the Divi Tiara Beach Resort closed in 2007.” Mr. van Niekerk said. “I understand they would be interested in investing and rebuilding at that site if the airlift was there.”

National Conservation Law a Possibility

Could this be the year that the National Conservation Law is passed and Cayman’s natural environment is protected? With the support of Minister Wayne Panton and Governor Helen Kilpatrick, Cayman’s environmental future holds promise.

For over 10 years, Department of Environment Direction Gina Ebanks-Petrie has long hoped the National Conservation Law would come to pass, warning that Cayman’s unique endangered species could disappear without proper protection. The department offers its opinion to the Central Planning Authority when it comes to major developments, but recommendations are mostly ignored. 

The DoE has also completed consultation on the enrichment of the Marine Parks legislation. After 25 years of successful legislation, the need to increase this protection of our local marine environment remains critical as precious coral reefs, mangroves and fish stocks are the primary draw for the overnight tourism market. 

Minister Wayne Panton has been a leading member of the National Trust for the Cayman Islands for many years, coupled with a new governor providing her support and commitment  to the environment, local conservation groups are encouraged this could be the year that government shows their support and value for Cayman’s natural assets.

The Splits Now Protected

The family of the late Dr. Roy Herrman and Estelle Herrman has given an additional 8.6 acres of Cayman Brac land to the National Trust for the Cayman Islands. Well known for its natural beauty, The Splits is a unique inland freshwater ecosystem that will now be protected. This increases the total National Trust donation by the Herrman Family to 26.1 acres via the International Reptile Conservation Fund. Located in the West End of the island, The Splits is part of an island long, naturally occurring fissure or “split” which provides fresh water to the wildlife of the Brac. It has ecological significance as it is also a nesting site for two species of heron, home to two endemic freshwater fish species, in addition to being a well-used watering area for local and migratory birds.

“In fond memory of our parents, Dr Roy and Estelle Herrman, we gift our Cayman Brac land to the Trust to help maintain a pristine home for rare birds and animals,” the Herrman sisters, Shirley, Barbara, Louise, and Carol, said in a written statement to the Trust. “We have very fond memories of time spent on Cayman Brac and the white sandy beach overlooking sparkling blue water, and this is our way of giving back to such a beautiful island.”

“Conserving this land is critical for preserving the beauty and biodiversity of our islands and the Splits is one of Cayman Brac’s true ecological gems being one of the very few inland sites with freshwater year round. With the exception of a rough footpath from the north, the site is undisturbed and contains many endemic and native plants,” Christina McTaggart, executive director for the Trust, said. “We thank the landowners for their generosity and vision in permanently protecting this natural treasure.”

For more information, contact The National Trust.  www.nationaltrust.org.ky 

Photos by CNS

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Cayman Islands Real Estate News Archives
October, 2010: The Cayman Islands Ranked FIRST for specialised financial centres. The leading banking and finance magazine "The Banker" ranked the Cayman Islands the top specialised financial centre in the world, for the 2nd year in their 2010 IFC rating. The Cayman Islands have been awarded first place by a large margin over all other jurisdictions, including: Bermuda, Malta, Gibraltar, Monaco and Cyprus. Their ranking of international financial centres is based on the level of international business and the overall value offered to business entities seeking to expand their offshore operations. Statistics from Cayman Islands Monetary Authority demonstrate that the Cayman Islands maintain over US$1 TRILLION in deposits and inter-bank bookings. as well as the world’s largest center for hedge funds, health care insurance, bond and realty transactions.