The Cayman Islands Government recently announced yet another good reason to buy property in the Cayman Islands and to buy it now.  While Cayman does not have any property taxes, there is a one time ‘Stamp Duty’ that is paid by the purchasor on closing – for years it was 6%, and now has been reduced to 5% -which is a saving of approx US$4000 on a CDL condo!   In addition to this, import duty on construction materials was reduced from 20% to 15%.   This incentive was put in place for 6 months-  So if you are interested in buying a beach front condo for your new vacation home – Cayman is the place and the timing is right.  Any new contracted buyer will receive a 5% discount on the purchase price.

This entry was poste on Saturday, April 11th, 2009 at 9:32 pm. You can leave a response, or trackback from your own site.