Cayman Resident 2025

the design exemplar

Our motivation over the past two decades has been to create interiors with a sense of character that is not only beautiful but livable for our clients. As Cayman’s Design Exemplar, our highly skilled creatives bring years of expertise and unparalleled value to our projects.

2025

Letter from the publishers

Go Digital

Acorn Media mailing address: PO Box 31403

Grand Cayman KY1-1206 Cayman Islands

Acorn Media physical address: 209 Alissta Towers

North Sound Road, George Town

Tel: (345) 946 3200 Fax: (345) 946 2830

Email: info@acorn.ky www.caymanresident.com

Welcome to the 22nd annual issue of Cayman Resident! It has been a joy working with our wonderful team at Acorn Media who check, research and update every piece of information contained in these pages and across our website each year, ensuring that we bring you the most up-to-date information. And we’re always adding new information that we think you — our valued readers — will find useful and interesting.

Thank you also to the many industry experts who have, once again, shared their wealth of knowledge and expertise so that we can in turn share that with you. The Cayman Islands are flourishing and much has changed in a year; the myriad of which is reflected in the following 480 pages, and on the Cayman Resident website (www.caymanresident.com).

Each year it is so interesting for us to delve into every aspect of what has been happening across our islands, from the prospering financial services industry, which has been superbly managed by highly educated members of our government and the private sector, to the booming construction industry that has been building new hotels, homes and schools, plus there are new restaurants and food festivals that we look forward to going to.

We really do talk about everything that is happening in the Cayman Islands and we answer questions that you might not have even thought to ask! Cayman is a wonderful place to live and work, where ‘Caymankind’ is a real thing, and our Community Life chapter reflects this with the dozens of social and service clubs, and charitable organisations that continue to help those in need and genuinely want to give back to our community. Long may this side of Cayman continue to blossom!

We hope you have a wonderful year ahead and we would like to wish you, your family and the whole Cayman community a very happy, prosperous and blessed 2025.

Charles Grover & Joanna Boxall

the Cayman Resident

Editor

Joanna Boxall

Sales

Charles Grover

Deborah Roberts

Design/Production

Julian Dalton

Michelle Pankhurst

Researchers/Copy

Editors

Emily Richardson

Rosita Ritch

James Sedgley

Jessica Wright

Proofreaders

Lindsay Japal

Peta Adams

Contributors

Christine Ballantyne-Drewe

Monique Bhuller

Hilary Brooks

Michelle Butler

Shana Chin

Louise Desrosiers

JS de Jager

Lucy Frew

Nick Joseph

Ian Mason

Menelik Miller

The CUC team

Phillip Paschalides

Fleur Peck

Louise Reed

Claudia Subiotto

Darren Trickett

Benjamin Twidle

Jeanette Verhoeven

Joanne Zeigler

Photography

Cathy Church

Julie Corsetti

Rebecca Davidson

John Doak Architecture

Chuck Gloman

Cayman Islands National Archive

Daria Keenan

Jennifer Marshall

John Molyneux

Marc Montocchio

Courtney Platt

Lisa Reid

Jonathan Sparrow

Kathleen Spencer

Design Studio

Bryan Winter

Monika Wotkiewicz

Acknowledgements

To create the Cayman Resident magazine and website every year takes a team of dedicated staff and the willing participation of industry experts. We owe our heartfelt thanks to:

Michelle Butler from Design Studio who completely updated our Home Improvements chapter giving it a fresh and inspiring new perspective and direction.

Louise Reed and her team at the CML Group who shared their wisdom on the current state of the jobs market in Cayman, and advised on specific areas such as IT, accounting and legal services.

Claudia Subiotto from RE/MAX who wrote the ‘Overview of the Cayman Property Market’, updated us on all the new developments, plus advised on the status of buying a house in Cayman. Fleur Peck from Blue Point Consultants who shared her very detailed market report on what is happening in the world of property in Cayman.

Jeanette Verhoeven from Bogle Insurance Brokers who helped us update the insurance information across the Health, Settling In and Transportation chapters. She knows everything about insurance!

Louise Desrosiers from Travers Thorp Alberga who is the author of the Family Matters chapter

Nick Joseph from Reside Cayman again shared his expertise on Cayman’s immigration laws.

Menelik Miller at Appleby who helped us update all our insurance legislation.

JS de Jager from Cayman Management who updated the Independent Directors information.

Hilary Brooks from HSM who reviewed our endof-life medical laws, as well as the information we have on Wills and probate.

Also, special thanks to the team at Walkers (Cayman) LLP who again helped us update large sections of our financial services information: Christine Ballantyne-Drewe who helped us update the investment funds, fund administration and investment business information in various chapters.

Monique Bhullar helped us update the Trusts section of the Cayman – A Global Financial Centre chapter.

Lucy Frew updated the sections on Jurisdiction of Choice, Banking in the Cayman Islands, Beneficial Ownership and Legislation to Meet Client Needs.

Ian Mason who updated the information we have on FinTech and Cryptocurrencies.

Philip Paschalides who reviewed and updated the information we have on single family offices and families relocating to Cayman.

Benjamin Twidle helped us review and update our information on Taxation in the Cayman – A Global Financial Centre chapter.

Joanne Ziegler helped us review and update the Structured Finance section, as well as the information on CLOs.

On The Cover

Our Cayman Resident 2025 cover photographs were taken by Julie Corsetti. We would like to thank Monyque Brooks for agreeing to be featured on the front cover, and to Julie Corsetti who took this beautiful photo of our 2025 cover model.

Special thanks to the photographers!

Last but not least we would like to thank the Islands’ wonderful photographers who have given us so many of their beautiful photographs to use in this issue. We need a wide variety of photos, from a cross-section of life in these Islands, and it is a huge task each year.

On a final note, we always welcome contributions, suggestions or photos to make this magazine even more informative and visually appealing each year. If you are a budding photographer and would like to get some of your photos published, then send us your best. As you can see, we publish a wide variety of images so don’t be shy! Contact Acorn Media on (345) 946 3200 or email: joanna@acorn.ky.

Marquee Plaza

The Cayman Islands

LIVING.KY

Experience a world of choice!

At Kirk Market, we go the extra mile to bring you fresh, local produce, trusted grocery brands, and authentic European products, all in one place.

Visit our Cheese & Charcuterie Department for an exceptional selection of European products, or explore our Meat & Seafood Department, which features Certified Angus Beef® PRIME cuts and the freshest seafood on the island.

If you're looking for a delicious meal on the go, our Salad Bar, Mediterranean Bar, and Hot Bar offer an incredible selection of local and international dishes, prepared fresh every day by our talented chefs.

Shop at Kirk Market, and experience a world of choice!

Sticks & Stones Home Collection has been providing the Cayman Islands with unique & eclectic home furnishings and design for over two decades. We are the exclusive supplier of Rowe & Robin Bruce upholstered furniture. Our showroom located on The Grand Pavilion Courtyard showcases a wide selection of our offerings that may always be custom-tailored to your home.

Tomorrow

CREATING FOUNDATIONS FOR

AT DART, we’re committed to creating a prosperous future, not just for our company and our people, but for the entire Cayman Islands.

For over 30 years, we’ve been attracting tourists, professionals and investment to the islands with our diverse portfolio in real estate, hospitality, retail and leisure.

But that only tells half the story.

We’ve also invested in education, healthcare and community projects. Built homes and offices with world-class sustainability credentials. Nurtured careers and empowered employees. Developed renewable energy solutions and resilient infrastructure. And created inspiring places to live, work and play.

Because we believe a better tomorrow starts with the foundations we lay today. dart.ky

George Town

Contributors 2025

Louise Desrosiers

Louise is the author of the Family Matters Chapter. Head of the Family Team at Travers Thorp Alberga, Louise is a highly experienced family law litigator and accredited mediator. Louise sits as an elected committee member for the CI Family Law Bar Association and a supervisor attorney for the Legal Assistance Clinic. Louise has almost 20 years’ experience, having been called to the Bar in England and Wales in 2006. She is an expert in dealing with nuptial agreements, divorce and ancillary financial matters. She has a wealth of experience with HNW divorces, that includes multi-jurisdictional asset tracking. She has an interest in family cases involving autistic children/parents, or those with additional needs.

Menelik Miller

Menelik helped us write and update the insurance information in the Cayman a Global Financial Centre chapter.

Counsel at Appleby in the Cayman Islands and Head of the Regulatory and Compliance group, Menelik practices in the area of financial services regulation, advising on regulatory issues and establishing newly regulated businesses, prudential regulatory considerations, corporate governance and strategic approaches and he has significant experience of regulatory inspections and other regulatory enforcement matters. Menelik has more than ten years of experience working with or for financial service regulators in the UK, Jersey, BVI and Cayman.

Benjamin Twidle

Benjamin helped us update the information we have on taxation in the Cayman a Global Financial Centre chapter.

Benjamin is a Senior Counsel based in Walkers’ Global Regulatory & Risk Advisory Group, which regularly acts for major financial services providers, investment banks, funds and investment managers. Benjamin advises on a range of regulatory matters, including FATCA and the Common Reporting Standard, economic substance, data protection and anti-money laundering and sanctions. He has also worked with large financial institutions on regulatory applications and submissions to the Cayman Islands Monetary Authority.

Louise Reed

Louise helped us update the information we have in the Working in Cayman chapter, and she helped us understand the current state of the jobs market in Cayman.

Louise manages operations and leads the executive search function at the CML Group, which is comprised of CML Offshore Recruitment, Nova Recruitment, and the career development non-profit, Connect by Nova. Louise has 20+ years of HR and recruitment experience, starting her career as a recruiter in the UK’s fast-paced commercial search and selection industry before moving to Cayman in 2008 where she headed up the financial services recruitment arm of CML.

Lucy Frew

Lucy updated information on beneficial ownership, legislation to meet client needs, banking and jurisdiction of choice.

Lucy is a Partner and is the head of Walkers’ Global Regulatory & Risk Advisory Group. She brings more than 20 years’ experience as a specialist financial regulatory and risk management advisory lawyer. Lucy’s clients are financial institutions across the international and domestic spectrum, including a range of banks, investment funds, administrators, investment managers, advisers, brokerdealers, arrangers, trading venues and insurance and reinsurance sector clients. She also has significant experience in advising on FinTech and virtual assets.

Christine Ballantyne-Drewe

Christine updated information on investment funds, fund administration, and funds and investment business in various chapters.

Christine is based in Walkers’ Cayman Islands office where she is a Partner in the Global Investment Funds Group. She advises primarily on the formation, operation and restructuring of investment funds and has extensive experience in both open and closed ended investment structures, as well as downstream corporate transactions. Christine advises a broad range of institutional asset managers, private equity sponsors, family offices and start-up and emerging managers.

Ian Mason

Ian helped us update the information we have on FinTech and cryptocurrencies.

Ian Mason is a Partner in the Regulatory & Risk Advisory Group, having joined Walkers’ Cayman Islands office in 2023. Ian’s practice includes both contentious regulatory work and advising on compliance matters, and he has particular expertise in advising on FinTech and crypto-assets, as well as financial crime, AML and economic substance issues, and advising clients on dealing effectively with regulators, including CIMA inspections, regulatory investigations and enforcement proceedings on the defence side.

Monique Bhullar

Monique helped us update the Trusts information that we have in Cayman Resident. Monique Bhullar is based in Walkers’ Cayman Islands office where she is a Partner in the Private Capital & Trusts Group. She advises high-net-worth individuals and families, trust companies, family offices and charitable organisations on all aspects of private trusts, foundation companies and other wealth and estate planning structures. She also advises on a wide range of Cayman Islands commercial trust matters, including the creation and administration of investment funds structured as unit trusts, securitisation trusts, liquidating trusts, employee benefit trusts and pension trusts.

People who have helped with this issue of the Cayman Resident

Nick Joseph

Over the years Nick has written, added to and updated our Immigration chapter - all of it!

With a BA in Psychology and Languages, and an LLB (Hons) in Law, Nick was admitted as a Cayman Islands Attorney at Law in 1997. Nick is a well-known Cayman Islands specialist in Cayman immigration, employment and licensing matters. He is the Founder of Reside Cayman and he and his team work extensively in the field of residency as it relates to assisting qualified persons in securing and (for those already here) maintaining their residence in the Cayman Islands.

Michelle Butler

Michelle updated the information on home improvements in the Cayman Islands.

Michelle is a trained architect who specialises in interior design. Working alongside her husband, David Wilson, they founded Design Studio Interiors Ltd, an award-winning firm based in Grand Cayman. Raised in both Canada and Cayman, Michelle combines her diverse cultural background with her passion for design to create stunning and functional spaces. Her ability to connect with people and understand their needs has been key to her success. Michelle is proud to contribute to the growth of the design community in Cayman, consistently delivering exceptional designs that enhance the lives of her clients.

Fleur Peck

Fleur is the author of a very detailed market analysis of the Cayman property market which she let us use to update our chapters.

Fleur is a Chartered Surveyor, registered valuer, member of the RICS and is the owner of Blue Point Consultants. She has 20 years’ experience in the property market having started her career in one of the top surveying firms in the UK. She has developed a strong reputation in the hotel and resorts sector on the valuations, consulting and sales side. Recent instructions include portfolio valuations of hotels for market value and insurance purposes, insurance negotiations after damage from hurricanes, as well as the sale of numerous hotels in Cayman.

JS de Jager

JS updated the information on Independent Directors in Cayman Resident.

JS is the Managing Director of Cayman Management and has overall responsibility for the diverse range of services provided by Cayman Management and its affiliated companies. JS is a dual Cayman Islands (naturalized) and South African citizen and holds a Bachelor’s Degree in Accounting from the University of the Free State, South Africa. He has a broad professional and commercial accounting background, having worked as an accounting and corporate governance professional in both general practice and industry, including experience in South Africa before he moved to the Cayman Islands in 2007.

Claudia Subiotto

Claudia completely rewrote the ‘Overview of the Cayman Property Market’ in the Finding a Home chapter, and she reviewed the current status of buying homes, land and condominiums in Cayman. Claudia has previously lived and worked in London, New York and Rio, and her past career in pharmaceutical sales – working under technical and extremely competitive conditions – has established a great foundation for working in real estate. As a member of the award-winning Bovell Team at RE/MAX, Claudia brings to the table her experience and contacts in the property industry, as well as her thorough knowledge of what it takes to live and work in the Cayman Islands.

Philip Paschalides

Philip updated the single family offices and families relocating sections of Cayman Resident. Philip Paschalides is based in Walkers’ Cayman Islands office and is a Partner in the firm’s Private Capital & Trusts Group, representing private clients and family offices on the financing aspects of crossborder transactions in which they participate. Philip leads a unique, specialist team which structures and establishes single family offices in the Cayman Islands and assists with the deployment of private capital in acquisitions and other commercial transactions. Philip was originally a structured finance lawyer and continues to do some work involving structured finance in the reinsurance sector.

Joanne Ziegler

Joanne helped us with the structured finance information, as well as the information on CLOs. Joanne joined Walkers’ Cayman Islands office in 2014 and is a Partner in the Finance team. She specialises in debt capital markets and structured finance with extensive experience in CLOs, securitisation and note programme structures, as well as bespoke structured products. Joanne also advises on listings on the Cayman Islands Stock Exchange, and regularly acts for asset managers, leading investment banks, financial institutions, public and private companies and leading on-shore law firms, advising on a variety of finance transactions.

Hilary Brooks

Hilary reviewed our End-of-Life Medical Laws and our Wills and Probate sections.

Hilary is a Senior Associate at HSM and a highly experienced attorney with a proven track record in Private Client matters and Labour and Employment Law. Hilary has exclusively practiced in the Cayman Islands since 2012 and has been a Notary Public since 2008. Hilary is proficient in preparing Wills, codicils and estate administration. Hilary studied law at the University of Liverpool, graduating with honours in 2009. Hilary then achieved a commendation from the Professional Practice Course from the Cayman Islands Law School in 2010.

About

Cayman

Cayman’s outlook, a history of the Cayman Islands, customs, traditions, festivals, legal and political systems, geology, flora and fauna, climate, business hours and dress code.

CAYMAN’S YEAR IN REVIEW & OUTLOOK

In April 2024, the revised National Energy Policy 2024-2045 was approved by Cabinet with an updated target to increase the amount of energy that Cayman derives from renewable energy to 70% by 2037 and 100% by 2045. Although the Caribbean Utilities Company (CUC) has allowed customers to connect their solar and wind generated power to CUC’s grid, only 3% of Cayman’s electricity currently comes from renewables. The ability for residents to generate and utilise up to 20 kilowatts of solar energy for personal consumption, as well as utilise battery energy storage is also included in the amended policy. It is hoped that this will reduce the Cayman Islands’ dependence on fossil fuels as the Islands try to adapt to the use of renewable energy.

Cayman welcomed over a quarter-million stayover visitors in the first half of 2024, a 6.5% increase from the same period in 2023. This is the third-highest number of visitors on record. Most visitors came from the United States, followed by Canada and Europe. Increased aviation capacity and new hotel openings are helping to contribute to an optimistic outlook for the tourist sector, which generates substantial revenue for the government. Airlines have added additional routes and flights resulting in a 15% increase in the number of seats available to the Islands, and thanks to the construction of new hotels, the room stock has expanded to 8,022 rooms across the three islands. Conversely, there was a notable decline in cruise ship arrivals, down 14.6% from 2023, which reignited discussions about building a cruise birthing facility.

Photos courtesy of the Cayman Islands National Archive

As development continues, and with land space in the George Town and Seven Mile Beach corridor running out, developers are building upwards. However, construction has been impacted by rising build costs, which have risen by 8.5% year-on-year according to a May 2024 analysis from BCQS. As a result of the rising costs to build, coupled with higher interest rates, land sales have slowed, and sellers have begun to reduce their listing prices.

Cayman’s prudent government planning and bonds issued in foreign and local currency, along with the Island’s strong fiscal policies, means that Cayman is financially one of the most robust countries in the Caribbean and is positioned to weather the challenges that the world economy faces due to rising costs and inflation rates. The Consumer Price Index for March 2024 revealed a 1.5% increase in total inflation from the previous year, with housing and utility costs increasing by 2.6%, healthcare prices by 2%, communication costs by 7.4%, education costs by 7.9%, and rents by 11.1%. CUC also increased their retroactive rate by 3.2% which will be partly offset by fuel efficiency savings from two of their large generating units.

Employees in the hospitality and service industry will see an increase in the minimum wage to CI$7 per hour starting 1st July 2025; the 25% gratuities benefit for these workers will be eliminated. However, the minimum wage for all other sectors remains unchanged at an impossible-to-live-on rate of CI$6 an hour. The Minimum Wage Advisory Committee (MWAC) recommended an increase to CI$8.75 per hour which would have benefited more than 10,000 people, but this has been rejected by the government due to the concern that this will lead to an increase in the cost of goods and services at a time when people are already struggling with the cost of living in Cayman. Instead, the MWAC will explore sector-specific minimum wages. Although this is a small step in the right direction, the overall unemployment rate has increased to 3.3% (October 2023) and prices continue to rise,

making living in Cayman very difficult for those on lower incomes.

In the first half of 2024, the Cayman Islands Monetary Authority issued 24 new international insurer licenses, representing a 50% increase compared to the same period in 2023. Currently, there are 700 Class B, C, and D insurance companies licensed in the Cayman Islands, with total premiums amounting to $40.39 billion and assets totaling $151.93 billion.

Moody’s credit rating for the Cayman Islands is Aa3 with a stable outlook due to Cayman’s political environment, strong policy continuity, high government effectiveness, sound financial management and economic growth. The Financial Action Task Force (FATF) has removed the Cayman Islands from its “Grey List” of jurisdictions under increased monitoring for anti-money laundering (AML) deficiencies. This decision follows Caymans’ successful implementation of all recommended actions and an on-site inspection by the FATF. The removal is expected to enhance our appeal for business and reflects the Islands strengthened regulatory framework and commitment to global AML standards.

HISTORY & POLITICS

Early Cayman History - 1503 to 1670 Christopher Columbus is credited with discovering the Cayman Islands. The explorer was on his fourth voyage of discovery when his ships, ‘Santiago de Palos’ and ‘La Capitana’, sailed past Cayman Brac and Little Cayman, on 10th May 1503. His son Ferdinand noted in his journal, “We were in sight of two small, low islands, filled with tortoises, as was the sea all about.” Columbus named the islands ‘Las Tortugas’ after the large number of sea turtles he saw. Columbus and his men didn’t stop. Worm-eaten and leaking badly, their ships laboured on until they had to be beached and eventually abandoned in St. Ann’s Bay, Jamaica.

Historians question whether Columbus was really the first person or even European to set eyes on the Cayman Islands. A full

year prior to Columbus’ journey, the three islands appeared on the 1502 Cantino map. Moreover, Queen Isabella of Spain authorised four other voyages to the New World in 1499. Aside from these facts, even if Columbus was the first European explorer to set foot in Cayman, at the time of his visit, there were as many as a million Carib, Taíno and Arawak Indians living in the adjacent coastal areas in the region. Archival research suggests that Cayman is a word of Carib-Indian origin, meaning crocodile. The Caribs and Taíno were proficient mariners, known to make ocean journeys in canoes up to 80ft in length. In Jamaica, thousands of Taíno Indians were living just up the current from Cayman, so it is probable that the Taíno were among Cayman’s first visitors.

In 1586, Sir Frances Drake and a fleet of 23 ships stopped in Grand Cayman for two days and recorded that the island was not inhabited, but that there were numerous crocodiles, alligators, iguanas and turtles.

In 1655, Admiral William Penn and General Robert Venables were sent from Britain by Oliver Cromwell to take Hispaniola Island from the Spanish. The so-called ‘Western Design’ failed as the English did not capture the Spanish stronghold; however, they did manage to seize Jamaica. Shortly afterwards, Cayman became a possession of Great Britain, following the signing of the Treaty of Madrid in 1670.

Piracy

By 1660, the English had established themselves in Jamaica and began treating the Cayman Islands as natural appendages of that larger territory. However, apart from small settlements on Grand Cayman and Little Cayman, most of the three islands were left untouched. This was ideal for pirates, since Cayman also lay astride the route of treasure galleons returning to Spain, laden with gold and silver from the New World. The promise of capturing Spanish treasure ships on their way home from the Caribbean soon attracted the attention of a motley crowd of buccaneers,

pirates and freebooters. The ‘Golden Age’ of piracy spanned from the 1650s to the 1730s. Cayman’s most notorious pirate was Edward Teach, also known as Blackbeard, who frequented the area from 1713 until his death on 22nd November 1718.

Despite the celebration of Cayman’s National Festival, Pirates Week, held in November each year, the piratical part of Cayman history is downplayed. However, some of the biggest names in buccaneering circles, including Lowther, Lowe, Morgan and Blackbeard, prowled the coasts of the Cayman Islands. According to Neville Williams’ book, ‘A History of the Cayman Islands’, the abundance of fresh water, turtle meat and wood, made Cayman an ideal landing spot. Furthermore, the islands offered pirate captains the possibility of finding crews to man captured vessels and a quiet location away from the authorities where pirates could hide their loot and careen and repair their vessels. This pirate’s haven, however, only lasted for about 110 years. By the 1730s, the scourge of the buccaneers had been largely tamed, if not discouraged, by the growing population.

Slavery

The first Cayman land grants by the English Crown were made in 1734 and it is likely that these first settlers brought slaves. The holdings were granted to Campbell, Middleton, Bodden, Spofforth, Foster and Crymble. In 1773, the cartographer George Gauld drew the first map of Grand Cayman for the Royal Navy. He made a note in the margin, marking the population at 400 – half free and half slaves. By 1802, when Edward Corbett did his census, the population of Grand Cayman had grown to 933, of which 545 were slaves. Interestingly, only two of the original founding families, Foster and Bodden, remain. It is possible some of these families returned to Jamaica with their slaves having found Cayman unsuitable for planting on a large scale. According to the book ‘Cayman Emerges’ by Bertie Ebanks, when slavery was officially abolished in 1833, there were around 985 slaves owned by 116

families. During this time, the population was 2,000, resulting in a ratio of about one slave to one non-slave. This makes Cayman very unusual compared to other Caribbean islands, particularly Jamaica, where the ratio was 10 slaves to one free man at the time of emancipation. In exchange for their freedom, the claims of the 116 Caymanian slave-owners totalled £447,765 pounds sterling.

To this day, Cayman has very good race relations and according to the author Gary Lee Roper, quoting from his book ‘Antebellum Slavery’, “Grand Cayman differs greatly from its neighbour Jamaica, in that there were no large plantations on the three small Cayman Islands, slaves were limited to the trades and domestic arts”. This is part of what differentiated the Cayman Islands from other slave-owning nations at that time. Although slavery existed in Cayman for about a century, it was not ultimately able to prosper because the main sources of industry on the Island were not in areas that were conducive to the slave trade, like farming and agriculture.

1700 to 1900

In the 1700s, permanent settlement of Grand Cayman began with a few families, most notably the Boddens. Between 1734 and 1742, five land grants in Grand Cayman were made by the Governor of Jamaica. At this time, mahogany and logwood were exported to Jamaica. In 1780, William Eden, a mariner and early English settler, established a cotton and mahogany plantation in Savannah’s Pedro bluff, building St. James (now known as Pedro St. James Castle), a remarkable building for that period and the only house on Grand Cayman to survive the devastating hurricane of 1784. In 1794 the ‘Wreck of the Ten Sail’ occurred and Cayman’s most popular legend of how Cayman became tax-free was born. In 1798, the Governor of Jamaica appointed the first magistrate in Cayman.

The 1800s saw the first census in 1802, on 5th December 1831, Pedro St. James was the site of a historic meeting of residents

who came together to select representatives for the five different districts. The meeting allowed for local laws to be formed for better government. Cayman’s first elections took place five days later, and on 31st December, the first Legislative Assembly met in George Town. The population at that time was approximately 2,000. Between 1830 and 1840, the first missionaries from the Anglican and Wesleyan churches arrived and the first schools were established, the Mico Charity and the Wesleyan school. In 1835, Governor Sligo of Jamaica landed in Cayman to declare all slaves free, in accordance with the Emancipation Act of 1833, and to help keep the peace in the abolition period. In 1846, the Presbyterian Church was established by the Rev. James Elmslie. In 1898, Frederick Sanguinetti, a British national, was appointed by the Governor of Jamaica as the first Commissioner of the Cayman Islands.

1900 to 1970s

In 1920, a major Education Act paved the way for the establishment of government schools in all districts. In 1937, the first cruise ship, the ‘Atlantis’, visited Cayman and the beginnings of tourism commenced with the publication of the first tourist booklet. However, tourism did not really take off until the 1950s when several hotels opened. Then, in 1953, Grand Cayman’s first airfield was built, which replaced the seaplane service that had operated in the North Sound since the 1940s. The year 1953 was significant for two other reasons, the opening of the first commercial bank, Barclays, and the first hospital, the Cayman Islands Public Hospital.

In 1959, Cayman enacted its first written Constitution, which granted women the right to vote. In the same year, Cayman ceased to be a dependency of Jamaica. In 1962, following Jamaica’s independence from England, Cayman chose to remain as a Crown Colony. In 1965, the Mosquito Research Control Unit (MRCU) began operating. In that year, the Chamber of Commerce was established, the Caymanian Weekly newspaper (later the Caymanian

Compass) began publishing and the Rotary Club of Grand Cayman was chartered. In 1966, landmark legislation was introduced to encourage the banking industry. In 1968, Cayman Airways started flying, and in 1970, the population reached 10,249 with a total of 403 visitors arriving that year. In 1972, a new Constitution was introduced under which Cayman would be governed by a Legislative Assembly, Executive Council and a Governor. In this same year, Cayman introduced its own currency. In the early 1970s, Cayman’s banking industry took off.

The Legal System

The Cayman Islands legal system is based on English common law, with the addition of local statutes which have, in many respects, changed and modernised the common law. The Islands have a good legal and judicial system, which is constantly being upgraded to enhance the Islands’ safety and reputation as a leading financial centre. The courts system is a simple one, with practice and procedure based on English law. Minor criminal and civil cases are tried by a Stipendiary Magistrate sitting in the Summary Court. All serious crimes and most civil cases are tried by the Grand Court, presided over by the Chief Justice and Grand Court Judges permanently residing in the Islands. Appeals lie from the Grand Court to the Cayman Islands Court of Appeal, which sits in Grand Cayman and, from there, to the Judicial Committee of the Privy Council in England. New residents, especially those from the US, may be surprised to find that barristers in court wear wigs and gowns.

The Political System & 2021 Election

The Cayman Islands is a parliamentary democracy with separate judicial, executive and legislative branches and holds its general elections every four years. Cayman has a ‘One Man, One Vote’ electoral system, with 19 districts and each represented by one Member of Parliament. As of December 2020, the LA became known as Parliament and MLAs became Members

of Parliament. Since the establishment of political parties in the Cayman Islands, a record number of candidates entered the 2021 race as independents and a total of eleven were elected. Six former Cabinet and Progressives members – Sir Alden McLaughlin, Roy McTaggart, Juliana O’Connor-Connolly, Dwayne Seymour, Joseph Hew and Moses Kirkconnell – were re-elected. However, after the much talked about ‘horse-trading’ – what locals call the period of time following an election when ministry assignments are decided – the independents, formed the government, and secured control of Cabinet.

Premier Juliana O’Connor-Connolly leads the Cabinet and holds responsibility for finance, education, district administration and lands. Deputy André Ebanks oversees financial services, commerce, investment, innovation, and social development. Kenneth Bryan is responsible for tourism and ports, while Isaac Rankine has youth, sports and heritage. Johany “Jay” Ebanks oversees planning, agriculture, housing, infrastructure, while Katherine EbanksWilks takes charge of sustainability and climate resiliency. Sabrina Turner has health, wellness, and home affairs, and Dwayne Seymour has border control, labour, and culture. Alden McLaughlin is the Speaker of the House. Roy McTaggart is the Leader of the Opposition, with Joey Hew as Deputy Leader. The next general election is scheduled to be held in 2025.

Relationship with the UK

The Cayman Islands has been connected to Great Britain since the signing of the Treaty of Madrid in 1670. From that time until 1962, Cayman was linked to Jamaica as a dependency. In 1962, Jamaica chose to become independent, but the Cayman Islands decided to remain a British colony.

In 2002, the Foreign and Commonwealth Office discontinued the use of the term ‘Dependent Territory’ and the Islands are now called an ‘Overseas Territory’. The Foreign and Commonwealth Office appoints a Governor, whose responsibilities cover a number of areas, including

national security, foreign affairs, police, immigration, passport office, postal services and other portfolios, such as broadcasting, district administration and the civil service. There is little desire among Caymanians for the Islands to become independent; they have seen what has happened to Jamaica and the Bahamas and they want none of it.

GEOGRAPHY

Geology

The Cayman Islands are the tops of seamount pinnacles reaching up from the Cayman Trench – one of the deepest sections of ocean in the world. The Cayman Ridge stretches from the Sierra Maestra mountain range in Cuba to the Gulf of Honduras. This ridge forms the northern margin of the Cayman Trench, which is 100 miles wide and reaches depths of around 25,000ft. The Islands’ position near the Oriente Transform Fault and the Mid-Cayman Rise means that the three Islands are separate uplifted fault blocks that were pushed up by friction between the North American and the Caribbean tectonic plates. According to the research of geologist Brian Jones, each Island appears to have a granodiorite foundation, which is succeeded by a cap of basalt and an uppermost layer composed of carbonates. These carbonates were created by living organisms such as corals, algae and shells, and were laid down during sea level changes over the past 30 million years.

Caymanite

Hidden away, under the jagged crust of Grand Cayman’s East End and the craggy cliffs of the Bluff in Cayman Brac, lie beautiful and mysterious mineral deposits. These rock strata, called Caymanite, are found only in the Cayman Islands and are well disguised by the surrounding limestone. Caymanite has layers of colours in earth tones, created by the different metallic contents of each stratum. Its hardness challenges any who work on it, but when cut and polished, the stone has radiant hues and can be transformed into unique jewellery and carvings. There is a

permanent Caymanite display at the Cayman Islands National Museum and pieces can be purchased at various places in Cayman, including the Museum, Artifacts and Pure Art Gallery.

Flora & Fauna

Cayman is world-renowned for its marine life, but there is much to see on land as well. Over 650 different species of plants, of which 415 are native, have been recorded in Cayman and the forests are far more diverse than those found in more temperate, northerly latitudes. Two of the best places to see the flora and fauna of Grand Cayman are the Queen Elizabeth II Botanic Park, where you’ll spot lots of the endangered Blue Iguanas, and the Mastic Reserve and Trail, which protects the largest contiguous area of untouched, old growth forest in Grand Cayman. Cayman Brac and Little Cayman are also particularly popular with bird watchers. In Cayman Brac, visit the Brac Parrot Reserve, and while on Little Cayman, see the Booby Nature Reserve, which is a major breeding ground for the Red-Footed Booby. Grand Cayman’s Bullfinch has recently been reclassified by the American Ornithological Society as an endemic species, Melopyrrha taylori, as it is only found in Grand Cayman. Cayman also has a colourful native green parrot that can be heard chattering amongst the trees on all three islands, especially at sunset. Frogs and lizards are common around houses, especially those near natural areas. Owls and bats can be seen at night while large, edible land crabs crawl across roads after heavy rains. The agouti is shy and rarely seen but can be spotted in the Eastern districts. Fresh water ponds attract migrating birds and are filled with hickatees, a species of aquatic tortoise, and tiny minnows. Much of Cayman is covered in wetland and large areas of mangrove wilderness, an essential breeding ground for fish and birds. Mangroves are now a protected habitat in Cayman and cannot be removed without authorisation. Their protection is a major objective of the National Trust for the Cayman Islands. To learn more about the practical health applications of Cayman’s flora and fauna, follow Bush Girl Medicine on Facebook and Instagram (@bushgirlmedicine).

Mosquitoes

Before the Mosquito Research and Control Unit (MRCU) was established in 1965, mosquito numbers were legendary. Reports were made of livestock being suffocated during the night and people did not venture outdoors without a smoke-pot to drive off the mosquitoes. In 1974 one mosquito trap, which is a tool still used today to survey mosquito numbers, caught 793,103 mosquitos in a single night. However, thanks to Dr Marco Giglioli, MRCU’s first director, numbers have fallen. He and his team dug a huge network of canals, ditches, dyke roads and paths into the wetlands and swamps, which serve as mosquito breeding habitat, and by manipulating the water levels of these wetland areas he controlled the pest by physical means. These dyke roads are maintained to this day and are used to survey standing water for the presence of developing mosquitoes.

Fact Sheet

Composition: Grand Cayman, Cayman Brac and Little Cayman

Location:

Grand Cayman – Western Caribbean, about 150 miles south of Cuba, 480 miles southwest of Miami, 180 miles northwest of Jamaica

Cayman Brac – 89 miles northeast of Grand Cayman

Little Cayman – 5 miles west of Cayman Brac

Capital: George Town, in southwest Grand Cayman

Size: 102sq miles/164sq km (total area of all three islands)

Grand Cayman – area: 76sq miles; length: 22 miles; average width: 4 miles; highest point: about 70ft above sea level

Cayman Brac – area: 15sq miles; length: 12 miles; average width: 1.5 miles; highest point: The Bluff – 141ft above sea level

Little Cayman – area: 11sq miles; length: 10 miles; average width: just over 1 mile; highest point: 40ft above sea level

Population: 84,738 (Fall Labour Force Report 2023)

National Income (2023):

Real GDP: CI$592.28 million (estimated)

Total Government Revenue: CI$846.1 million

Total Government Expenditure: CI$773.7 million

Net Operating Balance: CI$107.5 million

Core Government Debt: CI$469 million

Other Statistics (2023/2024):

Life Expectancy at Birth: 83.1

Hospital beds per 1,000 population: 2.7

Unemployment Rate: 3.3%

Total Work Permits: 37,334

Total Labour Force: 60,513

Total Civil Servants: 4,629

Average Inflation Rate: 1.7%

Total Imports: CI$1,112.1 million

Bank & Trust Licences: 94

Captive Insurance Licences: 673

Total Mutual Funds: 12,893

Private Funds: 17,020

Active Companies: 118,443

Air Arrivals 2023: 429,284; 2024 (Jan-Jun): 250,699

Cruise Arrivals 2023: 1,270,981; 2024 (Jan-Jun): 634,212

Main Industries:

Financial Services, Construction, Healthcare and Tourism

Political Status:

Overseas Territory of the United Kingdom (i.e. British dependency)

Nationalities:

Over 137 different nationalities are represented in Cayman, including Caymanian, Jamaican, Filipino, British, American, Canadian, Nepalese, a mix of Latin American and more.

When larval mosquitoes are found in the water MRCU uses a biorational insecticide to try to suppress the mosquito’s emergence. However, many thousands of inaccessible wetland acres produce mosquitoes as do areas of standing water, so trucks and planes are used to fog and spray these pests at dusk. MRCU’s Integrated Mosquito Management (IMM) programme has also been working hard at limiting mosquitoes produced in containers such as tyres, buckets, barrels and other water-bearing receptacles. The public are reminded to never leave water standing in upturned pots or tubs as mosquitos can breed in something as small as a bottle cap! Remember to check around your house after it rains.

CUSTOMS & TRADITIONS

Once known as the ‘Islands that time forgot,’ the Cayman Islands have been catapulted into the 21st century at, some say, an alarming rate. Over the last two decades there has been a determined effort to uphold a balance between preserving the essence and simplicity of the past, while still moving resolutely into the future. Many Caymanian customs and traditions are linked inextricably to religious holidays. Whether camping by the sea at Easter or hunting for land crabs during the rainy season, these events are social in nature and family-oriented. Visit East End on any given Sunday and you will see families and friends, recently returned from church, ‘shooting the breeze’ on their

front porches or enjoying a noisy game of dominoes under the shade of a breadfruit tree. Being up to date on the latest ‘Marl Road’ (gossip) is as important as drawing breath in the Cayman Islands!

The Traditional Cayman Home Caymanian homes, known as a ‘wattle and daub’ cottage, date back to the mid-18th century. Houses were usually rectangular, with foundation posts made from termiteresistant ironwood. Gaps between the ironwood or mahogany posts were filled with a basket weave of wattled sticks and then plastered on either side with lime daub made from burnt coral.

The earliest roofs were thatched using palm tree fronds, but in more recent times, wood, shingle or corrugated zinc have been used. Windows were simple openings with wood board shutters, while smoke-pots helped keep out mosquitoes. Normally, these one-storey dwellings would feature a steeply pitched roof. This would keep the houses cooler as hot air rises. The typical sandy yard would have been shaded with seagrape and popnut trees and there would be a separate ‘caboose’ for cooking.

Backing Sand

Family outings to the beach on weekends are a major part of Caymanian culture, but sand plays another very important role in Cayman at Christmas time. Unlike many parents around the world, Caymanians have always been able to guarantee their children a ‘white Christmas’. The tradition

Public Holidays 2025

Wednesday, 1st January New Year’s Day

Monday, 27th January National Heroes Day

Wednesday, 5th March Ash Wednesday

Friday, 18th April Good Friday

Monday, 21st April Easter Monday

Monday, 5th May Emancipation Day

Wednesday, 14th or 21st May (TBC) Election Day

Monday, 19th May Discovery Day (3rd Monday in May)

Monday, 9th or 16th June (TBC) King’s Birthday

Monday, 7th July Constitution Day (1st Monday in July)

Monday, 10th November Remembrance Day

Thursday, 25th December Christmas Day

Friday, 26th December Boxing Day

of ‘backing sand’ has stood the test of time. Often, beginning as early as October, Caymanians could be seen by the light of the moon carrying ‘ground baskets’, woven from leaves of the magnificent thatch palm trees that tower loftily over the islands, brimming with powder-white sand from the beaches. The sand would be deposited in the front yard and on Christmas Eve, raked into intricate patterns and decorated with shiny new conch shell pathways.

