Lime Tree Bay Cayman Islands ** For Sale **

Location: Lime Tree Bay Ave.

Size: 1,077 sq.ft

2 bedrooms, 2 bathrooms

Fantastic location in appreciating area next to the Ritz Carlton, this is an end unit on the second floor with stunning views across Mitchell's Creek and Governor's Harbour. Recently renovated, new A/C, new hurricane impact rated windows and much more ... 

Asking Price: $318,000 US

5 Things to know when Buying Real Estate In the Cayman Islands

If you are looking for a great opportunity for purchasing international real estate, you might want to set your sights upon purchasing property in the Cayman Islands. There are many benefits to purchasing real estate in the Cayman Islands, including the fact that there is no capital gains tax, no income tax and no inheritance tax charged to property owners. Still, before you start your Cayman Island property search, there are a few things you should keep in mind in order to guarantee the best possible experience.

1. Choose the Right Broker

One of the most important things you can do when purchasing Cayman Island real estate is to select the right broker to assist with the process. Not all brokers are experienced with international real estate transactions, so be certain the broker you select has the necessary experience and knowledge to help you with the purchase process. Ideally, the real estate agent you select should have specific experience with buying and selling Cayman Island real estate. 

2. Know About Real Estate Laws

Before making a real estate purchase in the Cayman Islands, it is also important to become familiar with the appropriate real estate laws. In this way, you will be clear on all of the costs that are associated with the purchase. For example, while there is no direct form of taxation on the island, you will have to pay a one-time property transfer fee. Known as the “Stamp Duty,” this fee is generally due at the time of the closing. With the help of a lawyer who is experienced with international real estate transactions, you can find out more about this fee as well as other applicable laws surrounding your purchase.

3. Check with the Land Registry

In the Cayman Islands, all properties must be registered with the Land Registry. Therefore, it is in your best interest to check with the Land Registry in order to learn more about the property before making a purchase. At the Land Registry, you can examine records related to who owns the property while also learning more about any charges or restrictions that have been registered against the property.

4. Consider Opening an Account

It is possible for foreigners to open a bank account and to finance the purchase through a local bank. In general, local banks will lend anywhere from 70 - 80% of the property value to foreigners, so be sure to consider this option when looking for the best loan deal.

5. Think About the Future

Many people who purchase property in the Cayman Islands are looking for an investment property that can be rented out to tourists. Therefore, be sure to think to the future when purchasing a property. In other words, consider the location of the property and its potential for drawing in tourists and a regular rental income. In this way, you will be certain to get a good return on your investment.

2010 Hurricane Names

The National Hurricane Center released the following names for 2010 hurricanes…
Alex, Bonnie, Colin, Danielle, Earl, Fiona, Gaston, Hermine, Igor, Julia, Karl, Lisa, Matthew, Nicole, Otto, Paula, Richard, Shary, Tomas, Virginie, Walter

Grand Cayman's Secret Harbour

(GRAND CAYMAN) - Michael Ryan of Orion Developers, owner and developer of several residential enclaves associated with the Ritz-Carlton, Grand Cayman resort is close to breaking ground on his newest community of homes called Secret Harbour.

Secret Harbour, much like Ryan's nearby Dragon Bay community, is heavily influenced by the best British Colonial designs and will begin construction June 16. While sailing the world over an 11-month period - exploring the Caribbean and Mediterranean to Portofino, Venice, Singapore, Penang and Hong Kong - Ryan collected ideas, images and revelations from the most perfect harbor communities in history.

By mixing modern-day luxuries and contemporary European-style living, and having a location just 410 nautical miles south of Miami, Ryan believes Secret Harbour can be yet another compelling maritime village for the making.

"The British Colonial style forms the basis of so many great communities, each tailored to suit their own particular location," Ryan said. "As a coastal destination and British Overseas territory deeply rooted in heritage, cosmopolitan population and multi-cultural society, Cayman was the perfect place to construct this adaptation to life."

Secret Harbour plans went through seven complete iterations before the explorer's interpretation was transformed. Secret Harbour is the focal piece of the greater 360-acre Dragon Bay community development - the Cayman's only sea-to-sea luxury resort community with established residential enclaves at The Residences and The DeckHouses.

