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The Cayman Islands are safe and secure place to purchase Caribbean property. As a result of the survey conducted in 1970, every parcel of land in the Cayman Islands is registered. This protects the buyer with an assurance of title and ownership. The land registry (www.caymanlandinfo.ky) land is open for public inspection for a fee, allowing potential purchasers to examine records for liens, charges or other restrictions. The Cayman Islands have also demonstrated a continued economic stability that bodes well for the potential investor. Lack of direct taxation, no income tax, sales or annual property tax, no restrictions on foreign property ownership and a stable political structure also add to the attractiveness of these islands.
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Special concessions for land purchases on Cayman Brac have been introduced by the Cayman Islands government and further revised a few years ago. (www.caymanlandinfo.ky). This includes the reduced stamp duty rates on the purchase of raw land, homes, condos and businesses. The government has also waived the stamp duty fees on importation of some building materials (www.caymanislandscustoms.com). There are also special concessions for first time Caymanian buyers. Your Tranquil Realty agent will be happy to assist you with further information regarding this
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Financing of 50-80% of the purchase price is available locally to qualified purchasers through various banking institutions throughout the islands.
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