Specialising in luxury Caribbean real estate, ElegantInvest offers real estate for sale from across the Cayman Islands. This guide is intended to provide you with an introduction to the Cayman Islands real estate market. Contact us with any other questions or to begin a bespoke search for your perfect property.
Several areas around Grand Cayman’s capital George Town are particularly popular with luxury real estate buyers. There are luxurious condos for sale in resorts along the world famous Seven Mile Beach and beachfront homes in South Sound.
There are no restrictions on foreigner buyers purchasing Cayman Islands real estate. Property in can be purchased in the name of an individual or corporation.
Foreign investors can also purchase land and there are no requirements to develop the land within a defined timeframe, unlike other Caribbean islands.
Once you have made a formal written offer in standardized format and that offer has been accepted, you will be required to pay a deposit. You should have the property professionally inspected. Upon transfer of funds, both you and the seller should execute a Transfer of Land form and the transaction will be complete and title is guaranteed by the government via a computerized Land Registry system.
Buyers are required to pay a one time stamp duty of 7.5% of the purchase price or market value of the property (whichever is higher). There is no property tax or capital gains tax in the Cayman Islands.
It is possible for “wealthy retirees, entrepreneurs and investors” who have no need for employment to apply for residency in the Cayman Islands for a period of 25 years (renewable).
From the USA, there are direct flights to the Cayman Islands from Atlanta (Delta), Boston, Charlotte and Philadelphia (US Airways), Miami (American Airlines), Houston and New York (Continental Airlines) and Detroit and Minneapolis (Northwest Airlines).
From Canada, Air Canada flies from Toronto to the Cayman Islands. From the UK, fly with BA from London. From Jamaica, Air Jamaica operates direct flights from Kingston and Montego Bay.