Cayman Is.: Living There - Tax Issues
In Depth
- Overview
- Price History
- Rental Yields
- Taxes and Costs
- Buying Guide
- Landlord and Tenant
- Inheritance
- Living There
- Useful Links
- Country Statistics
Find Property
Directory
Global Statistics
Regional Statistics
Living There
INDIVIDUAL TAXATION
There are no income taxes and capital gains taxes in the Cayman Islands. However, stamp duties are payable on most legal transactions, including leasing and selling real property.
RENTAL INCOME
Stamp Duty
Stamp duty is payable on leases of real property.
STAMP DUTY ON LEASE OF PROPERTY |
|
| LEASE AGREEMENT | |
| Up to 5 years | 5% on average annual rent |
| 5 years – 10 years | 10% on average annual rent |
| 10 years – 30 years | 30% on average annual rent |
| Over 30 years | 5% on the full value (gross amount) |
| Source: Global Property Guide | |
Tourist Accommodation Tax
Owners leasing properties to tourists are liable pay to tourist accommodation tax levied at 10% on the gross rent without any deductions. For timeshare properties, the daily charge is US$10 for each occupied room.
CAPITAL GAINS
No capital gains tax is levied in the Cayman Islands.
Stamp Duty on Transfer of Property
Stamp duty is payable on conveyance on sale of real property. The general rate is 6% but a higher rate of 7.5% is imposed along the Seven Mile Beach area.
PROPERTY TAX

No property taxes are levied in the Cayman Islands
RESIDENCY
Individuals who wish to become permanent residents in the Cayman Islands must apply for permanent residential status after six months' initial residence in the islands. Individuals of independent means are required to pay a one-time fee of CID15,000 (US$17,775) on grant of permanent residency. Permanent residential status entitles the holder to enter and reside in the islands at will, provided he does not engage in gainful employment without approval.
Cayman Is. - more data and information
Post a comment
Subscribe to our Newsletter!
Enter your email address to sign up.

RSS
Your Comments
posted by Mrs DianeYates | 2008-02-06
Marketing and Sales, Southport, England
If you are investing in a plot of land at 25,000,00.00 pounds is this acceptable in the Cayman island. what is the totla amount to be able to reside in the Cayman or to be able to have a holiday home