Expat Cayman Islands

For those looking for a warm tropical climate, beautiful beaches and one of the best tax havens in the world, the Cayman Islands should not be overlooked. The Cayman Islands has a strong reputation for its wonderful tax haven it provides to thousands of wealthy individuals and corporations. Besides being the ultimate tax haven, for many expats the Cayman Islands is a wonderful place to relax, get some sun and enjoy the pristine beaches and some of the top diving spots in the world.

Climate

The climate in the Cayman Island is near perfect. The weather is great all year round and while the temperatures can get hot, there is a nice breeze provided by the trade winds. There is a dry season and a rainy season. The dry season starts from December to April and the rainy season lasts from May to November. Besides some rain, hurricanes can be problematic during June to November. Temperatures usually range from the 70's to the 80's.

Government

The government of the Cayman Islands is an overseas territory of the United Kingdom. It is extremely easy to visit the Cayman Islands and no visa is required. The government is very stable and has a thriving economy. The Cayman Islands is extremely developed and besides tourism boasts a strong banking industry. You can find out more information about entry and residency requirements at the Cayman Islands Department of Tourism.

Tax System

One of the reasons that the Cayman Islands are so popular with expats is its tax haven status. In the Cayman Islands, there are no local taxes, no income tax, resident tax, capital gains or many other taxes that are common in the US and the UK. Besides no taxes, there is also a strong privacy policy in place in which individuals and corporations do not have to report income to any government agency.

Medical Care

The medical care on the Cayman Islands is quite good and very comparable to what one would expect in the United States or the United Kingdom. Although medical facilities are more than adequate, certain illnesses and injuries will require medical evacuation to the states.

For those working for companies on the island, you should be able to receive private health insurance, for expats that own their own business or are categorized as tourists, you can also purchase private plans or just purchase travelers insurance that include a medical component in the case that you need to be evacuated to the states.

Real Estate

The real estate market in the Cayman Islands is open to foreign ownership. There are no real estate restrictions. Real estate on the island is priced moderate to astronomical depending on the location and property. However, for those looking for short term accommodations, you can usually rent or lease an apartment, condo or home starting at about $1,500 per month to about $4,000+ per month for top locations.

Shopping

You can easily find all the necessities in the Caymans, however since everything must be shipped in, you may not find certain items and will need to ship them in personally. The Cayman Islands has plenty of shops including luxury goods and services and many markets for bargain hunting tourists that visit the island via cruise ship daily.

Regarding entertainment, you can find plenty of entertainment around the island, including great restaurants, night clubs, bars and lots of water sports. There are also plenty of pristine beaches and world class scuba diving spots around the island.

Cost of Living

The cost of living on the Cayman Islands is usually rated as moderate to expensive. Housing is much more expensive than in the states and the same is true about transportation, goods, food and entertainment. However, if you make a decent income, you will easily be able to live comfortably and enjoy life on the Cayman Islands.

Extradition from The Cayman Islands

The laws of extradition from the Cayman Islands are set by the Extradition Treaty Between the Government of the United Stats of America and the Government of the United Kingdom of Great Britain and Northern Ireland.