Catboat Regattas

Cayman’s proud maritime history has served to provide many lasting traditions. The Catboat, a simple sailing boat once used for fishing and turtling in and around Cayman waters, is enjoying a revival thanks to the efforts of the Cayman Islands Catboat Club. Regular regattas are held in Grand Cayman and the sight of these humble, yet skilfully crafted vessels tacking their way around George Town’s bustling harbour, vying for space amid cruise ships and dive boats, is a truly remarkable snapshot of the juxtaposition of past and present in Cayman.

Traditional Industry

Many years ago, the principal economic mainstay of the Cayman Islands was the hunting of sea turtles. However, there were other industries, including schooner building, sponge harvesting, gathering of seabird eggs, wrecking, guano collecting, catching sharks for the leather industry, felling and removal of hardwoods such as mahogany and cedar, barking of red mangrove trees and cutting of logwood for their use in dyes. Coconuts were exported, cotton was gathered, ropes were made from thatch and, from the late 19th century until the 1960s, Caymanians worked as merchant seamen on commercial ships.

Thatch Weaving & Rope Making

‘Laying rope’ was once one of the few means of making a living for Caymanian women and children while the men were away at sea. This valuable custom has been passed down from generation to generation.

Certain districts were known to produce the best ‘tops’ for cutting and people would often walk for miles to collect bundles of thatch, which would later be stripped, dried and twisted into fine fathoms of rope. This would then be traded overseas for goods such as cloth, sugar or kerosene.

Folk Music & Dance

Folk music and dance have been a part of Caymanian culture for decades. In order to preserve, celebrate and propagate the musical traditions of the Cayman Islands, the Cayman National Cultural Foundation formed the Cayman Islands Folk Singers. The company exists to help revive the folk music tradition in the Cayman Islands. The work it produces is reflective of the Caymanian image and helps us appreciate our place in the Caribbean region and the wider world. Since its inception, the group has been showcasing Cayman’s rich musical heritage through song. The Folk Singers have an impressive repertoire of Caymanian composition, as well as beloved songs from around the region. For more information, email: info@artscayman.org or ysch-admin@gov.ky.

Turtles & Turtling

When the first Europeans came to Cayman, they found one of the largest turtle nesting grounds on Earth. For nearly 200 years, ships of all nations, particularly French, Dutch and English, came to these shores to ‘turn’ green and loggerhead turtles and dry their flesh, an easily obtainable source of protein for ship or plantation stores. Early on, Cayman became the centre of the Caribbean turtle industry. By 1800, the turtle population had dwindled and the local turtling fleet turned their attention to the south coast of Cuba and the coastline of Central America. Until the early 1960s, Cayman ships still supplied the largest share of turtles entering foreign markets from the Caribbean. These were mostly caught on the Mosquito Coast of Nicaragua.

The Cayman Islands officially banned turtle hunting in 1988 and the species is now protected under international conventions.

The Department of Environment (DoE) began sea turtle nest monitoring in 1998 and in November 2023 a total of 1,003 nests were counted across the Cayman Islands. Properties on the beach with nonturtle-friendly lighting are the number one major threat to turtle conservation, but property owners are being urged to install amber lights.

Camping

Camping by the sea at Easter is a longheld Caymanian tradition. Popular spots to camp are beaches along the Queen’s Highway, Rum Point, Cayman Kai and Seven Mile Beach. Camping in Cayman is legal, but there are strict guidelines. These include removing all garbage, disposing properly of human waste, not camping on land which has a ‘Do Not Trespass’ sign on it and being very careful with lighting and burying bonfires due to nesting turtles. Permission must be sought from the Public Lands Commission (Tel: (345) 946 7110) to light a bonfire on public land. To rent a public beach cabana, visit https://app. univerusrec.com/cipwpub/.

TRADITIONAL EVENTS & HOLIDAYS

The Agricultural Show

Early Caymanians supplemented the sea’s bounty by subsistence farming. While organic farming has experienced a resurgence, the Department of Agriculture, in conjunction with the Agricultural Society, have been running the Agriculture Show for over 50 years. The show is a widely anticipated annual family event and provides farmers with an opportunity to sell their home-grown produce and display their livestock. There is also a wide selection of local produce, authentic dishes and handmade crafts available. Children participate in games, pageants, horseback riding and the petting zoo. The Agricultural Show is a testament to the love the people of these Islands have for the land. Held on Ash Wednesday, it is not to be missed!

Easter

Easter is a very festive time in Cayman.

Caymanians celebrate the occasion by camping on beaches and attending church services. Easter brunches also take place at numerous hotels and restaurants. Rum Point is a popular meeting point for groups with boats, and some families rent condos in Cayman Kai and enjoy the beach for the weekend.

Batabano & CayMAS

Cayman has two carnivals which are both hugely popular and include a colourful street parade where people dress up in stunning costumes and dance to pulsating Soca music. The carnivals celebrate the Caribbean’s diverse African and religious roots, and they reflect the Island’s rich heritage. Thousands of Cayman’s locals and visitors flock to the streets. Cayman Brac has its own celebration, Braccannal.

Wha Happening

Featuring a range of Cayman-specific comedic sketches, ‘Wha Happening’ delves into the topics and dialogues that resonate with the local community. This lively show is a dynamic blend of standup comedy and parodies that capture the essence of modern Cayman life. For more information, call (345) 949 5477.

Halloween

Halloween is a very popular event in the Cayman Islands. The festivities start just as the sun goes down and are wrapped up around 9pm. Very popular areas to trickor-treat include South Sound and Snug Harbour, but people also trick-or-treat in

National Symbols

hath

National Bird: Grand Cayman Parrot

National Flower: Wild Banana Orchid

National Tree: Silver Thatch Palm

National Song: Beloved Isle Cayman

National Motto: “He

founded it upon the seas”

their neighbourhoods. Check out Cayman Parent online (www.caymanparent.com) for a list of Halloween events.

Pirates Week Festival

Cayman’s National Festival, Pirates Week, begins in Little Cayman at the beginning of November, then moves to Grand Cayman where the famous Pirates Landing takes place in the second week of November and the float parade takes place the week after that. The festival then finishes in Cayman Brac at the end of November. For over 40 years Pirates Week has been the country’s largest celebration and it encompasses many additional events, including a street dance, running race, a sea swim, lots of wonderful steel pan music, song and costume competitions, delicious food and an amazing fireworks display that wows us all. For more information, visit their Facebook page (@ CaymanIslandsPiratesWeekFestival).

Christmas

Christmas in Cayman is magical. There might not be snow, but we put up real Christmas trees, which need to be ordered in September, and fill our gardens with twinkling lights as the rounds of parties and good cheer begin. The festive season kicks off with the Christmas breeze, which starts to blow in November. Traditions include visiting Captain Theo Bodden’s magnificent garden, opposite Sunset House, which, from early-December, becomes a theatrical display of lights. Camana Bay’s annual tree lighting in November is a great family outing. The Rotary’s annual carol singing concert in early December is highly anticipated every year. Enjoy shopping at the local craft markets, and keep a look out for appearances from Father Christmas!

FORMALITIES

Attire & Dress Standards

In the workplace, men and women dress similarly to how they do in Europe and the US, though jackets are typically not worn. If lawyers are attending court, formal business attire is expected. Outside of work,

people generally opt for a smart casual style. During the day, it’s common to see shorts, t-shirts, and dresses. For evenings out, the dress code varies by venue, ranging from glamorous and smart to very casual, where t-shirts, shorts, and flip-flops are perfectly acceptable.

Business & Banking Hours

Typical business opening hours are Monday to Friday 8.30am-5pm. Banks are open Monday to Thursday 9am-4pm and Friday 9am-4.30pm. Usually, only retail outlets, restaurants, pharmacies and supermarkets are open on Saturdays. The latter are also open on public holidays, but with reduced hours.

Climate

The most pleasant weather in the Cayman Islands is during the winter, from midNovember to April, as there is relatively less rain, brilliant sunshine and a constant, cool sea breeze, although the occasional nor’wester and cold front does blow through. These months coincide with peak tourist season. May to October is the rainy season, but unless a tropical system tracks over the Cayman Islands, the rain is normally only heavy for a few hours. During the summer months it is relatively hot and humid.

Date System

The Cayman Islands uses the English

date system of day/month/year. However, because of the influence of the US, some people write the date as month/day/year. It can be confusing, so make sure to check!

Greeting Customs & Caymankind

Say “Good morning” or “Good evening” on first meeting someone in Cayman. If you are talking to a Caymanian, then use the first name but preface it with a “Miss” or a “Mr”. “Mrs” is rarely used. If you do not know their name, and they are older than you, then “Sir” or “Ma’am” is appropriate. “CayMAN” (never the Caymans or CayMEN Islands) is a welcoming place and ‘Caymankindness’ is embodied by many, so be sure to engage with people you meet. Caymankindness is all about being kind and courteous.

Sunday Closings

By law, most businesses in Cayman close on Sundays. Places that remain open include pharmacies, gas stations, convenience stores, restaurants, bars and hotels, hair and beauty salons, gyms, Camana Bay’s cinema, and Kings Sports Centre.

Time Zone & Daylight Saving Time

Cayman is on Eastern Standard Time when the United Kingdom is on British Summer Time (BST), the time difference between the UK and Cayman is six hours. Daylight Saving Time is not observed in the Cayman Islands.

Cayman’s Climate at-a-glance (2024 figures)

Grand

Cayman

An overview of the Island’s banking, fund management, captive insurance and trust industries, structured finance, currency, the stock exchange and aircraft/ship registration.

The Cayman Islands continues to maintain its dominant position as a leading global financial hub, efficiently connecting law-abiding users with providers of investment capital and financing worldwide, benefitting both developed and developing countries. Cayman’s commitment to excellence and modern legislation are two key elements of its performance, particularly in capital markets and investments, and Cayman is strengthened by its close connections to the United Kingdom as a British Overseas Territory. Cayman is the number one domicile for healthcare and group captives and continues to excel globally in banking, capital markets, trusts and fiduciary services. The success of the financial services industry is attributed to our sound regulatory regime and political and economic stability, which are supported by highly skilled and experienced service providers. Additionally, we ensure adherence to international standards and we are committed to supporting global efforts to fight financial crime.

Cayman is a leading jurisdiction worldwide for mutual funds. Its strong international reputation is a result of our commitment to the principles of openness and transparency, and we have continuously improved our legislation to meet international demands.

Beneficial Ownership

The Cayman Islands has implemented the highest global standards for transparency and cross-border co-operation, which are regularly reviewed and enhanced. In order to comply with

Photos courtesy of Julie Corsetti & Irene Corti

international standards and commitments to combat money laundering, tax evasion and terrorist financing, the Cayman Islands implemented a beneficial ownership reporting regime in 2017 which requires: (i) each Cayman Islands company, limited liability company, foundation company and limited liability partnership to, amongst other things, instruct its corporate service provider (CSP) to establish and maintain a beneficial ownership register at its registered office unless an exemption applies; and (ii) the competent authority to maintain a centralised electronic platform on which this beneficial ownership information is stored (the Beneficial Ownership Reporting Regime). The beneficial ownership information stored on this platform is not currently publicly available but can be searched by the competent authority on its own behalf or on behalf, and at the request of, specified Cayman Islands or UK law enforcement authorities. There are possible fines and imprisonment for breaching the Beneficial Ownership Reporting Regime.

Following industry consultation, the Beneficial Ownership Transparency Act, 2023 (BOTA) was gazetted on 15th December 2023, updating the Beneficial Ownership Reporting Regime in line with evolving international standards and the Financial Action Task Force recommendations. At the time of print, the BOTA was expected to come into force in summer 2024. When it does so, the BOTA will expand the scope of the Beneficial Ownership Reporting Regime by bringing exempted limited partnerships and limited partnerships within the scope of the regime, and also by removing a number of the current exemptions to establishing and maintaining beneficial ownership registers. The BOTA also provides that certain regulated entities will be able to access beneficial ownership information.

The Cayman Islands Government made a commitment in 2019 to introduce public registers of beneficial ownership information following an international campaign to encourage more countries to

commit to publicly accessible registers by the end of 2023. However, a judgment of the Court of Justice of the European Union in November 2022 on this topic has raised questions on the constitutionality of implementing a public register. Consequently, the BOTA currently provides that beneficial ownership information can only be made available to the public if and when regulations have been proposed by Cabinet and affirmed by a future resolution of Parliament, and when that happens a resolution will be passed that it allows public access on a “legitimate interest” basis only.

Legislation to Meet Client Needs

The Cayman Islands’ regulatory framework is continuously evolving to ensure it meets the needs of market participants, their clients and investors. The Cayman Islands has continuously amended its antimoney laundering, terrorist financing, proliferation financing and financial sanctions requirements to ensure it remains in line with developing global standards, in particular those of the Financial Action Task Force (FATF). Cayman is rated by FATF as being largely or wholly compliant with all 40 of the FATF Recommendations on combating money laundering and the financing of terrorism and proliferation, which is a level of compliance that almost none of the EU member states, G20 members or other FATF members currently meet.

The Tax Information Authority Act has been in place since 2005 and has enforced

the laws and regulations necessary to implement the automatic exchange of information regimes. In 2016, the Limited Liability Company was introduced at the request of US clients. In 2017, the Foundation Companies Act was introduced, which provides clients with a flexible vehicle for offshore structuring. In particular, the Foundation Companies Act has recently proved to be useful for emerging virtual asset businesses looking for corporate vehicles without traditional shareholders.

Following consultation with the Organisation for Economic Co-operation and Development (OECD), the EU and Cayman Islands stakeholders, the Cayman Islands and other international financial centres adopted economic substance requirements in 2019. Cayman was assessed by the OECD as fully compliant and continues to ensure compliance by updating its guidance accordingly (with the latest version being introduced in July 2022). In 2020, the Cayman Islands amended the existing Mutual Funds Act and enacted a new Private Funds Act to provide a regulatory regime for smaller closed-ended investment funds. The Cayman Islands had already introduced legislative changes to allow the funds sector to participate in the EU’s Alternative Investment Fund Managers Directive.

Also in 2020, the Cayman Islands introduced the Virtual Assets (Service Providers) Act (VASP Act), which sets out the legal and regulatory framework for virtual assets service providers seeking to do

LUXURY BOUTIQUE RESIDENCES HOTEL

business in and from the Cayman Islands. This framework continues to develop with proposed amendments to the VASP Act in the pipeline and, in May 2024, the Cayman Islands Monetary Authority issued the Regulatory Policy – Registration or Licencing of Virtual Asset Service Providers.

Cayman’s Financial History

On the dark and moonless night of the 8th February 1794, a navigational error resulted in 10 British ships, including a Royal Navy vessel, being wrecked on the treacherous coral reefs off East End, Grand Cayman. Local people saved everyone aboard the ships, including, so the story goes, a royal prince. When Britain’s King George III heard of this act of gallantry, he is said to have decreed that the people of the Cayman Islands should forever be free from taxes and conscription. There is no doubt that the Wreck of the Ten Sail, as it is now known, took place, but there is no documented evidence of the royal decree. However, this has not stopped the story from becoming one of Cayman’s favourite legends.

The real reason for the Cayman Islands being a tax-free jurisdiction is rather more prosaic. Until the mid-1960s, the population was below 8,000, and most Caymanians made their living from subsistence farming, fishing, turtling, schooner building and making thatch-rope, while many of the men served as merchant seamen on ocean-going ships, usually ones flying the American or Liberian flag.

This meant that most of the residents in Cayman were living on meagre earnings. There were only a few companies at the time and capital gains were virtually nonexistent, so there was nothing worth taxing. However, in 1952, an aircraft runway was constructed, and the following year Barclays Bank opened a branch in Grand Cayman. In fact, Cayman’s status as an international financial centre derives from the foresight of some early legal practitioners and a receptive Government which, in the mid-1960s, drafted and enacted legislation together to build on this modest beginning.

In the following decades, more international banks were attracted to Cayman, together with law and accounting firms. When the Bahamas became independent from the UK in 1973, several expatriate workers from that jurisdiction were attracted to Cayman as a stable place to do business. Co-operation between the Government and the private sector has continued to this day. This, combined with a policy of welcoming expatriates with special skills to the Islands and a population of welleducated Caymanians, has kept Cayman at the forefront of the international financial industry.

Jurisdiction of Choice

To be successful in the highly competitive global financial industry requires political and economic stability, tax neutrality, a responsive legal system, reliable service providers, a sound regulatory regime, a stable banking environment and an absence of exchange controls. In addition to these factors, Cayman’s status as an overseas territory of the United Kingdom and its international co-operation regimes in the areas of tax information exchange, regulation and law enforcement provide the necessary level of confidence in Cayman’s sophisticated, hospitable and predictable financial environment. That confidence is built on Cayman’s status as a transparent, co-operative jurisdiction that already meets or exceeds the full range of globally accepted standards for transparency and cross-border co-operation with law enforcement and tax authorities, together with jurisdictional commitment to maintaining that status quo. Cayman became an early adopter of automatic data exchange, signing onto agreements such as the OECD’s Common Reporting Standard, US FATCA and country-by-country reporting principles under BEPS. The OECD’s Global Forum in 2022 named the Cayman Islands as one of 65 jurisdictions that achieved the highest rating of ‘on track’ in the first round of the Global Forum’s AEOI peer reviews. The Cayman Islands was appointed to the Global Forum’s Steering Group for the period of 1st

January 2023 to 31st December 2025.

Banking

Regulated by the Cayman Islands Monetary Authority (CIMA), banking in the Cayman Islands is a major part of Cayman’s financial sector, with 86 banks licensed as of March 2024. Of these 86 banks, 11 hold Class A licences and are permitted to carry out local and international business. The other 75 banks hold Class B licences and are mainly restricted to offshore transactions with non-residents. The majority of these banks are branches, subsidiaries and affiliates of established international financial institutions conducting business in international markets. Of these banks, 11 are from Europe, 8 from the US, 16 from the Caribbean and Central America, 16 from Asia and Australia, 10 from Canada and Mexico, 23 from South America and two from the Middle East and Africa.

In December 2022, Cayman was ranked 18th internationally based on the value of cross-border assets and 18th in terms of cross-border liabilities, at US$472.5 billion and US$424.3 billion, respectively. A testament to the worldwide recognition of the quality of Cayman’s financial industry is the fact that over 40 of the world’s top 50 banks hold licences in Cayman. The banking sector hires highly skilled professionals and is one of the most prominent employers on the Island. Cayman Islands’ banks are bound by strict anti-money laundering, counter-terrorism and proliferation financing laws, which are recognised as meeting or exceeding those of all major onshore jurisdictions.

To see a list of the banks licensed in the Cayman Islands visit www.cima.ky.

Taxation

Cayman imposes no income, capital gains, payroll or other direct tax on corporations or individuals resident in the Cayman Islands. Taxes are, however, imposed on most goods imported to the Islands, and stamp duty (especially on direct and indirect transfers of Cayman Islands real estate) represents a significant amount of taxation in the Cayman Islands. Through this tax system, total

Government tax revenues, as a percentage of GDP, are similar to tax rates in G20 countries and are sufficient to fund Government operations. This makes additional, direct taxation unnecessary.

Cayman signed its first Mutual Legal Assistance Treaty with the US in the 1980s and now has bilateral tax information exchange agreements with 36 jurisdictions. Cayman also participates in the Multilateral Convention on Mutual Administrative Assistance in Tax Matters, which allows tax information exchange with more than 140 countries. Cayman has adopted and implemented US FATCA and the OECD’s Common Reporting Standard to facilitate the automatic exchange of tax information with such jurisdictions. In addition, Cayman requires multinational enterprises which meet certain criteria to file a report with tax administrations or authorities, pursuant to its Countryby-Country Reporting regime which the Cayman Islands has implemented in accordance with the OECD/G20 Action Plan on Base Erosion and Profit Shifting (BEPS). Cayman joined the OECD/G20 Inclusive Framework on BEPS in 2017 and continues to implement and comply with BEPS global minimum standards.

A Tax Haven?

‘Tax haven’ is a phrase that is often thrown around in the global media and by overseas politicians; however, it is incorrectly assigned to the Cayman Islands. Cayman does not meet any of the tax haven definitions set out by the OECD, Transparency International or Tax Justice Network. It does not offer tax incentives designed to favour non-resident individuals and businesses. Cayman does not have differing tax rates for foreign entities, nor does it have legal mechanisms or treaties (such as double taxation agreements) in place with other countries that (legally) affect the transfer of tax bases from one country to another in order to reduce taxes. Cayman does not promote itself as a jurisdiction for aggressive tax planning.

Investment Funds

The Cayman Islands is the world’s leading offshore centre for the establishment of hedge funds and private equity funds. Almost 13,000 mutual funds are licensed, registered or administered with the Cayman Islands Monetary Authority (CIMA). Following the enactment of the Private Funds Act in 2020, there are over 17,000 private funds registered with CIMA. Most investment funds are aimed at institutional or sophisticated/ high-net-worth investors, which is reflected in the types of funds that are regulated in the jurisdiction and their assets under management.

Investment funds, like other entities established in the Cayman Islands, must have a registered office provided by a licensed corporate services provider, which maintains, among other things, the corporate records of the entity. Funds will typically appoint a suite of service providers both within and outside of the Cayman Islands and, in certain circumstances, must appoint Cayman Islands providers. Thus, funds will engage Cayman

Islands legal counsel, approved Cayman Islands-based auditors, administrators (who may need to be locally licensed in certain circumstances) as well as directors and/or advisory boards, licensed Cayman Islands trustees and (if listing) an approved listing agent. In keeping with international standards, each fund is required to appoint anti-money laundering (AML) officers and AML compliance officers and there are several qualified professional organisations that can provide this service.

Asset managers may be based in the Cayman Islands or overseas. While most managers are located outside of the jurisdiction, in recent years there has been increased interest by managers in establishing a business with a physical presence in the Cayman Islands. With the amendment of the Securities Investment Business Act in 2019, there is an enhanced regulatory and supervisory framework for securities investment business in the jurisdiction.

The success of the investment funds industry in the Cayman Islands is due to a

Relocating

Islands?

combination of factors, including its marketleading reputation, freedom of investment decisions for asset managers, tax-neutral status and the availability of world-class professional service providers. It has a highly regarded legal and regulatory system, with the final appellate court being the Judicial Committee of the Privy Council. The funds industry is a key pillar of the Cayman Islands financial services sector, which is responsible for the direct employment of hundreds of professionals. These advantages will ensure that Cayman continues to lead the way as the jurisdiction of choice for investment funds.

Fund Statistics

As of June 2024, CIMA records indicate that there are 12,893 regulated mutual funds, comprising 8,769 Registered Funds, 267 Administered Funds, 48 Licensed Funds and 3,182 Master Funds. CIMA records also indicate that there were 17,020 regulated private funds.

Trusts & Foundation Companies

As a global centre of excellence for trusts, the Cayman Islands financial sector has serviced international clients for decades, providing modern, flexible and robust structures for wealth structuring, estate planning and commercial applications. Cayman offers a well-regulated, politically stable and tax-neutral environment in which to form and administer a trust. While deriving originally from English law, Cayman’s Trusts Act has been reviewed and updated regularly over the past 50 or so years to ensure that it remains cuttingedge, competitive and appropriate to meet the evolving needs of a global client base.

The Cayman Islands stands out with its progressive and innovative legislation, and the Foundation Companies Act (enacted in 2017) is an excellent example of this. Foundation companies can be an attractive alternative to trusts, particularly for clients in civil law jurisdictions where a trust is often unfamiliar or the tax treatment of trusts uncertain. Foundation Companies are also commonly used as succession planning and asset protection vehicles,

often to hold bespoke assets such as real estate or a yacht, or as part of a private trust company and family office structures.

Cayman boasts a deep bench of specialist and experienced trustees, legal advisors, accountants, administrators, regulatory professionals and other service providers, and a highly regarded, reliable and independent judiciary and courts system. The Islands’ trust industry is overseen by CIMA, which is responsible for the licensing and supervision of regulated financial businesses, ensuring compliance with anti-money laundering and other regulatory laws, and liaising with its counterparts in other countries. With steady and dependable growth, trusts and foundation companies remain an important component of the financial services industry in Cayman. According to CIMA, as of March 2024, there were 132 Active Trust Licences, of which 56 were Full Trust Licences, 55 were Restricted Trust Licences and 21 were Nominee (Trust) Licences. In addition, there were 152 Private Trust Companies registered in Cayman as of the same date.

Companies & Partnerships

The Cayman Islands is a popular jurisdiction for the establishment of business vehicles because of its stable legal system, modern and flexible corporate structures, businessfriendly culture and tax-neutral status. The main forms of business vehicles established in the Cayman Islands are exempted companies, limited liability companies, limited liability partnerships, exempted limited partnerships, segregated portfolio companies, special economic zone companies and local ordinary companies. In particular, the Cayman Islands is a pre-eminent jurisdiction for the formation of alternative investment funds.

In recent years there have been significant developments in Cayman Islands regulation as it applies to business vehicles, particularly with respect to anti-money laundering, beneficial ownership, economic substance, data protection and the regulation of closedended alternative investment funds. These developments underpin the jurisdiction’s

ongoing commitment to adherence to the very highest international standards.

In addition to law firms, which are available to provide specialist legal advice and assistance in the establishment and ongoing management of Cayman Islands business entities, there are also many highly qualified professional firms licensed to provide corporate services in the Cayman Islands.

Structured Finance

Several of Cayman’s law firms specialise in capital markets and structured finance transactions for international clients.

The Cayman Islands has become one of the world’s leading providers of Special Purpose Vehicles (SPVs) for structured finance transactions and is recognised by international rating agencies as a preeminent jurisdiction for rated debt capital market transactions. SPVs are often used in securitisation transactions which involve the acquisition of financial assets by the SPV and the subsequent issuance of securities to institutional investors.

The attraction for investors in securities issued by Cayman Islands SPVs includes statutory recognition of non-petition provisions, tax-neutrality, creditorfriendly legislation and the large number of sophisticated professionals in the legal, accounting and fiduciary sectors who are well-versed in establishing, maintaining and reviewing orphaned structures.

Collateralised Loan Obligations (CLO)

The Cayman Islands remains the top choice of domicile for US CLO managers when establishing issuer vehicles, due to Cayman’s reputation as a sophisticated, creditor friendly jurisdiction. CLOs securitise assets, typically leveraged loans, by pooling them together and paying out income and principal repayments from the pool to note holders. CLO investors buy tranches of notes with specific seniority and pay-out structures, hence taking different degrees of risk. Given its status as a recognised exchange, the Cayman Islands Stock Exchange is also a popular choice for managers should investors require that the

notes be listed. Cayman’s removal from the EU AML list in February of 2024 has seen the market move back to Cayman as the jurisdiction of choice for issuer vehicles. This is excellent news for the jurisdiction since, at the time of going to print, 2024 looked to be close to a record year for new CLO issuance. In addition, there has been a flurry of refinancing and resets of earlier deals due to market conditions, highlighting the appetite amongst investors for CLO paper. Despite the current challenges in the market worldwide, CLO issuance continues to be robust, with many indications that this will continue.

Independent Directors in Cayman

A thriving sector of Cayman’s financial services industry is the provision of independent directors on various structures, such as hedge funds, private equity funds, special purpose vehicles and insurance companies. Corporate Governance, in general, has become a major touch point in the financial services industry worldwide, following a number of high-profile cases where investors were defrauded, in part due to insufficient independent oversight. In addition, during the global financial crisis, independent directors from the Cayman Islands added significant value when hedge funds were faced with making difficult decisions, for example, ensuring that all decisions were made in accordance with the fund documents and that all shareholders were treated fairly. This has not been lost on the institutional investors who are, for the most part, making it one of their investment requirements that there is a majority of independent directors on the board.

In addition to the extra layer of oversight provided, a significant benefit of appointing a local Cayman director to a Cayman entity is that local service providers are current with all relevant legislation and can ensure that the structure is compliant with their legal requirements.

The Cayman Islands Government approved the Directors Registration and Licensing Act (DRLA) 2014, which

requires all directors of mutual funds regulated under the Mutual Funds Act (As Revised) and directors of companies registered as excluded persons under the Securities Investment Business Act (As Revised), to register with CIMA. This law provides for the registration and licensing of individuals or companies appointed as directors of Cayman Islands mutual funds and entities carrying out securities investment business. This includes Cayman Islands incorporated or registered investment managers. The law requires an individual acting as a director on 20 or more entities to apply for a professional director’s licence unless they meet certain caveats. Professional directors are required to have insurance with a minimum aggregate cover of CI$1 million and minimum cover of CI$1 million for each and every claim. An amendment to the DRLA was passed in early 2020 as a consequence of amendments to the Securities Investment Business Act (SIBA).

The use of independent directors has been brought into increased focus following the implementation of the Economic Substance requirements, which came into effect in the International Tax Co-operation (Economic Substance) Act, passed in December 2018. This legislation does not currently apply to investment funds but requires all other relevant entities to prove that their ‘mind and management’ are in the Cayman Islands, and to allow them to claim the tax benefits of being domiciled in an offshore jurisdiction.

Financial Technology ‘FinTech ’

In May 2020, the Government passed the Virtual Asset Service Providers Act (‘VASP Act’), which provides a legislative framework for the conduct of virtual assets business in the Cayman Islands and for the registration and licensing of persons providing virtual asset services. The VASP Act is intended to provide the Cayman Islands with a cutting-edge, robust framework which aligns with global regulatory standards, protects consumers and meets the requirements of the Financial

Action Task Force recommendations in respect of virtual assets.

The VASP Act is being implemented in phases. The first phase, a registration regime, came into effect on 31st October 2020 and focuses on anti-money laundering and the counter-financing of terrorism, compliance, supervision and enforcement. A more extensive licensing regime covering virtual asset custodians and operators of virtual asset trading platforms is expected to come into force during 2024.

Under the VASP Act, there is the potential for the future introduction of a sandbox licence. A sandbox licence is a temporary (up to one year) licence that CIMA may direct a VASP to apply for in certain circumstances.

As perhaps one of the most publicly recognised applications of FinTech, cryptocurrencies are virtual currencies that use encryption technologies to secure and verify transactions, and to control the creation of additional units. But FinTech –a shortened form of ‘financial technology’ – is broader than just cryptocurrencies. FinTech also refers to the use of other technologies, such as blockchain, that are revolutionising the delivery of financial services via digital applications, retail banking and investment markets. Particularly in recent years, financial services in Cayman have increasingly reflected the value of delivering products and services through FinTech innovations. Some of the virtual asset and FinTechrelated activities that take place within Cayman include crypto exchange services, custodial services, initial coin offerings and innovators working on new centralised and decentralised technologies. The VASP Act has introduced a framework to regulate digital assets in order to ensure that any risks associated with such activities are analysed and mitigated, and that any benefits are realised in a manner consistent with a well-regulated financial services jurisdiction. As of January 2024, there were 19 VASP registrations with CIMA under the VASP Act, with a number of

Families Relocating

With 137 nationalities represented in the Cayman Islands, it is no surprise that the Islands are proving of increased interest to ultra-high-net-worth (UHNW) individuals and families from all regions of the globe. The factors that make the Cayman Islands appealing for international business transactions and investment and asset holding structures, also make it appealing to the individual:

> the rule of law applies to all without bias, including the government

> the judicial system is competent, fair and transparent

> the Islands are politically and financially stable (reinforced by its connections to the United Kingdom as a British Overseas Territory)

> the Islands boast an excellent communications network.

In addition to this, inhabitants of the Cayman Islands enjoy a considerably higher standard of living than anywhere else in the Caribbean, if not the world. Most importantly, the Cayman Islands are extremely safe with a low crime rate and no instances of the type of antisocial and threatening behaviour which affects other places where the wealthy tend to congregate. Cayman is a society that is friendly, inclusive, cosmopolitan and respectful of the individual, so much so that the term ‘Caymankind’ has been coined to reflect the particular qualities of Cayman society. With an expected increase in the population of the Islands and the arrival of new permanent residents from all regions and walks of life, we can expect increased diversification within the population over the coming years and increased interest from wealthy families. The significant number of residential developments underway in the Cayman Islands attests to the global appeal of a move to the jurisdiction from families at all economic and age levels, and there are interesting projects in the works which show the jurisdiction’s ambition to position its younger population and future workforce for effective competition in the global marketplace.

Insurance Legislation

The enactment of the Insurance Act, 2010 (the ‘Insurance Act’) was a result of a public and private sector collaboration to improve the regulation of insurance business in the Cayman Islands, enhance protection for domestic consumers and open new frontiers of business development.

The main provisions of the Insurance Act included, what were at the time, two new categories of insurer licences – Class C (special purpose vehicles for insurancelinked securities (ILS)) and Class D (large commercial reinsurers). Since 2010, there have been further developments to the Insurance Act, and in March 2013, Cayman introduced incorporated cell legislation for insurers structured as Segregated Portfolio Companies (SPCs). The amendment in 2013 conferred several advantages, such as allowing a portfolio insurance company (PIC) the flexibility to transition to a stand‐alone insurance company, unlike an unincorporated cell. The Insurance (PIC) Regulations 2015 were brought into force in January 2015, along with the related section of the Insurance (Amendment) Act, 2013. These regulations enhance the statutory insurance framework, providing additional alternatives to risk management by enabling insurers incorporated as SPCs more flexibility.

In June 2022, the Insurance Act was amended by the Insurance (Amendment) Act, so as to allow capital redemption contracts or funding agreements, i.e. contracts under which an insurer may (a) receive and accumulate sums of money; and (b) pay a sum or sums of money or render money’s worth, on dates and in amounts that are not contingent on human life or against risks of the person insured.

Captive Insurance

Since 1979, the jurisdiction has become a major centre for international insurance business. The Cayman Islands is the second largest domicile for captives and holds the number one position worldwide

for healthcare captives. The Cayman Islands is also a leading jurisdiction for group captives and ILS. The international insurance industry here is primarily made up of companies insuring risks in North America, representing about 90% of the market. As of the 31st March 2024, the total number of Class B insurers (including captives) in Cayman was 666, with 20% of them in total being Medical Malpractice Liability captives. However, the largest line of business now proves to be Workers’ Compensation, with 153 licensees. The value of the total assets for Cayman’s Class B Insurers (which includes Group and Pure captives) was approximately US$112.5 billion, with US$52.5 billion in total premiums as of Q1 of 2024.

Reinsurance

In recent years, the Cayman Islands’ commercial reinsurance industry has experienced impressive double-digit growth annually. By the end of Q1 2024, the number of reinsurance licenses reached 85, with total assets valued at US$83.1 billion. This surge is attributed to a notable trend: many reinsurance companies are now choosing to domicile in the Cayman Islands. This shift to Cayman is often attributed to Bermuda’s adoption of the EU Solvency II (SII) framework for its insurance operations.

The Cayman Islands offer significant advantages for US carriers and other nonEuropean or global reinsurance-focused entities. The jurisdiction provides greater flexibility regarding regulatory capital ratios and investment options, resulting in lower overall operating costs. Unlike Bermuda, which adheres to the SII framework, the Cayman Islands Monetary Authority (CIMA) employs a risk-based regulatory approach, tailoring the licensing process to individual reinsurers.

Cayman’s legislative environment further benefits reinsurers by allowing them to develop internal regulatory capital models. These models can incorporate the US National Association of Insurance Commissioners (NAIC) risk-based capital

guidelines, enabling more efficient capital structuring. Additionally, reinsurers can align with US regulatory and reporting requirements, offering familiarity and efficiency in operations.

There is little appetite in the Cayman Islands to pursue the SII framework and this is primarily because across all areas of Cayman’s financial services sector, the jurisdiction is predominantly US-facing, and therefore SII would simply not be a match for the jurisdiction’s main clients.

On 18th-19th April 2024 the Cayman Islands Reinsurance Association (CIRCA) with other stakeholders hosted [Re] Connect, the inaugural conference for reinsurance in the Cayman Islands. With attendance at nearly 450 delegates with approximately half being from overseas, [Re]Connect clearly showcased that Cayman was now another option within the reinsurance space with world class facilities and service providers.

[Re]Connect demonstrated the Cayman Islands’ government, CIRCA, CIMA and other stakeholders’ steadfast commitment to making Cayman an attractive domicile for reinsurance carriers.

For many US start-ups, the Cayman Islands is the most appropriate jurisdiction for their new reinsurance platform. Another significant factor for executives of reinsurance entities is the value added from what life in Cayman offers. For example, executives can secure a 25-year Substantial Business Presence Certificate, which means immediate security of tenure. With this, they can buy or build a home without restrictions, educate their children in superb schools, know that the healthcare is excellent and that there are no income or payroll taxes.

This combination of government certainty, excellent service providers and insurance professionals, regulatory flexibility, cost efficiency, and strategic alignment with US standards and consolidated jurisdictionwide commitment to the reinsurance sector are all mixing to fuel the Cayman Islands’ rise as another world class domicile for the global reinsurance industry.

Domestic Insurance

The number of Class A insurance companies operating in Cayman was 24 as of 30th June 2024. The insurance sector in the Cayman Islands remains robust. For the year ending 31st December 2022, Class A insurers reported annual total written premiums of US$1.1 billion.

Cayman Islands Insurance Associations

To support the insurance industry in the Cayman Islands there are three insurance associations.

The Cayman Islands Insurance Association (CIIA) advises on insurance policy and communicates directly with the Cayman Islands Monetary Authority (CIMA), which regulates the insurance industry, on behalf of industry stakeholders and insurance providers. The CIIA places a focus on the education and professional development of its members to increase their insurance knowledge. CIIA also aims to inform the public about current insurance topics of interest and provide transparent communication.

The Cayman International Reinsurance Companies Association (CIRCA) is an industry group for commercial reinsurers located in Cayman. They are dedicated to fostering the industry through peer interaction, advocacy and education on topics impacting the regulatory and business environment. CIRCA’s members include reinsurers and other stakeholders who are focused on promoting the interests of commercial reinsurers in the Cayman Islands both here and abroad. CIRCA works collaboratively with all stakeholders in this expanding segment of the financial services industry. For inquiries about membership or other topics visit www. circa.ky.

Finally, there is the Insurance Managers Association of Cayman (IMAC) which, since 1994, has represented insurance managers, captive insurance companies and service providers, acting as a vital link between the industry, government and regulator in the Cayman Islands. For more information visit www.imac.ky.

Aircraft Registration

The Cayman Islands Aircraft Registry (CIAR) provides aircraft registration and certification services for aircraft within the jurisdiction or those based elsewhere. Founded on UK legislation, the Civil Aviation Authority of the Cayman Islands (CAACI) is responsible for safety oversight, the economic regulation of the aviation industry in Cayman and for all aircraft registered on the CIAR.

Any person or company wishing to register an aircraft in Cayman must meet the exacting standards of the CAACI; these include submitting due diligence records within a registration application which meet International Anti-Money Laundering Act requirements. Those financing a registered aircraft can register their security interest on the Cayman Islands Aircraft Mortgage Register, which is supported by the Cayman Islands Mortgaging of Aircraft Regulations (2015). In addition, the Cape Town Convention came into force in the Cayman Islands on November 1, 2015, allowing for filings such as the Irrevocable Deregistration and Export Request Authorisation (IDERA) and the Consent to Deregister an aircraft from the Cayman Islands Aircraft Register to legally be filed with the CIAR under the Cape Town Protocol.

Aircraft registration applications, certifications and ongoing authorisations happen within a bespoke secured data management portal, VP-C Online, designed specifically for the CIAR. The CAACI continues to innovate this digital portal to efficiently meet the needs of clients and to enable growth of niche market offerings, for instance bespoke modules within VP-C Online are being specifically developed to cater to the needs of lessors and those financing Cayman registered aircraft.

Additional information can be requested by email: civil.aviation@ caacayman.com or visit www.caacayman. com/aircraft-registry.

