The Caribbean Sea is a playground for the rich, famous and those who have an investment in luxury apartments. Grand Cayman real estate is one of the most popular islands, where the investors are foreigners. A luxurious life in Grand Cayman, you will find higher prices in other Caribbean islands and neighboring countries.
Why Grand Cayman is so attractive
In view of the turquoise water on one side of Grand Cayman appeals to a lot of tax and financial benefits. Expatriates are free to open bank accounts, borrow money and buy real estate. The Cayman government has not the wealth, which means that the capital gains, income, wealth and inheritance taxes. Mortgage interest is deducted from the income tax in most countries, including the U.S., the Cayman government's strict privacy laws, to ensure that financial information is safe.
The most luxurious apartments Grand Cayman undermine the tax advantages, but most foreign investors can easily buy the house directly. Mortgage companies outside the Cayman Islands real estate loans are generally not in the Cayman Islands, because the company would not have legal recourse if the loan is in default. For this reason, many mortgage companies and banks to lend to foreigners and have experience in handling transactions, irrespective of the nationality of the buyer in the country
Buying property in Grand Cayman
Once the sale is not a one-off payment of 5.7 percent of assessed value of the house to fix the title. The stamp duty from 1 to 1.5 percent, it is necessary to buy homes mortgage. Like many homeowners in Grand Cayman value of privacy, many people buy a house in the name of a company that is registered in the Cayman Islands, to keep his name off the title.
As you can see, there are certain restrictions on investment in the luxury life in Grand Cayman. Although most investors use their homes in the Cayman Islands as a second home or vacation house, I want to ask some foreigners Thurs taken permanent residence in Iceland. More categories to consider the government to obtain permanent residency, including the wealthy retirees, entrepreneurs and investors in residence for 25 years. A recently approved bill granting a certificate of residence for companies to attract wealthy investors in the Cayman Islands. The cost of the certificate is $ 24,000 (USD), and allows the investor, spouse and dependents living in Iceland without a work permit. The requirements that a net worth of $ 6 million (KYD) $ 2,400,000 investment (KYD) a licensed company, which is 50 percent of the domestic workforce, such as the Cayman Islands and a criminal record in his homeland.
The islands attract wealthy investors due to tax benefits and privacy laws, but the main attraction is always the calm and beauty of the islands - a life of luxury at its finest.
