The Cayman Islands are a “British Overseas Territory” consisting of three islands in the Caribbean: Grand Cayman, Cayman Brac, and Little Cayman. They are renowned for their natural beauty, as well as for being a popular financial haven for expats and retirees moving to the Cayman Islands, as there are virtually no taxes on any goods, services, or business related matters.
As someone who has lived in the Cayman Islands for more than a decade, I’ve come to appreciate just how special and unique this place truly is. It’s more than stunning beaches and turquoise waters—it’s a thriving community with endless opportunities for work, life, and play. From its vibrant culture to its business-friendly atmosphere, Cayman has something for everyone, yet, I’m often surprised when I travel and meet people who know so little about this incredible destination. It’s time to change that! Here are my top 10 ten things to know if you’re thinking of moving to the Cayman Islands.
#1. A Thriving Economy
The Cayman Islands punches way above its weight economically. As a global financial hub, it’s home to thousands of hedge funds, banks, and insurance companies. Add a booming real estate sector and strong tourism industry, and you’ve got a recipe for economic dynamism. For investors, it’s like finding a pot of gold—except you’re surrounded by warm turquoise waters.
#2. Tax Advantages That’ll Make Your Accountant Smile
If high taxes make you cringe, moving to the Cayman Islands might feel like a dream come true. Cayman’s tax-neutral status is a dream come true. No income tax, no capital gains tax, no property tax. Yes, you read that right. You get to keep more (in fact, most!) of your hard-earned money while enjoying a lifestyle that feels like a permanent vacation.
#3. A Booming Real Estate Market
The real estate market here is hotter than a Caribbean summer. Demand for luxury homes, beachfront villas, and upscale condos is sky-high, and properties tend to appreciate consistently. Whether you’re eyeing a rental investment or your dream home, the opportunities are as vast as Seven Mile Beach.
#4. World-Class Infrastructure
Who says you have to trade modern amenities for island life? Moving to the Cayman Islands offers high-speed internet (great for Zoom meetings with a view), state-of-the-art healthcare (at places like Health City), and excellent schools like Cayman International School. It’s the perfect blend of island charm and first-world convenience.
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#5. Safety and Stability
Cayman is one of the safest places in the Caribbean, with low crime rates and a politically stable government. For anyone moving to the Cayman Islands, Peace of mind is a luxury you can count on here, and thats truly priceless.
#6. A Tourism Powerhouse
With its stunning beaches, vibrant coral reefs, and world-renowned diving spots, Moving to the Cayman Islands is a magnet for tourists. Whether you’re investing in a hospitality venture or just enjoy mingling with visitors from around the globe, tourism is a cornerstone of this thriving community.
#7. Residency Opportunities
Cayman rolls out the red carpet for investors and retirees. Programs like permanent residency through real estate investment make it easier than ever to call this paradise your forever home. Think of it as your golden ticket — minus the chocolate factory.
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#8. Strategically Located… But With Some Drawbacks
While Cayman’s location is highly convenient, with direct flights to Miami, New York, Toronto, and London, the truth is it’s still a relatively small island in the middle of the ocean, which means most products and services need to be shipped in. This can create some issues that you will definitely want to factor into your decision to move here or not.
For one thing, the cost of living here can be high. Everyday expenses like groceries, housing, and utilities can be significantly more expensive due to import reliance. Another wrinkle about island living is limited entertainment options. While the natural beauty is undeniably stunning, residents have been known to express at times, a frustration with the dearth of cultural and recreational activities.
Finally, the biggest island elephant in the room: yes, Moving to the Cayman Islands have been known to experience a hurricane or two, and severe storms are a threat every year (Hurricane season is from June to November), but the good news is that the majority of hurricanes in the region tend to go north of Jamaica.
#9. Cultural Vibrancy
From the Cayman Cookout (calling all foodies!) to Pirates Week (yes, we embrace our swashbuckling history), Cayman’s events are packed with energy and charm. Add in Batabano, our colorful carnival, and you’ll never run out of reasons to celebrate island life.
#10. Natural Beauty That Speaks for Itself
Pristine beaches, world-class diving, and lush mangroves make Cayman a natural wonderland. Whether you’re snorkeling with stingrays or kayaking through bioluminescent waters, nature here is your playground. And let’s be honest, sunsets never get old.
Moving to the Cayman Islands isn’t just a place to live; it’s a lifestyle. Whether you’re looking for financial growth, family-friendly amenities, or simply a slice of paradise to call your own, there’s never been a better time to invest in Cayman. So why wait? Cayman’s calling—and trust me, you’ll want to answer.
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If you’re thinking about moving abroad and are looking for information about asset protection, cross-border transactions, second citizenship programs, or global investment, contact Joel Nagel and Nagel Law.
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Anna-Mari Ormond is a real estate agent with Ten Sails Property Group and an active member of the Cayman Islands Real Estate Brokers Association (CIREBA).
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