Ship Registration

The Cayman Islands’ seafaring history is

preserved by the Maritime Authority of the Cayman Islands (MACI), which has oversight of the Cayman Registry and maintains its headquarters in Grand Cayman. The MACI is a first-class international organisation with a worldwide reputation for excellence and efficiency in global shipping. The registry is staffed by an international team of professionals with many years of experience in the world of international shipping. MACI offers consulting services to clients and other countries on a variety of maritime issues, including maritime administration structures, financial aspects of operating a maritime authority and how to draft specific legislation. As a Category One British Registry, the Cayman Registry is qualified to register vessels of all sizes and classes, from yachts to supertankers. In the super yacht range, Cayman is one of the world’s leading offshore luxury yacht registries.

The Cayman Islands flag and its safety requirements are seen as the gold standard in the shipping industry. Registering your vessel in the Cayman Islands grants you protection and assistance from the UK Royal Navy regardless of location and full British Consular services for all Caymanflagged vessels. For more information, visit www.cishipping.com.

Currency

The legal tender of the Cayman Islands is the Cayman Islands Dollar (denoted CI$), and the sole issuing authority is the Cayman Islands Monetary Authority (CIMA). The denominations consist of CI$1, CI$5, CI$10, CI$25, CI$50 and a CI$100 bill. However, the United States Dollar, with a fixed rate of exchange, is widely used in local finance and commerce.

Cayman Islands Monetary Authority (CIMA)

CIMA was created by the Cayman Islands Government to regulate, supervise, protect and enhance the integrity of the financial services industry in the Cayman Islands. They are responsible for the supervision and regulation of licensed and registered entities operating in and

from the jurisdiction. They supervise and regulate over 20,000 entities, have over 200 employees and collect over US$100 million in fees from regulated entities. For more information, see their website at www.cima.ky.

The Ministry of Financial Services and Commerce (MFSC)

Financial services and commerce are the Cayman Islands’ primary economic pillar. The MFSC’s vision is for Cayman to be a globally respected centre of excellence for competitive, transparent and compliant financial services. It assists elected officials in developing and implementing policies and legislation for this purpose, and this in turn supports the local economy and encourages growth and stability in our financial services and in our commerce industry. Successive CI Governments have been committed to keeping and maintaining global standards for antimoney laundering, tax cooperation and countering terrorist financing (AML/ CFT), and the Ministry’s ongoing work relating to compliance with these standards supports this commitment.

The Ministry has responsibility for the following: the Cayman Islands Intellectual Property Office, the Dept of Commerce and Investment, the Dept for International Tax Cooperation, the General Registry, National Maritime Affairs Secretariat, the Auditors Oversight Authority, the Cayman Islands Monetary Authority, the Cayman Islands Stock Exchange, the Civil Aviation Authority of the Cayman Islands, and the Maritime Authority of the Cayman Islands. For more information or to get in touch with the MFSC call (345) 945 5819, email: mfscpublic@gov.ky or visit www.gov.ky/ mfsc/.

Cayman Finance

Cayman Finance, is a non-profit membership organisation that has served as the voice of the Cayman Islands’ financial services sector since 2003. With a diverse membership comprising

over 100 entities, including 16 industry associations, it tirelessly safeguards the industry’s reputation and promotes its growth through five strategic pillars: promotion, protection, member engagement, community engagement, and product development. These pillars drive collaborative efforts, foster community connections, encourage innovation in financial products, enhance industry visibility, and ensure the sector’s integrity and security.

Cayman Finance also hosts the LEAD programme annually, a pathway for high-performing Caymanian high school students to learn about the Cayman Islands financial services industry and the types of careers available. For more information on LEAD, visit www.caymanfinance.ky/lead or email: lead@caymanfinance.ky.

Cayman Islands Stock Exchange (CSX)

The CSX is a well-established and internationally recognised stock exchange, which is a member of the Intermarket Surveillance Group, an affiliate member of the International Organization of Securities Commissions (IOSCO) and has been granted recognised status by the UK HMRC and the Irish Revenue Commissioners (Irish Revenue). This enables the debt securities listed on CSX to avail of the UK/Irish Quoted Eurobond Exemption (QEE), which means that tax does not need to be withheld on interest payments in respect of listed debt.

The CSX provides a platform for the listing and trading of shares, specialist and corporate debt securities (including CLOs) and other instruments issued by trading companies, investment funds and other investment vehicles. Based in George Town, Grand Cayman, the CSX began trading in 1996, and since its inception, it has approved securities for admission for a total market capitalisation of over US$800 billion.

The Cayman Islands’ well-regulated, tax-neutral environment is highly regarded internationally. As the world’s leading domicile for offshore hedge funds and one of the largest captive insurance centres, it is predictably the offshore jurisdiction of choice for both private and institutional investors. Cayman’s prominent reputation comes, in part, from the highly professional and business-friendly Cayman-based financial institutions that maintain a close working relationship with the Government. Together, they continue to foster a transparent and functional financial regime.

WEALTH MANAGEMENT

There are a number of different ways to engage in the services of investment advisors based in the Cayman Islands, either through the local office of a global firm or the asset management group of a local financial institution.

A local investment advisor will be able to offer expert investment guidance on a personal one-on-one basis in the resident’s time zone. They will also be familiar with the asset allocation and types of investments that are appropriate.

Most of the retail banks in Cayman have a full range of financial services and there are an increasing number of specialised financial institutions that advise individuals who are looking for private banking or wealth management facilities. Brokerage firms in

Investing

Saving and

Cayman offer a wide range of client accounts and a full suite of products. The regulator is not responsible for many aspects of investment offerings available locally, so do your homework before choosing an investment advisor or broker. Some of the factors to consider or questions to ask, as appropriate, are as follows:

> Make sure you understand the risks and likely expected return on the investment(s) you are evaluating, the investment process, and any competitive advantages the firm you are considering may possess.

> Check the professional qualifications of the individual advising you. Does the firm carry professional indemnity insurance?

> Understand the liquidity of the investment(s) you are contemplating. What are the terms offered when you wish to sell all or part of your investment?

> Make sure your investment time horizon is compatible with the asset class in which you are contemplating investment. For instance, investing in equities is generally not recommended for those investing with a time horizon shorter than five years, given historic volatility.

Photos courtesy of Jonathan Sparrow, Julie Corsetti & Rebecca Davidson

> Understand the tax consequences of your investment proposition. Whilst there is no income, capital gains or inheritance tax in the Cayman Islands, your investments could be subject to withholding tax on dividends in the country in which they are paid, with the rate varying by country.

> Diversify geographically. You never know what might happen. Markets in one country may be overvalued at the same time that another country’s markets are undervalued. Historically, there has been a wide dispersion in equity market returns between countries decade by decade.

> Does the firm have a track record and has it been independently verified? It is useful to compare this historic performance to the returns of a passive ETF or index fund that tracks a suitable benchmark index to evaluate whether the advisor has added or detracted value in the past.

> Fees and expenses affect your net investment return so make sure you understand all fees and expenses when evaluating an investment proposition. Fees, expenses or commissions may be charged upfront, on a recurring basis or on exiting an investment, and may be embedded in the underlying investment.

There are a number of regulated wealth management firms based in the Cayman Islands that offer securities brokerage, along with investment advice and discretionary management services. Most financial institutions offer products and services to meet the needs of investors of all sizes. We recommend contacting a couple of the following companies to discuss your range of options and their minimum requirements. Some of the leading organisations offering wealth management solutions are listed here:

Butterfield Bank (Cayman) Ltd.

12 Albert Panton Street, George Town Tel: (345) 949 7055

Email: info.cayman@butterfieldgroup.com

www.butterfieldgroup.com

Services include private banking, asset management, trusts and estate planning, custody services and lending solutions.

SEE AD PAGE 123

Cayman National Bank Ltd.

Suite 6201, Forum Lane, Camana Bay Tel: (345) 949 4655

domesticpremierbanking@caymannational.com www.caymannational.com

Services include, but are not limited to, a dedicated Relationship Manager, preferential rates on loans and overdrafts and priority processing on all applications. Available products are: Premier Accounts – chequing, savings and fixed term deposits; Premier Lending – mortgages, personal and car loans, pre-qualified for Visa Infinite debit and credit cards and more. SEE AD PAGE 125

CIBC FirstCaribbean

FirstCaribbean House, Main Street, GT Tel: (345) 815 2329

www.cibcfcib.com/wealth

Services include private banking, investment advisory services, discretionary portfolio management, trust, estate and fund services.

Liberty Wealth Partners Ltd.

Fort 51, Fort Street, George Town Tel: (345) 516 2695

Email: hello@libertywealth.ky www.libertywealth.ky

Liberty Wealth is a fee-only comprehensive wealth management firm offering holistic financial planning and investment management services. Liberty Wealth guides you to financial freedom and true peace of mind through a wealth management process that goes far beyond investments. SEE AD PAGE 46

LOM Financial Cayman

39 Market Street, Gardenia Court, Camana Bay Tel: (345) 233 0100

Email: info@lom.com or www.lom.com

Overseas Asset Management (Cayman) Ltd.

The Pavilion, Cricket Square, Elgin Avenue, GT Tel: (345) 949 8780

Email: admin@oam.com.ky

www.oam.com.ky

OAM is an independent boutique fund manager that seeks to generate superior long-term returns with a distinct investment philosophy and highly focused investment process. They aim to build strong client relationships, offering a personalised and friendly service, as well as an alignment of interests with clients. Regulated by CIMA, the OAM Funds are listed on the Cayman Islands Stock Exchange.

SEE AD PAGE 45

Proven Wealth (Cayman) Ltd.

1 Gecko Link, West Bay Road, SMB

Tel: (345) 769 5352

www.provenwealth.com

RBC Royal Bank (Cayman) Ltd.

Royal Bank House, 24 Shedden Road, GT Tel: (345) 949 4600

www.rbc.com/caribbean

RBC Dominion Securities Global Ltd.

3rd Floor, 9 Forum Lane, Camana Bay Tel: (345) 949 4066

www.rbcdscayman.com

RBC offers the strength and experience of a global firm with a personalised boutique service. They pride themselves on their tailored approach to your individual wealth management needs, always putting your goals and priorities first. Backed by the strength and experience of Canada’s leading wealth management firm, RBC Dominion Securities Inc., they can draw on this global expertise while operating like a speciality local business to help you to protect and grow your wealth through every stage of your life. SEE AD THIS PAGE

RF Bank & Trust

Fidelity Financial Centre, 1 Gecko Link, SMB Tel: (345) 746 6010

Email: invest@rfgroup.com www.rfgroup.com

Offering a wide range of investment products and services, RF Bank & Trust provide financial solutions designed to help individuals and corporate clients meet and achieve their investment goals. These include investment management, pension plans, stock brokerage, educational investment accounts and personal

Sagicor Investments Cayman Limited www.sagicorcayman.com

Sagicor Investments prides themselves on excellence and innovation, always leveraging their expertise to design solutions that will help clients achieve their financial objectives with ease and efficiency. Whether equities, fixed income, or more sophisticated alternatives, clients will always benefit from their thoughtfully tailored solutions, uniquely

fashioned to fulfill your investment objectives.

Sagicor Investments Cayman is an affiliate of Sagicor Group Jamaica Limited and its parent Sagicor Financial Company which is listed on the Toronto Stock Exchange and operates in over 20 countries worldwide. SEE AD PAGE 47

Scotiabank & Trust (Cayman) Ltd.

Scotia Centre, 18 Forum Lane, Camana Bay Tel: (345) 949 7666

Scotiabank in Camana Bay offers a full suite of retail banking services, two 24/7 ATMs,

Secure your financial future

RBC Dominion Securities Global Limited

corporate and commercial banking and captive insurance services, along with Scotia Wealth Management and a premium banking centre.

Brokerage Services

Today, Tradeview is one of the only fully licensed, multi-asset brokerages in the Cayman Islands that offers online trading services to traders and investors. Tradeview provides direct access to trade execution and clearing services via its online platform for a wide variety of electronically traded products, including exchange traded Stocks, Options, and Futures, as well as Forex and CFDs on major indices and commodities.

Tradeview

5th Fl Anderson Square, 64 Shedden Road, GT Tel: (345) 945 6271

Email: info@tvmarkets.com www.tvmarkets.com

Services include online discount securities trading from a regulated brokerage account for Cayman residents, offshore residents and expat investors. Contact Tradeview if you are

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SAVING & INVESTING IN CAYMAN

Working in Cayman can be particularly rewarding as earnings and any investment gains are tax-free. Nevertheless, as the Cayman Islands are a tax-neutral jurisdiction, it is strongly recommended that all new residents looking for employment here take the following steps:

1) Seek tax advice in your home country. The tax authorities in Canada, the UK and the US treat income differently when their residents are physically working outside of the country. All newcomers to Cayman should determine if it is advantageous to transfer savings and investments to

before making investment decisions. For example, in the UK, an individual must be a non-resident for one full tax year to avoid tax on income. US citizens are liable to be taxed on worldwide income irrespective of where that income is physically earned, although you may be eligible for a foreign earned income exclusion, which is adjusted each year based on the inflation rate. Canadian citizens must prove that they have severed ties with Canada to avoid paying taxes.

2) As soon as is practical after arrival in the Cayman Islands, you should establish a local bank account. This will provide you with a debit card and enable online banking. Local ATMs accept both local and foreign debit and credit cards. Regarding chequing accounts, most local banks

and investment relationships. Local due diligence calls for having readily available (original) documents that confirm the personal identity and other particulars of an applicant. The requirements vary with each institution but generally include two forms of identification, confirmation of residential address, a bank reference, professional reference (both addressed to the bank in Cayman) and evidence of the source of funds. For a full and detailed list of requirements, see the Money and Banking section of the Settling In chapter.

5) If planning to return to a country that is not US$-denominated, consider regularly converting CI$ or US$-denominated earnings to your home country’s currency. If all your savings are in CI$ and you only convert it upon returning to your home country, it is possible that exchange rates could have moved adversely and, thus, negatively impact the value of your savings at this time.

6) Factor an eventual return to your home country into investment planning. It will not be advisable to liquidate all investments held locally and repatriate the funds at that time. To make the appropriate decision at the time, it is vital to be fully aware of your individual tax situation and what you are legally allowed to do. While in Cayman, it may be advantageous to establish a Cayman-registered company or Caymanregistered trust to own investments. These could potentially provide tax advantages upon returning to your home country. Most local banks in the Cayman Islands have a trust department that can provide expert guidance and will advise on the best strategy based on each client’s personal situation. However, please see the ‘Domicile and Tax’ section on www.caymanresident. com first, as you might trigger inheritance tax if it is done too soon.

ESTABLISHING A TRUST OR FOUNDATION COMPANY IN CAYMAN

With a well-regulated financial industry and modern, regularly updated legislation, the Cayman Islands is one of the world’s top taxneutral jurisdictions in which to establish

a trust or a foundation company. The trust and foundation company regimes in Cayman benefits from a politically stable environment with no capital gains, income, profit, corporation or withholding taxes. Cayman’s Government also ensures that if the country’s tax status were to ever change, a trust that is registered as an ‘exempted trust’ would remain tax-free for up to 50 years. A variety of flexible trust and foundation company structures can be set up in the Cayman Islands for a wide range of purposes, including asset protection, estate planning and business succession. The top legal firms in Grand Cayman have proven track records in commercial and private trusts, including trust and foundation company formation and establishing private trust companies. These firms also advise on the regulatory and operational requirements relating to trust and foundation company structures. See pages 64-68 for legal firms that can help you establish a trust or foundation company in the Cayman Islands.

INVESTING IN CRYPTOASSETS

The financial services industry in the Cayman Islands is well positioned to support this class of digital assets with both decentralised and centralised economic models. The Virtual Asset (Service Providers) Act (2020) or VASP Act, has introduced a framework to regulate digital assets and ensure that any risks associated with such activities are analysed and mitigated, that any benefits are realised in a manner consistent with a well-regulated financial services jurisdiction, and that sensible measures are developed for blockchain innovation to thrive. The general procedure is to purchase, transfer and store a crypto asset(s), as follows:

(i) Purchase: Open an exchange account (e.g. Bitfinex, Uphold or Coinbase) and fund this account with a fiat currency.

(ii) Transfer: The most secure way to store cryptoassets is within an application known as a digital wallet. Leading examples include hardware wallets such as Ledger or Trezor, and hot wallets like MetaMask for Ethereum

cryptoasset storage solution. The wallet has a deposit key which appears as a random set of characters. This is known as your public key (comparable to a username). The exchange will have a withdrawal function requiring your public key to send blockchain transaction instructions, moving cryptocurrency under the control of the user’s public-private key pair to a chosen recipient address. Once the transaction is executed on the exchange, a global network of computers (representing the decentralised governance) will process the transaction and publicly confirm its successful completion.

(iii) Store: Your cryptoasset is now stored under the control of your public-private key pair. The keys are held in your digital wallet while the cryptoassets remain on their relevant blockchains, ready for you to make purchases to another wallet or initiate further transfers.

Anyone looking to secure large values of cryptoassets should first speak to a technical expert as transactions are effectively irreversible and security standards and

features are constantly being improved.

PRECIOUS METALS & SECURE STORAGE

Owning physical gold and silver offers investors opportunities for both wealth preservation and wealth appreciation across a wide spectrum of economic scenarios. Purchasing and storing precious metals in the Cayman Islands is very easy to do.

There are no import or export tariffs on precious metals coming to or leaving the country (with the exception of numismatic coins). Additionally, there is no sales tax on the storage of precious metals, and the jurisdiction imposes no income or capital gains taxes. This absence of direct taxation is particularly attractive to investors in precious metals.

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and secure storage provider. They specialise in the acquisition, secure storage and liquidation of precious metals. SWP caters to individuals, companies, trusts and wealth management professionals, ensuring their clients’ assets are managed with utmost security and efficiency. All stored metals are 100% allocated, segregated and insured. SWP offers comprehensive services, including the delivery of precious metals to homes and businesses across North America and secure storage in state-of-the-art vaults located in the Cayman Islands, Canada, the United States, Switzerland, Singapore and New Zealand. SWP holds the distinction of being approved members of the London Bullion Market Association, the Singapore Bullion Market Association, the International Precious Metals Institute, Industry Council for Tangible Assets, as well as Cayman Finance.

INVESTING IN A CAYMAN PENSION

According to the National Pensions Act, all participants (members) in a private pension plan can choose, upon retirement, to purchase an annuity or begin drawing down the balance in their pension account. In June 2024, the Department of Labour and Pensions announced that the annual disbursement of funds under a Retirement Savings Arrangement (RSA) had been increased by 6.2%, from CI$14,125 per year to CI$15,000.

We explain in detail here how the withdrawal of your pension funds work in the Cayman Islands. When you retire, whether that is 65 (the official ‘age of pension entitlement’) or as early as 50 with special restrictions, you can draw down a percentage of your pension pot based on your age. At 65, this would be between 2.05% and 5.11% of your total pension pot, or, if your maximum drawdown allowance does not reach an annual total of CI$15,000, then you are given an annual allowance of CI$15,000, which can be paid monthly, quarterly or annually until the balance of your pension is zero. If a member has a pension balance of CI$200,000 and wishes to draw down the maximum from their pension at

age 65, this is calculated as $200,000 x .0511, which gives a total of CI$10,220. As this is below the minimum threshold of CI$15,000, the member will receive CI$15,000 per annum. If, however, the member had a balance of CI$500,000 at 65, then they would receive CI$25,550 per annum. This drawdown schedule can be found on some pension plan websites. There are a few other things to consider:

1. If a member has made additional voluntary contributions (AVCs), these can be withdrawn as a lump sum at normal retirement (65).

2. Before retirement, members can access their AVCs for four specific ‘hardship’ reasons, namely – temporary unemployment for a maximum of six months, medical bills for non-elective medical treatment only, housing to purchase land or a home, construct a home or pay off the balance of a

3. All pension plans are required to provide each member with a semi-annual statement, which must show the date payments were received from the employer, the amount received and the contribution period.

4. Employers that avoid paying pensions are issued strict fines. A first conviction of non-compliance attracts a fine of CI$20,000 or imprisonment for up to two years, or both. A second offense attracts a fine of CI$50,000, 3 years in jail, or both.

5. Interest shall accrue on delinquent contributions that are not received by the 15th day following the earnings month. The administrator of the pension is required to notify the affected employees within 60 days of the notification to the Director.

Private pensions were made mandatory in 1998, and since then, the Government

Coupled with the emergency withdrawals during COVID-19, which saw members withdraw almost CI$500 million from various plans, many have good reason to worry that their pension will not provide a meaningful income when they retire. In fact, at the current contribution rate of 10%, a member will contribute one year of their average earnings for every 10 years they are contributing to their plan, meaning that those looking to retire in the near future might expect to see a balance representing just two years’ worth of their income, plus investment returns, less fees and withdrawals.

As most retirement professionals believe that a person should contribute between 17% and 20% to their retirement investment for a minimum of 40 years, Cayman’s private pension system will achieve little more than an income supplement for most pensioners. We understand that the Government has been well aware of this for many years and are looking into increasing the contribution

Wealth Managers will guide you to select the best strategic investment options as we help you chart your course to financial success.

rate to 15% in late 2024. In many other jurisdictions, individuals benefit from government-funded social security to supplement their retirement income; they are given tax breaks on registered savings plans if the money is not withdrawn until retirement and have higher pension contribution rates. As these benefits do not yet exist in Cayman, individuals should speak with their pension provider or a financial planner if they are concerned about their retirement income. At a minimum, it is recommended that those who withdrew funds from their pension account in 2020 should make provisions to repay those funds to their pension by making additional voluntary contributions over a few years when they have the means to do so. After these additional contributions have been deducted from the employee’s salary for some time, it’s likely the funds won’t even be missed and the increased contribution rate could be carried forward indefinitely. Ultimately, this will make for a more meaningful and comfortable retirement.

The Public Service Pensions Fund continues to be the pension leader in the Cayman Islands, and as of 31st December 2023 the market value of the Fund was CI$1.134 billion. In 2023, the Fund achieved an exceptional return of 19% and it was this return that ranked the Fund in the top 1 percentile of its peer group for performance in the year. The Public Service Pensions Board continues to complete major initiatives relating to system self-service, risk management, appropriate oversight within the Authority and increased audit, with the results being enhanced services and retirement income for members who have served the Cayman Islands.

In 2023, the relative downturn in Cayman’s real estate market began and continued into 2024. Freehold transfers in 2023 were 2,198, down from 2,659 in 2022, with a total consideration of CI$1,079,577,044, down from CI$1,238,367,669 in 2022. However, it is important to contextualise

this with previous years which were— mid-pandemic and immediately postpandemic—bumper years. For example, 2021 was the first time that the local market topped CI$1 billion in sales. And, for the first part of 2022, the future looked bright with one CI$100m sales month followed by another. It wasn’t until the middle of 2022 when interest rates started to rocket, that the market started to trough and the cost of borrowing dampened property watcher’s spirits, albeit only in certain areas of the Cayman market.

It is therefore no surprise that the market couldn’t sustain itself, and in 2023 a quantifiable downward trend began. But, whilst it’s true there was a decrease in the number of sales and total value sold when comparing 2023 to 2022 (about 25%), there was some good news by way of an increase in the average value of each sale, demonstrating just how robust and insulated Cayman’s property market is. According to figures from CIREBA, the average ‘price sold’ value in 2023 was 18% higher than 2022, and the average price of sold residential property was up 11%. Not to mention, these properties spent about 23% less time on the market.

For all the local market’s buoyancy however, interest rate hikes do affect local buyers, specifically those on the bottom rung of the property ladder. Prime lending rates at local banks are always more than the US Fed rate which, in July 2024, was 8.5%. This will continue to stimy this portion of the market, given the significant increased costs of borrowing and reduced availability of cash.

In 2024, we saw more of the same. Speaking to Fleur Peck at Blue Point Consultants, we learned that for the first six months of 2024, there were a total of 1,134 freehold transfers, down slightly from 1,185 for the same period in 2023. There was an increase in the average value of each transaction, from just over CI$501,000 for the first six months of 2023, up to just under CI$535,000 for the same period in 2024.

In addition to soaring interest rates,

rising insurance costs negatively impacted homeowners and property investors, as they faced significant increases in their premiums over the past two years, with hikes of around 40% on average, and up to 100% in 2023. This is due to a number of factors, including increased storm and natural disaster activity worldwide because of global warming, a shortage of reinsurance coverage, material supply shortages, and an increase in building costs. In some cases, insurance is incredibly difficult or impossible to obtain, especially for new projects.

Demand Outstrips Supply

Considering there seems to be an endless amount of construction of residential properties going on in Cayman, it may seem counterintuitive when the experts say that real estate inventory is low, but it is important to realise the rate at which the population of Cayman is increasing. In truth, there are not enough new, reasonably priced homes being built to meet demand, due to a shortage of land and construction costs remaining high since the pandemic. Although many of the new-build condominiums are trending towards smaller unit sizes, this is more to keep construction costs down and to maximise on unit numbers, rather than make them affordable to first time buyers. Throw into the mix that prospective homeowners (or renters for that matter), are now looking for a property that offers the freedom to work from home as well, this all adds to a lack of suitable inventory.

The Labour Force Survery published in February 2024, put the population at 85,000 and climbing, so whilst it may appear that there is more than enough inventory on the market (and property prices should therefore decrease), appearances can be deceptive. Affluent investors generally buy up any surpluses of units quickly, subsequently renting them to the influx of new expatriates increasing year on year. Adding to the list of buyers, as of December 2023, Caymanians and Permanent Resident holders can use

pension funds as a deposit for buying or building a home or condominium.

An estimate by the National Roads Authority for the purposes of traffic management, put the Cayman population at 100,000 by 2036. But, if a country offers excellent quality of life, investment opportunities, an amazing location, low crime, tax neutrality, no foreign investment restrictions and growing employment opportunities, it’s a nobrainer that the population is going to grow exponentially and more importantly, need somewhere to live.

Local Development Plan

There is concern surrounding the number of developments currently under construction and the growing population, and what impact these two things will have on the increasingly bad traffic situation and, more importantly, the environment. In May of 2024, the Government released a draft document for public feedback that could serve as the foundation for the first new national development plan in 28 years and ultimately, try to keep Cayman’s potential for over-development in check.

In addition, the Government is spending significant amounts on infrastructure. The Tourism and Transport Ministry is looking at the possibility of creating a national bus system, after commissioning a report from Deloitte on the state of Grand Cayman’s public transport infrastructure. The results showed that an estimated CI$25-35 million is needed in investment for any changes to be effective.

The Luxury Market Bubble

One sector of the market in Cayman which answers to no-one it seems, is high-end luxury accommodations. There is always strong demand for Seven Mile Beach facing units within the built residential sector, with the newest condominium developments, such as Watermark, attracting record-breaking figures. Anything on the oceanfront of Seven Mile Beach sells quickly. Supply

is so low that high-net worth individuals are actually frustrated and may potentially look to other Caribbean destinations. The problem for Cayman is its size. There’s only so much beach space and ocean views possible, unless developers start building upwards.

Likewise, house prices in popular areas close to town, such as Snug Harbour, Crystal Harbour and South Sound, have been increasing at a significant rate as desirable land available for construction grows scarce. Due to that scarcity, there are many new developments upcoming in the West Bay area, which has land available for development and the infrastructure to support rush hour traffic, unlike those areas east of George Town where traffic continues to be a major issue. Property in Cayman will always be a good investment given the robust and consistent nature of the market. Purchased properties that can be rented to transient workers or tourists will always pay dividends. However, at this time, if you are not a cash buyer, with expenses as high as they are, the current wisdom is to consider all your options carefully and keeping a patient long-term mindset is crucial. Turn to our Finding A Home chapter for a detailed overview of Cayman’s real estate industry and practitioners.

INVESTING IN ANNUITIES

Fixed annuities are single premium investment products that provide the ability to earn guaranteed interest over a fixed term. They are a great way to

protect and grow accumulated savings without downside risks. An individual has the choice to select the duration of their desired investment, which corresponds to a fixed rate of return. Generally, the longer an individual invests, the higher the rate of return. Interest is credited every day and compounded annually.

At the end of the fixed term, a guaranteed amount is earned. This amount does not depend on market performance; rather, it is based on the guaranteed interest rate stated in the contract. Fixed annuities are for investors that seek both reasonable investment returns and the safety of their principal over a medium to long-term period. It is also for individuals who want the option, but not the requirement, to convert their savings into a monthly guaranteed payment over a stated period or their lifetime. Given the increasing reality of outliving financial resources during retirement, most individuals should consider allocating at least some of their savings to a fixed-return product like an annuity. Typically, the percentage allocated to a fixed product should increase as a person gets older.

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Business

How to set up a business in Cayman, the legal formalities, trade and business licensing requirements, finding commercial office space, business services, computers and office supplies.

As a well-regulated international financial centre with world-class infrastructure and political stability, the Cayman Islands offers an ideal environment for businesses to flourish. As a result, the business sector in Cayman is booming. The Cayman Islands’ regulatory framework is being continuously enhanced to ensure that the Cayman Islands remains aligned with international standards and expectations. With a well-developed common law system based on English law and a local base of world-class corporate service providers, many international businesses have chosen to incorporate or register in the Cayman Islands. This chapter is your complete guide to setting up a business.

Legal Formalities

A business in the Cayman Islands can be run as a sole trader operation, a partnership or a company. It is also possible for a foreign company to register in the Cayman Islands so as to be permitted to operate locally for such purposes as, for example, being the general partner in a Cayman Islands limited partnership. The main distinction is that sole traders and general partners of an unregistered partnership firm have unlimited liability to third parties doing business with them, whereas the shareholders of a company typically have limited liability to third parties doing business with the company. The differences in, and suitability of, various types of business structures

Photos courtesy of Kirk Office, Ready Spaces & Rebecca Davidson

are highly technical and are best discussed with a qualified Cayman Islands attorney.

Where two or more people want to go into business together but wish to avoid all the formalities and expenses of a company, a partnership structure may be more appropriate. Professional advisors, such as lawyers and accountants, have traditionally used a partnership structure for their business. A partnership generally has less legislative governance requirements than a company and can be more flexible in its treatment of the partners’ responsibility for liabilities and share of profits. Partners are also personally liable for any debts the business incurs, except for in the case of a registered Limited Liability Partnership, where the limited partners generally enjoy limited liability.

A company may be used where the owners and operators of the business wish to ensure limited liability for the debts of the business. Companies are commonly used for all sorts and sizes of businesses. There are more formalities and fees associated with forming and operating a company than with a partnership or sole trader business; however, for many, the benefit of limited liability attached to a company offsets the extra effort and cost for the formation and operation of a company.

Foreign businesses that do not wish to establish a Cayman Islands subsidiary have the option of registering a branch operation in the Cayman Islands. The process of registering a branch with the Cayman Islands Registrar of Companies is straightforward. The branch, once registered, is required to maintain a local registered agent and pay annual fees to the CI Government in order to maintain its registration. If your aim is to operate a business within the Cayman Islands, it is likely that some form of local licensing will be needed. More details on the local licence procedure are given later in this chapter.

For a business that is at least 60% beneficially owned and controlled by one or more Caymanians, the acquisition of a Trade and Business (T&B) Licence is required. Where beneficial ownership

and control does not meet this threshold, a Local Companies (Control) Licence (LCCL) may be required. The grant of the LCCL is a matter of discretion for the Trade and Business Licensing Board on the basis of various statutory criteria focusing on the protection of local interests and the benefits that the business would bring to the Islands, in addition to the extent to which Caymanian participation has been sought (which will ordinarily include a requirement for public advertising) and whether the proposed business will compete with any local Caymanian-owned businesses.

Businesses wishing to set up a physical presence in the Cayman Islands, but whose activities are carried out mainly outside the Islands are, in most cases, exempt from the Local Companies (Control) Law. As such, although a T&B Licence is required in order to set up their local office and apply for work permits for any expatriate employees, they would not need a Local Companies (Control) Licence or need to meet the 60% Caymanian ownership threshold.

It should be noted that banks, trust companies, company management firms and a number of other businesses in the financial sector are exempt from the T&B and LCCL regimes, though they would need to secure the necessary licences from the Cayman Islands Monetary Authority (CIMA). A different regulatory regime is available for businesses in certain approved categories seeking to set up within the Cayman Islands’ Special Economic Zone. For more information see page 54.

Sole Trader

Due to immigration requirements and the rules governing the grant of a T&B Licence, in practice, only a Caymanian will be able to operate a business as a sole trader if they are competing in the domestic market. A sole trader is able to start their business by simply offering services or goods in return for payment, with very few formalities depending on the type of business. The sole trader can employ people to work in the business, but is personally responsible for all the liabilities of the business (e.g. rent,

T&B Licence fees, salaries and benefits for employees) and is also the person who receives all the profits. As indicated previously, however, a foreign national doing business internationally from a base within the Cayman Islands will generally only be able to obtain a licence and operate in Cayman if they first incorporate a suitable Cayman Islands company and obtain the relevant licences for that entity. There will be no requirement for such an entity to have any Caymanian participation.

Partnerships

One form of partnership is where all the partners are ‘general’ partners and participate in the management of the business. In this structure, the only restrictions on sharing profits and withdrawing capital are those agreed between the partners. As well as general partnerships, the Partnership Act sets out the rules for ‘ordinary’ limited partnerships. However, limited partners must not participate in the management of the business, and a limited partner’s right to share in the profits or withdraw capital is restricted. The Exempted Limited Partnership is another form of partnership specially designed to provide more flexibility to suit the needs of the financial industry in the Cayman Islands, and is typically used for carrying on business outside of the Cayman Islands. In all cases, you are advised to contact a specialist to determine the partnership arrangement most suitable for your needs.

In addition to the Exempted Limited Partnership, the Cayman Islands now acknowledges Limited Liability Partnerships (LLP). The LLP is a partnership with a separate legal personality and limited liability for its limited partners. It is intended as an alternative to ordinary limited partnerships. Generally, the LLP, rather than individual limited partners, is liable for the debts. Moreover, limited partners enjoy limited liability and there are no joint liabilities for acts or omissions of another partner, except for in certain

circumstances. The LLP is considered an attractive vehicle to professional services firms that have traditionally taken the form of ‘firm’ partnerships since it is designed for the conduct of business domestically, as well as for business overseas.

Companies & Limited Liability Companies (LLC)

A company that intends to conduct most of its business outside of the Cayman Islands would typically register as an exempted company. The key elements of an exempted company are that it is not required to keep a register of members open for public inspection (or hold an annual general meeting in Cayman), it is entitled to receive a tax-free guarantee from the Government of the Cayman Islands for up to 30 years, it can offer shares to the public in the Islands if listed on the Cayman Islands Stock Exchange (CSX), and finally, it may issue shares without nominal or par value. The company is a corporate body with separate legal personality and is able to enter into contracts and own property, as well as incur liabilities. A shareholder in a company has a liability to the company limited to the amount unpaid on the shares held by that shareholder and cannot be liable for the liabilities of the company itself. The company may distribute profits to shareholders by paying dividends, and a shareholder can only get their capital investment in the company back by selling the shares they have or by the company following certain formalities under Cayman Islands law required to return capital to the shareholder. Company formation and operation are governed by the Companies Act and under common law rules in the Cayman Islands.

The Cayman Islands also permits the formation and the registration of Limited Liability Companies (LLC). An LLC is a unique vehicle that blends key features of a Cayman Islands Exempted Limited Partnership with those of a Cayman Islands exempted company. Most notably, an LLC is not the typical company vehicle whereby the liability of shareholders is limited by

shares or by guarantee, but instead operates by reference to members’ capital accounts and capital commitments, with freedom of contract among members determining the internal workings of the company similar to an Exempted Limited Partnership. Yet, unlike an Exempted Limited Partnership, an LLC is a corporate body with a separate legal personality and whose members enjoy limited liability. An LLC is, therefore, a hybrid between an exempted company and an exempted limited partnership. It was developed to meet the demands of various global client bases that wish to operate a vehicle that offers the greatly increased flexibility of partnership capital accounting capability but within a corporate vehicle with separate legal personality. This hybrid approach is useful in a variety of investment spaces (such as investment funds, joint ventures and holding vehicles for a variety of assets, including ships) where some investors and service providers find the share capital accounting structure of a company somewhat cumbersome for certain transactions.

Cayman Islands Branches

An overseas company which 1) establishes a place of business; 2) commences carrying on business within the Cayman Islands (even ‘offshore’ business); or 3) proposes to own real estate situated in the Cayman Islands, must register as a ‘foreign company’ (essentially registering a branch) under Part IX of the Companies Act. A registered Cayman Islands branch will not have a separate legal personality from the main company headquartered overseas. In many cases, this is desirable for group operations which are required to maintain tax residency in a certain jurisdiction but wish to have a Cayman Islands presence from which to conduct certain business of the group.

In the case of a bank, trust company, insurance company, management company, mutual fund, mutual fund administrator or any entity carrying on securities investment business, a licence to conduct such business will be required

from CIMA, notwithstanding that the business is actually conducted outside the Cayman Islands. A Cayman Islands branch is able to secure a T&B Licence and, if necessary, a LCCL Licence in order to comply with the necessary legal requirements to set up a physical presence in the Cayman Islands.

Foundation Companies

Unlike the traditional company, a foundation company may, where a supervisor is appointed, have no shareholders and may entrench its objectives. Another key element of a foundation company is that the founder can give rights, powers and duties to whomever they want (not just to existing members, directors or supervisors). A foundation company may also entrench the objectives of the company or specific provisions within the constitution and may have by-laws to govern the exercise of discretion by those who have duties or powers under the constitution. The by-laws do not have to be filed and they do not affect a third party dealing in good faith with the foundation company. Being free of the perceived drawbacks of a company or trust, the foundation company provides an attractive alternative in a range of wealth planning, philanthropic, private and commercial scenarios.

Fund Administration

It is commonly acknowledged that Cayman’s success as an investment fund jurisdiction is due to a perfect combination of factors. These include: having a wellrespected legal and judicial system based on English common law coupled with a track record of servicing the top global asset managers in the space; being in the right time zone to serve the US market, which is a heavy user of the domicile; and attracting some of the world’s best service providers who are experts in their field, including fund accountants and auditors, fund attorneys, independent directors, fund administrators and trustees, all with over two decades of accumulated expertise. This familiarity

and concentration of expertise inevitably makes the establishment and ongoing operation of investment funds in the Cayman Islands more efficient in terms of timing and costs than less specialised jurisdictions. Most of the world’s top administrators are licensed to carry on business in the Cayman Islands and there are currently 70 fund administrators who are licensed in Cayman. A full list of registered fund administrators can be found on the Cayman Islands Monetary Authority website at www.cima.ky.

Funds & Investment Business

Common fund vehicles used in the Cayman Islands to operate mutual and private funds include the Exempted Company, the Segregated Portfolio Company, the Unit Trust and the Exempted Limited Partnership. Limited Liability Companies may be established and may serve as the fund vehicle, although they are more commonly used as holding vehicles or other vehicles within

the fund structure.

The Segregated Portfolio Company (SPC) is a single legal entity that enables the establishment of protected cells (known as segregated portfolios) providing statutory ring-fencing of the assets and liabilities of each segregated portfolio. A Unit Trust is usually established by declaration of trust or under a trust deed by a licensed Cayman Islands trustee whereby investors’ interests are represented by trust units.

The Exempted Limited Partnership is established by an exempted limited partnership agreement entered into by the general partner and one or more limited partners. This provides a second unincorporated vehicle and it can be formed as easily as the exempted company or the trust unit. Each type of vehicle can operate as an open-ended fund (where investors have the right to redeem their shares, units or interests at their own election), or as a closed-ended fund (where the right to withdraw shares, units or interests is made at the election of the

directors, trustee or general partner, as the case may be).

