cayman islands

There are many countries in the world which are very large in terms of area. But, do you know that there is an island which is many times smaller than Noida. But, a piece of land in this island is being sold for crores. Cayman Islands is spread over 264 square kilometers. At the same time, Noida is spread over approximately 203.32 square kilometers.

The Cayman Islands is a small British territory in the Caribbean, known for its tax-free economy and beautiful beaches, and for its luxury lifestyle. There is no income tax or corporate tax here, so companies and banks from all over the world keep their money here. Tourism and offshore banking are its biggest earnings.

Inflation is sky high

It is as beautiful as the island itself and it is tax-free. On the other hand, they are much more expensive. The price of a one room house here is also in crores. But, despite so much inflation, it is becoming the choice of the rich.

According to Global property guide, a 1-bedroom residential home in Grand Cayman, Cayman Islands typically costs $524,000. Which is approximately equal to Rs 4.35 crores. According to jamesedition website, the 4 bedroom house, which is in 5,408 square feet, is priced at Rs 23.88 crore.

The price of the 2 bedroom which is spread over 1,385 square feet is approximately Rs 5.54 crore. (This price may vary depending on the location and map of the house) There is no annual property tax in Cayman Islands, but 7.5% stamp duty has to be paid at the time of purchase.

Why are they expensive?

Actually, its inflation increases due to many reasons. Such as its remote location, limited land, tax-free economic policies and the increasing number of wealthy people settling here. Due to all these things, the prices of things are continuously increasing here. This inflation reflects the increasing demand for this place around the world and its local popularity.

The reason for inflation in the island is also its tax-neutral system. There are no direct taxes on income, corporate profits, land or capital gains. The government mainly raises revenue from import duty and business registration fees. Because of this even everyday things become expensive.

Tourism is also increasing inflation

Tourism also plays a big role in increasing inflation. The Cayman Islands is a popular tourist destination in the Caribbean. The number of visitors has increased steadily over the past 15 years, putting pressure on local resources and services and increasing prices.

Apart from this, many rich and foreign people come here to take up permanent or secondary residence. Their high incomes and living standards boost the local economy and property prices.

Connection with America is also the reason

Another reason is economic ties with America. The Cayman dollar is pegged to the US dollar and investment, tourism and financial activities come from the US market. Therefore, economic changes in America immediately affect the economy here.

Yet, despite such inflation, the Cayman Islands offer an excellent standard of living, security, stability and luxury.

Why is it becoming the choice of the rich?

Doing business in Cayman is easy because it is a British Overseas Territory, and there are no income or corporate taxes. Since 1960, it has become one of the most advanced banking centers in the world. Earlier it was a controversial place where illegal money was deposited, but now high-end investors come here. As of 2016, 60% of global hedge fund assets were held in Cayman.

Grand Cayman is just an hour’s flight from Miami and 3 hours from New York, with daily flights to several US cities.

But not only North Americans, but also entrepreneurs from Britain and Europe are coming to open offices here. They are setting up their businesses in Cayman Enterprise City to access larger markets in the US, Canada and Latin America.

Benefits of living in Cayman

1. It is a group of three islands, people of more than 135 nationalities live here.
2. This is a safe place.
3. The government is stable and the economy is strong.

Lifestyle in Caiman

1. Luxury resorts, clean beaches
2. Good education options, schools according to British and American education systems.
3. Extracurricular Activities: STEM Club, Water Sports, Roller Hockey.
4. Modern and specialist health facilities.

Real Estate and Investments:

1. There is no restriction on foreigners buying property for personal use.
2. There are good investment opportunities due to high economic growth and demand.
3. No annual property or capital gains tax on rental properties.

Visa and work/residence:

1. A 5-year renewable work/residency visa can be obtained in 5 working days.
2. No limit for employee and family, entire staff can be transferred.

How much more than Noida

According to the 2011 census, the population of Noida was 6 lakh 37 thousand 272. At the same time, according to the estimate of 2025, the population of Noida is around 9.3 lakh. At the same time, according to the 2025 report of Cayman Islands Worldometers, it is 76 thousand 376. Talking about inflation, the price of a 2 bedroom house in Cayman Islands which is spread over 1,385 square feet is approximately Rs 5.54 crore. At the same time, the price of a two bedroom flat ranges from Rs 80 lakh to more than Rs 1 crore.