Purchasing land and property
There are no restrictions on foreign ownership of land in the Cayman Islands. A modern land registration system is run by the Government’s Department of Lands and Survey. Stamp duty is payable on transfers of land and mortgage deeds.
Stamp duty and other charges
Stamp duty is payable on all real estate transactions. Depending on the location a one-time fee of either 6 per cent or 7.5 per cent of the purchase price or market value of the property, whichever is higher, applies. Stamp duty within the extended Seven Mile Beach / George Town Corridor is 7.5 per cent. In all other areas the stamp duty rate is 4 per cent for Caymanians and 6 per cent for non-Caymanians.
Details of applicable rates to individual properties can be found at caymanlandinfo.ky
Other charges associated with purchasing typically include:
A 1 per cent duty is charged on mortgages of less than CI$300,000 and 1.5 per cent on mortgages of CI$300,000 or higher.
Approximately 1 per cent for legal and registration fees.
When building a house, stamp duty is payable only on the land value and not on the building after it has been built.
When transferring, a Transfer of Land form (which costs CI$50) is required to be registered at the Lands and Survey Department. Other forms may be required.
When purchasing with bank financing, a valuation by an accredited firm is required and costs CI$350 and upwards, depending on location, type of property, etc.
More information for investors:
Cayman Islands Chamber of Commerce
PO Box 1000, KY1-1102,
Macdonald Square,
2nd Floor, Fort Street,
George Town
(345) 949-8090
caymanchamber.ky
info@caymanchamber.ky
Department of Commerce and Investment
Cayman Corporate Centre,
27 Hospital Road,
1st Floor, PO Box 10087,
Grand Cayman, KY1-1001
investcayman.ky
investment@dci.gov.ky