There is absolute freedom from direct taxation for full and part time residents in the Cayman Islands. However, there is a form of indirect taxation in that all residents are subjected to import duties and fees that are passed down from the suppliers. Cayman Islands are termed tax neutral. For example UK or US residences living here must file with the revenue departments in their home countries. However, it is possible to avoid income tax by meeting certain criteria. All residents and overseas investors have the benefit of no property tax, no income tax, no inheritance tax, no gift tax, no estate tax, no withholding tax, and no corporation tax. The Cayman Islands, are internationally recognized for its regulatory standards. It is one of the top five offshore centers in the world, providing strict privacy for its corporations and residents, while maintaining its excellent standing on the OECD’s List.
From serious property investors to the first time homebuyer, there are no ongoing taxes, no property taxes and no restrictions on foreign ownership. The title is guaranteed by the Government via a modern, computerized and reliable Land Registry system. Raw land can be held without planning indefinitely, another appealing investment potential. Alongside our world class financial industry is a strong tourism sector. Owning property on the islands provides excellent rental income throughout the year. Retirement planning takes shape for many when making their first property purchase.