Cayman Is.: Taxes and Costs
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Absolute tax freedom
in the Cayman Islands
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 on Lease of Property
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.
Cayman Is. - more data and information
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