SIPP Approved Investments in the Cayman
Posted by davidr on 23 rd in Caribbean Investments, Cayman Islands property news, Personal Pensions, SIPP Investments on 23rd of November 2010Self-Invested Personal Pensions or SIPPs are a UK government approved personal pension scheme that allows individuals to invest in certain HM Revenue & Customs (HMRC) approved investments. The individuals can manage their own investments by making and switching them as they choose. The land products available on this site, including Cayman real estate, have received such approval by a regulated pension administrator..
What this means is that you may be eligible to buy land in the Cayman Islands with your Self Invested Personal Pension funds instead of using your own savings. The only condition is that the investment must be approved by an FSA regulated Independent Financial Advisor. We can help you arrange a consultation with a regulated IFA.
Earning Returns on Your Investments in the Cayman
Certain property investments in the Cayman Islands involve a developer buyback agreement. These include investments in:
- The Dubli Golf & Beach Resort in Grand Cayman,
- The Little Dolphin Estate in Cayman Brac, and
- The Lakeside Estate and the Little Cayman Estate in the Little Cayman.
Your SIPP approved investments in the Caribbean properties above can earn assured returns of 6 percent per annum if you opt to enter into a buyback agreement with the developer. Under the buyback agreement, you give the developer an option to buy back the property at 20 percent above the price you paid during a period of five years after the investment. In return, the developer will pay you 6 percent of the purchase price for five years, providing a total return of 30 percent on the investment over the five year period.
Even if the developer exercises the buyback option earlier, you will get your full five year return with a final compounded payment representing the return amounts for the remaining period.
Why Buy Land in the Cayman?
The Cayman Islands in the Caribbean is British Territory with a Governor appointed by the UK Monarch and a Legislative Assembly elected by Caymanians. All land transactions, including creation of any charges on the land, are recorded electronically by the Land Registry section of the Land and Survey Department. Land use is governed by planning regulations and zoning practices are in place.
What these mean is that your land investment is safe. Government allows foreigners to own land in the Cayman with freehold title and you can build a dream Caribbean villa on the land after obtaining a building permit (which the developers will help you with).
The Cayman Islands is not only a top Caribbean tourist destination but also the fifth largest financial centre in the world. The group consists of three main islands, Grand Cayman with its Seven Mile Beach and North Sound Lagoon, Cayman Brac with world-class rock climbing facilities offered by The Bluff that rises vertically 140 feet above the Caribbean Sea and Little Cayman with the world’s top wall diving facility of an underwater cliff that goes down vertically up to 1000 feet to the ocean bottom.
By buying land in the Cayman with your Self Invested Personal Pension, you join an elite group of wealthy retirees and the high net worth employees of the financial centre. Can you afford to miss this opportunity?
