The Cayman Islands has become an attraction due to its feasibility for off-shore financial services. It provides one of the most fruitful investment opportunities in the region. It has also become the most visited tourist destination as the Islands are beautiful and mesmerizing enough to make the visitors fall in love with the place. Not only due to its tourist attractions, but people are drawn towards the Cayman Islands due to the quality of life offered and also, the attractive monetary returns that the country has the potential to provide. Due to the growing number of people settling in the region, the real estate investors have begun to massively invest in the Cayman Islands.
For investors, it’s the return on investment and for the people, it is the lifestyle that they will be able to enjoy!
Not only due to the breathtaking beauty, but the Cayman Islands also attract foreigners due to its sane legal and political environment. Its real estate serves as a good retirement backup for elderlies as buying property in the Cayman Islands would make you liable for neither death taxes, nor investment taxes!
With the exception of a one-time stamp duty upon property purchase, Government of the Cayman Island has not implemented any direct taxation. There is a complete absence of non-resident taxes, inheritance taxes, property taxes, capital gains tax, and income tax as well, thereby making it a tax-free country.
Multiple Listing System (MLS) is another aspect which makes a haven out of the Cayman Islands as far as the real estate investment goes. This system is widely being used in major markets like the US and Canada. Under the CIREBA, all property listings are shared between its member companies. Meaning – if one property has been listed by a member company then it can be shown and sold by every CIREBA agent and company. The MLS aids the potential buyers who would have access to the listings that are worth billions of dollars. They will have an expansive range of options to choose from while being aided by a CIREBA agent. The buyer can prefer to work with a single realtor when availing the services of a CIREBA member.
Sellers are also benefited with this system as they would not only have one company working to sell their listing but also have all of the CIREBA members to work on their selling. You could make one listing and have 168 agents to sell your Cayman property; because that’s the number of realtors working for a total of 34 companies under CIREBA.
The Cayman Islands could easily be called a heaven on earth with its heart-warming and beautiful white sand beaches and the bluest of the ocean. It has an environment supported by an enjoyable tropical climate. The Cayman Islands are not only about eye-grabbing scenic views, but it is also a safe ground for potential investors to make some business. Things such as guaranteed ownership and absence of strict regulation over foreign ownership make it appealing and allow it to be in demand for all the real estate investors.
Following is a summary of why the Cayman Island is a haven for real estate investors:
- Zero imposition of property tax.
- No income tax from leasing an investment property.
- The Cayman Islands are tax neutral.
- There is a one-time stamp duty on the purchase of a property.