There are numerous benefits to living on the Cayman Islands. It offers one of the largest offshore financial centers in the world, it’s a beautiful place to call home, and there are no annual real estate taxes to worry about. But, before you go and pull the trigger on a one of the many Grand Cayman homes, it’s important to know what true benefits the islands can offer you.
Investors love the fact that there are no taxes on profits, income, capital gains, or withholding for foreign investors. Furthermore, because of the fact that there are no annual real estate taxes, real estate buyers can look forward to one less annual payment that they need to worry about. In addition to this, the Cayman Islands also boast the highest income per capita in the Caribbean, something that’s looked highly upon by investors. Their luxury and economic infrastructure are simply unmatched in the Caribbean.
A Simple and Straightforward Property Transfer Process
Transferring a property is one the most efficient and easiest process in the entire world. All it requires is a Land Transfer document that is signed by the buyer and purchaser to legally hand over the property. Additionally, in the Cayman Islands it’s common for there to be a “search and stay” in place during the transaction to avoid any additional charges being tacked on to the property.
The Bottom Line
With so many Caribbean vacation homes for sale nowadays, you’ll want to heavily focus on one that offers a variety of amenities with large upside. The Cayman Islands offers just that. Often misrepresented as a tax haven, Cayman residents enjoy a nearly tax-free lifestyle that comes with many other beautiful perks. So, what are you waiting for? Make the move to paradise today!