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- FAQs ( Frequently Asked Questions)
What is CIREBA?
CIREBA is the Cayman Islands Real Estate Brokers Association, a local professional and self-governing body that operates the MLS (Multiple Listing System). Click here to read about CIREBA.
What is the MLS?
CIREBA’s Multiple Listing System is the most comprehensive database of property for sale in the Cayman Islands. You can search by price, location, size and view.
Do I have to look for Cayman property with Multiple Agents?
No, not at all. All CIREBA members have access to a the full MLS database (a more detailed version of the public site), so once you have chosen the right agent to work with they can do the find the perfect Cayman property for you, using their knowledge and expertise of the local market and the MLS. Milestone Properties Cayman will make your property search easy and effortless, and guide you to making the right move in the Cayman real estate market.
Are there really No Annual Property Taxes in the Cayman Islands?
Yes, that’s right! There are no annual property taxes, nor are there capital gains or inheritance tax. Rental income is not taxed in the Cayman Islands either. There is a one off stamp duty, paid by the purchaser on the transfer of property and based on the market value of the property.
Can anyone purchase property in the Cayman Islands?
Yes, any individual or individuals can purchase Cayman real estate. There are no restrictions on foreign ownership in the Cayman Islands. Cayman property can be held in a company name also, however it needs to be locally registered.
Can Cayman property be purchased in more than one name?
Yes, more than one name can go on the property title at closing.
Who guarantees property title?
The Cayman Islands government guarantees title and all ownership records are available for public inspection at the Cayman Islands Land Registry.
Is buying property a complicated or difficult process?
No, buying Cayman property operates on internationally recognised standards, and closing time can be as little as a week or up to several weeks if financing is required. Should you require further assistance in your Cayman property purchase there are many legal, banking and valuation professionals well versed in the process.
Is building a Cayman home complicated or difficult?
All Cayman construction projects must go through the Planning Department which uses the Miami Dade County Building codes which are amongst the strictest in the world for storm resistant construction. Ask Milestone Properties Cayman for further details on the steps to be taken to build your own home or development. Again there are many architectural, general construction, and project management professionals that can help you through the process.