The investment funds industry is regulated and monitored by the Cayman Islands Monetary Authority (CIMA) through a number of pieces of legislation, including the Mutual Funds Act, the Private Funds Act and the Monetary Authority Act. An attorney can provide more information on structuring a fund in the Cayman Islands and can advise on the necessity for a licence or applicable regulation and assist in compliance with the formalities. For more information on investment funds, see the Cayman – A Global Financial Centre chapter.

Intellectual Property Legislation

The Cayman Islands Government has, in recent years, modernised the country’s intellectual property laws to provide better protection for the works of people involved in creative and business endeavours. By improving copyright, trademark, patent and design rights legislation,

a step ahead of your competitors!

your trade marks, copyright, patent and design rights with the Cayman Islands Intellectual Property Office (CIIPO).

the Government has also improved the local commerce framework. Intellectual property protection has been significantly updated with the commencement of, amongst other things, the Design Rights Registration Act (2016), the Trade Marks Act (2016) and the Copyright (Cayman Islands) Order (2015).

The categories of original creations that are protected in the Cayman Islands have been expanded to cover music, film, art and other creative fields in every format, including digital, under copyright legislation. The Trade Marks Act (2016) allows individuals and companies to register their brands and company logos locally. It also gives legal protection against counterfeiting and infringement, allowing local and international companies to be confident in what they create in the Cayman Islands, while providing an incentive for local and international investors.

The Patents Act (2018 Revision) continues to allow patent holders the ability to register their rights in the UK and extend those rights to the Cayman Islands. The Design Rights Registration Act (2016) also allows design rights – the physical appearance of an industrial or handicraft item or a part of it – to be registered in the UK to be extended to the Cayman Islands.

Cayman Islands Intellectual Property Office (CIIPO)

Ground Floor, Government Administration Building, 133 Elgin Ave, George Town

Tel: (345) 946 7922

Email: info@ciipo.gov.ky www.ciipo.ky

The Cayman Islands Intellectual Property Office was established in 2016 to register all forms of intellectual property. The Cayman Islands has a modernised legal framework for IP, with coverage extending to trade marks, patents, design rights and copyright. Trade mark applications can now be made directly with CIIPO without having to first register in the UK or the EU. In 2023, CIIPO received 565 new trade mark applications. In addition to trade marks, there are 7,900 entries in the Register, including patents and designs. SEE AD PAGE 53

Cayman Islands

Department of Commerce & Investment (DCI)

The DCI is responsible for the grant and regulation of licensing for most businesses in the Cayman Islands. This includes the administration and issuance of Trade and Business Licences, Local Company (Control) Licences, Tobacco Permits, Liquor Licences, Music and Dancing Licences, Public Film Exhibition Premises Licences, and Special Economic Zone Company Licences. DCI is also responsible for issuing Cinema Licences, the enforcement and compliance of SecondHand Dealers and Intellectual Property matters and guidance and registration for Designated Non-Financial Business and Professions (DNFBP). For more information, see their website at www.dci. gov.ky.

Cayman Islands Centre for Business Development (CICBD)

The Cayman Islands Centre for Business Development (CICBD) is a business support organisation established by the Cayman Islands Government to support the growth and development of micro and small businesses across the Islands. Through a long-term relationship-based approach, CICBD's business advisors provide consulting, training and coaching services to strengthen the competences of small business entrepreneurs. CICBD provides services to enterprises at all stages of the business life cycle and works with business owners to co-create customised solutions for their specific needs. For more information on how CICBD can help, email: CICBD@gov.ky, call (345) 244 8009 or visit their website at www.cicbd. gov.ky. SEE AD OPPOSITE PAGE

Setting up a Single Family Office

The Cayman Islands is an increasingly appealing jurisdiction for the establishment and operation of single family offices. For more information on this topic, please see page 37 in the Cayman – A Global Financial Centre chapter.

Walkers (Cayman) LLP

190 Elgin Avenue, George Town

Tel: (345) 949 0100

Email: philip.paschalides@walkersglobal.com

Walkers’s private capital team is composed of selected specialists who advise on corporate, finance, investment funds, trusts and estates, and litigation matters. They work with highnet-worth individuals, family businesses, family offices, private banks and trust companies and their advisers to provide timely, customised advice across jurisdictions that address the particular sensitivities of private capital clients

Small Businesses

Commerce in the Cayman Islands is supported by the Government continuing to incentivise micro and small businesses by significantly discounting T&B Licensing fees. To be classified as a micro business, owners can only employ four additional employees and cannot exceed an annual gross revenue of CI$250,000. Small businesses cannot employ more than 12 employees nor exceed an annual gross revenue of CI$750,000. For business licensing information, call (345) 945 0943 or visit www.dci.gov.ky.

Cayman Enterprise City (CEC)

The Cayman Islands Government enacted the Special Economic Zone (SEZ) Act in an effort to diversify economic growth and attract additional foreign direct investment (FDI). CEC is an award-winning development project that consists of three SEZs focused on attracting knowledgebased and technology-focused businesses to set up a physical presence in the Cayman Islands. The zones included within CEC are Cayman Tech City, Cayman Commodities & Derivatives City, and Cayman Maritime & Aviation City. CEC enables businesses to easily and cost-effectively establish a genuine physical presence with staff and offices, to generate active business income in the Cayman Islands. CEC enables companies of all sizes to take advantage of investment incentives, unrestrictive immigration pathways and turn-key office solutions. CEC is home to the largest

innovation ecosystem in the region and facilitates over 360 SEZ companies.

Concessions and Reasons to Relocate to CEC

> 100% foreign ownership permitted

> Well-regulated and recognised free zone

> Secure, efficient and reliable IT infrastructure

> No local corporate, income, sales capital gains or payroll tax

> 100% exemption from import duties

> Fast, efficient and cost-effective set up within 4-6 weeks

> Five-year renewable work permits or residency visas granted within five days

> Five-year residency for employees and their dependents

> A safe, stable British Overseas Territory with robust laws

> Intellectual property owned offshore

> An appropriately business regulated environment

> Excellent service providers to support your business

> Easy access to North and Latin American

markets

> Ongoing support offered by CEC’s Client Experience and Global Mobility teams

Eligible Market Sectors

CEC can accept companies and divisions of companies active in these key sectors:

> Internet and Technology

> Media and Marketing (including digital media, film and broadcasting)

> Commodities and Derivatives (including fund managers, investment managers, virtual asset traders and prop traders)

> Biotechnology, Life Sciences and Green Technology

> Maritime Services and Aviation Services

Why Companies are Establishing in CEC Global Tax Mitigation

Companies are using CEC as part of their global structuring strategy as it provides them with the opportunity to costeffectively establish a genuine physical presence offshore, which can significantly enhance their competitiveness in the global

marketplace and enable them to generate a tax-exempt active business income in the Cayman Islands.

Work/Residency Visas for Staff

CEC enables businesses to immediately relocate key staff from any country of origin to the Cayman Islands, particularly those that may not be able to get visas for the US or Canada. CEC companies can obtain five-year work and residency visas for personnel within five working days.

Access to Global Markets

Companies are setting up within CEC and utilising the zone as a catalyst to increase global growth from a tax-neutral location.

Intellectual Property (IP)

Intellectual property can be held by a zone company and licensed internationally from this tax-neutral jurisdiction. Many CEC companies avail themselves of the benefit of establishing their IP offshore early, as part of their overall business strategy, in order to

maximise the value of this key asset for the whole of the company’s life cycle, avoiding costly migration issues later.

Set-Up Process

CEC’s plug-and-play model allows businesses of all sizes to quickly and efficiently establish a physical business presence in the Cayman Islands within 4-6 weeks. Packages include Zone Employment Certificates (work/resident visas) for staff, Zone Trade Certificates to operate the business and fully serviced office solutions, which include everything from data connectivity to janitorial. Thoughtfully designed community spaces and dynamic programming provide excellent opportunities to engage, network and grow your business offshore. For more information, call (345) 945 3722, email: innovate@caymanenterprisecity.com or visit www.caymanenterprisecity.com.

TRADE & BUSINESS LICENSING

In order for an individual, partnership or

company to conduct business in or from the Cayman Islands, an application must be made to the Trade and Business (T&B) Licensing Board for the grant of a T&B Licence. There are some exceptions, such as banks, attorneys, medical professionals, schools and non-profits, as these entities are either licensed through the General Registry, the Cayman Islands Courts, CIMA, the Department of Education or some other CI Government agency or authority. The T&B Licence fee is payable every year and the application for renewal must be made at least 28 days – but not more than three months – before the date of expiry of the licence. It is an offence to operate a business in the local market with the public of the Cayman Islands without a valid T&B Licence or an alternative licence (unless exempt). Some examples of those that are exempt might include Caymanian fishermen, artists and artisans. A company wishing to carry on business in the local market with the public of the Cayman Islands, which does not have at least 60%

FG Services Limited (FG) is the corporate services affiliate of FrancisGrey, Attorneys-at-Law. FG is a licensed Corporate Services provider and a registered Intellectual Property Agent. Our services include:

• Company & Partnership Formation

• Registered Office Services

• Economic Substance and Board Support Services

• Intellectual Property Agents (Trademarks, Copyright, Patent & Designs)

Caymanian ownership and control, will also need to obtain a Local Companies (Control) Licence (LCCL) from the T&B Board (unless it is otherwise exempt from such requirement). Each LCCL application is considered on its own merit and all relevant forms and information for both LCCL and related T&B Licence applications are readily available online at www.dci.gov.ky.

Incorporation/Registration

If you wish to incorporate or register a Cayman Islands entity that will conduct business outside of the Cayman Islands, you are required to engage a local licensed service provider to incorporate your company. This is a seamless process and most firms also provide services, such as registered office, corporate administration, management, directors and other officers of the company on the instruction of the beneficial owner(s). Online registration is now available and accessible through local licensed service providers. This is a secure access and not available to the public. Read on to see a list of top firms under Corporate Services. Note: Those wanting to register an ordinary resident company (also referred to as a 'resident company') may apply for registration directly. Information is available at www.cbp.ky or by contacting the Registrar of Companies on (345) 946 7922. You can also visit the General Registry on the ground floor of the Government Administration Building, 133 Elgin Avenue, George Town.

Application Process

Your locally licensed service provider will contact the Registrar of Companies and ask if the company name you want is available and then they will prepare the Memorandum of Association and Articles of Association. Other documents may be required based on the type of company you are incorporating.

e: cayman@francisgreylaw.com

Suite 2206, Cassia Court, 72 Market Street, Camana Bay

The Registrar does not require details of the proposed business for the registration of a new company, only the type of company being registered (such as resident,

non-resident or exempted company). The fees for incorporation vary depending on the type of company and share capital. For a typical resident company, with a share capital of less than CI$42,000, the fee is CI$300 and for an exempt company, the minimum fee would be CI$600. Your local service provider will have their own fee list. The company is deemed incorporated on the day the incorporation documents and fees are submitted to the Registrar, provided that the incorporation documentation is in good order. The processing time is approximately five to eight business days, unless submitted on an express basis (an additional fee of CI$400 applies to express processing), in which case the application will be processed within 24 hours during business days.

Company Registry Fees

The registration and annual fees for any company are dependent on the size of the authorised share capital. Also worth noting is that annual fees and annual returns are due in January of each year, but the Companies Registry is under no obligation to notify the company that the fees are due. If these fees are not paid by 31st March (of each year), they begin to accrue penalties up to 100% of the fee. Every company is responsible for paying these annual fees and filing the returns. If it has not been paid nor filed, the company is subject to being struck off the register after being in default for one year. If the company had assets at the time it was struck off, those assets will become the property of the Government of the Cayman Islands. If you were to overlook the fact that annual fees and returns were due, there is a risk that a company could be struck off without your knowledge. This is one of the benefits of using a locally licensed service provider, as they will process the annual paperwork and remind you of the amount and timing of annual fees. They will also keep you informed of regulatory updates and reporting obligations that apply to certain Cayman entities. The fees payable for these services are substantially lower than the costs of making an application to reinstate a company in circumstances where it has been struck off.

Corporate Services

The following are a few of the locally licensed corporate service providers who can assist you with the incorporation process. The usual fee for their services is between US$750–US$1,750, excluding Government filing fees. The other services they offer include the provision of a registered office; maintenance of statutory registers; handling of annual returns; drafting resolutions and minutes; providing certified, apostilled and notarised documents; updating the register of officers, shareholders and directors; maintaining the minute book; assisting with corporate restructuring; and revisions to the memo and arts. Some also provide director services.

Campbells Floor 4, Willow House, Cricket Square, GT

Tel: (345) 949 2648

HSM Corporate Services Ltd. provides corporate services in the Cayman Islands. HSM’s corporate team aim to work with our clients to achieve their objectives within the parameters of the structures available under Cayman Islands law.

• Incorporation of companies and Formation of Limited Partnerships

• Assisting in establishing bank accounts for corporate clients

• Company searches

• Corporate and Partnership filings

• Legalisation, notarisation and apostilling documents

•

www.campbellslegal.com

Campbells Corporate Services Limited (CCSL) holds an unrestricted trust licence issued by the Cayman Islands Monetary Authority and provides a full suite of company management and trust services to local and offshore clients.

SEE AD PAGE 157

CO Services Cayman Limited

Willow House, Cricket Square, George Town Tel: (345) 749 2000

Email: coscay@careyolsen.com www.careyolsen.com

CO Services Cayman Limited is a wholly owned subsidiary of Carey Olsen in the Cayman Islands and is regulated by the Cayman Islands Monetary Authority as the holder of a corporate services licence (No. 624643) under the Companies Management Act (as revised). Services include company, LLC and limited partnership formations, registered office and entity dissolution services.

Cayman Management Ltd. (CML)

Athena Tower, 6th Floor, 71 Fort Street, GT Tel: (345) 949 4018

Email: enquires@caymanmanagement.ky www.caymanmanagement.com

With 50 years of providing corporate governance for 1,000s of clients from Cayman, CML’s core service areas include: T&B applications, registered office, company registration, company management, fund services, independent director services, shipping, yacht and aircraft registration, private and family office, and Captive Insurance CSI International Underwriting (Cayman) Limited.

SEE AD PAGE 60

FG Services Ltd.

Suite 2206, Cassia Court, Market Street, CB Tel: (345) 815 2800

Email: cayman@francisgreylaw.com www.francisgreylaw.com

FG Services Limited (FG) is the corporate services affiliate of FrancisGrey, Attorneysat-Law. FG provides company and partnership formation, registered office, economic substance, board support and intellectual property services. FG is a licensed corporate services provider and a registered intellectual

property agent (trademarks, copyrights, patents and designs). SEE AD PAGE 56

Hampsons Corporate Limited

4th Fl, Apollo House East, 87 Mary Street, GT

Tel: (345) 623 7788

Email: pparker@hampsonandco.com www.hampsonandco.com

Hampson Corporate Limited is a licensed corporate service provider that offers a wide range of corporate and commercial fiduciary services, including advice on company incorporations and partnership registrations, corporate structures, restructuring and registered office services, amongst other services. SEE AD PAGE 59, 161 & 225

HSM Corporate Services Ltd.

68 Fort Street, George Town Tel: (345) 949 4766

Email: corporate@hsmoffice.com www.hsmoffice.com

HSM provides corporate services in a responsive, timely and cost-effective manner. Their services include incorporation of companies (including Special Economic Zone companies), assisting in establishing bank accounts, preparing and filing applications to the Registrar of Companies and the handling of re-domiciliation and transfer of companies. SEE AD PAG E 57, 89, 162 & 164

Ogier Global

89 Nexus Way, Camana Bay Tel: (345) 949 9876

Email: cayman@ogier.com

www.ogier.com/services/ogier-global

Ogier Global, Ogier's corporate and fiduciary division, provides integrated legal and corporate administration services. Renowned for governance and regulatory compliance, they collaborate with clients and Ogier’s legal teams, managing various vehicles. Their Cayman registered directors serve on boards of corporate funds, general partners, and advisory board partnerships, offering exceptional service, responsive solutions, and tailored compliance for Cayman fund structures.

Tel: (345) 327 2321

Email: info@owcservicesltd.ky www.owcservicesltd.ky

In addition to HR, immigration and Notary Public services, OWC offers personal and business services, including police clearance applications, affidavit drafting, Trade and Business Licence applications and company incorporations.

SEE AD PAGE 99

Sinclair Corporate Services (SCS)

3rd Fl, Genesis Building, 13 Genesis Close, GT

Tel: (345) 743 2626

Email: info@sinclairsoffshore.com www.sinclairs.com.ky

The Sinclair Group provides fast company incorporation within 24 hours of receiving satisfactory KYC documentation. They specialise in foundation companies which combine all the advantages of offshore companies with those of offshore trusts and can be used for investment holding, asset protection and estate planning. They offer company formations, corporate services, director services and ship registrations, as well as notarial and legal services. SEE AD PAGE 65

Stuarts Humphries

Kensington House, 69 Dr Roy’s Drive, GT

Tel: (345) 949 3344

Email: info@stuartslaw.com www.stuartslaw.com

A boutique law firm that provides a full suite of corporate services, including the provision of a registered office, company incorporations, directorships, licensing, secretarial services, strike-offs and liquidations, regulatory and compliance, management and administration services for entities registered in the Cayman Islands. Clients gain an integrated solution at competitive rates. SEE AD PAGE 66

Travers Thorp Alberga

2nd Fl, Harbour Place, South Church Street, GT

Tel: (345) 949 0699

OWC HR & Immigration Services

Wagner Building, 296 Shedden Road, GT

Email: info@traversthorpalberga.com www.traversthorpalberga.com Company formations, registered offices, company secretary and director services, and general corporate and commercial matters.

SEE AD PAGE 223

Independent Directors - Cayman

The Cayman Islands are the leading offshore domicile for hedge funds. As the Islands increase in sophistication, including their offering of innovative financial services products and the expansion of the digital assets space, regulators and investors have placed more stringent measures on fund directors to ensure good governance and oversight for fund structures. One of these requirements is the new rule and statement of guidance issued by the Cayman Islands Monetary Authority (CIMA) requiring directors of CIMA-regulated funds to establish a corporate governance framework and demonstrate to the regulator how they are monitoring and overseeing the relevant fund’s activities and investment strategy. The new rule came into effect in October 2023.

With this strong regulatory framework, including the obligation for directors of CIMA-regulated funds to register as professional directors (where a person is to be appointed as a director of 20 or more

CIMA-regulated funds or managers) or registered directors (where a person is to be appointed as a director of less than 20 CIMA-regulated funds or managers) under the Directors’ Registration and Licensing Act, the regulator can have more comfort about directors acting in the best interests of the relevant fund and investors.

The ongoing enhancements are also vital because the number of fund structures and fund managers under CIMA’s regulatory remit has increased over the years due to changes in legislation requiring more vehicles to register with CIMA. Examples include amendments to the Mutual Funds Act, Securities Investment and Business Act, and the introduction of the Private Funds Act, which captures many vehicles that were not previously registered with CIMA.

Another reason for the introduction of new rules is that Cayman had come under pressure from institutional investors and overseas regulators (such as the International Organisation of Securities

Commissions (IOSCO)) to enhance its regulatory regime in relation to governance and anti-money laundering monitoring. By taking these steps, not only does Cayman stay competitive, but reaffirms its position as the world’s hedge fund domicile of choice – over the likes of Dublin and Luxembourg – as it seeks to strike a balance between being sufficiently regulated, without the regulations being overly burdensome, and therefore keeping Cayman attractive to new investors.

A few well-known firms of directors based in Grand Cayman include Cayman Management, Waystone, Pontis Global, the Carne Group and HighWater. There are also director services providers affiliated with law firms, such as Stuarts Humphries, Maples Group and Walkers.

Cayman Management Ltd

Athena Tower, 6th Floor, 71 Fort Street, GT Tel: (345) 949 4018

Email: enquiries@caymanmanagement.ky www.caymanmanagement.com

Corporate Services, Business Licencing and Investment Funds

In affiliation with Hampsons Corporate Limited, we are able to offer clients numerous corporate services to assist in the operation of their Cayman Islands based entities.

Cayman Management has deep expertise with over 50 years of providing corporate governance for thousands of clients. Their core service areas include the following: T&B application, registered office, company registration, company management, fund services, independent director services, shipping, yachts and aircraft registration, private and family office and captive insurance, through CSI International Underwriting (Cayman) Limited. SEE AD THIS PAGE

To open a business bank or trust account in the Cayman Islands, you will need to complete a very detailed application, as well as provide the following information:

> Full incorporation paperwork

> Written request to open a new account on company letterhead giving an overview of the business (e.g. clients, number of staff and how revenue is generated) and reason for needing the account

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> Certificate of incorporation, certified by a Notary Public

> Articles and Memorandum of Association, certified by a Notary Public

> Annual report, financial statements, auditors reports or business plan

> Certificate of Good Standing, if business is older than one year

> Register of members, officers and directors, certified by the registered office or a Notary Public

> The identity of each ultimate beneficial owner, director and signatory. This must be supported by a certified copy of their passports and proof of residential address

> If the business is conducted within the Cayman Islands, a copy of the current Trade and Business licence and/or relevant operational licence will be required

> Professional reference from an accounting or law firm and a professional reference from a bank that indicates a good relationship of over three years

> Nature and dollar volume of anticipated transactions, including source of funding of initial and subsequent deposits. This can be provided from a copy of the Business Plan if the company is new, or latest financial statements if the company is operational

> Tax declaration form for company/trust/ beneficial owners

> All directors, members and signatories must also supply all relevant information, including a certified copy of the partnership agreement.

Depending on the bank, there may be additional due diligence for trust accounts including:

> Full information regarding the trust, e.g. nature and purpose, country of establishment, proof of regulation, etc.

> Certified copy or certified extract of trust deed

> Statement/nature of assets of the trust and value

> Identification and verification of all connected parties, i.e. beneficiaries, settlors, grantors, controllers, etc.

If there are more than a nominal number of shareholders, the bank requires

identification and references for the principal shareholders (those who own 10% or more of the shareholding), directors and officers responsible for the operation of the account. Companies incorporated in other countries require notarised documents to verify the bona fides of the company. All banks in Cayman welcome business from corporate companies.

Butterfield Bank (Cayman) Limited

12 Albert Panton Street, George Town PO Box 705, Grand Cayman KY1-1107

Tel: (345) 949 7055

corporate.cayman@butterfieldgroup.com www.butterfieldgroup.com

SEE AD PAGE 123

Cayman National Bank Ltd.

PO Box 1097, Grand Cayman KY1-1102

Tel: (345) 949 4655

Email: cnb@caymannational.com www.caymannational.com

SEE AD PAGE 125

CIBC FirstCaribbean

25 Main Street, George Town PO Box 68, Grand Cayman KY1-1102

Tel: 1 (800) 744 1168 www.cibcfcib.com/business-banking

PROVEN Bank Corporate & Private Banking

1 Gecko Link, West Bay Road, Grand Cayman PO Box 914, Grand Cayman KY1-1103

Tel: (345) 949 7822 corporateandprivatebanking@provenbank.com

The Corporate and Private Banking team offers dedicated relationship managers to guide you through the application and onboarding process, swift account set-ups, operating and business savings accounts, business credit cards, term deposits, payroll services, e-commerce, overdraft services and corporate lending. SEE AD PAGES 61 & 124

RBC Royal Bank (Cayman) Ltd.

PO Box 245, Grand Cayman KY1-1104

Tel: (345) 949 4600

www.rbcroyalbank.com/caribbean

Scotiabank & Trust (Cayman) Ltd.

Scotia Centre, 18 Forum Lane, Camana Bay PO Box 689, Grand Cayman KY1-1107

Tel: (345) 949 7666

www.scotiabank.com

OTHER FORMALITIES

Work Permits

All businesses will require work permits and/or other relevant permissions for any non-Caymanian staff engaged in gainful employment in the Cayman Islands. Details of such requirements can be found in the Immigration chapter.

Employee Entitlements

Cayman’s current Labour Act (2021 Revision) sets out the minimum entitlements that must be provided by an employer to its employees. There is no requirement for the employer to provide a contract of employment, but the terms and conditions of the job are required to be set out in a statement and provided to the employee shortly after commencing

employment. Essentially, the minimum terms and conditions for leave, set out in the Labour Act, include two weeks annual vacation, increasing up to three weeks after four years and four weeks after 10 years of service. This is in addition to the (approximately) 11 public holidays scattered throughout the year. Employees are entitled to 10 paid sick days each year and 12 weeks maternity leave (20 days of which are at full pay and a further 20 days at half pay). Nine weeks adoption leave is available for female employees (of which 15 days are at full pay). Upon termination of employment by the employer, there is an entitlement to severance pay equal to one week’s pay for each completed year of service. There is a statutory unfair dismissal scheme which provides compensation equal to one week’s pay for each completed year of service.

Health Insurance & Other Benefits

Employers are required to ensure that all employees, their unemployed spouses and

dependents have health insurance. See the list of Health Insurance Providers in the Health & Wellness chapter.

Employees are also entitled to a pension plan. Similar to other parts of the world, employers may offer enhanced benefits to prospective employees and it is not uncommon to see employers offering enhanced vacation leave, relocation expenses, additional pension contributions, bonus options, upgrades to premium health insurance and private school fees.

BUSINESS SERVICES

Accounting & Auditing Firms

Accounting firms in the Cayman Islands provide a broad range of advisory, administrative, risk management, auditing and consulting services that are specifically tailored to Cayman’s well-regulated business environment. Each year, more than 250 professional accountants move to Cayman and begin an 18 to 24-month contract, many working in the audit industry. Every major audit firm is represented here in Cayman, including the 'Big Four’ but we also have an incredible inventory of midtier accounting firms, each of which offers a unique environment with its own speciality areas and culture. As a full member of the International Federation of Accountants (IFAC), the Cayman Islands Institute of Professional Accountants (CIIPA) facilitates trust and confidence in the Cayman Islands and the accounting profession through knowledge, resources, advocacy and regulation. The institute’s strategic objectives focus on influence, relevance

and excellence. Tel: (345) 749 3360, email: admin@ciipa.ky or visit www.ciipa.ky.

Baker Tilly (Cayman) Ltd.

Governors Square, 23 Lime Tree Bay Avenue Tel: (345) 946 7853

Email: info@bakertilly.ky www.bakertilly.ky

Baker Tilly (Cayman) Ltd. is an independent member of Baker Tilly International, and is a leading firm of Chartered Accountants and Business Advisors in the Cayman Islands. They provide a wide range of services to companies domiciled in the Cayman Islands, in particular, mutual funds and captive insurance companies registered with the Cayman Islands Monetary Authority.

BDO Cayman Ltd.

Governors Square, 23 Lime Tree Bay, SMB Tel: (345) 943 8800 www.bdo.ky

BDO CRI

Century Yard, Cricket Square, 171 Elgin Avenue Tel: (345) 769 8820

They specialise in insolvencies.

Deloitte

8th Floor, 60 Nexus Way, Camana Bay Tel: (345) 949 7500 www2.deloitte.com

EisnerAmper Cayman Ltd.

Century Yard, Cricket Square, 171 Elgin Avenue, GT Tel: (345) 945 5889

Email: bleung@eisneramper.ky www.eisneramper.ky

EisnerAmper Cayman Ltd. is approved by the Cayman Islands Monetary Authority to audit hedge funds, private funds, captive insurance companies and trust companies. They are experts at conducting audits under International Standards on Auditing and US GAAS. Their focus is on financial service companies and commercial companies.

EY Cayman Ltd.

62 Forum Lane, Camana Bay Tel: (345) 949 8444 www.ey.com

Grant Thornton Cayman

2nd Floor, Century Yard, Cricket Square, GT Tel: (345) 949 8588

Email: info@ky.gt.com

KPMG

SIX, Cricket Square, George Town

Tel: (345) 949 4800

Email: kpmg@kpmg.ky

PwC

18 Forum Lane, Camana Bay Tel: (345) 949 7000

Email: ky_hc@pwc.com

Rawlinson & Hunter

2nd Fl, Windward 1, Regatta Office Park, SMB Tel: (345) 949 7576

Email: mail@rawlinson-hunter.com.ky

Advertising Agencies, Social Media Consultants & Web Design Services

The Cayman Islands has a great selection of creative agencies providing exceptional advertising, marketing, branding and public relations services that can provide you with the right tools to promote your business on-Island. These include AirVu Media (email: info@airvumedia.com), BB&P Brand Interactive (email: simon@bbandp. com), Hark Marketing Agency (Tel: (345) 936 0193), Heights Agency/Julian Foster (email: hello@heights.agency), MC2 (Tel: (345) 946 1220), Massive Media (Tel: (345) 947 6677), Netclues Inc. (Tel: (345) 525 9999), Not Your Standard Agency (Tel: (345) 745 6972), Savage Consulting (Tel: (345) 326 3333),

Tower Marketing (Tel: (345) 623 6700) and Wigglypen (Tel: (345) 916 8562).

Bookkeeping & Accounting Services

HLB Berman Fisher

Tel: (345) 924 3363

Email: info@bermanfisher.com www.bermanfisher.com

Omni Cayman

Tel: (345) 547 4473

Email: info@omnicayman.com www.omnicayman.com

Omni Cayman are Certified QuickBooks Pro Advisors offering professional accounting services. They have a team of qualified professionals with over 20 years’ experience in the Cayman market. The team members have gained their experience working for Cayman’s top firms, such as Deloitte, KPMG and BDO. Omni provides full-service professional outsourcing, as well as individual and corporate US tax filing and consulting services.

SEE AD THIS PAGE

Business Insurance

If you run a business, it is important that you are fully protected for your property, business interruption and liability exposures, whether it is caused by fire, hurricane or injury losses. To find the right insurance for your business, call the qualified advisors at one of Cayman’s top insurance providers on page 136-139 or see below for companies who specialise in business-related insurance products.

CG BritCay

BritCay House, 236 Eastern Avenue, GT Tel: (345) 949 8699

Email: info_ky@cgcoralisle.com www.cgcoralisle.com

CG BritCay can design business insurance plans that provide wide-ranging cover, including property, asset and profit protection, as well as protection against the potential legal liabilities of running a business. SEE AD PAGE 136

Gallagher Insurance Brokers (Cayman) Ltd.

Alissta Towers, 85 North Sound Road, GT

Tel: (345) 945 0030

Email: scott_wallace@ajg.com

www.ajg.com/caribbean-islands

Gallagher Insurance Brokers is the largest insurance brokerage in the Caribbean. Gallagher Cayman offers commercial business insurance solutions, including property, liability, business interruption and professional indemnity. They also have exclusive specialty insurance products designed for the financial services industry. SEE AD OPPOSITE PAGE

Conference & Meeting Facilities

A host of large international conferences are held each year in Grand Cayman at The Ritz-Carlton, the Marriott and the Kimpton Seafire Resort. However, there are also a lot of smaller meetings and conferences held throughout the year, and for this, a handful of very professional and well-presented spaces are available for rent on a half or full-day basis. Compass Media has two well-known event spaces which can hold between 120-130 people. These include The Vault and The Loft. For more information, call (345) 949 5111 or email: eventspace@compassmedia.ky. You can also try the Caribbean Club (Tel: (345) 623 4500) which has a dedicated boardroom available for rent.

IT Services & Support

Creative Tech Ltd.

Suite 101, Cannon Place, North Sound Road, GT

Tel: (345) 946 8324

Email: info@creativetechltd.com

Creative Tech offers IT infrastructure, computers, IT support, document solutions, conferencing and AV systems.

Kirk ISS

67 North Sound Road, George Town

Tel: (345) 623 4730

www.kirkiss.ky

Kirk ISS provides IT solutions and support for businesses of all sizes. They are a six-time Microsoft Partner of the Year and Gold-level partner with HPE Aruba Networks, Mitel, Cisco and Fortinet. With over 100 certifications across networking, cyber security, servers, storage, cloud, communications and even managed IT services, Kirk ISS supports virtually every area of the IT department.

SEE AD PAGE 68

Office Supply Ltd.

Marquee Plaza, 36 Lawrence Boulevard, SMB Tel: (345) 946 1200

Email: info@officesupply.ky www.officesupply.ky

Packed with electronics and accessories, they offer full IT support and repairs, plus a printing centre. They are the exclusive dealer for SHARP business machines and Aquos boards, and are the authorised service providers for HP printers and computers, and Sharp multifunction business machines.

SEE AD PAGE 5

Legal Services & Attorneys-At-Law

Cayman’s top legal firms are internationally known, solution-driven and client-focused. These global players attract the top lawyers from London to Hong Kong, even from London’s magic circle firms. Most of Cayman’s top firms specialise in corporate and international finance law, focusing on investment funds, capital markets and

structured finance. Cayman law firms are also internationally renowned for advising top asset managers and institutional investors from around the world, as well as being involved in high-level international insolvency and restructuring deals.

Appleby (Cayman) Ltd.

9th Floor, 60 Nexus Way, Camana Bay Tel: (345) 949 4900

Email: cayman@applebyglobal.com www.applebyglobal.com. SEE AD PAGE 151

Bedell Cristin

18 Forum Lane, Suite 5305, 3rd Fl, Camana Bay Tel: (345) 949 0488

Email: caymanenquiries@bedellcristin.com www.bedellcristin.com

Bedell Cristin advises international and domestic clients on all aspects of Cayman Islands law. The firm’s sector expertise includes funds, regulatory and compliance, insurance, banking, trusts, corporate, insolvency and restructuring, local business licensing, immigration, real estate and Wills and probate. SEE AD PAGE 33 & 93 FrancisGrey

Boddens

Governors Square, 23 Lime Tree Bay Ave, SMB

Tel: (345) 943 0303

Email: hello@boddens.ky or www.boddens.ky

Broadhurst LLC

4th Floor, Monaco Towers, 54 Edward Street, GT

Tel: (345) 949 7237

Email: info@broadhurstllc.com

Campbells

Floor 4, Willow House, Cricket Square, GT

Tel: (345) 949 2648

www.campbellslegal.com

Campbells is a leading offshore law firm established over 50 years ago. From their offices in the Cayman Islands, the British Virgin Islands and Hong Kong, they provide comprehensive corporate and litigation advice and services to clients worldwide in relation to Cayman Islands and British Virgin Islands law.

SEE AD PAGE 157

Carey Olsen

Willow House, Cricket Square, George Town

Tel: (345) 749 2000

Email: cayman@careyolsen.com www.careyolsen.com

Carey Olsen is a full-service offshore law firm. Their lawyers in the Cayman Islands combine a global perspective with deep local knowledge. The team has been hand-picked to bring together leading specialists in investment funds, corporate and commercial, finance, insolvency, dispute resolution, trusts, private wealth and local business licensing.

Cayman Family Law (CFL)

Zephyr House, Ground Fl, 122 Mary Street, GT

Tel: (345) 746 5290

Email: info@caymanfamilylaw.com

www.caymanfamilylaw.com

CFL is a boutique law firm specialising exclusively in family law. Their talented team of lawyers offer expert advice and representation in all areas of divorce, children and family law, including matrimonial finance, pre and post-nuptial agreements, child custody arrangements, child and spousal maintenance, mediation, Wills, guardianship and more.

Collas Crill

2nd Floor, Willow House, Cricket Square, GT

Tel: (345) 949 4544

Email: cayman@collascrill.com

Conyers

SIX, 2nd Floor, Cricket Square, George Town

Tel: (345) 945 3901

Email: cayman@conyers.com

Dentons

2nd Floor, One Capital Place, Shedden Road, GT

Tel: (345) 745 5000

Email: info.ky@dentons.com

Forbes Hare

Suite 716, 10 Market Street, Camana Bay

Tel: (345) 943 7700

Email: cayman@forbeshare.com

FrancisGrey

Suite 2206, Cassia Court, 72 Market Street, CB

Tel: (345) 815 2800

Email: cayman@francisgreylaw.com www.francisgreylaw.com

FrancisGrey is a specialist corporate and commercial Cayman Islands law firm. The firm provides services in investment funds, banking and finance, intellectual property, regulation, trusts and private client, family law, conveyancing and employment law.

SEE AD PAGE 56 & THE OPPOSITE PAGE

HALO Legal Solutions

Tel: (345) 939 0079

Email: halo@haloindustriesllc.com www.hlscayman.com

HALO Legal Solutions is a full-service mobile business providing business and corporate administrative management services, corporate and legal office services and mobile Notary Public services to individuals, businesses, corporate and legal offices in the Cayman Islands.

Hampson and Company

4th Fl, Apollo House East, 87 Mary Street, GT

Tel: (345) 623 7788

Email: pparker@hampsonandco.com or kmclaughlin@hampsonandco.com www.hampsonandco.com

Hampson and Company's legal services range from investment funds, shareholder issues, banking issues, cryptocurrency transactions and licensing applications to the Cayman Islands Monetary Authority, real estate investments and more. SEE AD PAGE 59, 161 & 225

Harneys

3rd Fl, Harbour Place, South Church Street, GT

Tel: (345) 949 8599

Email: cayman@harneys.com

HSM

68 Fort Street, George Town

Tel: (345) 949 4766

Email: info@hsmoffice.com www.hsmoffice.com

HSM is a full-service law firm and their lawyers advise on the principal areas of corporate and commercial litigation, insolvency, property, private client and trusts. They have specialist lawyers handling business establishment in the Cayman Islands and related employment, immigration and relocation services.

SEE AD PAGE 57, 89, 162 & 164

Kobre & Kim

Suite 3207, 9 Forum Lane, Camana Bay

Tel: (345) 749 4000

www.kobrekim.com

Loeb Smith

5th Floor, Zephyr House, 122 Mary Street, GT Tel: (345) 749 7591

Email: info@loebsmith.com

Maples Group

Ugland House, South Church Street, GT Tel: (345) 949 8066

www.maples.com

The Maples Group, through its leading international law firm, Maples and Calder, provides comprehensive legal advice to global financial, institutional, business and private clients on the laws of the British Virgin Islands, the Cayman Islands, Ireland, Jersey and Luxembourg. With offices in key jurisdictions around the world, the Maples Group has specific strengths in areas of corporate commercial, finance, investment funds, litigation, regulatory financial services and trusts.

The Sinclair Group

Proudly in business for over 10 years

Company Incorporations in 24 hours

Specialists in Foundation Companies

• Corporate Services

• Legal Services

• Notary Services

• Ship Registrations

Sinclair Group Centre

3rd Fl, Genesis Building Genesis Close George Town, Grand Cayman KY1-1106

Switchboard (Cayman): +1 (345) 743 2626

Switchboard (London: +44 203 096 2232

Email: info@sinclairsoffshore.com www.sinclairs.com.ky www.sinclairsoffshore.com

Bryce Banks Company Manager

Direct (Cayman): +1 (345) 743 2628

bryce.banks@sinclairsoffshore.com

McGrath Tonner

5th Floor, Genesis Building, George Town

Tel: (345) 623 2740 or (345) 949 2740

Email: info@mcgrathtonner.com

www.mcgrathtonner.com

McGrath Tonner is a full-service law firm serving the local and offshore market in litigation and dispute resolution, corporate law, matrimonial and family law, Wills and probate, trusts, real estate conveyancing, immigration, judicial review, employment, criminal litigation, licensing and debt collection.

Mourant

94 Solaris Avenue, Camana Bay

Tel: (345) 949 4123

Email: caymanislands@mourant.com

Nelsons

The Grand Pavilion, 802 West Bay Road, SMB

Tel: (345) 949 9710

Email: info@nelsonslegal.com

Ogier

4th Floor, 89 Nexus Way, Camana Bay

Tel: (345) 949 9876

Email: cayman@ogier.com or www.ogier.com

Ogier is a professional services firm comprised of three divisions: legal, corporate and fiduciary, and consulting. Present in the Cayman Islands for over 30 years, the firm’s legal team provides practical advice on a unique combination of BVI, Cayman, Guernsey, Irish, Jersey and Luxembourg law. Ogier in Cayman provides a full range of services across a wide array of specialisms. These include investment funds, private equity funds, commercial dispute

technology and Web3, banking and finance transactions, restructuring and insolvency and all aspects of contentious and non-contentious trust and private wealth matters.