SecretHarbour'sVenetian-inspired residences, which start from $899,000, boast arching 10-foot high ceilings and 10-foot high glass window walls, and rooftop terraces and panoramic views of the North Sound, establishing a lifestyle of seamless indoor and outdoor living. With over 60 percent of the residences already purchased from pre-construction sales, Ryan's vision and fundamental goals have already proven successful.

One-bedroom to three-bedroom residences, Harbour Lofts and an exclusive Club Penthouse units are enhanced further by interior design options from the renowned design team of D'Aquino Monaco and unlimited access to the amenities and services of the $650 million Ritz-Carlton, Grand Cayman resort. Among the on-site activities: a Greg Norman-designed Blue Tip golf course; Silver Rain, a La Prairie Spa; five restaurants including Blue by Eric Ripert of Le Bernardin; a tennis center with programs designed by Nick Bollettieri, and the Ambassadors of the Environment by Jean-Michel Cousteau eco-adventure family program.

Dragon Bay's lifestyle is further enhanced by its Endless Service program, which includes interior designed turnkey furnishings, a fleet of luxury automobiles and 36-foot Intrepid motor yachts available for use when in residence.

According to the developer, the Cayman Islands has no legal restriction on ownership of real estate by foreigners in the Cayman Islands. All land is recorded in a registered system maintained by the government and can be held by individuals, or in the name of a company. Grand Cayman has no sales tax, no income tax, no capital gains tax, no property tax and no inheritance tax, and local banks will generally lend between approximately 50 to 75 percent of the property value to non-Caymanians.

Investing in The Cayman Islands makes sense

The Cayman Islands, a British Overseas Territory, is among the most prosperous of the island groups in the Caribbean. The territory comprises the islands of Grand Cayman, Cayman Brac, and Little Cayman, located south of Cuba and northwest of Jamaica. The territory is a major offshore financial centre in the Caribbean with more than 93,000 companies were registered in the Cayman Islands as of 2008, including almost 300 banks, 800 insurers, and 10000 mutual funds (source CIA World Factbook). The Cayman Islands is the fifth largest financial centre in the world and meets the highest criteria of corporate governance required for the regulation of its financial services industry.

With the 10th highest valued currency in the world, one of the highest standard of living in the world, its own stock exchange, no direct taxation and a distinguished financial reputation, the Caymans are also a dominant player for investent properties in the Caribbean.

This attractive tax haven is uniquely attractive to those looking for an overseas second home in the Caribbean, a retirement residence or to relocate.

The Cayman Islands offer several benefits such as:

No direct taxation – there is no income tax, no inheritance tax, no non-residents tax, no capital gains or other similar taxes in the Cayman Islands

Stability and security – a stable government, sophisticated infrastructure and a strong economy based on international banking and tourism

Privacy – no reporting of income or ownership to any government agency

No restrictions on foreign ownership of real estate

Increasing population growth: CIA World Factbook lists the Cayman Islands as the 34th fastest growing population in the world at 3.29 percent per annum

The legal system is based on the English common law

Modern land registration system: Cayman’s Land Registry system is well organized and up-to-date system which guarantees title as all deeds are registered in one location

Caymanians enjoy one of the highest outputs per capita and one of the highest standards of living in the world.  A beautiful natural environment and many local attractionsThe Cayman Islands have an enormous amount to offer as an investment and lifestyle destination, and Cayman Islands are considered to offer a realistic and durable real estate investment strategy.

Cayman Islands - Batabano Carnival

Cayman Carnival Batabano History

Cayman Carnival Batabano was launched in 1983 by the Rotary Club of Grand Cayman. Held annually during the first week of May, it is undoubtedly one of the main highlights of Cayman's entertainment calendar.

"Batabano" was the original name of Cayman Carnival, chosen as a salute to Cayman's turtling heritage - Batabano refers to the tracks left in the sand by turtles as they drag themselves onto beaches to nest. Finding turtle tracks on the beach was and still is reason to celebrate in Cayman, thus, Cayman Carnival Batabano.  More info ...

Reef House 10 plex - South Sound

Location: 481 South Church St

10X 2 bedrooms, 2 bathrooms 

Each unit is 825 sq.ft

Located in South Sound, this ten-plex building has just been reduced by $500,000 CI! This complex is a solid investment opportunity. The units are presently being rented between $1300 and $1500 CI per month. This complex can be bought, renovated and sold as individual units.

Asking Price: $1,200,000 CI