In James Hilton’s 1933 fictional novel Lost Horizon, he describes a mythical paradise called Shangri La. Looking around the world, today, Grand Cayman could very well be a modern-day version of Hilton’s Shangri La.
Since around Summer of last year, we have been able to live a normal and healthy life in the Cayman Islands COVID free and completely safe. Anyone arriving in Cayman has had to quarantine for 14 days to ensure they are COVID free before they re-enter our community. This ensures the vulnerable segment of our population is not at any risk.
We are not wearing masks. We have no debilitating restrictions whatsoever. There is no need for this here. Restaurants, bars, shops, and offices are open. Large gatherings for functions like charity events and sports are commonplace with people gathering together in large groups… everyone here is just having a normal life!
Our government had been criticized over the years for the large surplus that they had built up and were maintaining. Today, we are one of the very few countries in the world who have not had to use borrowed funds, or print money, to get through this crisis.
We are tax neutral with no income tax, annual property tax, capital gains tax, sales tax, etc. and will remain that way, as we don’t have to tax our way out of this crisis from being deep in debt. This bodes extremely well for anyone investing in Cayman to realize much better returns and not have to pay for a mounting tax burden that is common almost everywhere else.
The result of the responsible way in which our government has handled the COVID crisis and our country’s budget is that we are completely safe, unrestricted, and tax free with a strong economy. Due to this, we have become a highly sought-after destination for new residents and second homes.
Considering the additional attributes that Cayman has to offer – gorgeous beaches, safety, British territory, high quality infrastructure, low density - why wouldn’t you want to visit, reside, and invest here? The cost of our real estate is far less than many other destinations with only a few of the many amenities we have to offer.
The infrastructure improvements currently underway and planned for this country are tremendous and quickly ramping up. The improvement over the next 10 years will be dramatic, but in a very positive way for our resident’s livelihoods and those who were smart enough to have invested here.
Every year, Cayman is an even better place to live and visit. Don’t be that person in 10 years’ time, saying you wished you would have invested 10 years ago. That time for you is now.