Discover the 5 reasons why Cayman’s real estate industry is on a high.
The Cayman Islands Government recently revealed its Budget for 2020 and 2021 and confirmed what we have been discussing for some time now – our real estate industry’s worth to…
Blog Posts
Why Cayman is currently a great place in which to invest
A topic point recently came up in one of our regular agents’ meetings that I thought worthy of discussing further. Is the value of a Cayman Islands property only in…
Short-term Rentals: Approach with caution
Short-term rentals at Cayman Islands A cursory glance at a new market whereby owners can supplement their income with one of the most popular short-term rental websites (Airbnb.com), is showing…
Cayman’s real estate market: Is there a tipping point?
It is no surprise to anyone that the real estate market in the Cayman Islands has been booming now for several years. Prices continue to rise in nearly all market…
Follow up to the Iconic Tower at Grand Cayman discussion
Further to my article published in July on the pros and cons of the prospect of an iconic tower to be built on Grand Cayman, I felt the need to…
Pros and cons of an iconic tower for Cayman
I know I promised an article on volumetrics this month, but following recent discussions on Dart’s proposal to build a skyscraper tower, I thought I would look at this subject (in the meantime we are busy gathering information for an article on volumetrics next month). The tower proposed will be similar perhaps to the 160-storey Burj Khalifa in Dubai or the former 104-storey World Trade Centre in New York. Plans to create a new skyline for Grand Cayman recognisable the world over were first unveiled by Premier McLaughlin at this year’s Cayman Economic Outlook conference, and have been the subject of a lot of discussion ever since, including at the Chamber of Commerce’s Economic Outlook event.
Cayman-sponsored driver wins British F3 race
Josh Mason, who spent much of his childhood in the Cayman Islands, won his first race of the year in his RE/MAX Bovell Team-sponsored F3 race car at the second British F3 Race at Donington Park in the United Kingdom on 23 June.
Changes in Stamp Duty – what it means for buyers
By the end of this year the Government will close the loophole in the law that allows buyers to only pay Stamp Duty on the cost of the land on which their property will be built, should construction not yet have started and not again later on once the property has been completed (the so-called two-contract transaction).
Economic substance rules can be great for Cayman Islands
In March the Cayman Islands avoided being placed on the European Union’s blacklist of countries which are, what they term, uncooperative when it comes to their tax practices; however, we have been placed on a grey list which means we must pass laws to ensure that companies in Cayman meet the EU’s economic substance rules. This means companies domiciled in the Cayman Islands must show a physical presence here, in terms of staff and offices.
Cayman already geared up to take on board new economic substance rules
The issue of economic substance is not a new one for the Cayman Islands, as the subject was much talked about some years ago and this was a motivating factor in the development of the Cayman Enterprise City project. As a result, Cayman passed its Cayman’s Special Economic Zones Law in 2011. Businesses located within CEC have been growing steadily in numbers since it first opened its doors to the likes of technology, media, intellectual property, shipping, aviation, commodities and derivatives trading businesses that wanted to establish a physical presence in a tax-neutral jurisdiction such as ours while meeting globally recognised economic substance requirements.