Are you planning to invest in a home in the Caribbean? If so, the Cayman Islands is the ideal location for you! Investing in a Caribbean real estate can be a both intrinsically and financially rewarding. The Cayman Islands is a popular destination for vacationers, travel enthusiasts, and short and long-term residents. Surrounded by the clear myriad shades of blue Caribbean Sea, natural tropical scenic beauty, and uncrowded pristine beaches, the Cayman Islands offers a wide choice of property investment opportunities. These attractive features combine to make buying a home in the Cayman Islands-a great idea!
Here are five reasons to invest in real estate in the Cayman Islands!
- Tax Neutrality
The most important benefit to buying a property here is that the Cayman Islands are tax neutral. There is no tax on income, capital gains, inheritance, property, sales, or capital gains. There is no direct taxation. There is no requirement to pay tax on income from a Sale or Lease of property. For property purchases, there is a one-time Stamp Duty calculated on its value and location. The current Stamp Duty rate is 7.5%.
- Ideal Weather
The weather in the Cayman Islands is near perfect. Naturally cooled by the Trade winds, the average temperature is around 30°C (85°F). August is the warmest month and January the coldest at about 25°C (77°F). The maximum daily sunshine is a whopping 11 hours in July- Perfect for enjoying outdoor and underwater activities. October is the wettest month with an average of 220mm rain.
- Secure Destination
When purchasing a home, security is the most important aspect before location, size, and price. The Cayman Islands is one of the safest countries in the region, has a low crime rate, the people are friendly and helpful, and there is a real feel of community.
- Returns on Investment
The Cayman Islands continues to enjoy steady growth in the real estate market. It is possible for investors to make attractive return on investment by purchasing land, as there is normally no requirement to develop it.
The Cayman Islands enjoys political stability, a strong economy, a renowned business environment, thriving financial industry and a busy tourism market. The country has modern infrastructure, state of art telecommunications, outstanding health care facilities, and an overall high standard of living.
There is an amazing variety of quality properties-homes, apartments, and condominiums, inland and beachfront homes for sale in Cayman Islands. Real Estate investment for living, leasing, or reselling is actively encouraged and over the years, buyers have invested with confidence in the Cayman Islands.
- Legal Benefits
Investing in property in Cayman Islands affords many legal benefits. There are no variations in the Real Estate Law across the Cayman Islands, nor restrictions on foreign ownership of property for personal use.
*Ownership can be held in the name of one or more individuals or in a corporation.
*In the majority, investors can purchase land without obligations to develop, and this offers a simple way to achieve returns since there are no annual taxes due.
*The Cayman Islands Government guarantees the right of ownership for all registered absolute titles.
*There is no requirement to pay tax on income from a Sale or Lease of property.
There are many advantages to Investing in the Cayman Islands that continues to be main reason it is popular with investors overall and especially for real estate investment. Largely, thanks to the Cayman Islands’ status as an offshore financial centre and a safe environment with solid infrastructure, the financial sector continues to have a positive effect on the real estate market sales and rentals. The consensus is that both Cayman Islands real estate and the economy is outperforming the rest of Caribbean!