Top Reasons to Invest in a Cayman Islands Property

The government of the Cayman Islands has purposely made real estate investment easy for foreigners, creating an attractive environment for anyone looking for long term growth.

White sand beaches, the gentle lapping of ocean waves, glorious food and a laid-back Caribbean pace of life are plenty of reasons to daydream about buying a Cayman Islands property. Here are a few more that should make you want to turn that daydream into a reality:

Taxes, What Taxes? Probably the most commonly known fact about the Cayman Islands is its tax-neutral economy. There is no income tax, no corporate tax, no capital gains tax, no sales tax, no inheritance tax, no form of taxation at all. National income derives entirely from import duties, work permits, license fees and a 7.5% stamp duty on land transfers. As there are no annual property taxes, an investment in the Cayman Islands real estate is a very attractive proposition.

Anyone Can Join In — There are no restrictions on foreign ownership of Cayman Islands property. Ownership can be held by an individual, via a trust or a company, anywhere in the world.

A Growing Market — The Cayman Islands real estate market is expected to continue growing due to strong demand and limited supply. New hotels, restaurants, and residential properties are springing up all over the islands. Growth is centered along Seven Mile Beach for condominiums and Cayman Kai which is on the island’s north, for single-family homes.

A Luxury Market — With so many hedge funds, banks and businesses based here, Cayman Islands real estate properties are squarely aimed at the top end of the market. The property currently for sale includes luxury condos and beachfront homes overlooking Seven Mile Beach, luxurious residences at the Ritz-Carlton (one sold recently for over US$8 million), an oceanfront mansion in Vista del Mar, and a stylish townhouse in South Sound. You can get in on the ground floor for as little as US$250,000, or the sky’s the limit for the ultimate in luxury. The most expensive housing along Seven Mile Beach can reach prices as high as US$1,800 per square foot. Prices surged 33% in 2018.

A Well-Regulated Market — Most of the property sold in the Cayman Islands is handled by firms who are members of the Cayman Islands Real Estate Brokers Association (CIREBA). CIREBA brokers handle transactions from start to finish. All the members of this association are obliged to follow a strict code of business ethics. CIREBA operates a Multiple Listing Service (MLS) which updates property information in real-time and all listings are online. This allows the buyer to choose one Cayman Islands real estate agent while simultaneously having access to every other member’s property listings.

A Vibrant Economy — As a highly successful offshore financial center, the Cayman Islands has the strongest economy and the highest standard of living in the Caribbean.

Location, Location, Location — The location of the Cayman Islands, just a one hour flight from Miami, the world’s busiest cruise port and a major airline hub, makes the islands accessible from anywhere in the world especially with the recent increase in the number of direct flights from major states of the US. In recent years this has led to a boom in new residential and resort developments, increased business development, new infrastructure and upscale shopping, dining, and related services.

At the end of the day, the attraction of investing in Cayman Islands real estate is not just the tax neutral regime on offer. Other important benefits are there for the taking, such as a vibrant economy, political stability, the consistent appreciation of real estate and — naturally — the laid back, tropical atmosphere and stunning Caribbean beach setting.