Priestleys Attorneys-at-Law

2nd Fl, Caribbean Plaza, 878 West Bay Road, SMB

Tel: (345) 946 1577

Email: info@priestleys.ky

Ritch & Conolly LLP Attorneys-at-Law

5th Fl, Queensgate House, South Church Street

Tel: (345) 949 7366

Email: info@rc.com.ky

Samson Law Associates

The White House, 20 Genesis Close, GT

Tel: (345) 949 0123

Email: info@samsonlaw.ky

Sinclairs

3rd Floor, Genesis Building, Genesis Close, GT

Tel: (345) 743 2626

Email: info@sinclairsoffshore.com www.sinclairs.com.ky

Sinclairs is a boutique law firm of Englishqualified lawyers with over 25 years’ experience in the Cayman Islands specialising in corporate and commercial transactions. Offers practical, responsive, cost-effective advice for the formation of Cayman structures (investment funds, exempt/foundation companies and partnerships). Licensed by CIMA to undertake company incorporations and the full range of corporate and director services. Notarial services are also offered.

Stuarts Humphries

Kensington House, 69 Dr Roy’s Drive, GT

Tel: (345) 949 3344

Email: info@stuartslaw.com

www.stuartslaw.com

A Cayman Islands focused law firm and leading provider of legal services to investment funds, corporate and commercial, Fintech, Special Economic Zone companies and banking clients. Stuarts’ experienced team offers world-class and in-depth market knowledge in a wide range of areas. Offering timely, exceptional legal advice and representation to clients in connection with their commercial transactions, structures, liabilities and regulatory obligations.

SEE AD PAGE 66

Travers Thorp Alberga (TTA)

2nd Fl, Harbour Place, South Church Street, GT Tel: (345) 949 0699

Email: info@traversthorpalberga.com www.traversthorpalberga.com

TTA advise on all types of offshore entities, including hedge funds, private equity, corporate and partnership vehicles, asset and structured finances, cryptocurrencies and ICOs, capital markets, general corporate and commercial matters and private client. In addition, their matrimonial department deals with family law, including divorce, financial provision, child custody and cross-border asset tracing.

SEE AD PAGE 223

Walkers (Cayman) LLP

190 Elgin Avenue, George Town Tel: (345) 949 0100

Email: info@walkersglobal.com www.walkersglobal.com

Walkers is a leading international law firm. They provide legal, corporate, compliance and fiduciary services to global corporations, financial institutions, capital markets participants and investment fund managers. Their clients are the most innovative firms and institutions across the financial markets, and rely on them for their ability to provide solutions to their most important legal and business issues.

Legal Befrienders

75 Fort Street, Adonis House, George Town

WHERE BUSINESS BLOSSOMS

Located at the core of Grand Cayman’s Seven Mile Beach corridor, Camana Bay offers a prestigious address to the local and international business community. This well-established, mixed-use and master-planned Caribbean community boasts over 1,000,000 square feet of sustainably designed Class-A commercial office and retail space for lease.

With support at every step of the leasing journey, our commercial leasing team is dedicated to providing a seamless real estate solution for your needs and helping our tenants prosper.

Contact our leasing team to see available spaces

+1.345.640.3600 | leasing@dart.ky | dart.ky

Learn more about our leasing opportunities

Tel: (345) 945 8869 or www.dcs.gov.ky/frc

Free legal advice is offered on issues, such as domestic violence, divorce and immigration, at the Legal Befrienders Clinic every Tuesday from 5pm-6.30pm. You can either call or visit the Clinic where qualified attorneys offer advice on a walk-in, first come, first served basis.

Office Supplies, Printers

& Electronics

Kirk Office

67 North Sound Road, George Town

Tel: (345) 623 5475

www.kirkoffice.ky

Kirk Office has been helping businesses work smarter for over 30 years. With over 6,000 items in stock and over 30,000 available in their catalogue, they offer a great selection of office products, computers, document solutions, office furniture and even IT support. Kirk Office offers easy online ordering through their webstore, plus fast and free delivery Island-wide. They also offer custom-printed stationery, folders, stamps and business cards, as well as printing and copying services. SEE AD PAGE 68

Office Supply Ltd.

Marquee Plaza, 36 Lawrence Boulevard, SMB

Tel: (345) 946 1200

Email: info@officesupply.ky

www.officesupply.ky

Office Supply Ltd. is an office products superstore stocking everything from arts, furniture, crafts and office supplies to tablets, high spec copiers and printers. Packed with electronics and accessories, they offer full IT support and repairs, plus a printing centre. They are the exclusive dealer for SHARP business machines and Aquos boards. As well as selling a large variety of office products, they sell HP, Dell, Asus, Acer, Lenovo and Dynabook computers and laptops. They also stock a very large selection of HP printers and are the authorised service providers for HP printers and computers and Sharp multifunction business machines. SEE AD PAGE 5

PBS Cayman Business Machines Ltd.

The Cayman Center, Suite 1 & 2, George Town Tel: (345) 949 8642

PBS Cayman Business Machines Ltd. is an authorised partner for Xerox, Lenovo, SMART, Leidos Securities, Cisco, Oracle, HP, DELL, Google, ID Printers, NCR, IT solutions, software and more.

Office Automation & Electronics

Creative Tech Ltd.

Shop 6, Bay Town Plaza, West Bay Road, GT Tel: (345) 946 8324

your passport number in their records. According to the Notaries Public Act (2023 Revision), a Notary Public should charge in the region of CI$25 per stamp, however, the drawing and engrossing of bottomry and respondentia bonds attracts a fee of CI$65. Some will also charge a call-out fee if you want them to visit you to notarise documents, particularly outside of normal office hours. Here are a couple of active Notary Publics that you could contact:

Baysyde Biz

27 Duxies Lane, West Bay

Tel: (345) 917 5756

Email: baysydebiz@gmail.com

Baysyde Biz is available 24 hours a day and seven days a week (by appointment) for document notarisation. They also provide assistance in preparation, submission, tracking and collection of documents, including banking, corporate, immigration, legal, personal and more. Call Tesia Scott for more information.

HALO Legal Solutions

Tel: (345) 939 0079

Email: halo@haloindustriesllc.com www.hlscayman.com|

HALO Legal Solutions is a full-service mobile business offering mobile Notary Public services, as well as corporate and legal office services and business and corporate administrative management services.

•

•

Email: info@creativetechltd.com

Creative Tech offers a range of AV and conferencing systems, video walls, background audio systems, interactive displays and CCTV packages tailored to the corporate, hospitality, retail and educational sectors. Brands represented include Poly, Logitech, LG, NEC

Notary Public/Justice of the Peace

Notary Public or Justice of the Peace (JP) services are available either through law firms or from independent operators. JPs do not charge, but they can only certify local documents. Have your passport or driver’s licence handy when you need their services, as they need to verify your details and write

Sinclairs

3rd Floor, Genesis Building, Genesis Close, GT

Tel: (345) 743 2626

Email: info@sinclairsoffshore.com www.sinclairs.com.ky

Based in central George Town, the Sinclair Group offers practical, responsive and costeffective Cayman business solutions, including apostilling and notarial services through its three notaries. The standard charge is CI$25 or US$30 per notarised document, including certified true copies, affidavits and other legal documents. SEE AD PAGE 65

HR & Payroll Services

Baraud

1st Floor, Elgin Ct, Elgin Avenue, George Town

AN ICONIC BUSINESS ADDRESS

Located on the bustling corner of Seafarer's Way and Fort Street, Flagship is one of George Town's most iconic structures and a refurbished, mixeduse retail and commercial building with remarkable harbour views in the heart of the capital.

With support at every step of the leasing journey, our commercial leasing team is dedicated to providing a seamless real estate solution for your needs and helping our tenants prosper.

Contact our leasing team to see available spaces

+1.345.640.3600 | leasing@dart.ky | dart.ky

Tel: (345) 945 1781

Email: payroll@baraud.com www.baraud.com

Baraud’s team of CPAs and HR specialists can handle all your payroll and HR needs and advise on best practices in terms of the Cayman Islands Labour Act. Their work is highly confidential and encrypted end-to-end to meet rigorous international cybersecurity requirements. SEE AD PAGE 83

OWC HR & Immigration Services

Tel: (345) 327 2321

Email: info@owcservicesltd.com www.owcservicesltd.ky

OWC HR & Immigration Services specialises in solving all your HR and immigration problems. They work with you every step of the way to make sure that you understand the choices you are making. Their HR services include employment contracts, handbooks, employee relations, HR audits, labour, immigration, health and pension compliance. They can also assist with Notary Public services, work permits, Caymanian status and permanent residency for your employees. SEE AD PAGE 99

Professional Training

See the Education chapter for information on training and educational opportunities.

Tax Advice

Receiving professional tax advice may be essential when running a multijurisdictional operation in the Cayman Islands, as certain countries require special reporting. Tax advisors in the Cayman Islands usually have specific legal and financial expertise and also advise private individuals on tax-related matters. They offer a range of services, including providing advice on shareholder tax planning, international tax structuring for multi-jurisdictional transactions, compliance prior to an overseas acquisition, employment matters and reducing a business’ tax burden, as well as protecting and exploiting intellectual property. See the Immigration chapter for tax advisors.

Translation Services

The WORC requires that all documents (i.e. medical and police clearance forms) being submitted from non-English speaking countries must first be translated into English and the translated copy notarised. The following companies can help you with your translations:

Baraud

Tel: (345) 945 1781

Email: translations@baraud.com www.baraud.com

The languages currently offered for translations are Spanish, French, Italian, German, Portuguese and Dutch.

BrazilCayman/Claudia Subiotto

Tel: (345) 927 1000

Email: brazilcayman@gmail.com

www.brazilcayman.com

Offering reasonable rates for professional documentation and business-level translations from Portuguese to English and English to Portuguese for immigration, legal, government, education, property and personal transactions. Based in the Cayman Islands and in Brazil. Please call or email for more information. BrazilCayman's work is accepted by all Cayman Islands Government agencies.

Office Cleaning

Hew’s Cleaning Services

Tel: (345) 949 0734

www.hews-janitorial.com

Hew’s is a family-owned and operated company that has been in the Cayman Islands since 1977. All their work is safe, professional, trustworthy, efficient, friendly and caring. They specialise in maid services, offices, floors, carpets, upholstery, marble, windows, janitorial, mould and microbial remediation, water and fire restoration, as well as post-construction cleanup. Staff are trained in Applied Microbial Remediation. SEE AD PAGE 183

offer a customised cleaning and maintenance plan, including a checklist of detailed tasks to be completed by one of their trustworthy and reliable cleaning specialists. Their client care representatives are always available to address requests or concerns. SEE AD PAGE 183

Office Upholstery & A/C Duct Cleaning

Fabrizone Cleaning

Tel: (345) 949 5010

Email: info@fabrizone.ky

With over 25 years of professional cleaning excellence, Fabrizone Cleaning provides professional cleaning and exceptional customer service. They are experts in carpet, upholstery, flooring and drapery cleaning for residential, property management and corporate customers. Fabrizone specialises in air quality services, including A/C duct purification and mould remediation, as well as professional restoration services after water, fire or mould damage. SEE AD PAGE 182

SETTING UP AN OFFICE

COMMERCIAL OFFICE SPACE

Grand Cayman's commercial space rental market is one of the strongest in the region, with high demand for all classes of space traditionally ranging from 750sq ft offices for smaller occupiers up to 30,000sq ft for some of the 'Big Four' accountants. The primary source of demand comes from the offshore financial sector, including law firms, accounting practices and insurance/ reinsurance firms. From a retail market perspective, Grand Cayman caters to an array of retail, which targets stay-over and cruise tourism, as well as the local market. This includes food and beverage premises and traditional brick-and-mortar retail stores.

My KandA Cleaners

Tel: (345) 326 3379

www.kandaservices.ky

My KandA Cleaners offers cleaning services for all types of office and retail space. They

The market comprises of close to four million square feet of space in all classes, which breaks down to roughly 1.25 million square feet of Class-A office space, 1.75 million square feet of Class-B space and close to 300,000sq ft of retail. High exposure ground floor retail space in George Town, which is near the cruise ship terminal, is in short supply and commands higher rent. Most properties in George Town would

With six buildings set on nine beautifully landscaped acres in a prime location, Regatta Office Park provides convenience, flexibility and remarkable value for Seven Mile Beach for new and established businesses alike.

With support at every step of the leasing journey, our commercial leasing team is dedicated to providing a seamless real estate solution for your needs and helping our tenants prosper.

be classed as B+ or B- properties, except for Cricket Square and a few properties on the waterfront like Strathvale House, Whitehall House and Harbour Place. These Class-A properties located in George Town command rents of US$45-US$65 per sq ft inclusive of a Common Area Maintenance fee (CAM), which breaks back to US$50 per sq ft in rent with US$15 of CAM.

Average vacancy rates vary by class and location, from as low as 2%-3% for Class-A+ to A space, 5%-10% for Class-Ato B+ space and around 10% for Class-B and C space. Within these averages, there is a wide variety of vacancy rates. For example, some Class-B properties in central George Town have vacancies of between 10%15%. This has been somewhat due to the expansion and relocation of larger corporate tenants from the typically older buildings in George Town centre to the masterplanned community of Camana Bay or edge of Town development corridor of Elgin Avenue, such as Cricket Square. There is, however, an increased interest in Class-B+

and B renovated ‘turnkey’ spaces in central George Town due to difficulties and costs associated with fit-out construction in some of the newer buildings, as well as value engineering annual overheads. This includes smaller turnkey office suites with access to shared amenities, such as conference rooms, serviced kitchens and reception desks, at an all-inclusive price. This type of office space is attractive to small corporations and sole proprietorships who want to be in George Town with close proximity to all the additional amenities that George Town offers, such as Class-A banks, the courthouse, Government offices, and a mix of local restaurants and coffee shops. Several Class-B buildings in George Town have sold recently and are under full renovation, which brings the increased revitalisation needed for George Town to attract tenants and new businesses. These renovations will, in turn, decrease the vacancy rates for the Class-B office space as buildings are renovated to a higher standard.

Class-A to A+ space is predominantly

now found in development-type locations such as Camana Bay and Cricket Square on Elgin Avenue and in parts of the harbour front where redevelopment has occurred and buildings have been traditionally managed to a higher standard. Other buildings have been renovated to a high standard where viable.

Office space rental rates vary depending on where they are and whether you are receiving a space in a shell and core condition or fully furnished (first vs second generation premises), and the general condition of the latter. For Class-A to A+ office space, which is ready to move into in developments like Camana Bay and Cricket Square, the range is US$60 to US$80 per square foot, per annum (psf pa) with an additional US$20 in CAM. For Class-A and A+ space that is in a shell and core condition which requires a fit-out, the cost ranges from US$50-US$60 plus US$20 for CAM. Rents in the Class-B+ to A- sector are usually US$35-US$50 psf pa, falling to US$20-US$30 psf pa in the Class-B- market.

Flexible offices, ready to go.

Offering a range of flexible workspace solutions designed to maximise productivity and empower your business, readyspaces provides fully serviced offices featuring an interactive members portal, maintenance and management services. Flexible occupancy options and 24/7 secure, electronic access puts you in control of when and how you work.

Hourly conference room rentals.

Need to host a meeting in a professional setting? You don’t need to be a tenant to enjoy competitive hourly rental rates for the readyspaces conference rooms, accommodating up to 12 people.

Book a meeting room or your flexible office space by calling +1.345.743.4610

CAM charges range from US$15US$20 psf pa in developments such as Cricket Square and Camana Bay, where infrastructure costs are higher; and between US$12-US$14 psf pa in standalone office buildings in other locations. Retail rates vary from US$50-US$60 psf pa on the Seven Mile Beach corridor. Cardinall Avenue and Fort Street command rates closer to US$45US$65 including CAM.

The commercial office market in the Cayman Islands continues to grow. Camana Bay opened 60 Nexus Way, the island’s first ten-storey commercial office building (200,000sq ft), which is already 80+% committed. Phase VII of Cricket Square, Pavilion East, is currently being built and is due for completion at the start of 2025. This offers 150,000sq feet of LEED Gold Class-A office space across seven floors. They have plans to then build a ten-storey office building called Pavilion West. Cricket Square now includes Maiden Place (formerly the MUFG building) in their development, which offers another 25,000sq ft of Class-A

office space.

We are very fortunate that Cayman continues to be the jurisdiction of choice. We are seeing companies expand, refresh their existing space and relocate to, or within, the Cayman Islands. More and more companies are also rethinking the way their office premises serve the needs of their staff and clients, and they are seeking to create a reinvigorated work environment that is flexible and has a collaborative office space. In addition to the growth of existing firms, there are new industry verticals within medical, tech and reinsurance that have shifted their attention to the jurisdiction. Amenity-rich, Class-A developments will continue to expand alongside George Town, with the Government’s long-awaited plans for revitalisation, which may include new developments and a boutique hotel.

Office Space Availability

If you need to lease office space, you should speak with a developer or realtor who specialises in corporate leasing.

Camana Bay

Tel: (345) 640 3600

Email: leasing@dart.ky or www.dart.ky

Camana Bay is the Caribbean's first and only master-planned town, which was built with connectivity and accessibility in mind. It features over 900,000sq ft of Class-A commercial office and retail space, as well as 152 luxury apartments for long-term lease, and it is surrounded by thoughtfully landscaped public spaces with water views, restaurants, shops, a cinema, shaded courtyards and fountains. SEE AD PAGE 67 & 153

Cannon Place

Tel: (345) 945 3517

Email: info@rpmcayman.com www.cannonplace.ky

Cannon Place has 58 retail/office rental spaces ranging in size. The property is managed by Rovida Property Management Services. Call or email for availability.

Cricket Square

Tel: (345) 947 7080

Email: operations@orchiddevelopment.com

www.cricketsquare.com

Upon completion of Phase 7, Cricket Square will house over 420,000sq ft of Class-A office space across the multi-building business park, with flexible leasing options ranging from 1,000 to 100,000sq ft. Hurricane resistant, stylish architecture is complemented by verdant landscaping, ample parking and a wide range of first-class amenities.

Dart

Tel: (345) 640 3600

Email: leasing@dart.ky or www.dart.ky

Dart has a wide portfolio of mixed-use, residential, commercial, recreational, educational and hospitality properties. They also have Camana Bay, a mixed-use Class-A development and vibrant, walkable town centre which boasts more than 1,000,000 square feet of residential, retail, office and recreational space. 60 Nexus Way, Camana Bay's first 10-storey office building, opened in 2023 with anchor tenants, including law firm Appleby and accounting firm Deloitte. Kapok, which also opened in 2023, is the Town's newest residential for-lease building, offering 89 apartments spanning 10-storeys, with ground-floor retail. Dart's Class-B portfolio includes Regatta Office Park, which is also home to readyspaces, a flexible, turnkey, serviced office solution. Other Class-B offerings include Flagship Building and Island Plaza in the heart of George Town.

SEE AD PAGE 17, 67, 69 & 71

Elizabethan Square

80 Shedden Road, George Town

Tel: (345) 949 5521

Email: info@rpmcayman.com

Elizabethan Square has a total of 60 units ranging from 100sq ft to 4,800sq ft. The property is managed by Rovida Property Management Services.

Flagship

Tel: (345) 640 3600

Email: leasing@dart.ky or www.dart.ky

Flagship is a refurbished, mixed-use retail and commercial building located in the heart of the capital with fantastic harbour views. Located

on the bustling corner of Seafarer's Way and Fort Street, Flagship is an excellent choice for small and mid-sized businesses with its close proximity to the courthouse, major banks and post office, and walking distance to shopping, dining and amenities. SEE AD PAGE 69

Heritage Holdings Ltd.

Tel: (345) 936 3227

Email: sales@heritageholdings.ky www.heritageholdings.ky

Heritage Holdings Ltd. is a premier property development and management company offering office and retail spaces at Centennial Towers, Countryside Shopping Village, and the mixed-use complex, 61 West Apartments. Stay informed about their upcoming projects, including new medical spaces near industrial park. Call for purchase or rental opportunities.

readyspaces

Tel: (345) 743 4610

Email: info@readyspaces.ky www.readyspaces.ky

Offering turnkey, one to two-person fully serviced office suites and conference rooms along the Seven Mile Beach corridor with flexible, month-to-month, daily or halfdaily occupancy terms. Located in Regatta Office Park, with great proximity to shops, hotels and restaurants, readyspaces is the perfect solution for startups, small or growing businesses in the Cayman Islands and also offers convenient meeting room and conference room rentals by the hour.

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Regatta Office Park

Tel: (345) 6403600

Email: leasing@dart.ky or www.dart.ky

Nestled between two major thoroughfares, Regatta's prime location near Seven Mile Beach and Camana Bay makes it a top choice for new and established businesses. With six buildings set on nine beautifully landscaped acres, Regatta offers convenience, flexibility and remarkable value for Seven Mile Beach. There is ample parking, covered cabanas, on-site property management and security, access elevators, key fob entry and fibre-optic connectivity. SEE AD PAGE 71

Regus (Cayman)

Tel: (345) 743 4500

www.RegusCayman.ky

Regus provides serviced turnkey office space with flexible terms, designated parking, reception staff and 24/7 IT support in central George Town.

Realtors - Commercial Rentals

International Realty Group (IRG)

Tel: (345) 623 1111

Email: info@irg.ky

www.irgcayman.com

RE/MAX Cayman Islands/ Michael Binckes

Tel: (345) 938 3269

Email: michael.binckes@remax.ky

Rhulens

Cayman Tel: (345) 938 1000

New York Tel: 1 (917) 836 9108

Email: sloane@rhulens.com

FITTING OUT YOUR OFFICE

Commercial A/C Contractors

EcoSmart Cooling Ltd.

Sparkys Drive, George Town

Tel: (345) 233 2665 (24-hour service)

www.airconditioningcayman.com

Professional and reliable air conditioning and commercial refrigeration contractors.

SEE AD PAGE 175

Costs to 'Fit Out' an Office Space

Costs to construct new office premises depend on numerous factors, including the existing condition of the space and desired final product. Well-fitted existing office space with partitioned walls and internal offices, suspended ceiling, lighting, air conditioning and power already in place may be reconfigured for as little as US$50 per square foot. Finding such space has become more challenging as existing tenants continue to expand into built spaces, coupled with demand from new firms entering the market. Premises in newly constructed buildings are generally delivered in core and shell condition with fire-rated separation walls, plumbing rough-in and air conditioning unit(s). A

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The Process of Setting Up an Office

The time required to set up an office in Cayman largely depends on the condition of the space. The simplest offices can be set up in four to eight weeks, however, this is uncommon. By the time a design has been finalised, interior finishes have been chosen, furniture ordered, IT systems specified and work permits and licences granted, you should expect about four to six months to have passed. Tenants may be required to submit fit out plans to the Planning Department for building code approval.

Office Space Planning & Design

Grand Cayman has a number of architectural firms with qualified interior designers on staff who specialise in commercial premises. They can take a new or existing office and create a space to suit your business. To find an interior designer in Cayman, see pages 193-195.

Custom Interiors by Tomlinson

19 Walkers Road, George Town

Tel: (345) 949 5383

Email: denise@tfg.ky

At Custom Interiors, the newest division of Tomlinson Furniture, they offer affordable design services, as well as quality furniture selections that are sized correctly for your office/home space. They also offer custom window treatments and can help with existing residential homes and developments, corporate business offices, hotels, condos and timeshare properties. SEE AD PAGE 267

LIVING.KY

48 MacLendon Drive, George Town Tel: (345) 233 8700

Email: info@living.ky or www.living.ky

LIVING.KY offers a complimentary interior

design service as part of their custom furniture packages. Their team of on-site design experts will develop digital floor plans and product visualisations to help you create your ideal office space.

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Telephone, Internet & Data

There are four main telecom service providers on-Island: FLOW/C&W Business, C3 Pure Fibre, Digicel and Logic, who all offer a range of services and delivery mechanisms. FLOW and Digicel offer a mobile phone service, both offering LTE data with speeds comparable to the US and Europe. Signal quality and data speeds are generally very good across the three Islands, as the topography of the Cayman Islands affords few black spots.

Fixed line calling rates are competitive on the international market and the service quality is generally good. Mobile phone service providers in Cayman supply iPhone, Samsung Galaxy and other smartphones. Always check the cross-carrier rates to help in choosing what’s best for your business. International mobile phone roaming can be very expensive, but some business plans offer discounted roaming plans for customers that travel often. Modern collaboration platforms are also widely used on-Island. Some of these platforms support video and voice calling and can even route calls directly to mobile devices. Check out Monday.com, Toggl Plan, Flock, Filestage, Karbon, Microsoft Teams and Google Docs.

As a startup business, you will be able to procure the usual services, such as broadband, up to 1Gbps, as well as fixed line telephony and more specialist data services, such as MPLS (depending on your location). You may want to consider managed IT infrastructure and services being offered by local IT companies and telecom operators, such as Cloud backup, business continuity and virtual data centres. Grand Cayman is serviced by two underwater fibre links: MAYA1, which connects most of the western Caribbean nations before returning to the US, and the

Cayman Jamaica Fibre System (CJFS) that takes an alternative route via the eastern Caribbean back to the US. These links have enough capacity to support any type of business and their data needs, with private bandwidth available to guarantee quality of service consistently and when required. See the Settling In chapter for more information and see below for provider details.

C3 Pure Fibre

Tel: (345) 333 3325

Email: info@c3.ky

https://business.c3.ky or www.c3.ky

Digicel

Tel: (345) 623 2499

Email: caymanbusiness@digicelgroup.com www.digicelbusiness.com

FLOW/C&W Business

Tel: (345) 949 7800

www.cwcbusiness.com

C&W Business is a full-service communications provider that delivers market-leading video, broadband, telephone and mobile services to customers in more than 20 countries. Through its business division, C&W Business provides data centre hosting, domestic and international managed network services and customised IT service solutions to serve your business needs.

SEE AD OPPOSITE PAGE & 127

Brava by Logic

Tel: (345) 745 5555

Email: corporatecare@brava.solutions

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Working

i n Cayman

How to find a job in the Cayman Islands, the different jobs available, insight into the Islands’ Labour Law, and details of Cayman’s recruitment companies.

least a few years of experience, outnumbers the availability of candidates locally.

The Cayman Islands has numerous employment opportunities in the financial services industry, making it a desirable jurisdiction to be employed and attractive to professionals from around the world. Financial service businesses, including reinsurance firms and family offices of high-net-worth individuals, have been continuously moving to Cayman in recent years. The need to show an economic presence in Cayman has incited some of this growth, as has the huge need for compliance workers who are quickly snapped up by legal and corporate services firms.

Jobs in other sectors (medical, education, construction and retail) exist mainly to meet the demands of the local market. Jobs in the tourism sector are also growing, especially with the introduction of a few new hotels which have just been completed (Hotel Indigo and Vida). Many jobs are available in these fields and we discuss them in detail later in this chapter. The Island has a well-educated local workforce, but the need for qualified accounting, finance, actuarial, compliance and financial services professionals, especially those who are designated and have at

The Fall 2023 Labour Force Survey (LFS), which was published in April 2024, estimates that the total labour force has increased to reach 60,513 people, a rise of 5% compared to the 2022 figures, while the percentage of those unemployed is at 3.3%. The LFS report also estimates that the population of the Islands as of Fall 2023 was 84,738, and of those, 39,068 were Caymanians, 5,885 were Permanent Residents and 39,785 were non-Caymanians. Foreign workers make up a larger percentage of our current workforce and represent 137 different countries. Of the labour force, 22,706 were Caymanian, 5,341 were Permanent Residents and 32,466 were non-Caymanians.

EMPLOYMENT PROSPECTS

Work Permits

Strict work permit regulations exist to ensure that Caymanians, the spouses of Caymanians, Permanent Residents and existing Residents are given preference, in that order, for any position. The rules present some unique hurdles to the expatriate jobseeker, so a basic understanding of this process is required to put the employment market in context and avoid finding yourself in a position that is improvident at best and disastrous at worst.

Unless contracted to Government, expatriates must either hold a valid work permit, a Special Economic Zone Certificate, a Certificate of Direct Investment, a Residency and Employment

Photos courtesy of Nova Cayman, Superior Auto, Julie Corsetti & Rebecca Davidson

Rights Certificate or hold Permanent Residency with the right to work in a prescribed occupation (or occupations) in order to work and reside in the Cayman Islands. The administration of work permits is the responsibility of the Cayman Islands Government Department of Workforce Opportunities and Residency Cayman (WORC) and they are the legal obligation of your employer. There is also an understandable emphasis on the training of local staff to ensure that they have an opportunity to develop their skills. The onus is on the employer to demonstrate to WORC that they have tried to fill the position with a Caymanian by advertising the job on the JobsCayman website. Only after all efforts to recruit locally have failed can the employer rightfully justify a work permit application. This process must be repeated periodically (usually once every two years) depending on the employer’s circumstances. Some employees can, however, be granted work permits of up to five years duration or, in relation to senior positions in the financial services industry, up to 25 years.

Full Work Permits can take as long as three months to be processed. Temporary Work Permits (for anything from 30 days up to six months) can be granted within a matter of days (if an express fee is paid). A Seasonal Worker’s Permit allows the employee to work for eight months. Exemptions from the work permit restrictions can apply in particular circumstances for short-term visits and other types of permission, such as a Business Visitor’s Permit or even a Visitor’s Work Visa, which may be appropriate alternatives.

Note: A work permit is granted for a specific position with a specific employer and must be made by the employer; an individual cannot apply for one without the employer. This means that a work permit holder is not entitled to work in any other capacity or for any other employer, and any significant changes to the person’s role within an organisation

must be approved by WORC prior to the individual taking up a revised role or a revised role with an additional employer. If you want to take up employment with a different company while you have an existing work permit, your current employer must cancel your permit using the A11 form (Request to Withdraw/ Cancel/Refund an Application) which is available on the WORC website. This then releases you from your current work permit. Ideally, this should be submitted on the same day as your new work permit is submitted which means that you will not need to leave the Island while your new work permit is processing. However, do not leave the Island on vacation while your new work permit is processing or your current ability to stay on the Island will cease until your new work permit is approved. You should, therefore, be doubly sure that any position is right for you before committing to a long-term contract. Once employed, you should take some time to consider your situation before your employer applies for your full work permit, as you are effectively bound to them from the time of application until the expiry of the permit unless the permit is cancelled at the employer’s request.

It is unlikely an employer will be granted a work permit unless the proposed expatriate employee is professionally qualified or very well experienced in a relevant field, or there is no interest in the position from the local workforce (which is actually fairly common). This creates something of a ‘Catch 22’ for those expatriates without a professional qualification. The better the position, the higher the level of interest from the local workforce and the less likely it is that an expatriate will be granted a work permit.

There are certain occupations that presently seem to hold little appeal for existing residents. These are often positions that offer little job security, irregular or anti-social hours of work, or a somewhat unpredictable or unreliable income stream. Examples of such lines of

work are diving, nursing, construction, food and beverage service, security services and most commission-based sales positions.

Labour Force & Work Permit Numbers

As of July 2024, there were 37,334 work permits in effect, up from 36,263 in 2023 and 32,184 in 2022. These work permit holders hail from 137 different countries, including Jamaica (15,427), the Philippines (6,463), India (2,081), the UK (2,024), Nepal (1,246), Canada (1,197), Honduras (1,172), the US (919), Nicaragua (715), South Africa (675), Ireland (372) and Kenya (334).

Labour Force by Work Permit Occupations

Of the 37,334 work permits as of July 2024, there were over 1,200 different jobs listed, however, the largest numbers were in the following categories: Domestic Helpers (4,210), Janitors (2,324), Food and Beverage Service Staff (1,780), Masons (1,656), Carpenters (1,115), Kitchen Helpers (1,096), Gardeners (1,058), Security Officers (761), Retail Cashiers (740), Line Cooks (612), Building Construction Labourers (487), Cooks (413), Registered Nurses (399), Primary School and Pre-School Teachers (659) and Lawyers (243) to name a few.

Rules on Residing On-Island Whilst a Work Permit is Processing

WORC authorities generally dictate that individuals should not be present in the Cayman Islands while a work permit application is in process. However, this does not apply if you are already legally resident, including, for example, working legally on a Temporary Work Permit and the full version is submitted to WORC before your Temporary Work Permit expires, or having been released from your work permit and being regularised as a visitor (without leaving the Island). Generally speaking, without special circumstances or the consent of the Director of WORC, no one is permitted to remain in the Cayman Islands as

a tourist/visitor while a work permit application is being considered and you should not be on the Island once this is submitted. Once your permit is approved, you can return to the Cayman Islands and start working.

It should be noted that if you come to the Cayman Islands on a Temporary Work Permit, and your subsequent Full Work Permit application is denied, you will have to cease work immediately and may have to leave Cayman on short notice, unless permitted to remain by virtue of some other provision or unless the denial is being appealed.

Rules on Dependants

It is important to be aware that your spouse or children are not automatically entitled to reside in Cayman even if you hold a valid permit. They must be named dependants on the permit and a separate application must be filed if they were not added at the time of submission of your Temporary Work Permit. All

accompanying dependants must also submit an original medical cover letter if over 18 years of age and, for a spouse, a certified copy of your marriage licence, civil partnership, any final divorce decree if applicable, and a police clearance certificate. If the dependant is a child, a certified birth certificate naming you as a parent is required. You should also note that if your child is of compulsory school age, as the parent you have a duty to secure attendance at school in accordance with the Education Act (2016). Where appropriate, arrangements for homeschooling can be made. WORC will consider, along with other factors, your ability to financially support your dependants. Dependants can also be added to a Temporary Work Permit or a Work Permit Grant.

Work Permit Term Limits: ‘The Roll Over’ Policy

In 2004, the Cayman Islands introduced an immigration ‘term limits’ policy, a necessary consequence of the nearexponential growth of the population

over the previous four decades. Under current provisions, most expatriate workers can only remain in the Cayman Islands for a maximum of nine years unless they have applied for Permanent Residency (PR) after passing eight years of legal and ordinary residence. All such applications must generally be made by the ninth anniversary of the expatriates’ arrival to live in the Cayman Islands.

The points system for awarding PR provides workers with greater transparency and certainty. This system permits everyone who qualifies to apply for Permanent Residency following a clear and objective set of criteria.

Labour Law - Know Your Rights

We strongly advise you to become familiar with your employee handbook, the Labour Act (2021 Revision) and the Gender Equality Act (2011 Revision). Below are some of the highlights of the laws governing employment in the Cayman Islands:

> Sexual Harassment: The Gender Equality Act (2011 Revision) states that sexual harassment is illegal in the Cayman Islands.

> Maternity Leave: The Labour Act (2021 Revision) stipulates that 12 calendar weeks must be granted for maternity leave. The amount of paid maternity leave is four weeks (20 days) of full pay; four weeks of half pay and four weeks of no pay, for all female employees who have completed 12 months of employment. Otherwise, it will be on a prorated basis. In March 2024, the Cayman Islands Government increased maternity and paternity leave for civil servants. Maternity leave increased from 90 to 110 working days and the paid portion of maternity leave has increased from 30 to 60 working days on normal pay. Paternity leave has increased to 20 working days, with 10 days on normal pay and the remainder without pay.

> Holiday Pay: According to the Labour Act (2021), each employee is entitled to a minimum of two weeks’ vacation (10 working days) for the first four years of employment, three weeks (15 working days) for years four to 10, and four weeks

(20 days) if employed for over 10 years for the same company. This does not include the 11 public holidays (approximately) that Cayman has each year. Staff required to work on a public holiday must be paid double their normal rate of pay for the hours actually worked.

> Severance Pay: Under the Labour Act (2021), all employees who have continually worked for their employer for more than a year are entitled to receive severance pay if their employment is terminated for any reason other than for misconduct and poor performance at a rate of one weeks’ salary for every completed year of service. For part-time employees, severance pay is calculated based on the ratio of their hours of employment to the standard work week.

> Sick Leave Pay: If an employee takes any sick days in a full calendar year of employment, they are entitled to be paid their basic wage for a total of 10 days.

> Unfair Dismissal: If an employee feels that they have been unfairly dismissed, they have 90 days from the date the employment was terminated to file a claim for unfair dismissal with the Department of Labour and Pensions. If the employee is successful with their claim, they may be entitled to further compensation if the Labour Tribunal deems fit.

> Minimum Wage: The current national minimum wage is CI$6 and it is generally agreed that this does not provide a living wage. Domestic helpers who receive benefits (such as a car and accommodation) in their salary package cannot be paid less than CI$4.50 per hour. The minimum wage for service staff is CI$7 per hour.

> Pension Payments: If you are Caymanian, your new employer must start paying your pension immediately. If you are an expat, your employer can allow you a 9-month grace period before they have to start paying your pension. However, if you leave the Island for more than three months, then your 9-month grace period starts over.

Overtime & Weekend Hours

As is the case in most leading jurisdictions around the world, many companies expect their employees to work beyond the normal eight-hour workday. Conversely, standard Human Resource (HR) practices may vary from country to country. Before taking a job, familiarise yourself with the work culture. Ask your prospective employer’s HR professional whether overtime pay or time in lieu is provided.

Knowledge of the Labour Act will assist you in determining what is legal in the Cayman Islands from an employment law standpoint. Check the Department of Labour and Pensions’ website (www.dlp. gov.ky) for more information. The Cayman Islands Society for HR Professionals (www. cishrp.ky) is also a great resource.

Finding a Job

Despite a growing population, there are still many employment opportunities available in the Cayman Islands. In July 2024, one of the Island’s leading financial services recruitment agencies told Cayman Resident that there are “big things on the horizon for Cayman”, especially in the reinsurance industry, where a lot of growth is expected in the next five years. For professionals looking for jobs in this blossoming industry in Cayman, it is advisable to reach out to employment agencies as they are finding that new firms in this space are coming to agencies to assist with recruitment as they don’t have local connections to build their initial staff. The fields of accounting, compliance, law and financial services are also looking for staff and well-qualified candidates are snapped up. The medical industry is strikingly different to what it was five years ago, with lots of need for specialist doctors and qualified nurses, which has increased the potential for overseas candidates in this industry. There are still no recruitment agencies on Grand Cayman that specialise in this space, so direct applications to the different hospitals/clinics are your best bet for finding new positions.

This is a time of amazing opportunity for well qualified Caymanians, especially those in the financial services field, as they are highly

sought after and in much demand. However, it is commonly acknowledged that the appetite for qualified financial professionals outnumbers supply, and population growth is just not filling high-level finance jobs. Although there are 37,334 work permits in issue as of July 2024, these jobs fill a genuine need across a span of positions, from gardener to managing director. A very effective way to look for work in Cayman, whether local or expatriate, is to register with local recruitment agencies, as they are often tasked with finding suitable candidates and have access to roles that you may otherwise miss out on. Another option to investigate is whether an existing business could set up a branch within Cayman Enterprise City, as they would then work in Cayman from the Special Economic Zone (SEZ). For more information on the SEZ, see the Running a Business chapter.

Expatriate workers should be very wary of being offered a job in the gardening, domestic helper or handyman fields in Cayman. They must ensure that there is a genuine job for them in Cayman. We have received stories of overseas workers getting a work permit, which they have been illegally asked to pay for themselves. Then, having taken out a loan to get themselves here, they have arrived in Cayman to find that there is no job and they have no way to support themselves.

Financial Services Professionals

Jobs in the financial services market in the Cayman Islands are more diversified now than in the last 15 years. It used to be predominantly legal and audit work, followed recently by a lot of compliance work; however, since the introduction of the International Tax Co-operation (Economic Substance) Act (2021 Revision) in January 2019 and the Virtual Asset (Service Providers) Act (2022 Revision) in October 2020, the landscape has changed. Cayman (like many other international financial centres) has established legislation requiring certain entities, which are incorporated or registered in Cayman, to demonstrate that they have sufficient

‘economic substance’ in Cayman to show that they should not be taxed elsewhere. Therefore, many operational offices are opening in Cayman, including significant family offices, virtual assets service offices, private equity firms, foundation companies and reinsurance companies. These offices then need middle and front-end qualified professionals that can run the office and make decisions.

