The Cayman Islands are a British Territory and have a colorful past of seafaring, turtling, and in the very early years, being a hideaway for pirates. These islands used to be governed by Jamaica , with both countries being ruled by Great Britain. When Jamaica declared independence from Great Britain , the Cayman Islands remained a British territory and have enjoyed the stability and protection that comes from remaining within the British empire .

About 40 to 50 years ago, most Caymanians had to leave their country and go to Sea as merchant marines and sailors to support their families. Since then, the Cayman Islands have developed their financial and tourism industries. From these humble beginnings, the country has grown into the fifth largest financial center in the world. Tourism has grown from a fledgling industry to what is now the country's largest industry employing more people than any other business.

The country is very stable with virtually no crime or poverty and has one of the highest standards of living in the Caribbean Tourism is embraced by the local people, who are some of the most welcoming and friendly of anywhere in the world. The Cayman Islands are comprised of Grand Cayman, Cayman Brac, and Little Cayman . Grand Cayman is the focus of the tourism industry and financial center. It has some of the most spectacular beaches you will ever find, all around the island.

The real estate industry in Grand Cayman has been extremely robust, as vacation condominiums, villas, and homes have been built over the years to satisfy the increasing demand for second homes from overseas tourists. The island is now about to experience a new phase of growth, with added infrastructure and five star accommodations being built in prime locations around Grand Cayman . This growth in tourism accommodations and second homes is unprecedented, both in volume and quality.

For those who invest in this next phase of growth and development, the rewards will be great. Second home investors and tourists will have the best choices of locations and prices. The Cayman Islands are truly a tropical paradise and have more repeat visitors than any other Caribbean destination.

Probably the best time to visit is January, February and March, when the climate is mildest. Water temperatures range from 78°F to 82°F in the winter and 82°F to 86°F in the summer.

There is little difference in the length of the days between summer and winter. Sunset is about 6:00 pm in December and at about 7:00 pm in June. No adjustment is made for daylight saving time. Because the climate is tropical maritime, there are two rainy seasons in Cayman: the first from May to June and the second in September through November. Rainfall throughout the year comes in sharp, heavy showers, although the puddles soon evaporate under the warm sun.

The hurricane season runs from June to November and usually peaks in August and September. Hurricanes cannot be accurately predicted in any given year. The last hurricanes to directly impact the Cayman Islands were "Gilbert" in September of 1988 and "Mitch" in October of 1998.

The Cayman Islands are only 1.2 hours flight from Miami, flights are available from numerous US Cities... The Islands are serviced by American Airlines, Delta, Continental, Northwest, US Air and Cayman Airways.There are also direct flights from the UK on British Airways and from Canada on Air Canada.

No taxes, readily available finance and no restrictions on foreign ownership make Grand Cayman real estate an attractive investment.

Restrictions on Foreign Ownership
There are no restrictions imposed on foreigners wishing to purchase real estate in the Cayman Islands. Property can be held in the names of individuals or a corporation.

Mortgages
Non-residents are permitted to open bank accounts and take out a mortgage. They are generally taken over a 10 to 15 year period and the deposit required is typically 10 – 35% of the purchase price. Rates are typically prime plus 1 or 2%.

Taxation
There is no income, capital gains or inheritance tax. The only tax payable is stamp duty of 5% on the purchase price of the property and 1% on any mortgage (1.5% on mortgages above CI $300,000).

The Island Resort and Residences