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Many factors combine to make real estate purchase in the Cayman Islands a safe and predictable investment. In no particular order, here are ten of the main reasons the real estate industry thrives here. 

 

1/ Location 

Location is often cited as the main determining factor of the value of a specific property. The same concept applies generally when considering the Cayman Islands. 

 

Located in the middle of the tranquil, blue Caribbean Sea, the Cayman Islands boast a temperate climate that seldom sees temperatures above 90F or below 70F. 

 

Cayman's remoteness in the Caribbean and its lack of mountain river run-off help maintain ultra-clear waters near shore making for some of the best scuba diving in the world. 

 

Adding tropical plant life, beautiful white sand beaches, and a short flying distance from the United States to the formula and it's easy to see why the Cayman Islands are seen as a paradise to many of our visitors. 

 

2/ Advantageous Tax Regulations 

The Cayman Islands impose very few forms of taxation upon its people. This holds true for its foreign investors as well.

 

With regard to real estate ownership, the Cayman Islands assess no regular property taxes or capital gains taxes. 

 

There is also no tax due to the Cayman Islands government for other income derived from real estate investment such as rent or dividends. 

 

Unlike many countries, the Cayman Islands have no restrictions on the foreign ownership of real estate for personal use. Land can be owned by any adult individual (either alone or with others jointly or as proprietors in common), or in the name of a company. 

 

Additionally, the islands-wide cadastral survey and implementation of the Registered Land Law in the1970's took away the risk of previous ownership claims on property. Every piece of property in the Cayman Islands is registered under a unique block and parcel number, and ownership belongs to the registered owner of the property, and the Government guarantees that right of ownership. There is no need for extensive title searches or title insurance. 

 

The Land Registry in a matter of public record, and for a nominal fee, anyone can inspect or get a photocopy of a particular Land Register which will show not only the registered owner, but any liens, covenants or other restrictions on the property. 

 

There are also no time deadlines for foreign investors to build on raw land; it can be held undeveloped indefinitely. 

 

4/ Political Stability 

Many British Overseas Territories in the Caribbean rushed into independence in the years following World War II, often with harmful results. Not the Cayman Islands, where they have happily remained under the gentle rule and protection of the UK. 

 

Caymanians by-and-large govern themselves, but within a tried and true framework developed by the British. Moreover, the Caymanian Government is keenly aware of the country's position as a financial and investment centre, and the requisite of remaining stable in investors' eyes. 

 

5/ Social and Economic Stability 

Very few places in the world can combine people from 100 different countries, with a make-up of every possible race and income bracket, and experience the kind of social harmony found here in the Cayman Islands. 

 

Buoyed by one of the world's highest per capita incomes and a natural tolerance for racial difference, the people of Cayman have not only learned to live together, but to respect each other as well. 

 

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Families and friends flocked to Boatswain's Beach to enjoy the marine adventure park's second and third instalment of its 'International Celebrations' on Friday 4th July and Monday, 7th July. 

During the Fourth of July celebration, a 1,500-strong crowd enjoyed fireworks, a special barbecue, tunes by red White and Blues and a carnival atmosphere complete with cotton candy, pop corn and face painting treats. Hundreds also flocked to Schooner's Bar and Grill to sample the scrumptious American buffet. 

Cayman Day celebrated all things Cayman, provided great musical entertainment by Lammie, games for the entire family and a sumptuous Cayman buffet. 

Both events, as well as Canada Day on Tuesday 1st July sought not only to entertain but also to celebrate families and traditions across three nations. 

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As part of The Central Caribbean Marine Institute's (CCMI) effort to raise public awareness about the importance of the marine environment, marine biologist and author, Dr David Gruber delivered a reef report in Cayman. 

At the first of three such presentations for 2008, held 3 July at the Cracked Conch, Dr Gruber spoke about bio-fluorescense in the marine environment. 

The Department of Environment's John Bothwell began the evening by thanking the CCMI for educating the public on the importance of the marine environment, and then welcomed Dr Gruber. 

With the goal of proposing new conservation measures for deep and shallow reefs, Dr Gruber recently returned from an in-depth research project called ROV Deep Reef Exploration, which investigated the relations between the shallow and deeper reef ecologies using an ROV (remote operated vehicle), called the 'Little Tyche'. 

Conducted in the beautiful azure waters, located just feet away from the Central Caribbean Marine Institute (CCMI) on Little Cayman, Dr Gruber worked closely with Dr Carrie Manfrino, CCMI Director, to examine the health and ecology of the deeper waters of Bloody Bay Wall. 

"I came here with the intention of taking a good look and characterizing the Bloody Bay Reef so I could raise more awareness about this amazing natural resource in Cayman," he expressed. "It is absolutely beautiful, and from what I saw, trust me; I will do my best to raise awareness." 

His address to the small gathering at The Cracked Conch was also based on his recent book 'Aglow in the Dark' (Harvard University Press), co-authored with Dr Vincent Pieribone of Yale University School of Medicine, that archives how surprising discoveries from corals and bioluminescent jellyfish have transformed modern biomedical science, and led to breakthroughs from neuroscience to cancer research; breakthroughs which might someday aid in connecting mind and machine. 

The young doctor is currently a Visiting Assistant Professor at Brown University and Assistant Professor of Biology and Environmental Studies at City University of New York Baruch College. 

"I got a chance to examine and understand the very sparsely examined resource in the backyard of Cayman and am happy for that," he explains. 

Regarding his quick yet fulfilling fact finding visit to the Cayman Islands, he says, with a smile and uncomplicated answer: "I loved it, and I will definitely be back to do more research." 

 

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Broadway musical enthusiasts will get a chance to enjoy the best of their favourite shows without leaving the comfort of the Islands, when Cayman Drama Society opens their new production tonight (10 July). 

With selections from The Lion King, Cats, Beauty and The Beast, Top Hat, Les Miserables, Chicago and many other Broadway classics, the group is presenting 'A Night of Broadway', An Evening of Song and Dance, at The Prospect Playhouse in Red Bay, featuring dancers from Miss Jackie's School of Dance and the Society. 

The event kicks off with a formal champagne gala this evening at 6:30 pm with other performances on Friday and Saturday, 11 and 12 July, at 7:30 pm. 

"Tonight is going to be remarkable, and with a red carpet the ladies and gents get an opportunity to dress up for the occasion," said Jackie Balls of Miss Jackie's Dance School. 

"I was doing choreography with the girls of my dance school and thought it would be a great idea to theme the show around Broadway hits, because I love everything about Broadway," she explained. 

Encouraging the whole family to come out and enjoy the event Miss Jackie added: "It's going to be a real treat." 

 

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After a preliminary meeting on Monday, 30 June, Air Jamaica and Cayman Airways jointly announced the two carriers have begun to explore several areas of cooperation, which would benefit both airlines. 

The discussions come on the heels of a meeting of Ministers of Tourism and International Transportation held in Antigua a few weeks ago where both airlines were present. The purpose of that meeting, said a joint press release, was to discuss the crisis facing the Caribbean region from the fallout in airlift resulting from the spiralling increases in the price of fuel and associated challenges in the airline industry. 

Both airlines agreed to meet and discuss areas of cooperation that could reduce costs and improve efficiencies. Jamaica and the Cayman Islands both need to attract North American tourists and the airlines agreed that ways need to be found not only to maintain but also increase airlift to their respective territories through joint cooperation. 

Attending the meeting from Air Jamaica were Shirley Williams, Chairman, and Will Rodgers, Acting President/CEO, along with other executives. Cayman Airways representatives comprised Chairman Angelyn Hernandez and Vice President Flight Operations, Olson Anderson. 

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