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How foreigners can buy land in the Cayman Islands

Thinking of buying a property in the Cayman Islands? We can assist you in every step to make an informed decision on buying a property. We have experience in Residential & Commercial Real Estate and offering a luxury service to all the clients in the Cayman Islands. Check out our Cayman Property view here : http://www.rickscaymanproperties.com/

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How foreigners can buy land in the Cayman Islands

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  1. Cayman Islands Real Estate Agent – Rick Burgos www.rickscaymanproperties.com (345) 623-4411

  2. About Rick Born in Belize, but living in the Cayman Islands for the last 44 years! I have had the distinct pleasure of experiencing and contributing to the most successful development era of these beautiful Islands. As a result, I am very familiar with the Cayman Islands Real estate market, the residents and the business processes. After 25 years as a banker, I ventured into Real Estate in 1992 and have been a solid producer with Coldwell Banker, winning annual international awards to the Diamond Society, the President's Circle and President Elite. www.rickscaymanproperties.com (345) 623-4411

  3. Buy Real Estate in the Cayman Islands Thinking of: • Buy real estate in the Cayman Islands for the first time • Upgrading currently owned property or • Any other investment opportunity Things you should know: There are no restrictions on foreign ownership and in fact foreign ownership is what has made Cayman grow the way it has over the past 40 years. Ownership can be verified by means of a simple check at the Land Registry and title is guaranteed by the Government, eliminating the need for title insurance. Title can be taken in a variety of ways including a corporation which does not reveal beneficial ownership. There is a government Stamp Duty fee on registration of title which is paid by the purchaser. www.rickscaymanproperties.com (345) 623-4411

  4. Buy Real Estate in the Cayman Islands Things you should know: For foreign owners a one-time fee of either 6% or 7.5% (depending upon the location) is paid on the higher of the price or fair market value of the property, but NOT on furnishings (chattels) purchased with the property. Stamp duty along West Bay Road, on the water in the Seven Mile Beach corridor, and in the downtown George Town area is charged at 7.5%. In all other areas the rate is 6%. Caymanians purchasing property falling within the 6% duty rate area pay 4%. www.rickscaymanproperties.com (345) 623-4411

  5. Buy Real Estate in the Cayman Islands Things you should know: Mortgage financing is available from some local banks generally between 50 % up to about 80% based on the three "C"s of lending CASH, ( how much of a deposit is being provided) CREDIT (what is the credit rating of the individual) , COLLATRAL )What is the value of the collateral being offered). A minimum of two years tax returns is usually required to verify income and employment information. Interest rates vary and are usually 1 to 3% above New York Prime. www.rickscaymanproperties.com (345) 623-4411

  6. Buy Real Estate in the Cayman Islands I can assist you every step of the way to making an informed real estate decision: • advising on choosing the right property • making an offer • arranging financing • placing your currently owned property on the market for sale • assisting you in pricing your property • marketing your property effectively • clinching a deal • As a member of CIREBA (Cayman islands Real Estate Brokers Association) , I have access to all listings - no need to call every listing agent individually. • Your time is valuable ? let me do the leg work for you! • Rick is your advisor and problem solver. www.rickscaymanproperties.com (345) 623-4411

  7. Contact RICKS Today! Address:1364 West Bay Rd, George Town, Cayman Islands Cell: (345) 916-1756 Phone: (345) 623-4411 Email: rickb.cirealty@gmail.com Website: www.rickscaymanproperties.com

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