On top of this, Cayman is one of the world’s top 10 financial centres and the field of regulatory compliance is vital to the success of the jurisdiction. As the regulatory requirements for businesses increase, so do the resources needed to ensure that teams of experts are in place to monitor and uphold the standards required. From annual FATCA and CRS reporting to ongoing KYC work and AML investigations, the job market for compliance in the Cayman Islands holds a vast array of diversity and breadth at all levels. With some of the largest financial services organisations residing in the Cayman Islands, coupled with some of the strictest regulations within the industry, there is a constant demand for qualified, detail-focused staff with compliance experience. For more senior positions, relevant offshore experience and the ACAMS qualification are both highly regarded in the jurisdiction.

Many positions also exist for professionally qualified accountants, particularly those with investment, funds or re/insurance industry experience (but this is by no means essential). The Cayman Islands recognises most Commonwealth and international accounting designations. Many accounting positions are filled via recruitment agencies, and job seekers would be wise to consider registering with a Cayman Islands-based recruitment agency that has an in-depth understanding of the local marketplace. They will be able to advise you on the prospects and appropriate salary for someone with your experience and qualifications. Many of the largest financial services employers on the Island find their professional staff through recruitment agencies. However, if you are interested in

working for one particular employer, it may be beneficial to approach them directly first, expressing your interest, before registering with an agency.

Lawyers should note that if they are seeking to practise Cayman Islands’ Law, there are strict Bar admission requirements. To be eligible for admission, non-local lawyers must have at least three years post-qualification experience gained in a relevant jurisdiction (UK, Ireland, NZ, Australia, Canada and certain Caribbean nations), as well as previous financial services experience, preferably in mutual/ hedge funds, insurance, insolvency, finance or commercial litigation.

Other Skills & Professions

For those with qualifications, skills or ambitions not related to financial or legal services, finding good employment may require more research and legwork. Most reputable recruitment agencies will be able to point you in the right direction, and some may have vacancies within your field, so it will be a matter of researching the agencies that may be able to help you. If you are Caymanian, a Permanent Resident or currently on a work permit, you can register on the JobsCayman portal and see all the jobs that have been posted on there. Employers from top firms have access to this database and regularly post job listings on this online system. The department of WORC, in conjunction with the former NWDA, has a career assessment centre and provides free career counselling and training to Caymanians. You can also use LinkedIn, the Cayman Compass classifieds or Yello to make a list of potential employers and write to them enclosing your resumé.

For your cover letter, remember to include when you will be available to work, your skills, your qualifications and your marital status. Some Cayman employers will also be interested to know if you currently reside in Cayman, and if not, you should be prepared to have a convincing case for moving and being committed to your potential employer. Most employers will not reply unless they have a suitable

vacancy. It is good practice to follow up with a call to their Human Resources Manager to confirm receipt and enquire as to any current vacancies available.

The field of office temping has changed significantly in recent years. Employment agencies can no longer relocate you to Cayman, hold your permit and lend you out for a few weeks at one company and a few weeks at another. Now the employment agency must have a contract from a local Cayman firm showing where you are going to work, for how long and what work you are doing. The reality is that there are many Caymanians now filling those temping jobs, and expats are only needed if the job is genuinely temporary by nature and no Caymanian can be found. If you do want to sign up with an agency, you should do as much research on them as possible. A good agency will be able to provide references from current and past staff members, together with contact details, which will allow you to confirm their authenticity yourself. For other specific industries, the situation is as follows:

> CI Government (CIG): They are the largest employer in the Cayman Islands with over 4,500 employees across 1,000 different roles and over 90 different agencies. For job vacancies at Statutory Authorities and Government Companies, you need to go through the Government’s careers portal (www.careers.gov.ky) as this is where all Civil Service jobs are posted and where you need to create a profile before you can apply for a specific position. Most people love working for the CIG. There is good job security, the hours are reasonable and the pay and benefits are good. If you are identified as a hard worker, you can also often get transferred to a different department if you would like a change.

> Construction: Although the construction industry in Cayman has slowed somewhat as major multi-million dollar projects, such as the Watermark and the Indigo Hotel have wrapped up, a few large developers, such as Dart, NCB and Fraser Wellon still require large numbers of construction workers. Local recruiters do not handle

construction recruitment, however, potential employees could reach out directly to local construction companies or contact Ping, an international construction recruitment company (www.pingrecruit. com). Having spoken to a few high-end construction companies, they recommend sending your resumé, plus a covering letter showing that you have done some research on the company you are applying to. It is also a good idea to demonstrate a willingness to arrange a Zoom call for an initial meeting, ensuring that you follow up if you don’t get a response within the first week. If you have the financial means, it may be worth visiting Cayman and arranging to meet with a few construction companies in person. Local companies are often looking for experienced project managers who are highly skilled in luxury home building. Note: For those seeking a job in the construction industry in Cayman, you need to be licensed. Please see www. planning.ky and look under the ‘Resources’ tab for professional licences required for those in the building industry. A number of high-end construction companies in the Cayman Islands are listed in our Building in Cayman chapter.

> Electricians and Plumbers: Legally, all electrical and plumbing workers require a local licence to work in the Cayman Islands. Plumbers are licensed by the Plumber’s Examination Board and should contact the Planning Department about the specifics of the process. Information can be found on www.planning.ky, under the ‘Resources’ tab. Electricians must satisfy the CI Electrical Board of Examiners that their qualifications meet the requirements of the Electricity Regulations. Call the Planning Department (Tel: (345) 244 6501) for more information. In all cases, a certified copy of your licence, trade certificate and trade references must be submitted along with your application for a local licence.

> Grocery: Foster’s supermarket has several locations and you can reach the HR department via their website (www. fosters.ky/careers) by filling in the online application. The jobs that they have

available are listed on their website. For Kirk Market, you can visit the careers page of their website (www.kirkmarket.ky) and see what positions they have vacancies in. For those seeking employment at Hurley’s, you can apply through the careers page on their website (www.hurleys.ky/careers).

> Health Field: Medical professionals fully registered in Australia, Canada, Jamaica, the UK, New Zealand, South Africa and the US may be eligible to practise in the Cayman Islands once they have become registered with the appropriate council. This applies to both doctors and nurses. Nurses must hold a Bachelor of Science in Nursing, or its equivalent, and they must have a minimum of three years of experience as a Registered Nurse before they can practise in Cayman. Consultants and doctors with specialist training are preferred at all registered healthcare facilities. Please visit the Department of Health Regulatory Services website for complete information about the registration process and requirements at

www.gov.ky/dhrs. For more information on recruitment at the Cayman Islands Health Services Authority (HSA), visit the careers section on www.hsa.ky, where they list job vacancies. They also offer a medical internship programme and more information on this can be found on their website. Doctors Hospital is a locally owned provider of international standard, private sector healthcare services. They post their job openings on the careers page of their website (www.doctorshospital. ky) and you need to apply through their website. You can also email their HR department if you have any questions (email: HR@doctorshospitalcayman.com).

Health City Cayman Islands is a private, institutional tertiary care hospital with two locations, one in East End and another in Camana Bay which opened in late 2024. Visit the careers page of their website (www.healthcitycaymanislands.com) for a list of positions that are currently open. You will need to apply online and upload your resumé. They also accept email applications from qualified healthcare professionals from around the world. Email your resumé to careers@healthcity.ky.

> Hospitality Industry: There has been a good amount of growth in the tourism sector in th past few years with the introduction of new hotels and restaurants and the increase of visitors post-COVID. Tourist workers are usually hired in September and October to fill positions in time for high season, which starts in December. Locals are encouraged to register on the JobsCayman/WORC website where they can view what jobs are available. Alternatively, email the hotels and restaurants directly. Seasonal permits for six or eight months are obtainable.

> IT: There still remains a demand for expats in IT positions as the tech industry continues its steady growth on the Island. With Cayman Tech City (part of CEC), TechCayman and the need for expertise within areas such as blockchain, cryptocurrency, cyber-security and Web3, organisations are having to look further afield to find the specialist skillsets needed. There is also an increased

number of positions available in software development (specifically within the .NET/C# and python spaces) and network engineering fields, in addition to project management, product management and business analyst roles. These positions are often advertised by and filled through employment agencies. Companies tend to seek mid-level to senior candidates for roles within tech and are generally open to sponsoring work permits and providing relocation support to qualified candidates. The exception to this would be within the areas of IT support, helpdesk and network administration, where there is a significant local workforce, so overseas applicants are usually not considered. There has also been an increase in internships and junior/entry-level tech roles as more tech graduates are entering the workforce now. These roles are always filled by locals.

> Office Support Staff: There is a consistent demand for compliance professionals, corporate administrators, legal secretaries, trust officers and HR professionals; these positions are often filled by employment agencies. Both Caymanians and expats are needed, and it is commonly acknowledged that there are more positions available than people to fill them. However, it is worth noting that although these positions are open to expats, employers prefer candidates who are already on-Island, or in the process of moving here as a dependant, rather than relocating an individual for these roles. There are a few personal and executive assistant positions, but these positions are generally filled by Caymanians. Support staff in accounting firms and non-qualified accounting positions, such as accounts payable/ receivable, also tend to be local.

> Luxury Retail: The major recruiters in the luxury retail field are Island Companies Ltd. and Kirk Freeport. Both would be happy for you to contact them directly. You can email Island Companies Ltd. at acljobs@dart.ky and Kirk Freeport at work@kirkfreeport. com.

> Marketing: There is a non-profit organisation in Cayman called CIMPA

(Cayman Islands Marketing Professionals Association) that provides a platform for professional development and collaboration within the local marketing industry. CIMPA is a good organisation for marketing professionals across Cayman’s business community to connect with each other. Visit www.cimpa.ky for a list of marketing vacancies.

> Sales: Sales jobs in Cayman usually have a commission-based component, and consequently, Caymanians tend to avoid these jobs. The best way to find a sales position is to make a few phone calls from your home country, introduce yourself and then send your resumé.

> Teaching Positions: Jobs in private schools in Cayman regularly come up and if you visit the school’s websites you will find an employment page where you can see if anything is available and how to apply. Private schools also find many of their new staff through international recruitment companies, such as www.tes.com, that find superb teachers for specific positions worldwide. Teaching and education jobs in Government schools, as well as positions within the Ministry of Education, are posted on www.careers.gov.ky. To apply for a position, you must create a profile on the website and then it will let you apply for a specific position. The same jobs are also posted on the Ministry of Education’s Facebook page (@educationcayman). Teacher recruitment is typically done from January to August, with late resignations and support staff being recruited from late August to December. You can also email: careers@gov.ky with questions. Their HR services team will respond to your enquiry very quickly. Employment contracts for teachers are generally two years in length, include a range of benefits and are subject to an annual performance process.

> Telecommunications: Staff are most often hired locally and promoted from within the particular business. Some jobs do occasionally become available, and in these cases, recruitment is often done through local and overseas employment agencies. See the Settling In chapter for a list of the

telecommunication companies in Cayman.

> Caribbean Utilities Company Ltd: CUC is the local electricity company. The Company’s workforce is currently comprised of 82% Caymanian employees and 18% other nationalities, leading to a diverse working environment. Employees are given a number of opportunities for training, which allows growth and upward mobility within the organisation. If you are interested in joining the CUC team, you may email your resumé to careers@cuc.ky or visit www. cuc-cayman.com and navigate to the ‘Careers’ tab on the home page.

> Other: Dart is another corporation that is often seeking motivated employees. Visit their website at www.dart.ky/careers to view the opportunities available.

Recruitment Agencies

Affinity Recruitment Ltd.

2nd Floor, Piccadilly Centre, Elgin Avenue, GT

Tel: (345) 943 2020

Email: info@affinity.ky www.affinitycayman.com

Specialising in permanent and executive recruitment, temporary staff assignments, corporate immigration services and benefit administration. SEE AD PAGE 81 & 95

Baraud

1st Floor, Elgin Court, Elgin Avenue, GT

Tel: (345) 945 1781

Email: recruitment@baraud.com www.baraud.com

With over 30 years of excellence in recruitment solutions, Baraud, Cayman’s industry pioneer and family-owned business, is recognised as the gold standard in recruitment, immigration and managed HR services across the Cayman Islands, as well as permanent job placements, contract support staff, outsourced payroll solutions and extensive translation services.

SEE AD PAGE 83

CML

Tel: (345) 949 1345

Email: info@cml.ky

www.cml.ky

Founded in 2004, CML is the largest professional recruitment firm in Cayman and is a trusted,

strategic employment partner to many of the best-known offshore financial services, legal and IT firms. CML’s mission is to help clients build great teams and to help candidates build great careers.

Invenio Global

42 North Church Street, Grand Cayman

Tel: (345) 769 7000

Email: cayman@invenio-global.com

www.invenio-global.com

Invenio has four uniquely situated locations worldwide: Grand Cayman, Singapore, London, and the Philippines. Their experienced Cayman team are passionate about providing full-service global recruitment solutions to their clients on a permanent, contractual or temporary basis. Being a full-service recruitment consultancy, Invenio’s other specialisations are immigration services, general HR advice and payroll processing solutions. SEE AD PAGE 80 & 91

Nova Recruitment

Tel: (345) 623 1029

Email: info@nova.ky

www.nova.ky

Founded in 2017 with a focus on local talent, Nova Recruitment has since become synonymous with the recruitment of administrative and financial services support professionals in the Cayman Islands. Speak to their team today to see how they can help with your career aspirations.

SteppingStones Recruitment Ltd.

OS19 Harbour Walk, Grand Harbour Tel: (345) 946 7837

Email: info@steppingstonesrecruitment.com www.steppingstonesrecruitment.com

SteppingStones is an award-winning, highly experienced, dynamic and forwardthinking professional services organisation headquartered in the Cayman Islands, specialising in permanent and temporary recruitment. Their dedicated recruiters are committed to identifying and securing the right career opportunities for their candidates while securing the best talent for their clients.

THE Tell them you saw it in the

Immigration

Passports & Domicile

An overview of work permits, employment rights certificates, permanent residency, visas, passports and domicile. Find out more about Cayman’s

ENTRY FOR VISITORS/TOURISTS

At Cayman Resident, we are often asked how many days one can stay in the Cayman Islands as a visitor. By law, a person who has no other basis to enter the Cayman Islands (i.e. a work permit), and no right to residence, may be admitted into Cayman as a visitor for up to six months, with extensions permissible in rare circumstances thereafter. However, many people arriving in Cayman will be permitted entry for an initial 30 days only, unless they own property in which they will be staying and can demonstrate an ability to maintain themselves during their stay. If a person is admitted as a visitor, wants to stay longer and an extension beyond 30 days was not approved on initial arrival, then they must go to Customs and Border Control (CBC) located on 94A Elgin Avenue in George Town before their time runs out, fill in an extension form and request to remain longer. This process can also be done online at www.cbc.gov.ky. Fees of CI$50 are payable for the first extension and CI$100 for each further extension. Note: It can get quite expensive after a few months! However, if you plan well in advance and come prepared with a letter showing you can support yourself, have health insurance and have somewhere to live, you may possibly be given a longer period to stay upon landing. If a visitor is arriving for a significant period, like many of our returning ‘snow birds’ do over the winter, they will generally be admitted for up to six months. For this, they must show the entry officer their return ticket, a very recent bank or investment statement showing that they have sufficient funds to support themselves and a hotel/condo reservation or a lease. This paperwork is looked at very

Photos courtesy of Rebecca Davidson & Bryan Winter

discreetly and returned to the visitor. If the visitor owns a home in the Cayman Islands and can show the Land Register, then a six month permission will be granted to them and other visitors accompanying them.

NEW ARRIVALS WITHOUT CAYMAN CONNECTIONS

If you are looking to move to the Cayman Islands and are neither Caymanian, nor married to a Caymanian, a work permit holder or a permanent resident, below are the normal ways you can become a legal resident:

1) Work Permits

a) Full Work Permit (FWP)

b) Temporary Work Permit (TWP)

c) Business Visitor’s Permit & Visitor’s Work Visa

2) Government Contracted Worker

3) Special Economic Zone Certificate (SEZ)

4) Student Visa

5) Certificate of Direct Investment

6) Residency Certificate (Substantial Business Presence)

7) Residence as a Person of Independent Means

8) Certificate of Permanent Residence for Persons of Independent Means

It is worth noting that an overriding principle of Cayman Islands Immigration Legislation is that employment and career opportunities are offered to Caymanians before any other nationality. Caymanians are given preference over similarly qualified expatriates and employers must generally take steps to provide training opportunities to Caymanians who have the potential to fill a particular position. With the reality that Caymanians have already become a minority in their own Islands, the law expects that efforts be made to ensure that a balance of other nationalities exists so that no other nationality is culturally or numerically dominant. If a Caymanian cannot be found for the position, then preference in employment opportunities is required to be given first to the holders of Residency and Employment Rights Certificates and finally, to other persons who are already legally and ordinarily resident in the Islands, including existing

work permit holders and their approved dependants. As a general rule, only if these categories of persons are unavailable for a position will a permit be granted to a person who is from overseas.

Applications for most immigration permissions are made to the Department of Workforce Opportunities & Residency Cayman (WORC).

1. WORK PERMITS

Not every foreign national working in the Cayman Islands needs a work permit. There are specific categories of persons who are exempt from the requirements; for example, Cayman Islands Government employees. Others can be exempted subject to strict requirements; for example, journalists representing a recognised news organisation, and non-executive directors of companies carrying on business in the Cayman Islands are allowed to attend board meetings, provided they remain in the Cayman Islands for no longer than ten days. A few other examples of people and activities that are exempted include: visitors who are coming to Cayman to organise, attend or speak at a conference or seminar; those representing an overseas educational institution who have come to promote or interview applicants for places, and those visiting for the purpose of servicing or repairing products under warranty.

Despite being a British Overseas Territory, no advantage is given to British nationals over any other nationality.

a) Full Work Permit (FWP)

A Full Work Permit allows a person to work and remain in the Cayman Islands for a specified period. All work permit fees are the responsibility of the employer. The law prohibits employers from requiring employees to pay any part of such fees. Annual fees range from nil (for positions in education) to CI$32,400 and above for the most senior positions in the legal industry. It is an offence for any non-Caymanian (who is not expressly exempted from the work permit regime) to engage in gainful occupation in the Islands without a work

permit or alternative permission.

Prior to granting or renewing a permit, the relevant Board or the Director of WORC will need to be satisfied as to a number of matters, including: 1) the need to engage the services of the prospective worker; 2) attempts to find a Caymanian or other person who is already legally resident to fill the role; 3) the character of the worker (and any dependants); 4) the sufficiency of the salary proposed for the position; 5) the availability of suitable accommodation; and 6) the protection of local interests. The person is also required to have proficiency in the English language if from a non-English speaking country. Many skilled workers are granted a permit for between two and five years, with a renewal fee payable each year. Note: Work permits for self-employed people are only issued in exceptional circumstances. Employers in the private sector, excluding those employing household staff, must hold a valid Trade and Business licence, or alternative licensing commensurate with the industry in which they are operating.

Standard Term Limit (9 Years)

All foreign nationals gainfully employed in the Cayman Islands are currently entitled to be considered for the grant of a work permit for up to nine years. After eight years, most residents can apply for Permanent Residency. However, if they do not apply and are subject to the nineyear term limit, they will not be granted any form of work permit until they have ceased to be resident in the Cayman Islands for at least one year. In most instances, this means they will be expected to leave the Cayman Islands for a minimum of 12 months. Visits in the intervening period for vacation as a genuine tourist does seem to be generally permitted.

Note: There are exemptions to the term limit provisions. For example, a person married to a government worker or a person whose term limit is set to expire before that of their spouse can seek to arrange for their permit to be renewed for as long as their spouse is permitted to continue living and

working in Cayman.

In order to understand the reasoning behind the Government’s creation of limits on work permit terms, it is helpful to know the history of the population increase in this diverse community. The Cayman Islands has undergone a dramatic change since the early 1970s. At the start of that decade, the population was approximately 10,000 people and now, 50+ years later, around 90,000 people live in Cayman. Much of this dramatic increase has come about as a result of foreign nationals settling on the Islands and obtaining permanent rights of tenure. With that change has come not only strains on infrastructure, but also recognition amongst generational Caymanians that their culture might be overwhelmed if the process is not managed correctly. There is also a perception by many Caymanians that their participation in the success of Cayman is diminishing. Whilst the people of the Cayman Islands are welcoming towards foreign nationals, there has been a realisation that continuing to invite ever-increasing numbers of individuals to acquire security of tenure and become permanent inhabitants of Cayman is unsustainable. The Government has announced that it is taking steps to deal with the situation, but the public awaits confirmation of what those steps may be.

Registering a Job on JobsCayman

It is a requirement that almost all jobs are registered on the WORC web portal (www. worc.ky) prior to applying for or renewing a work permit. The first thing you need to do is register your company and then you can register the specific job that you are trying to fill. Call WORC on (345) 945 9672 if you need help with the process.

Required Forms

All immigration permit forms and instructions can be downloaded from WORC’s website (www.worc.ky). Note: An original Police Clearance Certificate (and a certified translation if not in English) is required. At present, there is a general expectation of there being a raised

seal on such documents. Translations are generally required to be provided through an approved local translator (see page 70 for translation services providers). Make a copy of all the paperwork submitted and keep it on file for the rare occasion that the paperwork is lost by the Dept. of WORC.

Police Clearance Certificates (for those already resident in Cayman for six months) These forms must now be requested online: 1) Visit www.eservices.gov.ky and click on the ‘Apply for a police clearance certificate’ tab. 2) Fill in the form. 3) Upload the picture page of your passport and a current work permit stamp for work permit holders. 4) Request for the police clearance to be emailed or mailed to you. The former takes two days and the latter about four weeks. 5) Pay CI$25 per police clearance.

Medical Declaration Letter

All work permits over three months in duration, including Work Permit Renewals, Permanent Residency and Caymanian Status applications, must be accompanied by a completed medical letter. Spouses and children over the age of 18 must also submit a medical letter. Among other things, the medical exam requires you to blood test for TB, HIV and VDRL, and you need a chest x-ray. Medical letters are required every 12 months. See www.worc.ky for more info.

Change of Employer, Promotion or Redesignation

Subject to some exceptions, the holder of a work permit may not change their employer for the duration of a permit. Changing employers upon the expiry of a work permit is permitted, although a release letter from the previous employer is usually requested before the relevant Board or WORC official will grant a permit in favour of a new employer. Protections are in place to prevent expatriate workers from falling victim to unscrupulous employers and WORC will assist workers as appropriate in relevant circumstances.

Workers should however not assume that a work permit will be granted in favour of a different employer. Every application is dealt with on its merits and based on the circumstances prevailing at the time.

During the duration of a work permit, the holder may not be promoted or redesignated without their employer notifying the relevant Board (or director of WORC) and without formal consent being received. This restriction is intended to protect opportunities for Caymanians and to ensure that due revenue is collected. Applications must be made well in advance, with new positions not started until after all required approvals have been forthcoming.

Rules on Residing on-Island Whilst a

Work Permit

is Processing

WORC generally requires that you be offIsland while a Full Work Permit (FWP) or Temporary Work Permit (TWP) application is in process. Therefore, do not book your flight to Cayman until your permit has been approved. Furthermore, although the vast majority of applications are approved without issue, there can be no guarantee that any application will be ultimately successful.

However, if you are already on-Island and are switching from one employer to another, you may not need to leave the Island while your new work permit is processing. Having said this, you should make sure that your release letter from your current employer is dated to take effect on the exact date on which you hope to be authorised to commence gainful occupation in the service of your new employer. If this is not possible, then you may be required to get a visitor’s stamp in your passport when your current work permit is cancelled to avoid any prospect of you being labelled as an overstayer.

Dependants of a Work Permit Holder

The relevant Immigration Board must be satisfied that the worker has sufficient income available to adequately support any dependants. Currently, the Board would expect to see a minimum monthly

household income in the region of CI$3,500 for one dependant to be included, with an increase of CI$500 for each additional dependant. This is a guideline only. In every case, the character, reputation and health of your dependants is taken into consideration, as well as whether you can comfortably afford to feed, house, educate and maintain them in the Islands. There is a possibility that you are granted a work permit, but your children are not allowed to accompany you if your income is considered insufficient.

Each year, a fee of CI$250 will be collected for each dependant of a worker in the unskilled category and CI$500 for each dependant of a worker in the skilled category. It appears to be open to the employer and the employee to agree between them who will pay for this, as it does not constitute part of the Work Permit fee. A non-refundable fee of CI$200 per person is also collected for repatriation. Either you or your employer can submit the letter applying for your spouse or children to be a dependant on your work permit, but your employer must submit a letter indicating the number of hours per week you work, your monthly income and any other benefits you receive. If each parent is working, then the employers of both must provide a letter. If your family members are not added as dependants, then they can only stay here as temporary visitors. Note: Only the following can be dependants of a work permit holder: spouses, children (including step and adopted children), grandchildren, parents, stepparents, grandparents, brothers, sisters (including half-brothers and half-sisters) and civil partners. This means that girlfriends, boyfriends, “common law spouses” and fiancées cannot be listed as dependants. However, the Cayman Islands now generally recognises legally married same-sex spouses as dependants, although the relationship may need to be formally registered as a Civil Partnership.

If a girlfriend or boyfriend comes to the Island without their own work permit, they will be allowed in as a visitor and likely will be given as little as 30 days to stay. It would help their case if they arrived at the airport with a letter from their ‘sponsor’ (the permit holder) that states they will be supported while they are here. If they come in with this letter, they might be given a total of three to six months to stay. Stays of longer than six months in any calendar year by any person classed as a visitor are, in normal circumstances, unlikely to be permitted.

Children Over 18 Years as Dependants

Children who are dependants of work permit holders can only remain on a parent’s Work Permit after the age of 18 if they are, a) in full-time tertiary education or b) in special circumstances (for example, the child is unable, for medical or other exceptional reasons, to maintain themselves). Should your child turn 18 before they finish secondary school, the Immigration authorities will usually allow your child to remain in Cayman, although not formally as a dependant on your work permit, until they complete

HSM is a full-service law firm in the Cayman Islands. Whether you are a business or an individual with a need for Immigration or Employment guidance, HSM’s team of dedicated attorneys have extensive and market leading experience in the identification and implementation of effective solutions.

• Immigration Services

• Immigration Appeals

• Relocation Advice

• Residency Requirements

• Work Permits

• Company Incorporation

• Employment Advice

Alastair David

their secondary education. However, if your child chooses not to go on to university or college and they want to continue living in the Cayman Islands, then their only option may be to try and get a work permit. At this point, they are competing with every Caymanian and Permanent Resident school leaver who will have precedence over them, placing them at a distinct disadvantage in seeking job opportunities. Depending on when they moved to Cayman, they may also run afoul of the Term Limit provisions.

Divorced or Divorcing Couples

If an expatriate couple living in Cayman decide to divorce, any non-working, previously dependent spouse will have no particular right to stay in Cayman. Residence based purely on the presence of children is not contemplated by the Immigration Act. Children in such circumstances can remain as approved dependants of the parent who is on a work permit or Government contract, and can continue to attend full-time education until adulthood (as late as 24 if attending university). However, the formerly dependent parent will likely only be able to remain if they obtain their own work permit (including through the Special Economic Zone regime) or Government contract; or, alternatively, secure some form of residency as a person of independent means. They may be permitted to remain as a tourist, but remaining in such a capacity for more than 90 days can present difficulties, and no permission ought to be expected after six months in any year.

On the other hand, the former spouse of a Caymanian, who is the parent of Caymanian children, will be allowed to remain (subject to various approvals) and be permitted to work until the children complete their education or their 24th birthday, whichever happens sooner.

b) Temporary Work Permit (TWP) In appropriate circumstances and upon suitable application, the Director of WORC or their designate may grant a Temporary Work Permit to an individual,

permitting them to engage in gainful employment in the Cayman Islands. Such permits, if granted, range from terms of one month up to a maximum of six months and generally cannot be extended or renewed. An eight-month permit, or ‘Seasonal Work Permit’, is also available and can span the high season in the tourism industry.

While Temporary Work Permits are often used as a bridge between the arrival of an expatriate worker and the issuance of their Full Work Permit, their use for persons who are not genuinely intended to be temporary employees (except in exceptional circumstances) is discouraged. Nevertheless, where urgency is required in the granting of a work permit and the seeking and gaining of permissions, the authorities will tolerate the use of the Temporary Work Permit regime to achieve expedition.

Notes on a TWP: 1) A medical letter is only required if the permit is being sought for more than three months; 2) There is no prohibition on applicants for TWPs having dependants; 3) TWP applications can be expedited on payment of an ‘express fee’, which can, in normal circumstances, guarantee initial processing within 72 hours. Anticipated changes in the system, which are expected to reduce the application time for many Full Work Permits to as little as two weeks, will likely significantly reduce the ability of employers to rely on Temporary Work Permits for full-time positions.

c) Business Visitor’s Permit & Visitor’s Work Visa

Any business in Cayman that regularly needs workers to come from overseas to work for no more than 14 days on any particular visit may seek to apply for a Business Visitor’s Permit, allowing such individual(s) permission to work for a specified number of visits per year, subject to strict limitations. These Business Visitor’s Permits are not available for people attending for one visit only.

There is also a category of Visitor’s Work Visa that permits individuals who are

employed outside of the Islands (and who wish to visit for up to five calendar days at a time to engage in commercial activity with a locally licensed entity or person/ sponsor) to apply for the grant of a Visitor’s Work Visa. To obtain a grant on arrival, the local business or visiting worker must download a ‘Letter of Invitation’ form from the Immigration website and email it to imm-vwv@gov.ky at least 24 hours before they are due to arrive. It should be noted that once approved, the person will be required to pay CI$100 at the airport. The Visitor’s Work Visa is not available to those who are employed in a professional capacity (lawyers, accountants, medical professionals, architects, surveyors, teachers and other occupations), or who are otherwise not entitled to a work permit by virtue of having reached their term limit. The Visitor’s Work Visa also does not exempt someone from the requirement to obtain an entry visa if they possess a passport from a country that would otherwise require a Visitor’s Visa to enter the Cayman Islands. In addition, a business visitor may not hold more than one Visitor’s Work Visa in relation to the same sponsor or sponsors within the same calendar month, but unlike a Business Visitor’s Permit, a Visitor’s Work Visa may be used for a single visit. Visitor’s Work Visas are dealt with by the Department of Customs and Border Control (CBC), not WORC.

2. GOVERNMENT CONTRACTED WORKERS

Any person employed as a Civil Servant by the Cayman Islands Government, or employed by other prescribed employers, including the Government of the United Kingdom, does not require a formal work permit and will have the appropriate permissions for them and their approved dependants to live in the Cayman Islands stamped into their passports. Whilst no term limit is currently applied to such persons, they are eligible to apply for Permanent Residence pursuant to the points system once they have been

resident in the Islands for more than eight years. Care must be taken to ensure that any dependent children are able, should they wish, to remain resident in the Cayman Islands in the event that they cease to be classed as dependants on their parent’s Government contract.

3. SPECIAL ECONOMIC ZONE CERTIFICATE (SEZ)

These certificates are, in effect, a special category of work permit. They are only available to employees of entities (‘Special Economic Zone Enterprises’) established within Cayman Enterprise City’s SEZs, including Cayman Tech City, Cayman Commodities & Derivatives City and Cayman Maritime & Aviation City. Zone Certificates enjoy certain advantages over traditional work permits, including a lower cost to employers and an exemption from any requirement to prefer Caymanians or other legal residents for any employment. Accordingly, no advertising is required as part of the application process and the permissions are capable of being granted in only a few weeks. Applications can be made to Cayman Enterprise City and a number of local law Corporate Service Providers assist enterprises establishing within an SEZ.

4. STUDENT VISAS

A non-Caymanian who is 18 years of age or older, seeking to enter the Cayman Islands to attend a recognised educational institution on a full-time basis, may be granted a student visa. The student should be self-sufficient or provide proof of support from other means. They must also submit a medical letter and a police clearance certificate when applying. The application process generally takes four weeks. The student visa does not allow the student to engage in any gainful occupation. The student is expected to leave the Cayman Islands upon completion of the programme. Student visas can be granted for a period of up to four years but may be extended for a further 12 months. A person on a student visa may, after the

proper application, have a dependant added to their application. It is possible, in appropriate circumstances, for a student to be given a visa to study online whilst in the Cayman Islands, even though the institution is not physically here.

5. CERTIFICATES OF DIRECT INVESTMENT

Wealthy individuals who are in a position to invest a substantial sum in an employmentgenerating business or businesses in the Cayman Islands may wish to participate in an incentive scheme intended to attract investors and their dependants. Such individuals, provided they can demonstrate an investment (or imminent investment) of a minimum of CI$1,000,000 in an employment generating business (or businesses) on the Island, may apply to the Director of WORC for a Certificate of Direct Investment.

Approval-in-Principle Certificates, which are valid for six months, are available prior to applying for a full certificate. Full

certificates are valid for 25 years and are renewable. Such a certificate entitles the holder to reside in the Cayman Islands and to work in the business in which the holder has invested.

The spouse and dependent children (where applicable) of the holder of a Certificate of Direct Investment will, on successful application, be granted a Direct Investment Holder’s (Dependant’s) Certificate, permitting them to reside in the Islands for the duration of that certificate. The application fee is CI$1,000, with a further CI$20,000 payable on issue of the certificate and an additional CI$1,000 payable for each approved dependant.

6. RESIDENCY CERTIFICATES (SUBSTANTIAL BUSINESS PRESENCE)

A Residency Certificate (Substantial Business Presence) is available to individuals who either own at least a 10% share in an approved category of business or will be employed in a senior management capacity

within such a business. In each case, the business must have a substantial presence in the Cayman Islands. It is designed and intended to be less onerous than the more established option of a Certificate of Direct Investment and is not limited to owners of the business.

Approved categories of business include: fund administration, brokerage services, investment and fund management services, investment banking, financial trading (including foreign exchange, securities and derivatives), captive insurance or reinsurance management services and underwriting, actuarial services, insurance claims management, family office, hedge fund administration, any business in Cayman Brac providing back office support, and any company registered as an exempted company under section 164 of the Companies Act (2018 Revision). It is expected that people in these positions would fill a senior management capacity and, therefore, ordinarily attract an annual work permit fee of CI$20,925 or above (CI$5,000 or above if based in Cayman Brac). Provided the Director of WORC is satisfied that the applicant and any spouse have clean criminal records and that they and any dependants are in good health and possess adequate health insurance, as well as fulfilling the other requirements, the applicant will be issued a 25-year Residency Certificate. A grant fee of CI$5,000 is due on issuance, with a further CI$1,000 payable in respect to each approved dependant. In addition, Certificate holders are required to pay an annual fee equivalent to that payable by a work permit holder in the same occupation.

7. RESIDENCE AS A PERSON OF INDEPENDENT MEANS

For foreign nationals not wishing to work in the Cayman Islands but simply wishing to have the right to reside, there are alternative options. In particular, one can apply to the Director of WORC for a Residency Certificate, which is valid for 25 years and is renewable. To reside in Grand Cayman, the person must show proof of

an annual income of at least CI$120,000 (without engaging in employment in the Cayman Islands) along with an investment of CI$1,000,000 (of which CI$500,000 must be in developed real estate). The remaining CI$500,000 must be invested in a locally trading company or property. Holding assets with a broker or monies in a local bank account (whilst encouraged) does not count for these purposes. Investing in a local business, or even one which has publicly traded shares, such as Caribbean Utilities Company, can count. Most often, applicants will simply buy a substantial home (or a number of apartments) and immediately meet the requirement.

A deposit maintained in a local bank or institution of no less than CI$400,000 deems an applicant to have sufficient funds (and income) to maintain themselves and their dependants.

To become resident in Little Cayman or Cayman Brac, proof of an annual income of CI$75,000 without the need to be employed in the Cayman Islands is required, as well as an investment of CI$500,000 locally, of which at least CI$250,000 must be in developed residential real estate.

Whichever Island is to become your home, there is a one-time fee payable on grant of CI$20,000, and a further CI$1,000 payable for each approved dependant. The initial application fee is CI$500. The CI$1,000 dependant’s fee is then payable annually. The process of applying for a Residency Certificate is relatively straightforward, although at present requires approximately four months to be processed. Legal fees for this option are unlikely to exceed US$8,000.

Note: With this form of Permanent Residency, you can never claim to have changed your domicile. Those seeking to establish a formal domicile in the Cayman Islands are generally advised to seek a Certificate of Permanent Residence.

8. CERTIFICATES OF PERMANENT RESIDENCE FOR PERSONS OF INDEPENDENT MEANS

This is the ultimate permission which can

grant Permanent Residence with the right to reside permanently in the Islands for the rest of one’s life. It is based on investment, rather than on waiting eight years to become eligible to apply, subject to a points system, for Permanent Residency. Unlike Residency for Persons of Independent Means, this option has no expiry date and qualifies the holder (upon certain criteria being met) to become eligible for Naturalisation as a British Overseas Territories Citizen (BOTC) once they have been legally resident in Cayman for five years, and have held Permanent Residence for at least one year. Once Naturalised, they are entitled to a BOTC (Cayman Islands) passport. Upon further application for registration as a British Citizen, they can become a full British Citizen. Neither Cayman nor the United Kingdom require the surrender of any existing citizenship. Finally, once a person has been a BOTC for five years, they can apply to become Caymanian.

In order to qualify for the Certificate of Permanent Residence for Persons of Independent Means, applicants will be required to have invested a minimum of CI$2,000,000 in developed real estate and possess sufficient financial resources to maintain themselves and their dependants. An applicant will also need to demonstrate that they and their dependants are in good physical health and are of good character. The number of these types of certificates is restricted to an annual quota of 250 set by the Cabinet. The application fee is CI$500 with a further CI$100,000 due upon grant and an additional CI$1,000 payable per dependant.

The right to work in an approved occupation can be gained subsequently with an annual fee thereafter payable, equivalent to a work permit fee, for as long as employment is maintained, or until the individual becomes a Caymanian.

Enforcement

Breaches of the Immigration Law are treated as quasi-criminal by the Department of WORC and can have very serious

consequences for all concerned. Overstaying, working or employing someone without or outside of the terms of permission granted may result in arrest and prosecution.

EXISTING RESIDENTS - CAYMAN CONNECTIONS

For those expatriates with a connection to the Cayman Islands, various options may be available. These are as follows:

1. Permanent Residency with the Right to Work

a) Based on application made after 8 years of living in Cayman

b) Based on being the Spouse of a Permanent Resident

c) Based on being the Child of a Permanent Resident

d) Based on being the Spouse of a Caymanian

2. Permanent Residency (without the Right to Work) as a British Overseas Territories Citizen registered by entitlement by virtue of a connection with the Cayman Islands

3. Naturalisation

4. Acquisition of the Right to be Caymanian.

1. PERMANENT RESIDENCY (PR) WITH THE RIGHT TO WORK

a) Based on application made after eight years of living in Cayman

Almost all persons who reach eight years of continuous legal ordinary residence in the Cayman Islands are eligible to apply for Permanent Residence with the Right to Work. Applicants are assessed under a points system which seeks to be as objective and transparent as possible, and those achieving 110 points or more are assured of a grant. If you are successful in gaining a Certificate, you must annually submit a declaration in respect of your job, investments and other factors, including the status of your dependants. There is a condition whereby if the Certificate holder sells an investment that was listed in their application for PR, they must purchase an alternative qualifying investment within 180 days and inform the Board, with the details of the transaction, within 30 days. An unsuccessful applicant (who does not appeal) will be given permission to continue working for no less than 90 days, following which they will be expected

to leave the Islands. An application for Permanent Residence with the Right to Work can be administratively onerous, although applicants, particularly those individuals who prepare over the years leading up to it, are likely to find their application successful.

