Q. Can anyone purchase property in the Cayman Islands?
A. Yes, any individual can purchase Cayman real estate. There are no restrictions on foreign ownership in the Cayman Islands.
Q. Who guarantees property title?
A. The government guarantees title and all ownership records are available for public inspection.
Q. Is buying property a complicated or difficult process?
A. No, Cayman operates on internationally recognized standards, and closing time can be as little as a week or up to several weeks if financing is required.
Q. What is involved in arranging for new construction?
A. Construction projects must go through the Planning Department which uses the Southern Florida Dade County Building codes which are amongst the strictest in the world for storm resistant construction. Ask a Properties of Cayman agent for further details on the steps to be taken to build your own home or development.
Q. Can property be purchased in more than one name?
A. Yes, more than one name can go on the property title at closing.
Q. Do banks lend funds to foreigners for property purchase?
A. Yes, banks will lend up to 70 % of the appraised value of the property to foreigners.
Q. I see the word CIREBA listed on all property listings. What or who is this?
A. CIREBA is the local professional MLS (Multiple Listing System) and stands for Cayman Islands Real Estate Brokers Association.
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