Investing in Cayman
The Cayman Islands have for many years enjoyed a thriving economy with growth in population and tourism fueling investing in the Cayman Islands property market a profitable venture.
The benefits of investing in real estate in the Cayman Islands among others are the following:
- No direct taxes imposed by the Cayman government: no annual property tax, no capital gains tax, no inheritance taxes, no income tax, no non-resident tax and no sales tax
- No restrictions on foreign ownership of real estate in the Cayman Islands
- Ownership can be held in one or more names of individuals or in a corporation, which does not reveal actual ownership
- Stability and Security – the Cayman Islands has a stable government, sophisticated infrastructure and a strong economy based on legal, international banking and tourism
- Caymanians enjoy one of the highest outputs per capita and one of the highest standards of living in the world
- A thriving long/short-term rental market offering discerning investors great investment yields and returns.
There are no legal restrictions of any kind 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. There are no imposed requirements to develop land (excluding subdivisions which do have Covenants) within a stipulated time period; consequently, parcels can be held indefinitely, with little or no expense, for future use or speculation.
The title to property in Cayman is "absolute" (fee simple). Based on the Torrens System, each site has a property register which can be obtained at the Lands and Survey Department showing its legal description, history of ownership, and record of liens.
Government guarantees title through this document making title searches unnecessary. A one-time Stamp Duty is paid to the government to register transfer of title.
There is no direct taxation - no taxes on income, profits, capital or capital gains, property or inheritance.
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