Tax is always an important question when considering the ownership and sale of property. Cayman has many desirable aspects with respect to taxes that make investment in Cayman Islands real estate a wise decision.
The Cayman Islands has always been an excellent market for real estate investment for overseas investors, with its close proximity to the United States, and offering stability and security as a British Overseas Territory, a plethora of ...
Some see the inking of these agreements as a further erosion of Cayman’s strict privacy laws that have helped the location build a successful wealth management industry for those who need to keep their financial affairs private for reasons of safety and so on.
Just over six years ago marked the start of the current ‘financial crisis’ when two CDO hedge funds run by Bear Stearns that had large holdings of U.S. subprime mortgages declared that they were halting redemptions
The Cayman Islands Government recently announced that it had concluded negotiations with the United States on a Model 1 intergovernmental agreement with regard to the Foreign Account Tax Compliance Act (FATCA) and a new tax information exchange agreement (TIEA) also with the U.S.
There is an underlying disdain currently being expressed globally, especially within North America and Europe, with regard to the way they are being taxed, with rising taxes choking investment choices and stifling growth. Such pressures have encouraged investors to look for better ways to seek investment returns.
The fallout of the improper disposals of Crown lands in the Turks & Caicos Islands has led to all manner of legal actions to unravel the past illegal transfers, as well as transparency and governance reforms designed to minimise the risks of similar events occurring again.
There are so many benefits that can be enjoyed by owning a property in the Cayman islands, not least of which is that it is a beautiful jurisdiction with year-round sunshine and just an hour’s hop from the States, so buying a home in the Cayman Islands should be at the heart of any investors wealth management programme.
These past few years have seen massive upheavals in the economies of many countries around the world, big and small, yet Cayman remains strong as a resilient jurisdiction that continues to offer a professionally skilled workforce second to none, opportunities for growth, innovation in development and a lifestyle that is still envied the world over.
Much discussion has taken place over the past couple of years on the need for Cayman to expand its reliance on its two traditional economic pillars – financial services and tourism – and its quickly developing third, real estate, and look to embrace new forms of industry that will fit seamlessly with existing business, while at the same time broaden Cayman’s economic reach.
Here we are in the middle of summer which is not the usual time for good news in the Caribbean real estate markets. And further, I am not known for trying to make positive predictions without good solid evidence to support it.
Hopefully amidst all the financial woes and gloomy predictions, we will all find time to give thanks for all the blessings we have received over this past Christmas Season.