Investing in The Cayman Islands makes sense

Investing in The Cayman Islands makes sense

Fri, 05/14/2010

The Cayman Islands, a British Overseas Territory, is among the most prosperous of the island groups in the Caribbean. It comprises the islands of Grand Cayman, Cayman Brac, and Little Cayman, located south of Cuba. The territory is a major offshore financial centre in the Caribbean with more than 94,000 companies were registered in the Cayman Islands as of 2008, including almost 310 banks, 820 insurers, and 10000 mutual funds (source CIA World Factbook). The Cayman Islands is the fifth largest financial centre in the world and meets the highest criteria of corporate governance required for the regulation of its financial services industry.

 

With the 10th highest valued currency in the world, one of the highest standard of living in the world, its own stock exchange, no direct taxation and a distinguished financial reputation, the Caymans Islands are also a dominant player for investment properties in the Caribbean.

 

This attractive tax haven is uniquely attractive to those looking for an overseas second home in the Caribbean, a retirement residence or to relocate.

The Cayman Islands offer several benefits such as:

 

No direct taxation – there is no income tax, no inheritance tax, no non-residents tax, no capital gains or other similar taxes in the Cayman Islands

 

Stability and security – a stable government, sophisticated infrastructure and a strong economy based on international banking and tourism

 

Privacy – no reporting of income or ownership to any government agency

 

No restrictions on foreign ownership of real estate

 

Increasing population growth: World Factbook lists the Cayman Islands as the 34th fastest growing population in the world at 3.28 percent per annum

 

The legal system is based on the English common law

 

Modern land registration system: Cayman’s Land Registry system is well organized and up-to-date system which guarantees title as all deeds are registered in one location.

 

Caymanians enjoy one of the highest outputs per capita and one of the highest standards of living in the world.  A beautiful natural environment and many local attractionsThe Cayman Islands have an enormous amount to offer as an investment and lifestyle destination, and Cayman Islands are considered to offer a realistic and durable real estate investment strategy.