Beach Groves, Where Luxury Meets Sustainable Island Living.
Grand Cayman
Location
Grand Cayman, the largest of the three Cayman Islands, is nestled in the Caribbean Sea, famed for its turquoise, clear waters teeming with vibrant marine life. The picturesque beauty of the sea, with its sun-dappled surface by day and moonlit glow by night, creates an ambiance of serene majesty. Meanwhile, the island's advantageous location and excellent transport links make it a gateway to various major cities. The Owen Roberts International Airport in George Town offers regular flights to cities like Miami, New York, and Toronto, facilitating seamless travel. Whether it's the sea's enchanting allure or the convenience of global connectivity, Grand Cayman elegantly combines the best of natural beauty and modern accessibility. For information on purchasing real estate in Cayman, Cayman immigration, the cost of living, and the Cayman economy, read on.
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Buying Property
Purchasing real estate in the Cayman Islands is a remarkably straightforward and accessible procedure, even for overseas buyers. The islands have a singular property stamp duty or purchase tax, which is only paid once during the initial acquisition. Regardless of whether one opts for a house or a condo, there are no recurring property taxes or sales taxes. Furthermore, there are no levies imposed on inheritance. This beneficial tax structure is one of many reasons why investing in the Cayman Islands' property market is so appealing.
Tax Mitigation
The Cayman Islands has the absence of income, capital gains, inheritance, sales or any other personal taxation.
Immigration
If you're planning a trip to the Cayman Islands, ensure that your passport is valid for the duration of your visit. You'll typically be permitted to remain on the islands for a maximum of six months, but if you wish to extend your stay, an application can be submitted to the Chief Immigration Officer. Those aspiring to be gainfully employed on the islands will need to secure a work permit beforehand. Nevertheless, the Cayman law has certain stipulations for individuals intending to retire or make investments on the islands, without engaging in employment. These legal provisions make it feasible for many to enjoy or invest in the beauty of the Cayman Islands without necessarily participating in the local workforce. Please visit the Cayman Islands Department of
Immigration website for more information:
http://www.immigration.gov.ky/portal/page/portal/immhome/livinghere/permanentresidence
The Economy & Safety
The Cayman Islands, recognized globally for its robust financial services sector, boasts one of the most formidable economies in the Caribbean. The economic stability, coupled with the steady governance of a British Overseas Territory, has enabled the development of top-tier infrastructure on the islands. From well-stocked supermarkets to gourmet dining establishments, and high-quality services that one might typically find on the mainland, the Cayman Islands offer a lifestyle of sophistication and convenience. Owing to these factors and its reputation as one of the safest places in the Caribbean and surrounding region, the Cayman Islands provide an attractive destination for both living and working.