Frequently Asked Questions
Is it easy to buy land in Little Cayman?
What about taxes and stamp duty?
The Cayman Islands have a registered land system in which title is guaranteed by the Government via a modern, computerised and reliable Land Registry system which is open to public inspection for a fee. This allows potential buyers to examine the property records for liens, charges or other restrictions and facilitates quick and easy land transactions.
Although there are no ongoing property taxes a one-time Stamp Duty payment of 7.5% of the value of the property is assessed with a deduction being made for the value of any furnishing with the property. A 1% stamp duty is also assessed on any mortgage amount.
Are there restrictions on foreign ownership?
Raw land can be held indefinitely without development and there are no restrictions on foreign ownership.
Are there fees associated with building materials?
When building, import duties are also applied to most incoming items and the duties vary depending on the items. Presently, Cayman Brac and Little Cayman enjoy a moratorium on duty assessed on construction materials.
The Serenity of the Cayman Islands
Comprised of Grand Cayman and the sister islands of Cayman Brac and Little Cayman, the Cayman Islands are the prize of the beautiful western Caribbean. Renowned as one of the world’s largest financial centers with no direct taxation, this peaceful British Overseas Territory is located approximately 400 miles south of Miami, 180 miles south of Cuba and 195 miles northwest of Jamaica. With sandy beaches, gentle trade winds, breathtaking sunsets, a relaxed atmosphere, and world class dive sites, the Cayman Islands attracts tourists, new residents, entrepreneurs, and investors from around the globe.
Grand Cayman, the largest and most developed of the three islands, is approximately 75 square miles, with a population of approximately 70,000. The capital, George Town, is considered the financial hub of the country.
Cayman Brac and Little Cayman are located 90 miles northwest of Grand Cayman. Cayman Brac has a total land area of 17 square miles and is home to about 2,000 residents. Only a short 40 minute flight Grand Cayman, Little Cayman is as close to a private paradise as you could imagine and offers a simple, safe and relaxing lifestyle. With a permanent population of just over 150, it is the smallest and least developed of the three islands and is only 10 miles long and 1 mile wide. A nature lovers’ paradise, it is home to over 2,000 Cayman Rock Iguanas as well as the largest known breeding colony of Red Footed Booby in this hemisphere which is a RAMSAR site.
Little Cayman is the ideal location to own a truly unique piece of real estate. This unspoiled gem offers seclusion and striking scenery both above and below the water and epitomizes the definition of “an island getaway”.