Under most conditions, if an applicant is successful, then they can remain in the Cayman Islands indefinitely, provided an annual fee is paid by them or their employer, which is the equivalent of the fee paid for a Full Work Permit. They can work for any employer, although limitations are placed on the specific role which they are entitled to fill. Variations may be granted with the prior approval of the Caymanian Status and Permanent Residency Board or Director of WORC. Factors considered in a Permanent Residence application include:

> Your Occupation, Including Whether it is “Priority” in Nature: 15 points are presently available for each and every occupation, with (at least theoretically) another 15 bonus points available in relation to occupations which have been determined by the CI Government to be “Priority” in nature. No list of “Priority” occupations has been published at time of writing.

> Education, Training and Experience: A point is available for each year of experience that an applicant has been in their role (after a minimum threshold of two years and subject to a maximum of 10 years). Points are also available based on levels of academic or other qualification relevant to their occupation or role. For example, persons with professional qualifications are eligible for 15 points, whilst possessing an Associate’s degree will garner 8 points. A total of 25 points are available.

> Local Investments: Investment in Cayman Islands real estate and/or in a locally licensed company has the potential to generate up to 30 points. The total amount paid towards such investment(s) (including the full amount of any mortgage payments, the cost of renovations, where applicable, and stamp duty paid) is assessed relative to an applicant’s income over the prior five years. This is subject to a minimum

threshold of CI$50,000. Investments in excess of CI$500,000 are guaranteed maximum points.

> Financial Stability: Evidence of savings held in local bank accounts (again relative to income) generates points. The maximum 15 points available will be awarded to any applicant who can demonstrate that they have (and have maintained) in excess of 5% of their last 12 months’ income in a local bank account. Further additional points are based on annual salary and income. By way of example, a person earning CI$55,000 each year will (generally) be awarded seven points. However, in calculating the points available for a given salary, a deduction is made from the salary in respect of dependent children. The amount deducted varies depending on whether or not the child is of school age. Of vital importance is your ability to provide for the healthcare and educational needs of your family.

> Community Involvement and Integration into the Caymanian Community: Up to 20 points are available. By way of

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example (provided more than 35 hours are spent over a year in relation to relevant participation), two points will be awarded for each year an applicant has been engaged in relation to the rehabilitation of offenders, whilst participation and assistance in a local service club will generate 1.5 points for each year. Other points can be gained through charitable donations. Working with children and vulnerable adults may garner more points to your contribution to the community. Outstanding initiatives to get involved in include the Aim Higher mentoring programme (email: pamella. mitchell@kobrekim.ky) and the LIFE (Literacy is For Everyone) programme (email: volunteer@life.org.ky). See the Community Life chapter to get other ideas of where to get involved. You may be eligible for slightly more points if you can demonstrate that you have been training or mentoring Caymanians, especially if the mentoring is outside of normal work hours and is unrelated to your employer.

> History and Culture Test: You will be asked 40 multiple choice questions and will receive half a point for each correct answer. The questions on the test have generally been taken from the following books: The Cayman Islands in Transition (by J.A. Bodden; Roy Bodden), Founded Upon the Seas: A History of the Cayman Islands and Their People (by Michael Craton), Foundation - The Arts and Culture of the Cayman Islands Volumes 1-4 (by the Cayman National Cultural Foundation), Caymanian Expressions: A Collection of Sayings and Expressions Used in the Cayman Islands (by Kevin M. Goring), plus local media and facts regarding community and cultural events. The University College of the Cayman Islands offers a four-week course that covers the history, culture, political system, general facts and the evolution of the economy of the Islands. It appears to be highly relevant to the test.

> Close Caymanian Connections: Having a close relative who is Caymanian will result in an automatic award of points. The number of points varies depending on the nature of the relationship.

> Demographics and Cultural Diversity: Points are awarded based on an applicant’s country of origin, provided their nationality is below 10% of the number of work permits in force. At present, Jamaicans and Filipinos are ineligible for points. Citizens of these countries already comprise approximately 42% and 16% of work permits in force in the Cayman Islands, respectively.

> Age: Applicants are eligible for varying points depending on their age. The most “desirable” bracket is in respect of applicants aged between 25 and 35. 10 points are awarded for persons falling within this range as of the date of application.

> Deductible Components: Points can be lost in defined circumstances, including where an applicant suffers from a contagious disease that could make them a danger to the community, are proven to have mistreated fellow workers, have criminal convictions or where they do not have an adequately funded pension.

The Board has the power to revoke the Permanent Residence of any holder who “fails to maintain the level of financial investment stated in the application”. The law also states that if false information is provided or a material fact is concealed in the application, the Board may revoke any Permanent Residence granted. Permanent Residents are required to report details of their circumstances annually. Finally, if persons become destitute subsequent to the grant of permanent residence, it may be revoked. Harsh as this might sound, without a large tax base available to provide an extensive social safety net, the Cayman Immigration (Transition) Act seeks to ensure that only people who will not become a burden on society are awarded PR. As the current system stands, unless you own a property or shares in a business in Cayman, it can be difficult to make enough points to qualify for Permanent Residency. Applicants are likely to gain the most points should they purchase a property well before being eligible to apply, as any mortgage payments (including interest) will count in the assessment. The Cayman Islands Government is understood

to be reviewing the system and prospective applicants are accordingly encouraged to seek points across the fullest possible range of opportunities.

Permission to Continue Working (PCW)

When a person applies for Permanent Residency, they must apply for and be granted Permission to Continue Working (PCW) before any existing work permit expires. Otherwise, they will have to cease work when their latest permit expires. In that case, they are not entitled to work whilst awaiting the outcome of their application for permanent residence until they have a PCW stamp in their passport. A PCW stamp attracts the same fee as a sixmonth work permit and must be renewed every six months while the application is pending. Most Permanent Residence applications are presently dealt with in approximately 12 months.

The Next Step for Permanent Residents

Many people have asked what happens next once someone has been granted Permanent Residency (PR). Below we explain.

> Naturalisation: Once you have been granted PR, you only need to wait 12 months from the date of approval before applying to be Naturalised on the grounds of residency. This is an essential step if you would ultimately like to apply for Cayman Status (other than on the basis of being under 18 and the child of a Caymanian, or the spouse of a Caymanian).

> The Right to be Caymanian (Caymanian Status): Once you are Naturalised and five years have passed (or you are Naturalised and have been resident in the Cayman Islands for 15 years, whichever happens earlier), you can apply for Caymanian Status. See the Right to be Caymanian section in this chapter for more information.

How to Appeal a Permanent Residency Refusal

If your PR is turned down, the first thing you have to do is decide whether you are going to appeal the decision or not. If you choose to appeal, the next step is to serve a formal Notice of Appeal on the Secretary

of the Immigration Appeals Tribunal (IAT), which is located in the Government Administration Building. Your Notice of Appeal ought to be received by the IAT within 28 days of your application being refused. At this point, all you need to include in the letter are: a) the grounds under which you are filing the appeal (i.e. that the refusal was (i) erroneous in law (ii) unreasonable (iii) contrary to the principals of natural justice or (iv) at variance with the Immigration Regulations); b) the decision against which the appeal is made; c) a copy of your original application and the refusal letter (if the latter document is available); and d) a bank draft for CI$1,000 made payable to the CI Government, which is non-refundable.

Once the IAT receives your appeal paperwork, you will be issued with a receipt and the IAT will request, from the Department of WORC, an ‘Appeals Statement’ which will include the reasons for the decision to turn down your PR. It will also include their scoring of your PR application plus all the paperwork which went with your original PR application. The IAT will then forward all of this to you. You are then required to file detailed grounds of your appeal with the IAT and serve a copy on WORC within 28 days of receipt of the Appeals Statement. In your appeal you must provide written arguments as to why you disagree with the points given in each section, raise any relevant other factors and provide any supporting evidence/documents. The use of an attorney in relation to the preparation of rebuttal grounds of appeal is strongly encouraged as many of the details can be very technical in nature.

The IAT will review all the documents and decide whether the appellant’s case has merit. If the IAT decides in favour of the appellant, this will be communicated. The successful appellant will then be given an opportunity to submit updates and/or provide fresh evidence for consideration, and any changes in circumstances as it relates to the application. The IAT will then reconsider your application and assess

you afresh against the points system. Once the Tribunal has made its decision, the IAT Secretariat will inform you of it.

b) Permanent Residence as the Spouse of a Permanent Resident Permanent Residents will have to continue paying CI$500 per year per dependant until they (or the Permanent Resident) become Caymanian. If you are on a government contract and receive PR, you appear to have the choice of putting your dependent children on your PR (and paying the CI$500 fee per year) or keeping them on your government contract and paying no fees for them. There are other rules worth considering.

The dependent spouse of a Permanent Resident can and (in most cases) should apply for their own Permanent Residence and Employment Rights Certificate (RERC) in their own right, as soon as their spouse is granted Permanent Residence. They do not have to wait the usual eight years of residency and do not have to take any test or be subject to the points system. They should also apply to be naturalised after having PR for one year and then apply for the Right to be Caymanian as soon as five years have passed, or they have been living in the Cayman Islands for a total of 15 years. Do not overlook your children’s Naturalisation and Status application in this process!

Many people just carry on having their Residency and Employment Rights Certificate (RERC) as the Spouse of a Permanent Resident ‘tied to’ their spouse’s PR since there is no time limit on the award. This can, however, create problems down the line. For example, a problem arises when one of the spouses applies for and is granted the Right to be Caymanian. At this point, the RERC holder/spouse (and children) must have their Immigration status in the Islands ‘regularised’ within 45 days. In effect, and according to the interpretation applied to date by the authorities, the spouse can no longer be deemed the dependant of a PR holder when the person is now a Caymanian –

and if applications are not made promptly, they can lose the right to live in Cayman. As it pertains to accompanying children, as long as they are under the age of 18 and the parent acquires Cayman Status, they can apply for the ‘Acknowledgement of the Right to be Caymanian by Entitlement’ within those 45 days, provided they have resided in Cayman for a minimum of one year. If there are some accompanying children who are over the age of 18, they must apply within 45 days for a continuation of their Residency under Section 39 of the Immigration (Transition) Act, but only if that child has been legally and ordinarily resident in the Islands for a minimum of seven years. Being away for schooling does not affect their ability to apply (provided Cayman has clearly remained their home throughout). Such applications are dealt with by the Director of WORC. It is very important that this rule is understood, as applying for Permanent Residency under Section 39 of the Immigration (Transition) Act grants

the child PR independent of their parents. Serious issues have also occurred when Permanent Residents have become Caymanians. A policy provides that all dependent spouses have exactly 45 days to apply for Caymanian Status (if they have been married for over seven years) or for a Residency and Employment Rights Certificate as the Spouse of a Caymanian (if they have been married for under seven years). However, people have run into immovable problems if their marriage has broken down in the intervening years. One of the requirements in the Immigration (Transition) Act is that you can hand-onheart tick the box saying you have a stable marriage. If you cannot, then there are no particular rights remaining for you in the law; your certificate, as the spouse of a Permanent Resident, may have become void and you cannot now swap it for Caymanian Status. This means you may not be allowed to stay in the Cayman Islands. If you have children, the consequences can be devastating. It can accordingly be extremely important to make all relevant applications in a timely manner.

c) Permanent Residency Based on Being the Dependant Child of a Permanent Resident

An expatriate child of a Permanent Resident (even if the child has a Cayman Passport) must, in most cases, be a dependant on a parent’s Permanent Residence. Upon turning 18, most will be eligible to apply for Permanent Residence in their own right under section 39 of the Immigration (Transition) Act. They can do this without being subject to the points system, provided they have been legally and ordinarily resident in the Cayman Islands for seven years prior to the application being made, were named on their parent’s application and approved, and are of good character. Their parent must also continue to be a Permanent Resident or have become Caymanian. Any such application must be made before the child turns 19 (ideally prepared even before they turn 18), but if the parent’s RERC has been varied

to allow the child to be a dependant past 18, it can be made up until the child is 24, provided the child is still in tertiary education or within six months of the end of such education. They will then be able to apply to become Caymanian once they have been in Cayman for 15 years and are Naturalised or Registered, or five years after having been Naturalised or Registered and become a British Overseas Territories Citizen (BOTC). An expatriate child of the expatriate spouse of a Caymanian, and whose expatriate parent holds a RERC (Residency and Employment Rights Certificate) as the spouse of a Caymanian, can be added as a dependant of their parent until they are 18 (unless they continue into tertiary education and their permission is varied).

d) Permanent Residence as the Spouse of a Caymanian

The spouse of a Caymanian has no inherent right to live or work in the Cayman Islands (apart from any unexpired permission they may have held before being married to a Caymanian) unless they apply for and have been granted a Residency and Employment Rights Certificate as the Spouse of a Caymanian. The Cayman Islands Government has now amended the Law and these RERCs are now permanent in nature. Unlike other RERCs, these place no restrictions on occupation, presently require no annual declaration and require no annual fees. These certificates can, however, be revoked and may become void in the event of a breakdown in marriage. It can take several months to obtain a RERC as the Spouse of a Caymanian and so it is recommended that you apply as soon as possible. Only where the application is made while the applicant has a work permit, can the applicant continue working while the application is pending.

Death or Divorce From a Permanent Resident

The surviving or former spouse of a Permanent Resident is required to notify the Director of WORC and the Caymanian Status and Permanent Residency Board

of their change in circumstances within six months. Within these six months, the surviving spouse or former spouse may be eligible to apply for the grant of a Residency and Employment Rights Certificate in their own right. It may be important to consult with a lawyer or reputable immigration services company to confirm your standing and options in the event of appropriate circumstances arising.

2. PERMANENT

RESIDENCY BASED ON REGISTRATION BY ENTITLEMENT AS A BRITISH OVERSEAS TERRITORIES CITIZEN

Any child who is born in the Cayman Islands and whose parent subsequently becomes a Permanent Resident or lives the first 10 years of their life here may, immediately upon their tenth birthday, seek Registration as a British Overseas Territories Citizen (BOTC) by Entitlement. All persons so registered have prima facie right to remain in the Cayman Islands for life (and hold a BOTC (Cayman Islands) passport). Applications in relation to children who have lived in Cayman for the first 10 years of life are independent of a parent’s immigration status and cannot be denied to a child who meets the criteria. This reality is a reason for the rollover policy. It also creates an enormous opportunity for the Caymanborn children of those to whom the rollover is not applied, including Civil Servants and anyone exempted from term limits, such as persons married to government employees or even work permit holders.

3. NATURALISATION

If you are a Permanent Resident adult and not married to a Caymanian, getting Naturalised as a British Overseas Territories Citizen (BOTC) is an essential step in the process of acquiring Caymanian Status. Once you have had PR for 12 months (and have lived in Cayman for at least five years), you can apply under the British Nationality Act for Naturalisation as a British Overseas Territories Citizen (BOTC) by virtue of a connection with

the Cayman Islands. As part of the application paperwork, you will need to provide a current travel history from CBC. If you have been outside of the Islands for longer than 90 days in total in one year, or a total of 540 days over the course of five years, then this may affect your ability to be granted Naturalisation on the grounds of residency. If you are applying for Naturalisation on the grounds of being married to a BOTC, then you ought not to have been off the Islands for more than 270 days over the course of three years leading up to your date of application. Note: You will still need to pay your PR work-related fees every year once you are Naturalised. However, the spouse of a Caymanian is not liable to pay these fees.

The spouse of a Caymanian or Permanent Resident can apply for Naturalisation 12 months from the date that their RERC was approved, provided they have been resident in the Islands for at least three years and apply on the basis of marriage to a BOTC. Application is made to the Deputy Governor and must include an up-to-date travel history covering the last five years (you can obtain this from CBC), as well as certified copies of your relevant documents and a fee of CI$825. Note: A child under the age of 18 can (on successful application) be registered as a BOTC and the cost is CI$450.

Naturalisation entitles the applicant to a Cayman Islands passport but does not make the applicant a Caymanian (i.e. does not grant Status) or give them a right to work or even necessarily to reside in the Islands. It does, however, normally entitle the holder to ultimately apply for the Right to be Caymanian on the basis of residence, provided they remain legally and ordinarily resident in Cayman.

The fact that many people who have become naturalised or registered or have otherwise become BOTCs and possess Cayman Islands passports without being Caymanian can be potentially confusing. It is perhaps best to think of a Cayman Islands passport as a travel document, naturalisation (or registration) as becoming

a BOTC (but not a Caymanian), and being Caymanian (known as possessing the Right to be Caymanian) as possessing a particular type of Immigration permission (whether by right, entitlement or grant). Not all Caymanians are BOTCs, and accordingly, large numbers of Caymanians are not entitled to hold Cayman Islands passports.

4. ACQUISITION OF THE RIGHT TO BE CAYMANIAN

Any person who has been naturalised as a British Overseas Territories Citizen (BOTC) by virtue of their connection with the Islands may, upon satisfying various residency requirements (being resident for 15 years or being naturalised for five years, whichever happens sooner), apply for the Right to be Caymanian. Individuals who have been married to a Caymanian for seven years can also apply for the Right to be Caymanian. The surviving spouse of a Caymanian can apply for the Right to be Caymanian as long as they had been married for seven years and fulfil the other criteria. A person who is the child of a Caymanian, no matter the basis on which the parent became Caymanian, is generally

Any individual who acquired the Right to be Caymanian can lose that right if they move away from the Cayman Islands for more than five years (other than if they are away for medical or education purposes), and if they are convicted of an offence which was made possible by, facilitated by or connected with the grant of the Right to be Caymanian. For further details, visit www.caymanresident.com.

Spouses & Children of Caymanians

When a Permanent Resident is granted Caymanian Status, the spouse and children of that new Caymanian must have their immigration status ‘regularised’ within 45 days. In effect, the spouse/children can no longer be deemed dependants of a PR holder once the person is a Caymanian! In those 45 days, the spouse of a Caymanian has two options depending on how long they have been married: 1) if married for seven years, the spouse may be automatically entitled to apply for Caymanian Status as the Spouse of a Caymanian, or 2) if married for less than seven years then the spouse needs to apply for a Residency and Employment Rights

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requirements in the Immigration Act is that you can hand-on-heart tick the box saying you have a stable marriage. If you cannot, your certificate as the spouse of a Permanent Resident may become void in 45 days and you cannot now swap it for Caymanian Status. This is why you should always apply for Permanent Residency in your own right, and then apply for Naturalisation and Cayman Status the moment you can.

As it pertains to accompanying children, as long as they are under the age of 18 and the parent acquires Cayman Status, they can apply for the Acknowledgement of the Right to be Caymanian by Entitlement within those 45 days. This Status, however, will expire at age 18, so it is essential that they apply for “continuation” before they turn 18. For children applying for Status, there is now an acknowledgement form in which you have to give proof of the schools your child has attended in the Cayman Islands (or overseas), proof of how the child was able to remain and reside in Cayman (whether they were a dependant on a PR or Government worker’s contract), the birth certificate of the child and marriage certificate of the parents and pay a fee of CI$50. Children who go to boarding school will not be affected as long as their home has always been Cayman, and they return home most holidays.

If there are some accompanying children who are over the age of 18, they must apply, within 45 days, for a continuation of their Residency under Section 39, but only if that child has been legally and ordinarily resident in the Islands for a minimum of seven years. Being away for full-time secondary schooling or tertiary studies (again, provided Cayman remains their home and they return for holidays) does not affect their ability to apply. It is very important that this rule is understood, as applying for PR under Section 39 of the Immigration (Transition) Act grants the child PR independently of their parents.

Marrying a Caymanian

A person who is newly married to

a Caymanian needs to apply to the Caymanian Status and Permanent Residency Board for a Residency and Employment Rights Certificate (RERC) as the Spouse of a Caymanian, which allows them to remain and work in any occupation and the certificate remains valid for as long as the marriage remains stable. It no longer expires at the seven-year mark. If they are in possession of a work permit before they are married, then the work permit remains valid for its duration. Provided an application for a RERC is made before the expiry of the work permit, the right to live and work in the Cayman Islands continues whilst the application for a RERC is pending. If the RERC is approved, after the seventh anniversary of the wedding, and as long as the marriage is still stable, the holder may apply for the Right to be Caymanian. There is a nonrefundable application filing fee of CI$300 and, when approved, there is an additional government fee of CI$400. A person who has been resident in the Cayman Islands for many years and goes on to marry a Caymanian may apply for Permanent Residency in their own right as long as they apply before they have been resident for eight years. They may also apply for an RERC. The difference is that if the marriage does not last, they will not lose their residency status. Note: The RERC application must include an affidavit to the effect that your marriage is not one of convenience.

Marriages of Convenience

The Cayman Islands Government is very aware that marriages of convenience have been arranged in order for foreigners to move to Cayman, remain, live and work without paying work permit fees. Offenders will be penalised if identified. The Cayman Islands Government has recently been focusing on this issue. Hundreds of so-called “sham marriages” have been identified. They appear to fall into two distinct categories. The first, and most obvious, being where the marriage is itself an artificial arrangement to seek

to defeat the Immigration legislation. The second, proving more difficult to police, is where the marriage concerned started as a genuine relationship but has broken down without that change in circumstances being reported to the authorities. Legislative amendments are coming.

Former Spouse of a Caymanian

In the instance where the former spouse of a Caymanian is the mother/father of a Caymanian child, they will usually be allowed to remain (subject to various approvals) and be permitted to work in the Cayman Islands until the child(ren) complete their education or reach their 24th birthday, whichever happens sooner. If their last child reaches the age of 18 (or is in full-time tertiary education) and the non-Caymanian parent has not obtained an alternative immigration permission before this point, then the parent will, according to the provisions of the law as presently drafted, have to leave the Cayman Islands. Such a parent will, however, have an opportunity to apply for Permanent Residence pursuant to the points system, provided Cayman has been their home for more than eight years.

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Baraud

Tel: (345) 945 1781

Email: info@baraud.com www.baraud.com

Baraud has been providing advisory services on all aspects of immigration requirements in the Cayman Islands, from a Temporary Work Permits and Work Permit Grants to Renewal applications, Permanent Residency, Naturalisation and Caymanian Status, as well as Permanent Residency for persons of independent means. Their thorough and extensive knowledge of the local immigration acts and regulations, policies and procedures, coupled with their long-standing working relationship with the Department of WORC, enables Baraud to manage your immigration challenges seamlessly. SEE AD PAGE 83

Bedell Cristin

Tel: (345) 949 0488

Email: caymanenquiries@bedellcristin.com www.bedellcristin.com/services/relocationresidency

Bedell Cristin’s Cayman team has over 20 years of experience in helping clients with their immigration needs. The team works with international and domestic businesses, advising on how to comply with business staffing plans and work permit requirements, as well as guiding high-net-worth individuals through the process of applying for Permanent Residency, Naturalisation and Caymanian Status. SEE AD PAGE 33 & 93

CML Immigration Services

Tel: (345) 623 1025

Email: immigration@cml.ky www.cml.ky

Specialising in work permit management and residency services, CML offers a comprehensive immigration advisory service to ensure everything goes smoothly for their clients. If you want an immigration partner that understands your business or family’s needs and won’t let you down, contact CML today.

Conyers

Tel: (345) 945 3901

Email: cayman@conyers.com www.conyers.com

Conyers is a leading international law firm with extensive experience in immigration law, advising on all matters related to moving and living in Cayman. From personal immigration needs, including Permanent Residence and Caymanian Status, to Residence by Investment programmes, Conyers can help you anticipate and avoid problems. SEE AD PAGE 97

HSM

Tel: (345) 949 4766

Email: immigration@hsmoffice.com www.hsmoffice.com

HSM is a full-service law firm with immigration and relocation services, including business establishment, appeals, Caymanian Status, Permanent Residency and Naturalisation applications. SEE AD PAGE 57, 89, 162 & 164

Invenio Global

42 North Church Street, George Town

Tel: (345) 769 7000

Email: cayman@invenio-global.com www.invenio-global.com

With qualified and professional consultants who have over 15 years of combined immigration experience, Invenio can resolve any problems you face through their Cayman immigration services. Their services include help with work permits (applications, amendments, cancellations, tracking and reimbursements), Permanent Residency, Naturalisation, Caymanian Status, Notary Public services and more. SEE AD PAGE 80 & 91

OWC HR & Immigration Services

Tel: (345) 327 2321

Email: info@owcservicesltd.com www.owcservicesltd.ky

OWC HR & Immigration Services specialises in solving your HR and immigration problems. They work with you every step of the way to make sure that you understand the choices you are making and feel empowered to make them. Their immigration services include Canada, Cayman, Jamaica, UK and US Visa applications. Also Cayman, Jamaica, UK and US passport applications and renewals, as well as work permits, Caymanian Status, Permanent Residency, Naturalisation, British Registration, Employment Rights Certificate and more. They also offer notary services. SEE AD THIS PAGE

Reside Cayman

Tel: (345) 746 6345

Email: hello@residecayman.com www.residecayman.com

Navigating Permanent Residency, relocation, and immigration in the Cayman Islands can be a difficult process. At Reside, they use over two decades of experience to put you on the right path to paradise. They would be happy to have an initial chat to clarify any aspect of your own personal aspirations.

Stuarts Humphries

Tel: (345) 949 3344

Email: buck.grizzel@stuartslaw.com www.stuartslaw.com

Stuarts immigration lawyers provide comprehensive Cayman Islands immigration and Permanent Residency advice. They support many clients to relocate to and establish businesses in the Cayman Islands from various locations in the world. SEE AD PAGE 66

Legal Befrienders

87 Mary Street, 2nd Floor, Apollo House West

Permanent Residency Applications

Visa & Passport Applications & Renewals (USA, UK, Jamaica & Cayman)

British Registration

Right to be Caymanian

Naturalisation

Work Permits

Pension & Insurance Compliance

Outsource HR Management

Trade & Business Licensing

Company Incorporation

Annual Return Filing & Resolution

Notary Public Police & Traffic Clearance

Flight Itinerary, Booking & Reservations

Wagner Building, 296 Shedden Road, GT Tel: (345) 327 2321

Email: info@owcservicesltd.ky

Tel: (345) 945 8869

www.dcs.gov.ky/frc

If you are seeking free legal advice on issues such as domestic violence, divorce, immigration and more, the Family Resource Centre hosts The Legal Befrienders Clinic and phone line every Tuesday from 5pm-6.30pm. At the Clinic, qualified attorneys offer free legal advice on a walk-in, first come, first served basis. No appointments are necessary.

VISAS & PASSPORTS

Visas for Cayman

Nationals of the US, Canada, the UK and most countries within the British Commonwealth do not require visas to enter the Cayman Islands. Citizens of Jamaica (between the ages of 15 and 70), Honduras and the Philippines, for example, do. Check the ‘Visa’ section of www.cbc.gov.ky or www.caymanresident. com to see if you need one. If you hold a passport from Jamaica, India or China and you have a US, UK or Canadian Visa, you do not need a separate Cayman Visa. However, you must enter Cayman directly from the country where you hold the visa and can only stay in the Cayman Islands for 30 days. Where visas are required, they must be sought and obtained prior to travel. Contact the British Embassy or Consulate with a visa department that is nearest you. There is a dedicated visa office within the Customs and Border Control office. You can call the manager of that department on (345) 649 4579 or email: Emily.Hurlston@gov.ky. There is also one in Kingston, Jamaica. Tel: (876) 906 7866 or (876) 906 5336, or email: caymanvisa@ cwjamaica.com.

Visas for the US

If you are looking to travel to the US as a non-American passport holder with an EU member passport, you must register online at least three days before travel via the Electronic System for Travel Authorisation (ESTA). Once approved, you are allowed to travel to the US for up to two years without re-registering. The website is https://esta. cbp.dhs.gov/esta. However, the intention

of ESTA is for EU residents living in EU countries to use this system and not for EU residents living in the Cayman Islands. It is strongly advised that residents of the Cayman Islands obtain a US visa from the US Embassy in Kingston, Jamaica. Appointments can be made at https:// jm.usembassy.gov/services/. For questions or concerns about the non-immigrant visa process, email: KingstonNIV@ state.gov, and for questions pertaining to the immigrant visa process, email: KingstonIV@state.gov. Alternatively, you can email andrea@travelproscayman.com or call (345) 949 8182 and enquire about the service that Travel Pros offers whereby they will help you through the process of booking an interview at the Embassy, and then they check and submit all the required paperwork for you. They then organise a hotel and a driver for your stay in Kingston.

PASSPORTS

American Passports

The US Consular Agency has an office in the Smith Road Centre, Suite 202B, 150 Smith Road, George Town. They assist with US Notarial Services, performed for US citizens, plus they help with passport applications and renewals, and also ‘Consular Report of Birth Abroad’ certificates for children born in Cayman to American citizens. The first thing you need to do is email: CaymanACS@state. gov and then you will receive an automated response which includes up-to-date links to where you can start your application process. For those needing the ‘Consular Report of Birth Abroad’ certificate, the process is as follows. You will be added to a waiting list, and then officers from the US Embassy in Kingston will come over, check your documents and interview you. If you are a US citizen experiencing a serious emergency you can call Tanya Thompson on (345) 328 0033 or the US Embassy in Jamaica on (876) 702 6000.

British Passports

Application forms for British passports (renewals or new passports) need to be filled in online and then the required paperwork,

including your existing passport(s), must be couriered to Her Majesty’s Passport Office, OVS-D, Millburngate House, Millburngate, Durham DH97 1PA, England. Go to www.gov.uk/overseaspassports to get started. Payment must be made by debit or credit card online during the application process. Processing time is about four weeks.

Caymanian Passports

Caymanian passports (also called British Overseas Territories Citizen passports) are processed at the Passport and Corporate Services office in George Town and then sent to the UK passport office to be printed. The processing time for this is currently about six weeks. Application forms for a BOTC passport can be downloaded from www.gov.ky (see the ‘Passport & Corporate Services’ tab) along with the list of required documentation. Passports cost CI$75 for a child and CI$100 for an adult.

Temporary passports, which are only issued in the event of a medical air evacuation, are still produced in Cayman and can be turned around within a day for those who are eligible. The passport office is located on the 2nd floor of Sussex House, 128 Elgin Avenue and is open MondayFriday 9am-3pm. Tel: (345) 943 7678.

Canadian Passports

There is no Canadian Consulate in the Cayman Islands so people must now go through the High Commission of Canada in Kingston, Jamaica for consular services, general enquiries and for passport services. The usual process is that you apply online through the www.canada.ca website (search ‘how to apply for a passport when living abroad’), then you will be instructed to send your original documents to the High Commission of Canada to Jamaica, 3 West Kings House Road, Kingston 10, Jamaica, Tel: 1 (876) 926 1500, Email: kngtn-cs@ international.gc.ca.

For non-Canadians who wish to visit Canada, you will need to apply for an Electronic Travel Authorization (eTA) via the www.canada.ca website. It is very

straightforward, often gets approved in minutes, and all you need is your passport, a valid email address and a debit or credit card to pay the CAD$7 fee.

Other Consular Agencies

The Portfolio of Internal and External Affairs of the Cayman Islands Government and the Office of the Governor have assembled contact details for the consular representatives of other countries. Also see the ‘Passport and Visa’ section of www. caymanresident.com for details and a full updated list of consular agencies in the Cayman Islands.

TAX STATUS & DOMICILE

UK TAX STATUS & DOMICILE

If you were once a resident of the UK but are now a resident of Cayman, then knowing how many days you can visit the UK to see family and friends is very important. Generally, if you spend fewer than 16 days in the UK in a tax year, you will not be considered a UK resident. If you have not been a UK resident for three or more tax years, this is extended to 46 days. However, if you work full time in the UK, spend 183 days or more in the UK per year, have a home in the UK in which you spend 30 days in the tax year, plus you have no overseas home, then you can assume you are a UK resident.

There are also ties which, if combined with the number of days you spent in the UK in any given tax year, can determine whether or not you are a UK resident. These ties include family (i.e. a child in a boarding school), having a house in the UK, working in the UK and spending over 90 days in the UK. The number of ties you have dictates how many days you can safely stay in the UK before becoming a UK tax resident.

Your domicile, on the other hand, will determine if you are liable to pay UK Inheritance Tax (IHT). If you wish to avoid IHT on your worldwide assets, you must plan carefully and make positive steps to shed your UK domicile. There is no specific form to fill out to explain that

your domicile has changed; however, in your annual UK self-assessment tax return, there is a section which asks you to talk about your domicile. Note: When leaving the UK, you should either complete and submit form P85 ‘Leaving the UK – getting your tax right’ to HMRC or include details on your last self-assessment tax return. This form advises HMRC that you are leaving the UK and will help them decide if you will still be required to file a UK tax return as a non-resident. For formal or informal advice on UK tax status and domicile, including succession and estate planning for high-net-worth families and individuals, and tax residence and domicile reviews, you can contact Paul Hotchkiss from Hotchkiss Associates Limited. Tel: +44 (1624) 872140, or visit www. hotchkiss.im.

US TAXATION OF AMERICAN CITIZENS OR GREEN CARD HOLDERS MOVING TO THE CAYMAN ISLANDS

American citizens and green card holders are subject to US tax reporting requirements even when they are not living in the US. This can include both expats and lifelong residents of Cayman.

Many Americans living in Cayman can reduce or eliminate their US tax using the foreign earned income exclusion. In 2024, this means that up to US$126,500 of qualifying earned income (plus an additional amount for certain housing expenses in excess of US$36,000) can be excluded. Generally, you can qualify for this exclusion if you can show that you are a “bona fide resident” of the Cayman Islands (or another country) for at least a full calendar year and have Cayman as your ‘tax home’ – usually living and working in Cayman is enough for this purpose. Additionally, you can qualify by being physically present in Cayman for 330 days in a 12-month period (which does not necessarily need to be a calendar year) and having your tax home in Cayman.

Even if all your income is excluded and you owe no US tax, you are still required to file a tax return, declare your worldwide

income and elect to take the foreign earned income exclusion. Additionally, you are required to file information returns for your foreign bank and financial accounts (including your Cayman pension), as well as for any business entities and trusts formed in Cayman or other foreign countries.

Non-Compliance & Catching Up

Individuals who have not complied with US tax reporting requirements in past years are subject to penalties if their noncompliance is discovered by the IRS. Penalties can be in excess of US$25,000 per year in some cases, even when no tax is due. Some individuals may be able to take advantage of an IRS amnesty programme called the ‘Streamlined Filing Compliance Procedures’ if they can certify that their non-compliance was not wilful. This programme involves filing back tax returns, including information returns for business entities and trusts formed in Cayman or other foreign countries for the past three years, along with foreign bank and financial account reports for the past six years, and paying any taxes owed with interest. In many cases, a Streamlined Filing will result in no penalties imposed by the IRS. For formal advice, call:

Omni Cayman/John Wagner

Tel: (345) 547 4473

Email: john@omnicayman.com www.omnicayman.com

Omni Cayman in the Cayman Islands are Certified QuickBooks Pro Advisors offering professional outsourcing, including US tax filing, interim CFO, audit preparation, shareholder meeting preparations, and other accounting and consulting services. Omni has a team of qualified professionals with over 20 years’ experience coming from Cayman’s top firms, such as Deloitte, KPMG and BDO. For some clients, Omni Cayman is contracted to fulfil specific accounting roles, while for others, Omni serves as the client’s entire accounting department.

SEE AD PAGE 63

Retiring

in Cayman

For those contemplating retiring, growing old and spending their final days in Cayman, this chapter details the things you will need to think about. For those who have lost a loved one, it covers everything you might need to know about wills and probate, repatriation and the various burial options.

With beautiful beaches and year-round good weather, it is easy to see why Cayman is regarded as an ideal place to retire. Aside from the climate, what draws retirees to Cayman is that you can enjoy the ease of island life while still having access to world-class healthcare and remaining near the US. The retirement community in Cayman is thriving; the current figures show that the over-65s account for over 8.1% of the population and, as a result, activities and services for seniors are increasing. Whether you intend to get involved in the community or simply relax on the beach, the lifestyle in Cayman suits any retirement model.

RETIRING IN CAYMAN - WHAT TO CONSIDER

Health Insurance

Health insurance by an approved Cayman Islands health insurer is required by law for all residents of the Cayman Islands. However, there are very few options available to retirees arriving in Cayman. All the insurance companies offer the Standard Health Insurance Contract (SHIC plan). A few insurers have set monthly premiums regardless of age or health status, but many will rate for age and/ or health risks at installation and upon each annual renewal. The SHIC plans have fairly standard rates, which have remained steady for over 10 years, but each health insurer may charge up to double their standard rates for high-risk members and may also apply to the Health Insurance Commission to allow charging higher than twice the standard rates for higher-risk applicants. The standard cost for the SHIC plan for an individual is

Photos courtesy of Daria Keenan, Chuck Gloman, John Molyneux & Rebecca Davidson

US$198.51 per month. For a couple, it is US$443.58 and for a family it is US$605.61. If you would like to add comprehensive dental and vision coverage, it will cost an additional US$86.25 per month for dental and US$13.98 per month for vision per individual. That said, not all health insurance companies in Cayman offer the option of additional dental and vision under the SHIC plan; the majority only offer the medical benefit portion of the plan.

If you are a current Cayman resident reaching retirement age, you are encouraged to check your options for retiree coverage, either through your own or your spouse’s prior jobs and what individual coverage you may be able to transfer to. A few insurers offer more comprehensive individual plans, but those will all utilise risk-and-age-based premiums. Some retirees own their own companies, and they may be able to enrol themselves on their group plan, while some other retirees continue to work a parttime job to help maintain health insurance coverage.

Another option for retirees moving to Cayman is to keep their existing health insurance from overseas (for example, Cigna, BUPA or Medicare) and obtain a basic plan in Cayman to cover the legal requirements. Medicare will not cover Cayman services but can cover major expenses in the US. If on private insurance, be sure your overseas insurer is aware of your place of residence to avoid possibly having claims denied due to eligibility requirements not being met.

Married couple retirees who are enrolling on individual plans may wish to consider enrolling separately versus as a ‘primary insured with a spouse’ for a few reasons. Firstly, the age and/or health conditions of one spouse in the couple could attract higher rates for the couple overall. By enrolling separately, the healthier and/or younger spouse may attract more affordable rates than when the couple is enrolled together. Secondly, whilst not a pleasant thought, if the primary insured passes away, the surviving spouse is spared a lot of hassle

(and also the possibility of having a gap in coverage) if he or she already has the policy in their own name. If you do still decide to enrol as a couple, versus as two individuals, then consider having the younger person as the primary insured person to try and obtain a lower premium rate. For a list of health insurance providers and brokers, see the Health and Wellness chapter.

Medical Care in Cayman

Grand Cayman has three fully-equipped hospitals, easy access to internationally trained doctors and specialists, and some of the most advanced medical equipment in the world. If there was one place outside of the US where you could be guaranteed to receive first-rate medical care, you can be assured that Cayman is it. For more information on Cayman’s health system, see the Health and Wellness chapter.

End-of-Life Medical Laws

The Health Care Decisions Act (2022 Revision) addresses the problem that healthcare providers and families face when a patient is too ill to communicate their treatment preferences. The introduction of ‘Advance Health Care Directives’ by this law, commonly known as ‘Living Wills’, provides a legal framework to express your wishes regarding medical treatment while you are mentally competent. The Advance Health Care Directive is a document that sets out in writing which life-sustaining measures you would want to be applied to you under different circumstances, including a ‘Do Not Resuscitate’ order and the refusal of life support if you are in a vegetative state.

