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

There are no income taxes in the Cayman Islands. Rental income is subject to stamp duties on leases (property and land), and tourist accommodation tax.

Tourist Accommodation Tax

Owners leasing properties to tourists are liable pay to tourist accommodation tax levied at 13% on the gross rent without any deductions.

Stamp Duty on Mortgage

Stamp duty is payable at 1% for mortgages up to CI$300,000 and 1,5% for bigger amounts.

Capital Gains

No capital gains tax is levied in the Cayman Islands. Property sales are subject to stamp duties on transfers of properties.

Stamp Duty on Transfer of Property

Stamp duty is payable on conveyance on sale of real property at a flat rate of 7.50%.

PROPERTY TAX

No property taxes are levied in the Cayman Islands.