Investing in the Cayman Islands
Posted by Rebecca Sale on 25 th in Cayman Islands property news, Investment Property, Land Investments, News on 25th of December 2010The Caymans have no property taxes and investing in land in the Cayman Islands is advantageous from the tax perspective also. There are also no direct personal or corporate taxes in this tax-neutral British territory. Cayman Island land investments are also secure real estate investments because the territory is politically stable, has sound regulations operating under British Common Law and good infrastructure.
The Caymans have been rated as the fifth largest financial center in the world and renowned financial institutions like UBS and Merrill Lynch have set up offices there. Tourism is the other major industry in this Caribbean Island with extensive waterfront, coral reefs and long beaches facing the sparkling waters of the Caribbean Sea. The islands offer top grade facilities for diving, snorkeling and other water activities.
Land Development in the Cayman
Land developments need permission from the Planning Department and must conform to the land use guidelines indicated in the Development and Planning Law (2003 Revision), Development and Planning Regulations (2003 Revision), and the Cayman Islands Development Plan.
Applications for permission are made to Central Planning Board in Grand Cayman and the Development Control Board in the sister islands of Cayman Brac and Little Cayman.
All such applications have already been approved for any Cayman land investment opportunities offered by Buy Property Overseas.
Land for Investments in the Cayman Islands
Developers have already done the homework and made several layouts available for investors. Plots in these layouts come with full infrastructure such as asphalt roads connecting to main roads, electric power and water supply. For certain layouts, building permissions have also been obtained and the plots come with a full suite of architectural and construction documents.
Interest free finance extending over five years is also available. The finance agreement can include an optional developer buyback clause under which investors can assure themselves of guaranteed yields. In return for giving the developer an option to buy back the property at 20 percent above the purchase price, investors can get assured annual returns of 12 percent in year one. The yield will steadily accumulate to 20 percent over the five years.
The options provide the opportunity to invest abroad under British Law.
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