The Cayman Islands have a world-class infrastructure, fantastic schools and medical facilities and every form of entertainment, sport, dining and leisure facilities imaginable. Living in the Cayman Island is about being in a first-world environment while enjoying the year long tropical climate, white sand beaches and warm, crystal-clear sea. Working in Cayman is also particularly rewarding as earnings and any savings or income and gains from investments are tax-free.
To date, Cayman real estate has proven to be an attractive and profitable investment. Apart from a one-time stamp duty of 7.5% there are no annual property taxes or restrictions on foreign ownership by individuals. Property can be passed on duty-free to family members by ‘love and affection’ and vacant land can be owned and held for future investment potential. Title to land is recorded in a modern, reliable and centralised land registry, where every plot of land is mapped and given a descriptive title number based on location, and title is granted and guaranteed by the Cayman Islands government. Any encumbrances such as mortgages, rights-of-way and cautions pending contract are recorded on the title register of that parcel of land. Buildings are subject to planning regulations and are required to be constructed to high standards. These are monitored by the Cayman Islands Central Planning Authority and Building Control Unit, which carries out inspections.
It would be safe to say that the market has something to offer to anyone who has an interest in property ownership. CrownWorld offer desirable plots of land for sale including inland, resort and waterfront plots. Historically, buying land and building a home has been very popular with Caymanians.