This area is highly sought-after and popular with expats and locals alike. Close to Walkers Road's schools, as well as the centre of George Town and sport facilities such as the Cayman Islands Rugby Club, the Cayman Islands Tennis Club and the South Sound Squash Club, as well as a number of churches. It is a convenient location for executives working in George Town or those who want to call the Cayman Islands their home away from home. South Sound Road meanders up a stunning coastline road and highly desirable properties can be found on both sides of this outstanding address. Indigo Bay is the prime oceanfront location, centered in the middle of the magnificent bay vista. There is much new development taking place along South Sound which continues to strengthen the Grand Harbour and area community. The upscale Grand Harbour shopping centre offers a range of grocery, medical, restaurant and aesthetic services directly across the road.
The Cayman
Islands are a British Overseas Territory, a
tropical paradise with first world infrastructure and amenities consisting of
three islands in the Caribbean Sea, west of Jamaica, and including some of the
Caribbean’s most beautiful beaches – Seven Mile Beach in Grand Cayman being the
most famous of the group – as well as some of the world’s best scuba diving.
Our beautiful islands are the perfect spot to purchase your dream home, the kind
of unique place that creates both an
ambiance of luxury and indulgence combined with superb livability.
Every possible water sports activity can be found in Grand Cayman along with deep sea fishing
and other favourite pastimes such as sailing, tennis and golfing. This
tropical nirvana is also a great destination for those seeking
rejuvenation of the body and mind with spas and wellness
centres in
abundance. Our hospitals and health care are also outstanding and comparable to any in the US or the UK.
Fine dining,
superb restaurants, wine tastings and outstanding events – like the Cayman
Cookout which brings in world renowned chefs annually
– have put
Cayman on the gourmand map as well. With large scale music events, local art shows or intimate jazz
nights – the island offers a rich mosaic of arts and entertainment.
Grand Cayman
is also considered one of the richest islands in the world thanks in part to
its banking industry – in fact, the islands have no direct taxation, making
them an attractive location for incorporations and a hub for tech
entrepreneurs.
Whether you have a
young family and are looking for a safe, secure and beautiful place to call
home or on the way to retirement – ready to reap the rewards and savour the sunsets, Indigo
Bay awaits!
The Cayman Islands simply has incredible weather and annually only a swing in temperate from approx. 80F to 90F give or take a few degrees less in winter and a few higher in the summer. The “Christmas breezes” are a wonderful time year with cooler weather with gentle east north easterly winds from November to March. The hottest part of the year is from May to September.
All three islands have
primary and high schools for Caymanians and expats; however expatriate children
will have to attend private schools. Listed below with links are the private
schools:
- First Baptist
Christian School
- Grace Christian
Academy
- St Ignatius Catholic School
- Cayman Prep and
High School
- Triple C School
- Cayman
International School
Grand Cayman has two colleges, the University College of the Cayman Islands and the International College of the Cayman Islands. It is also home to the Truman Bodden Law School and St. Matthews University School of Veterinary Medicine.
Foreigners may open bank accounts and borrow to finance a purchase. Interest on money borrowed in Cayman may be properly written off in most countries. Bank accounts may also be opened in corporate entities. It is illegal under Cayman Law for anyone to divulge any financial information unless it can be proven that the funds were obtained through illegal means.
There are no
direct taxes imposed by the Cayman government: no income tax, no property tax,
no capital gains tax, no inheritance taxes. It
has become the financial capital of the Caribbean with 250 banks and
financial institutions represented.
The requirements for Cayman Residency include having a clean police record and making an investment which includes a local residence. Cayman Residency allows unrestricted stays in the Cayman Island and allows one to be taxed (usually not taxed) as a non-resident in one's home country. These residency provisions and the lack of inheritance taxes are two of the most attractive financial aspects of a move to the Cayman Islands. This type of residency, however, does not include the right to work. Employment requires a work permit which is likely to be issued only if local labor is not available for a particular position.
The ownership process here is very simple, there are no restrictions on foreign ownership of property. The title to property in Cayman is "absolute" (fee simple). Based on the Torrens System, each property has a property register which can be obtained at the Lands and Survey Department showing it's legal description, history of ownership, and record of liens. Government guarantees title through this document making title searches unnecessary. A one time fee of 7.5% is paid to government to register title. Although through this procedure ownership is a matter of public record, properties may be held in Cayman Corporations thereby making beneficial ownership a confidential matter.
Stamp duties are levied on lease contracts and transfers of properties. Owners leasing properties to tourists are liable pay to tourist accommodations, tax levied at 10% on the gross rent without any deductions. Investment property ownership in the Cayman Islands offers yields on average from 7.48% to 8.17%.
This is my insight
into how I see our recovery unfolding in the Cayman Islands, as we get through
the COVID-19 crisis and resulting recession. This is based on my 35 years
of experience in Grand Cayman, having been involved in the real estate industry
for that whole time.