With modern infrastructure, reliable utilities, quality homes and schools married to a consistently warm climate and old fashioned values, Grand Cayman offers much for those seeking to live there.
Living in Grand Cayman
There are many benefits to living in Grand Cayman. Some are better known than others. Such as the lack of direct taxes; income tax, capital gains tax and death and inheritance taxes. You can expect warm weather most of the time and beautiful beaches on hand.
Many people also love the lifestyle. A combination of laidback Caribbean culture, English home comforts and Americana.With so many people moving there from overseas, it has a warm and welcoming ex-pat community and there will be a steady flow of invites to barbecues and boat trips.
With stable government, good job opportunities and an affordable cost of living, now could be the time to consider your financial plans in Grand Cayman.
Cost of living in Grand Cayman
- Pint of beer – 5.00 CI$ (£4.40)
- Cappuccino – 4.50 CI$ (£3.90)
- Meal in a restaurant – 14 CI$ (£12.00)
- Monthly rent for 85m2 furnished accommodation – 2,300 CI$ (£2,000)
- Population – 64,420
Benefits of living in Grand Cayman
There are obviously some clear fiscal and weather benefits to living in Grand Cayman. However, it has much more to offer beyond these well known benefits.
For the size of the island, there are a myriad of opportunities for professionals in the fields of investment, professional corporate services, accountancy and law. Many renowned international professional services companies have offices on the island.
The Cayman Islands is a self governing British Overseas Territory. It has a stable political system that is build on a foundation of restrained civil governance that has been in place for decades. This stable and predictable governance is a key reason why so many come to the island for investment purposes.
Grand Cayman is renowned for its Seven Mile Beach, a spectacularly beautiful stretch of sea and sand that is ideal for relaxation. The island has an array of gorgeous coves and hidden gardens. Not to mention the enchanting azure Caribbean Sea and its divers’ delights.
Property/Real Estate Benefits
If you choose to settle in Grand Cayman and buy property, whilst it’s not guaranteed, you can be confident of expecting good return rates. Foreigners can easily buy property and there are no restrictions as well as no inheritance or death taxes.
However, there is no getting away from the fact that one of the key benefits to living on Grand Cayman is the lack of income or corporation tax. The government funds investment through indirect taxes, such as duty on imports. This lack of direct taxation has been the driver behind Grand Cayman becoming a hugely successful offshore financial services hub.
Best places to move to in Grand Cayman
Each area of Grand Cayman has its own benefits and charms, but here are four neighbourhoods to consider.
A short drive for Seven Mile Beach on the west side of Grand Cayman, the district of West Bay is ideal for both luxury oceanfront and canalfront living.
This quiet neighbourhood is perfect for families who enjoy quieter, more relaxed living and sits just outside of the capital George Town.
On the north side of the island Rum Point is ideal for people who enjoy a laid back lifestyle and outdoor activities.
Seven Mile Beach
Famous for its gorgeous clear waters and beautiful stretches of sandy beaches, Seven Mile Beach is one of the most sought after areas for luxury property on the island
Managing your finances in Grand Cayman
We work to ensure that our clients are matched with the right financial products and services wherever in the world they live.
Our representatives can assist you with the full range of financial matters and wealth management services, including inheritance tax planning, pension planning, pension transfer schemes, savings and investments.
We listen to you to ensure that our expertise is fully directed towards helping you achieve your objectives.
Why not talk to Blacktower’s independent financial advisers to plan for a more secure and prosperous financial future today. Contact us and we can arrange a call at a time that suits you.