Buying
No taxes, readily available finance and no restrictions on foreign ownership make Grand Cayman real estate an attractive investment.
Restrictions on Foreign Ownership
There are no restrictions imposed on foreigners wishing to purchase real estate in the Cayman Islands. Property can be held in the names of individuals or a corporation.
Mortgages
Non-residents are permitted to open bank accounts and take out a mortgage. They are generally taken over a 10 to 15 year period and the deposit required is typically 10 – 35% of the purchase price. Rates are typically prime plus 1 or 2%.
Taxation
There is no income, capital gains or inheritance tax. The only tax payable is stamp duty of 5% on the purchase price of the property and 1% on any mortgage (1.5% on mortgages above CI $300,000).
There are a number of real estate agents in Grand Cayman that will be able to assist you with your purchase.