Five Reasons to Buy Cayman Real Estate
Friday, May 20, 2005
Many factors combine to make real estate purchase in the Cayman Islands a
safe and predictable investment. In no particular order, here are ten of the
main reasons the real estate industry thrives here.
1/ Location
Location is often cited as the main determining factor of the value of a
specific property. The same concept applies generally when considering the
Cayman Islands.
Located in the middle of the tranquil, blue Caribbean Sea, the Cayman
Islands boast a temperate climate that seldom sees temperatures above 90ºF or
below 70ºF.
Cayman’s remoteness in the Caribbean and its lack of mountain river run-off
help maintain ultra-clear waters near shore making for some of the best scuba
diving in the world.
Adding tropical plant life, beautiful white sand beaches, and a short
flying distance from the United States to the formula and it’s easy to see why
the Cayman Islands are seen as a paradise to many of our visitors.
2/ Advantageous Tax Regulations
The Cayman Islands impose very few forms of taxation upon its people. This
holds true for its foreign investors as well.
With regard to real estate ownership, the Cayman Islands assess no regular
property taxes or capital gains taxes.
There is also no tax due to the Cayman Islands government for other income
derived from real estate investment such as rent or dividends.
Unlike many countries, the Cayman Islands have no restrictions on the foreign
ownership of real estate for personal use. Land can be owned by any adult
individual (either alone or with others jointly or as proprietors in common),
or in the name of a company.
Additionally, the islands-wide cadastral survey and implementation of the
Registered Land Law in the1970’s took away the risk of previous ownership
claims on property. Every piece of property in the Cayman Islands is
registered under a unique block and parcel number, and ownership belongs to
the registered owner of the property, and the Government guarantees that right
of ownership. There is no need for extensive title searches or title
insurance.
The Land Registry in a matter of public record, and for a nominal fee,
anyone can inspect or get a photocopy of a particular Land Register which will
show not only the registered owner, but any liens, covenants or other
restrictions on the property.
There are also no time deadlines for foreign investors to build on raw
land; it can be held undeveloped indefinitely.
4/ Political Stability
Many British Overseas Territories in the Caribbean rushed into independence in
the years following World War II, often with harmful results. Not the Cayman
Islands, where they have happily remained under the gentle rule and protection
of the UK.
Caymanians by-and-large govern themselves, but within a tried and true
framework developed by the British. Moreover, the Caymanian Government is
keenly aware of the country’s position as a financial and investment centre,
and the requisite of remaining stable in investors’ eyes.
5/ Social and Economic Stability
Very few places in the world can combine people from 100 different countries,
with a make-up of every possible race and income bracket, and experience the
kind of social harmony found here in the Cayman Islands.
Buoyed by one of the world’s highest per capita incomes and a natural
tolerance for racial difference, the people of Cayman have not only learned to
live together, but to respect each other as well.
Back...
| 
