The Cayman Islands has long been a vacationer’s favorite thanks to gin clear waters, fabulous beaches and beautiful scenery. Complementing those natural attributes is warm island hospitality, a robust economy, and modern, well maintained public infrastructure, which combined make the Cayman Islands not only a great place to visit, but a desirable place to call ‘home’.
If you’re investing in Caribbean real estate, here are the top five reasons why Cayman Islands real estate is the right choice.
1: Safe and Secure
Cayman Islands enjoys a low crime rate. A genuine sense of community where neighbours look out for each prevails, and a well-established law enforcement agency, the Royal Cayman Islands Police Service, ably maintains law and order.
2: Tax Neutrality
The Cayman Islands Government imposes no direct taxation, except for a one-time stamp duty on property acquisitions. There are no property taxes, capital gains taxes, income tax, non-resident taxes, sales taxes and inheritance taxes.
3: World-Class Healthcare and Education System
All schools in the Cayman Islands are co-educational with state-of-the-art facilities. Providing strong academic and extracurricular programmes to students from nursery school up to grade 12, the Cayman Islands have taken a conscious approach to ensure that all students are well educated and prepared for their tertiary education pursuits, locally or abroad. Locally, the islands have two liberal arts community colleges as well a law school and a renowned medical university, St. Matthew’s University.
Fast becoming a healthcare haven for patients from across the globe, the Cayman Islands offer a broad range of medical services from pediatrics, to cardiac surgery, to cancer treatment. Health City Cayman Islands, an internationally accredited medical centre of global excellence, attract patients from all over the Caribbean, the U.S, and Latin America. There are two other hospitals on Grand Cayman; the private Chrissie Thomlinson Memorial Hospital and the public [Cayman Islands Hospital
4: Perfect Weather
The Cayman Islands is an ideal outdoor playground for those who enjoy year-round temperatures between 77F to 85F. Marine pursuits include world class diving, sailing, wind sports, snorkeling and competitive swimming. On land, there is a wealth of facilities including fitness centres, tennis courts, and recreation and sport fields. Marathons and community walks are held almost weekly, providing an opportunity to be active and help local causes at the same time.
5: Stable Government and Modern Infrastructure
Continuously driven to create economic stimulus, the Cayman Islands Government recognizes the importance of innovative collaborations to develop much-needed infrastructure. In 2011, Dart Real Estate partnered with the Cayman Islands Government on the National Roads Authority (NRA Agreement allowing for the redevelopment of a derelict hotel and facilitated significant roadworks without the Government incurring debt. This collaboration led to the development of The Kimpton Seafire Resort + Spa and The Residences at Seafire as well as the expansion and realignment of the Esterley Tibbetts Highway, with a vehicular underpass for safe pedestrian passing.
The newly expanded Owen Roberts International Airport was reopened by The Prince of Wales and The Duchess of Cornwall in March 2019. The upgraded airport facilities cost over US$67 million and allow for an improved travel experience for up to 2.7 million passengers per year.
Despite its size, the Cayman Islands offers much more than beaches and sun. As the world’ s fifth largest financial centre with a stable government, modern infrastructure, robust economy and world-class healthcare and education systems, the Cayman Islands has fast become the most vibrant, secure and prosperous Caribbean nation. Beyond question, the Cayman Islands is the exemplary location for investing in Caribbean real estate.