Wednesday, February 16, 2011

Strata in Cayman Islands Real Estate

When making the decision to purchase property in the Cayman Islands, multiple-unit, individually owned complexes or condominiums are definitely an option. In Cayman, these units are known as "strata" units. If individuals purchase a property which is part of a strata plan, they will have title to the house or apartment on the property in the plan. Individual unit owners hold title to their units in the same way as the owner of any other parcel of land, and the Land Register maintains the same type of records for these strata units. Owners will also retain a share of the strata corporation which owns all the common property including roads, gardens, pool, gyms, tennis courts, etc.

All strata corporations have "by-laws" which govern the activities of strata owners. These by-laws are upheld by a committee which is elected annually to govern and run the corporation. It is important to understand the strata by-laws as they can restrict individual owner's activities such as boat docking or pet ownership.

The strata corporation provides insurance for the strata property and has the responsibility to maintain it for all shareholders.
All costs associated with maintenance and insurance are also the responsibility of individuals in the strata corporation. It is important to understand how much extra you can expect to pay the corporation for these monthly strata fees.

Your Cayman Islands Realtor can assist you in these matters and answer any questions you may have regarding strata ownership.

Wednesday, February 9, 2011

Little Cayman District Committee of the National Trust Easter Auction Team--2011

Dear Fellow Members, Donors and Friends of Little Cayman:

Once again it is time to ask for your generosity and support to the Little Cayman District National Trust Easter Auction.

This will be our 19th Annual Easter Auction on Sat, April 23, 2011 at the Little Cayman National Trust Building. Yes, Easter is approaching fast and we are asking for your support and we thank you for any previous participation. The Little Cayman District National Trust had a good 2010 auction and we thank all of you for making this possible.

Funds from this auction will be used for designated projects on Little Cayman, which support the mission of the National Trust of the Cayman Islands. The mission of the National Trust for the Cayman Islands is to preserve natural environments and places of historic significance for present and future generations of the Cayman Islands.

As the event continues to grow each year, enticing more and more people to attend, it brings more attention to the donations that have supported the Trust efforts, and to the names of those supporting the event. We are asking for your support again this year with donations of merchandise, services, or other items worthwhile for auction.

We have a live auction and a silent auction making all donations significant.

The National Trust is close to the hears of many people. There are many sub-committee members working on this event, and so you may hear from more of our eager volunteers. "Pardon our enthusiasm!"

We look forward to hearing from you in the very near future.

For shipments outside the Cayman Islands, the best way to send the package is Fed Ex for guaranteed arrival. All parcels must have a packing slip with a value and inoice and marked as a donation bcause we do have to pay duty on all items valued over $50.00. If they are not marked as a donation or gift, we pay as they value it. Please see speical IMPORTNAT PACKAGING DIRECTIONS BELOW.


Little Cayman District National Trust
PO Box 35
953 Guy Banks Road
Little Cayman KY3-2501
Cayman Islands


Gladys Howard: 
Phone: 345-948-1010
Fax: 345-948-1011
Email: piratept@candw.y

Debbi Truchan:
Phone: 345-948-0112

Betty Bua-Smith:
Phone: 345-948-1077
Cell: 325-1097

National Trust Grand Cayman:
Erika Walton
Office: 345-749-1121
Phone: 345-749-1129

Please note on:
Customs Delcaration: Gift or Donation to the National Trust and you must have a declaration of value if handmade or an invoice for the purchased items as we have to pay duty on anything over $50.

If you are unsure of how to proceed please email us for further information.

Wednesday, February 2, 2011

Reasons to Invest

Investing in Cayman Islands real estate has never been more advantageous. 

Due to the recent global economic recession, the market has led to property values dropping. Sellers have become more competitive and have lowered prices and improved the quality of their holdings. Some market areas are showing discounts of 10-25% on sales prices. As a result, Cayman real estate holdings represent an excellent value for money. 

The Cayman Islands is a tax free jurisdiction. The government does not impose income tax, property tax, capital gains tax, or inheritance tax. Anyone can invest in Cayman real estate without restriction, no partner is necessary and residency is not mandatory. There is a one-time stamp duty on real estate at the time of purchase which varies from 5-7.5% and higher based on location. 

There are no restrictions on foreign ownership of real estate for personal use.  Individuals and companies can own property in the Cayman Islands. The land registry system is well organized and the government guarantees title as all deeds are registered under a unique block and parcel number. Land transfers are secure and expeditious. The Land Registry is a matter of public record, anyone can investigate a property for ownership, liens or covenants for a nominal fee.

Combined with a low crime rate, stable government and close proximity to US gateways, investment opportunities in the Cayman Islands has never been better. Contact a reputable Cayman Islands real estate agent and own your piece of paradise today!