It is also possible to appoint one or more people as proxies to make medical decisions for you should you become mentally incapable. To be legally appointed as a proxy, you must be an adult and satisfy certain principles, such as being mentally competent. Should the proxy holder die or renounce their duty, and the patient is mentally incompetent, the patient’s doctor automatically

becomes the decision maker. It is highly recommended that you consult a lawyer to guide you through this process, given the potentially serious implications involved for your health and wellbeing.

The Health Care Decisions Act prohibits physician-assisted suicide and does not affect those who were in palliative care prior to the introduction of this law or the right of a person to receive palliative care.

The Human Tissue Transplant Act (2013) and the Human Tissue and Transplant Regulations (2018) came into effect in 2018. The law allows adults (18+) to register as organ donors. Persons under 18 years of age need parental consent to register and can only donate regenerative tissue (e.g. bone marrow). This law excludes the donation of foetal tissue, sperm or ova and prohibits the trading of human body parts. If you have not registered as a donor prior to your death, your organs/tissues cannot be donated once you are deceased.

In addition, a Human Tissue Transplant Council has been established to monitor compliance with the law and oversee the new donor registry. The registry has the potential to connect Cayman with the overseas organ donation network, whereby patients gain priority on other international registries. For more information on the healthcare system, see the Health and Wellness chapter.

Life Insurance

Prior to retirement, it is important to ensure you have adequate life insurance coverage. A good life insurance policy will protect your loved ones’ finances and ensure that an already difficult time isn’t made more so with the financial burden that could ensue from a loss of income. Life insurance policies are designed to pay out a cash sum to your loved ones if you die while covered by the policy. It can help them deal with everyday money worries, such as household bills, childcare, school fees or mortgage payments.

The amount of coverage you’ll receive

and the premium you’ll pay will depend on your individual circumstances and the kind of policy you choose. Your life insurance premiums will consider your medical history, age and lifestyle factors, and typically speaking, the younger and healthier you are, the cheaper your monthly bill will be. See below for life insurance providers. You can find more in the Settling In chapter.

Juliet Osbourne - Life Insurance

Tel: (345) 916 0500

Email: juliet@julietosbourne.com www.julietosbourne.com

Whether you need life insurance to cover your mortgage or protect your family and loved ones, Juliet can provide a policy to suit your lifestyle and budget. Juliet also offers annuities, critical illness policies, as well as other insurance products to safeguard you and your family’s future. Contact Juliet for a quote by phone or email.

Michael Webster - Life Agent

Tel: (345) 925 5433

Email: michael.webster@cic.com.ky www.lifeinsurance345.com

Michael Webster offers protection for both your mortgage and family. He offers term life, mortgage protection term life and whole life policies. For peace of mind, call for a free, no obligation quote. SEE AD PAGE 139

Sagicor Life of the Cayman Islands

198 North Church Street, George Town Tel: (345) 949 8211

Email: cy_infocayman@sagicor.com www.sagicorcayman.com

Sagicor helps you secure your financial future with savings, retirement planning, life insurance, mortgage protection, family protection and critical illness coverage. Sagicor is the only company in Cayman authorised by the Superintendent of Pensions to allow individuals to purchase an annuity plan using their pension fund at retirement age. Speak to an advisor about the best ways to protect yourself and your family.

SEE AD PAGE 47, 107& 140

Immigration Considerations

The Cayman Islands welcomes wealthy retirees as long as they have enough money to buy a house and support themselves in old age. Without a regular tax base, the Cayman Islands Government is not able to support an ageing population. If you are the dependant/spouse of a Permanent Resident and they die before you do, the right of the surviving spouse to reside in the Islands may be revoked at the discretion of the Director of Workforce Opportunities & Residency Cayman. The surviving spouse may, within three months, apply for the Grant of Residency Certificate for Persons of Independent Means upon satisfying the requirements. See page 92 for more information.

Senior & Retirement Homes

The Pines Retirement Home

60 Pines Drive, George Town Tel: (345) 949 5650

Email: info@thepinescayman.com www.thepinescayman.com

The Pines Retirement Home is a non-profit organisation established to provide residential accommodation to meet the needs of elderly citizens during their retirement. Over time, the emphasis has moved to the provision of care provided by Registered Nurses in response to the needs of the community. There are 48 beds consisting of private rooms, double rooms, and wards. The cost is CI$3,410 per month for regular care residents, CI$7,150 per month for heavy care residents, CI$3,960 per month for private rooms, and CI$150 per night for respite care. These rates include three meals per day and snacks, as well as varying levels of assistance with activities for daily living, housekeeping, outings and more. Daycare is provided Monday to Friday from 8.30am5.30pm for a rate of CI$50 per day. This allows seniors to spend their day at The Pines, participating in numerous activities. The home is open to all citizens of the Cayman Islands.

Poor Relief Payments

For those too elderly to work, who are over the age of 60 and are in great need, the Needs Assessment Unit (NAU) currently

offers a monthly stipend of CI$950. A full assessment needs to be undertaken and then the level of assistance required is investigated. This is only open to Caymanians. The NAU is located at 555 Seafarers Way, George Town. Tel: (345) 946 0024.

In-Home Healthcare

Caring Hands Cayman

Tel: (345) 943 1177

Email: support@caringhandscayman.com www.caringhandscayman.com

Caring Hands Cayman, a professional in-home healthcare provider, is dedicated to enhancing the quality of life, dignity and independence of Cayman’s elderly residents, the sick, or those incapacitated and in need of nursing care at home, whether they are residents or visitors.

Hospice & Palliative Care

For many years, people living in Cayman have been very fortunate to have access to free palliative and hospice care at Jasmine. The charity provides care to improve the quality of life for people living with a serious illness and support for their loved ones. Palliative care can be useful throughout any serious, long-term illness and can be provided alongside treatment, not just at end-of-life. Care can be provided at a patient’s home, at one of Jasmine’s outpatient clinics, or at Jasmine’s purposebuilt facility, depending on the needs and wishes of patients and their families. Anyone interested in accessing Jasmine’s support can self-refer by contacting Jasmine or visiting one of Jasmine’s weekly clinics at HSA and Health City.

Jasmine

31 Jasmine Blossom Way, West Bay Road

Tel: (345) 945 7447

Email: info@jasmine.ky www.jasmine.ky

Jasmine is a non-profit organisation committed to providing free palliative and hospice care to anyone in the Cayman Islands facing a serious illness. Their specialist nurses and caregivers can assist patients at any stage of a diagnosis, collaborating with primary care physicians

Have

you been

diagnosed with a serious illness?

Jasmine can help.

No matter where you are on your journey following a serious diagnosis, our expert team is dedicated to your care and well-being.

Jasmine will work alongside your primary physician to develop bespoke care plans, help manage your symptoms, and provide emotional support for you and your family.

We can assist with any serious, long-term illness, including lung disease, heart failure, neurological diseases, and more.

All our services are 100% free of charge.

Contact us to find out how palliative care can improve your quality of life.

jasmine.ky | 945-7447 | info@jasmine.ky | | |

This ad was generously sponsored by an anonymous donor.

to offer symptom management, emotional support, patient advocacy, and bereavement support. Jasmine relies on the generosity of the community for over 90% of its funding.

Wills & Probate

There is no inheritance tax in the Cayman Islands. Cayman Islands law allows for complete freedom of disposition, meaning that you can dispose of your Cayman assets on your death as you please, subject only to the law of your domicile. It is extremely difficult to contest an otherwise valid Cayman Islands Will, and so it is recommended that you have an understanding of the probate process and an up-to-date Will.

Post-death, the law requires a grant of probate or letters of administration to be obtained from the Grand Court of the Cayman Islands to enable personal representatives (usually those persons nominated as executors in the Will) to administer the deceased’s Cayman Islands estate. Court fees of around CI$250 are payable to the Cayman Court, excluding legal fees (if applicable) to prepare the application. The application for probate must be filed within six months of the date of death, otherwise an additional application has to be made to the Grand Court for special leave. When probate or letters of administration are granted, it empowers the personal representatives to deal with the deceased’s Cayman Islands assets. It is advisable to obtain multiple copies of the grant of probate or letters of administration if there are multiple assets to administer.

It is important to note that under the Succession Act (2021 Revision), executors are only entitled to very modest remuneration. However, the Will may allow more generous remuneration.

The Formal Validity of Wills (Persons Dying Abroad) Act (2018) prescribes that a Cayman Islands Will is considered valid if it conforms with foreign or Cayman Islands execution formalities. This law also applies to Wills created before this law came into

force in 2018.

The Succession Act (2021 Revision) and the Wills Act (2018) have introduced provisions for civil partners to be considered equal to married persons as a matter of Cayman Islands law.

Foreign probates or letters of administration (with certificated translations, if necessary) can be resealed by the Cayman Probate Court, at which point such resealed foreign legal documents will be effective in administering any Cayman Islands assets.

Dying intestate (i.e. without making a Will) can sometimes make matters more complicated. If a Cayman-domiciled person dies intestate, a closely connected person, such as a surviving spouse or surviving adult child, must apply to the Grand Court for letters of administration. Once obtained, this legal document empowers them to deal with the deceased’s assets in accordance with the Succession Act. Many people attempt to take on the responsibility of acting as a representative of an intestate estate and then immediately find themselves overwhelmed. In order to navigate this complicated process, it is advisable to seek advice from a duly qualified attorney-at-law. The benefit of having a local representative who is familiar with the Cayman Islands legal system cannot be overstated. Their familiarity with the rules could save your estate from significant expense, not to mention alleviate the stress placed on bereaved loved ones who may otherwise find themselves having to negotiate the requirements of a country that they may not be familiar with.

Drafting a Will

Although anyone can draft their own Will, there are certain legal requirements that must be met in order for it to be valid. Take advice from an attorney to make sure your Will:

> Is unambiguous

> Clearly sets out your wishes

> Meets legal requirements. Attorneys can also provide additional services, such as the retention of your Will.

Letters of Wishes

A letter of wishes often accompanies a Will, setting out additional, non-binding requests. Such letters can be a great comfort to family members who find themselves unsure about where to begin when dealing with their final wishes.

Simple instructions include where your life insurance policies, annuities and pension plans are held. Also included are your bank account details, your electricity, water, internet account numbers, your computer password, a list of your fixed assets, your digital assets, the names of your attorney, accountant and doctor, and generally all those items that only an individual may know. Setting this out in a letter of wishes will save your representative hours of digging through papers and making telephone calls trying to determine where your assets are held. Giving precise details can save your estate from potential losses due to unidentified assets. Your attorney will ask you to provide the following information:

Family Information

> What is your full name, date of birth and home address? What is the full name of your spouse, their date of birth and address? What are the full names, dates of birth and current ages of your children? Were there any previous marriages? If so, were there any children from that previous marriage? What are their names and ages?

Key Roles in Your Will

> Names and addresses of your proposed executors: maybe a trusted friend as one and a trusted family member as the other. You need to explain your relationship to these people.

> Name and address of guardians to your children, although this is only relevant if your children are young.

Gifts

> Pecuniary bequests – These are legacies of cash that you may want to leave to someone.

> Legacies of property – You will need to

identify the specific item/property that you want to leave to someone.

> Beneficiaries of the rest of your estate –This is whatever is remaining in your estate and can be given to one person, or it can be divided between several people.

> Substitute beneficiaries of your estate – In this section, you need to name a substitute to inherit your estate should the named beneficiaries die before the estate can be given to them.

> Age of inheritance – You will be asked if you want to specify an age when your beneficiaries inherit the residue of your estate. This is only relevant if your beneficiaries are very young at the time of you writing your Will.

> ‘Worst case scenario’ gift – You need to name a charity, family member or friend who will inherit your estate if everyone you have named in your Will dies and cannot inherit it.

Assets & Liabilities List

The final portion of the Will requires you to list your assets, liabilities (mortgages and outstanding debts), as well as any life insurance policies you may have and the details of your pension plan. A law firm can assist you in writing a Will and your Letter of Wishes, or advise you on probate. Please refer to the Running a Business chapter for a list of law firms that will be able to help.

Inheritance Tax & Domicile

For foreign residents, inheritance tax may still be due in their country of domicile. Your lawyer will be able to determine whether you are domiciled in Cayman or advise you on how to change your domicile to Cayman. Purchasing a grave plot in Cayman and insurance that pays for your remains to be repatriated to Cayman are two ways to prove your domicile is in Cayman. For information, see the Immigration chapter.

Law Firms with Family Practices

Cayman Family Law

Zephyr House, Ground Floor, 122 Mary St., GT

Tel: (345) 746 5290

Email: info@caymanfamilylaw.com www.caymanfamilylaw.com

Cayman Family Law is a boutique law firm specialising exclusively in family law, including advice and assistance on Wills and probate matters. They can also provide advice on the preparation of lasting powers of attorney and obtaining Guardianship orders.

Hampson and Company

4th Fl, Apollo House East, 87 Mary Street, GT

Tel: (345) 623 7788

Email: info@hampsonandco.com

www.hampsonandco.com

Hampson and Company offers experienced and comprehensive advice on family law, including advice on Wills and probate – both local and international – real estate and settling in the Cayman Islands. SEE AD PAGE 59, 161 & 225

HSM

68 Fort Street, George Town

Tel: (345) 949 4766

Email: info@hsmoffice.com

www.hsmoffice.com

As a full-service law firm, HSM lawyers provide guidance on the preparation of Wills; the obtaining of grants of probate or letters of administration; and the re-sealing of foreign probate matters. They represent clients in connection with non-contentious and contentious trust and estate disputes. The HSM Group specialises in Litigation, restructuring, insolvency, private client, immigration, employment, corporate and commercial, family law, property, intellectual property and debt solutions. SEE AD PAGE 57, 89, 162 & 164

Ogier

4th Floor, 89 Nexus Way, Camana Bay Tel: (345) 949 9876

Email: cayman@ogier.com www.ogier.com

Ogier is a professional services firm comprised of three divisions: legal, corporate and fiduciary, and consulting. Present in the Cayman Islands for over 30 years, the firm’s legal team provides practical advice on a unique combination of BVI, Cayman, Guernsey, Irish, Jersey and Luxembourg law. Ogier in Cayman provides a full range of services across a wide array of specialisms, including estate planning, wills and probate. Their global team can assist local and international clients with Will drafting, estate planning, probate applications, estate administration and executorship, inheritance advice and mental capacity.

Stuarts Humphries

Kensington House, 69 Dr Roy’s Drive, GT Tel: (345) 949 3344

Email: buck.grizzel@stuartslaw.com www.stuartslaw.com

Comprehensive Wills and probate services for residents of the Cayman Islands and nonresidents who have assets in the Cayman Islands, such as real estate, shares in companies or bank accounts.

SEE AD PAGE 66

Travers Thorp Alberga

2nd Floor, Harbour Place, 103 South Church Street, George Town

Tel: (345) 949 0699

Email: info@traversthorpalberga.com

www.traversthorpalberga.com

Travers Thorp Alberga has an experienced succession and estate department focusing on all types of estate planning, inclusive of trusts, Wills and probate proceedings, both local, international and multijurisdictional.

SEE AD PAGE 223

END OF LIFE IN CAYMAN

When a person dies, the next of kin is left with a number of decisions and arrangements to make. Fortunately, undertakers are there to help guide family and loved ones through the process. The main decision to be made is whether the body is to be buried, cremated or repatriated. Funeral homes help in all three scenarios. There are two funeral homes in the Cayman Islands: Bodden Funeral Services and Churchill’s Funeral Home. Both provide the same range of services and similar funeral packages, although Bodden Funeral Services has the only crematorium in the Cayman Islands.

Overview of the Process

If a person dies of natural causes – that is, the death is not sudden, violent or suspicious – the process is as follows:

> If that person has been under the direct care of Jasmine, the deceased is taken to a hospital where an examination is carried out, the person is pronounced dead, and the body is then moved to a funeral home.

> If the deceased has not been under the care of Jasmine, the next of kin must first contact the hospital. The body must then be taken to the hospital, where a medical practitioner determines whether further investigation is required.

> Meanwhile, the undertaker will collect the necessary information and complete the paperwork for the death certificate. This is then presented to Medical Records, where the attending physician verifies the information, fills in their portion and sends it to the General Registry. When the death certificate is ready, the body is released to the funeral home for burial, cremation or repatriation. Additional death certificates

can be ordered online on the Cayman Islands General Registry website (www.vitals. ky) or at the Government Administration building for a fee of CI$10 per copy.

Burial

If the deceased’s wishes were to be buried, the next of kin must decide, with the help of the undertaker, on a casket, clothing for the deceased, whether to hold a service and, if so, what type of service

The average funeral package is CI$3,500 and these costs should include everything other than flowers, announcements and the funeral programme.

When calling the funeral homes, ask these questions:

> Do they charge a storage/cooler fee to keep the body for the days before the funeral? If so, how much is it per day? It can take time for loved ones to get to Cayman and a funeral can often be delayed for one to three weeks. A cooler fee can easily add CI$1,000 to the cost of the funeral package.

> How often can you view your loved one and is there a fee to view the body?

> What make and material is the casket that is included in the basic package? Upgrading to a different casket can add upwards of CI$500 to your bill.

> Ask what the basic package includes. It usually includes: transfer of the body to the funeral home, cool-storage of the body in their facility, all clerical paperwork, embalming (required for repatriation), dressing, restoration, hair and make-up, coffin, viewing at the funeral home, staff for the service, transportation, hearse for the coffin, free bus for the family to the gravesite, gravesite equipment (chairs, tent, drinking water and coffin lowering device), vault sealing, guest books, one newspaper announcement and four radio ads. It would not include flowers, additional announcements or the funeral programme.

> If the deceased is a civil servant, died in a tragic accident, or is under the age of 18, then ask if the funeral home will offer you a discount.

Burial Assistance

For those in need, the Needs Assessment Unit (NAU) can provide financial support to bury loved ones. They can give families a maximum of CI$3,500 towards a low-cost funeral package that is offered by the funeral homes to clients of the NAU. The NAU may also be able to provide up to CI$1,200 towards the cost of a vault. You will need to visit the NAU office, fill in the required forms and wait to be assessed by one of the officers. They are located at 55 South Church Street, George Town. Tel: (345) 946 0024 or visit www.nau.gov.ky.

Pre-planning Funerals

In most countries, it is not uncommon for people to pre-plan their own funeral and then leave this plan on file with their chosen funeral home. You can also buy a government or a private burial plot in advance and let the funeral home know the details. Leaving a plan for your funeral can take a huge weight off your family. You can also pay for the funeral costs in advance and the funeral home will freeze the cost no matter how much time passes before your family needs to access your file with the funeral home.

Cemeteries Management

As a full-service law firm we draft trusts and wills as well as set up foundation companies and family offices for both residents and non-residents of the Cayman Islands. We are able to assist those who have assets in the Islands whether real estate, shares in a Cayman company or bank accounts. We represent clients in connection with trust and estate disputes as well as provide guidance and advice on legal issues arising from trust and estate administration matters.

The vast majority of cemeteries on all three Islands are either privately owned family plots or Government owned, but there is a private cemetery in Red Bay where anyone can buy a burial plot. Public/government owned cemeteries are managed by the Department of Environmental Health (DEH), which is responsible for the allocation of land for burial and the design and construction of burial vaults. However, the maintenance of the grounds and landscaping is carried out by the Recreations, Parks & Cemeteries Unit. Public burial plots and vaults can be bought at the Department of Environmental Health office (Tel: (345) 949 6696 or email: dehcustomerservice@gov.ky) for a fee of CI$1,200 for adults and CI$600 for children, only after an individual has died. Family plots cannot be purchased in advance at public cemeteries because most sites are full and it will be hard to obtain a plot next to your loved ones. Private cemeteries on-Island are still monitored by the Department of Environmental Health to ensure that the vaults are constructed to DEH specifications. However, these are not available for public purchase as most of them are on family-owned land that is used as a grave site for that family only. The Garden of Reflection on Prospect Point Road is a private cemetery in Red Bay that has grave plots available for the public to purchase. This cemetery currently has 350 available plots (as of July 2024). Grave plots can be purchased for CI$4,249CI$7,500 and the cost includes landscape maintenance. The plots are sold and managed by Crighton Properties, and the company maintains accurate records to ensure that reserved grave plots are not built upon. You can contact Crighton Properties on (345) 949 5250 or email: dalec@crightonproperties.com, or through

• Wills • Trusts • Probate • Family Offices • Estate Administration

Chambers +1 345 815 7426 hbrooks@hsmoffice.com

your undertaker. Grave vault construction must be arranged by the family and local contractors charge between CI$3,200 and CI$3,600 to build a concrete vault. The size of a single plot is 4ft x 8ft and there is a 5% discount if the family buys more than four plots.

List of Public Cemeteries:

West Bay - By the Fire Station and North West Point (both cemeteries are closed: all vaults are sold), Boatswain Bay and Batabano on Batabano Road.

George Town - Dixie, Spotts (closed: all vaults are sold) and Prospect.

Bodden Town - “Old” Bodden Town across from the Bodden Town Clinic (closed: all vaults are sold) and ‘New’ Bodden Town located on the same side of the road as the Bodden Town Police Station, going East.

East End - East End and Gun Bay.

North Side - North Side and Old Man Bay.

Cremation

If the deceased is to be cremated, the main decision for the next of kin will be the type of service they want, either one with the body present, followed by a cremation, or a memorial-type service, where there is no body. Cremation packages range from CI$2,000 to CI$3,000.

Burial at Sea

With Cayman’s well-known seafaring history, sea burials are an option worth considering in the Cayman Islands. They are a natural and sustainable alternative to traditional burials. To obtain permission for a sea burial, you must submit a copy of the death certificate, a certificate of non-communicable disease and the Burial Order to the Department of Environmental Health (DEH). Once this has been confirmed, the body must be prepared for a sea burial by a licensed mortician and the casket must adhere to a specific set of guidelines that can be found on the DEH website (www.deh. gov.ky). The burial must take place at least five nautical miles from shore, at a minimum depth of 700ft, and outside

of traditional fishing grounds. Although this is not a common option, the team at Bodden Funeral Services (Tel: (345) 949 7464) has experience with sea burials and can assist you if this is a route you would like to take. If you would like to scatter your ashes at sea, the only requirement is that you do so at least three nautical miles from the shoreline.

Repatriation

For expat workers, repatriation is often the preferred choice. The next of kin will need to decide whether to repatriate the body in a casket or whether to send it as freight, which is more cost-effective. The paperwork varies considerably depending on the country the body is to be repatriated to. Repatriation to the US, Canada or the UK is quite straightforward, whereas repatriation to Cuba and the Philippines is much more complex, so the administrative costs are higher.

Funeral homes, such as Bodden Funeral Services and Churchill’s Funeral Home, will take care of all the paperwork and arrangements, including the embalming, which is required for the deceased to be shipped overseas. The basic cost is CI$2,500, plus airfare and paperwork costs.

Importing a Body/Ashes to Cayman

In the event that the death occurs abroad, you must receive permission from the DEH to bring a body/ashes to Cayman. You will need to complete the ‘Importation of Human Remains Request Form’ available at www.gov.ky/deh and submit to DEHcustomerservice@gov.ky with all the document and information required. There is an admin fee of CI$25 for local requests. If you are sending an international bank draft, the fee is US$100 (due to CI Government treasury policy, the department cannot accept international bank drafts under US$100). Requests must be made at least 48 hours prior to the body/ashes arriving in the Cayman Islands. If granted, you will receive a letter of approval that must be presented to

Customs upon the body/ashes’ arrival.

Funeral Planning

Needless to say, arranging a funeral or memorial is a distressing affair, but funeral homes do all they can to ease the stress and make the process as straightforward as possible.

Funeral homes offer a pre-planning service, so that if a person is in the end stages of life, their family and next of kin have the option to talk with undertakers and make key decisions and plans ahead of time.

It is also worth noting that one can take out Final Expense Insurance Coverage, which, depending on the policy, will cover some or all of the funeral costs.

Funeral Homes

There is no set time frame within which burials, cremations or repatriations must occur and, barring any unforeseen complications, these can usually take place as little as two to three days after death.

Bodden Funeral Services

117 Walkers Road, George Town

Tel: (345) 949 7464

Email: sruby@boddenholdings.com www.boddenfuneralservices.com

Bodden Funeral Services has been serving grieving families in the Cayman Islands with respect, dignity and compassion for over 60 years. With great attention to detail, care and guidance, they offer burial or repatriation and are the only option for on-Island cremation services. Their undertaker is available 24 hours a day to assist your family in times of need.

Churchill’s Funeral Home

328 Eastern Avenue, George Town

Tel: (345) 943 4663

www.churchillsfuneralhome.com

The professional staff are committed to providing dignified, respectful, and compassionate assistance to every family.

THE

Tell them you saw it in the

MOVING TO CAYMAN

Moving to Cayman will probably be a very exciting and significant milestone in your life, but there are a lot of details to consider before you arrive on the Island, move into your new home, unpack, start your job and then finally put your feet in the sand.

Gateways to Cayman

The Cayman Islands’ largest airport, the Owen Roberts International Airport (ORIA), is located in George Town, Grand Cayman and serves up to 1.5 million passengers annually. In the last ten years, the airport has undergone CI$45.7 million worth of improvements, which included the expansion of the terminal and significant upgrades to the runway. Originally designed to handle 500,000 passengers, the airport is now able to accommodate up to 2.7 million passengers per year. An Airport Master Plan was announced in May 2023 which includes extending the ORIA runway into the North Sound by 1,900 feet at a cost of CI$28 million, improving the air traffic control surveillance, and building a new general aviation facility. It is expected that following the extension of the runway, ‘Code E’ planes, which include the Boeing 777 and 787, and the A350 Airbus will be able to land fully loaded.

The national flag carrier of the Cayman Islands is Cayman Airways and the main gateway to Cayman is Miami. On various airlines there are daily flights between Grand Cayman and Miami, and weekly or seasonal flights to Charlotte, Chicago, Denver, Havana, Kingston and Montego Bay in Jamaica, La Ceiba in Honduras, London, Los Angeles, Minneapolis, Nassau, Orlando, Tampa, Toronto, Panama and New York. There are also daily flights between Grand Cayman, Cayman Brac and Little Cayman. Other airlines that service Cayman are Air Canada, American Airlines, British Airways, Delta, JetBlue, Southwest, United Airlines and WestJet.

Preparing

to Move

Everything you need to know about the process of moving: things to consider before signing a contract, what to and what not to bring, duties and fees, the cost of living and shipping considerations.

Cost of Flights

The

of a return ticket from

and how far in advance you book

Flying Time to Cayman

Photos courtesy of Rebecca Davidson, Carlos Yudica & Aris Suwanmalee

The flight from London is 10 hours (plus 60 minutes on the tarmac in Nassau). Flying time from Toronto and New York is 4 hours. Cayman Airways’ flight from Los Angeles to Grand Cayman takes 5.5 hours.

Special Services

To ensure a stress-free arrival to and departure from the Island, there are a few reliable companies that offer special services to help you. Taxis are readily available on arrival at the airport, and you can find out more information on fares in the Transportation chapter.

Island Air

Tel: (345) 949 5252

An aviation service for private and chartered aircraft, including ground handling and a refuelling service.

Websters Tours

Tel: (345) 945 1433 or www.websters.ky

Offers full airport arrival and departure services as well as on-Island transfers and Island tours.

Relocation Services

It is often useful to enlist the help of a relocation consultant. ‘Destination Services’, as they have come to be known, offer private and corporate clients unbiased assistance and invaluable insight into island life.

Blue Point Consultants Ltd.

Tel: (345) 525 0706

Email: info@bluepointproperty.com www.bluepointproperty.com

Offers an employee relocation programme that focuses on finding a suitable property for new residents, whether it be for a rental or purchase. Their services extend to advice on value, market rental value, fit-out/refurbishment costs, investment value and finding the best fit for the individual. The professionals at Blue Point have over 25 years of experience living and working in Cayman and are fully qualified RICS surveyors, so they can offer experienced and professional advice on all property and relocation matters.

SEE AD PAGE 168

Mosaic Cayman

Tel: (345) 928 7940

Email: relocation@mosaiccayman.com www.mosaiccayman.com

Their experienced staff provides personal and tailored assistance for individuals and families relocating to and from the Cayman Islands. Relocation packages include prearrival consultations, extensive home services, schooling and vehicle solutions, pet relocation, shipping services and more.

SEE AD OPPOSITE PAGE

Navigate Cayman Islands

Tel: (345) 916 2362 or (345) 917 0414

Email: info@navigate.ky

www.navigate.ky

Navigate offers complete relocation services to individuals, families and corporations moving to the Cayman Islands. They will provide all the relevant help to get you settled. Services include immigration, property research, business services, including staff relocation and financial services, and lifestyle help such as finding schools, healthcare, event planning and much more. With over 30 years of experience living and working in the Cayman Islands, Navigate’s founders are best placed to make your move as seamless and successful as possible. SEE AD THIS PAGE

NCI Freight & Logistics

265 Smith Road, Palm Grove Building, GT

Tel: (345) 943 4624

Email: info@nci.ky www.nci.ky

NCI relocation services can handle your entire process of moving to the Cayman Islands. Whether an individual, couple or family, their services are tailored to each client’s needs. Their services include packing, shipping, immigration, housing, childcare, schooling, unpacking and in-home setup. Their relocation specialists also offer a ‘Know the Island’ concierge service whereby they can provide new arrivals with indepth Island knowledge, including information on social clubs, doctors, fitness, local shopping and other important elements to help individuals get settled in the Cayman Islands.

SEE AD PAGE 117 & 274

Time Zones

While the US employs daylight savings, the Cayman Islands, being nearer to the equator, has relatively equal periods of day and night year-round. There’s only about an hour difference in daylight between 20th June and 20th December, so Cayman keeps the same time all year (-5 hours Coordinated Universal Time).

This means the Islands share Eastern Standard Time (EST = -5 UTC) with Miami and New York from November to March. However, when the US switches to daylight savings time in March, Cayman then shares Central Daylight Time (CDT = -6 UTC) with Chicago and Houston.

Before Signing Your Contract

When planning your move to the Cayman Islands, you will need to know what to expect in terms of the cost and standard of living, as they may be very different from what you’re used to. Bear in mind that the cost of living in Cayman is high (see the ‘Cost of Living’ tables). Unless you are moving from an expensive city, such as London or New York, you may discover that everything from groceries and electricity bills to maintaining a car and schooling your children will cost significantly more.

The process of moving can be very costly. Before signing, find out what your employer will do to absorb or mitigate certain costs. Here are some questions that you may want to ask your new employer and some points to consider, before you accept a job offer:

1) Cost of Shipping Will the company contribute towards transporting your personal items to Cayman?

2) Accommodation & Renting a Car Will the company provide you with a place to live and a rental car for your first month on the Island? See the Finding a Home chapter for temporary accommodation options.

3) Cost of Setting Up Your Life in Cayman It is worth being completely aware of the costs of setting up a home in Cayman. For example, you will have to buy a car and a year’s worth of car insurance, and pay

deposits on a house or apartment, which includes deposits on electricity, water and telephone set up. You will have to take a driving theory test (even if you already have a driver’s licence from another country) and pay for a driver’s licence. For a couple without children, we estimate the set-up cost to be just under CI$12,000. However, for a couple with children, we estimate it to be closer to CI$25,000 or even more if you don’t want the most basic of second-hand cars.

4) The Cost of Living This will invariably depend on your standard of living, but we advise that you design a budget before taking the leap to Cayman. Things to take into consideration are your salary, minus 5% pension and your portion of health insurance. Then factor in accommodation, utility bills (water, electricity, phone, TV, internet), running a car (gas, registration, licence and insurance), groceries, school fees, entertainment, activities, clothes, flights off the Island, savings, etc.

5) The Currency of Your Salary What

currency will your salary be paid in? If you will be paid in US dollars, is it at the going rate? For example, you might think US$60,000 is a fair salary for a qualified accountant, but it is only CI$49,200 (when using the bank exchange rate of .82) and the cost of living is greater here than in the US. Be aware that you will pay for almost everything in CI dollars, so if you are paid in US dollars, you are better off taking the money you need out of the bank in CI dollars rather than paying for something at a store with US cash at a conversion rate of .80. On a salary of US$60,000 per year, you will save around CI$1,200 a year by doing this.

6) Health Insurance This is compulsory and it is essential that you ask whether your company will be covering more than 50% of the basic plan single rate as required by law. Premium health insurance coverage for an individual member may cost CI$500-CI$1,300+ per month, double that for a couple and triple that for a family. Though the law states you are required to

Cost of Living in the Cayman Islands

Grocery Costs

Laundry Detergent (Tide 46oz)

Milk (IGA Whole 1 gallon)

(Organic whole,

Shower Gel (Dove 12oz)

Sirloin Steak (Per lb)

Still Water (1

have at least the basic plan, the premium plan should be considered for better coverage. Some employers will pay at least 50% of a premium plan, including some or all of the insurance cost of your family. However, you will usually have a monthly deduction of between CI$500 and upwards to CI$2,000+ per month (if you are on a premium family plan and carry most of the premium costs).

7) Vacation Time How many weeks of annual holiday does your contract provide for? There is a disparity in Cayman between companies that offer only the US system of 10 working days per year and others that offer 4-6 weeks. Be sure to ask!

8) Can Your Children Join You? Unless you are guaranteed to earn a minimum of CI$3,500 per month, you will not be allowed to have your children join you in Cayman. See the Immigration chapter for more information.

9) Divorce If you get divorced during the tenure of your stay, the non-working ex-spouse will have to leave the Island or obtain a work permit, regardless of whether you have children. Your children can stay if they are listed as dependants on your work permit. See the Family Matters chapter for more information.

Cayman Currency

The Cayman Islands Dollar (CI$/KYD) is pegged to the US Dollar and does not fluctuate. The exchange rate is CI$1= US$1.20. The cash exchange rate is CI$1 =US$1.25, which means that US$20 cash is worth CI$16. US Dollars are accepted everywhere. Credit and debit cards are widely accepted and there are many ATMs throughout the Island. Currency denominations are CI$1, 5, 10, 25, 50 and 100 dollar bills.

Weights, Measures & Temperature Cayman uses the US system of miles for distances, miles per hour for speed, inches for length and pounds for measuring weight. Petrol is sold by the imperial gallon. For temperature, Fahrenheit (°F) is used and not Centigrade (°C).

When it comes to moving to the Cayman Islands, you have three options. The first option is to do 98% of the work yourself by packing up your belongings and arranging for a company to ship your personal items to Cayman. This may be the least expensive option, but it certainly isn’t the easiest. You must be prepared to arrange for the items to be inspected and cleared by customs when they arrive in Grand

Cayman, pay the Port Authority and have your items picked up and delivered to your new home.

The second option is to pack everything yourself and have a freight forwarder organise the collection, shipping and customs clearance on arrival.

The third option is to arrange for a moving company to do everything for you, from packing up your home, trucking your belongings to the port and organising the shipping to clearing it through customs in

We can accommodate the needs of every customer, large or small.

• Twice weekly sailings from PEV to GCM

• Dry and refrigerated cargo

• LCL (less than container load) & FCL (full container load)

• Consolidations

• Boats/Automobiles

• Heavy equipment

• Pallets, boxes and crates

Cayman, arranging for delivery to your new home and unpacking and setting up.

If you decide to use a moving company, you will need to book it at least 8-10 weeks in advance. It’s prudent to find out if they are an accredited member of a moving association to ensure that you will have recourse if you encounter any problems.

Sort through your personal items and decide what you are going to take, then call the moving company so they can visit your home and work out a quote. Be sure to get any quote in writing, but keep in mind that most expire after 30 days.

Next, establish a time frame for your move and confirm that the insurance policy being offered has sufficient protection to cover the cargo for the duration of the journey, i.e. until you take possession at the new destination. You should also discuss the deductible. Ask your mover to provide a copy of the documents with the itinerary, along with an itemised inventory and the name of the receiving agent.

Finally, the moving company will expect payment prior to exporting or shipping your personal effects as it will be necessary for them to prepay the freight and any other handling and destination charges.

Listed next are some locally based shipping companies, freight forwarders and moving companies who, to one degree or another, can help you move your home or business effects to or from Cayman. Their standard of service is very high.

International Packers & Movers

The companies listed on the following pages offer a full international moving service that takes all the stress out of moving. They will organise the whole process for you, from professionally packing up your house and organising for your belongings to be shipped to Cayman by sorting out the relevant paperwork, paying the Port Authority and any duty, and finally, delivering the goods to your new home in the Cayman Islands. It helps make what may feel like an overwhelming process, a breeze!

Miracle Brokers

140 Kingbird Drive, George Town

Tel: (345) 949 5989

Email: info@miraclebrokers.com

StaMar Enterprises Ltd.

The Conch Shell House, 492 North Sound Road

Tel: (345) 949 2399

Email: info@stamar.ky www.stamar.ky

SEE AD PAGE 119 & 275

Cayman & Miami-Based Freight Forwarders

Freight forwarders facilitate the entire shipping process between Miami and Grand Cayman and vice-versa. When shipping to or from Miami, there are three options to consider, depending on the quantity/volume. All companies charge by cubic feet, rather than by weight.

Firstly, you can book by the container load. Secondly, your belongings can be consolidated with other packages in what’s known as ‘Less than Container Load’ (LCL), and thirdly, there is the small packages service, which is particularly useful if you’re buying items online from vendors that won’t ship to Cayman. If you need this service, you will be provided with a postal address in Miami for your package to be delivered to. It will then be shipped to Cayman. For all three services, the freight forwarder will organise all the paperwork and clear the goods through customs.

The following companies offer this type of freight service. Note: You should contact the office in your country of origin to start the process.

Cayman Islands Customs Agency (CICA)

Tel: (345) 949 2350

Email: support@cicustomsagency.ky

Web: www.cicustomsagency.ky

CICA is a customs broker with more than 30 years of experience in logistics, clearance and the handling of all types of imported goods, including personal effects. CICA offers their own secure facility to receive and process your belongings and goods, and even free storage during the Customs inspection phase. With CICA, getting

your new home ready is easy with twice weekly consolidated shipments, expedited air service and great small package rates. You can ship furniture, electronics, home and office supplies, and even a new vehicle. CICA can assist you with bringing them into the Cayman Islands, from any forwarder, in any country. Contact CICA to set up an account and start shopping.

CICA preferred US forwarder: Deluxe Freight 11401 NW 107th Street, Miami, Fl 33178

Tel: 1 (305) 513 0156 or (345) 949 2350

Email: sales@deluxefreight.com or cayman@ deluxefreight.com

Services include twice-a-week ocean consolidations, daily air shipments and small package handling rates for cargo 12 cubic feet or less. SEE AD PAGE 120

Hyde Shipping Corporation

Tel: (345) 947 4933

Email: caymanteam@hydeshipping.com www.hydeshipping.com

Hyde Shipping offers a consolidated shipping service whereby you can have your LCL or online shopping sent to their Miami address and it will be consolidated and shipped to Grand Cayman. They also ship full container loads, cars, boats and heavy equipment with twice-weekly sailings to Grand Cayman. SEE AD PAGE 115

Mail Boxes Etc.

Market Street, Camana Bay and Edgewater Way, Harbour Walk

Tel: (345) 745 1400

Email: info@mbe.ky or www.mbe.ky

Services include both e-Box air cargo shipping with 4-7 business days turnaround, and ocean cargo shipping with 2-4 weeks turnaround from Miami. Just select the appropriate Miami-based address for the service you wish to use. They will handle all the customs paperwork and clearance of your goods into the Cayman Islands. You get access to a web-based portal and mobile app to manage your packages. More information, rates and account creation details are available on their website.

NCI Freight & Logistics

265 Smith Road, Palm Grove Building, GT Tel: (345) 943 4624

Email: info@nci.ky or www.nci.ky

NCI’s ocean freight forwarding services offer end-to-end shipping for Less than Container Loads (LCL) and Full Container Loads (FCL) for personal, household, retail, construction, commercial goods and vehicles. They offer weekly shipments to Grand Cayman and the Sister Islands from the NCI freight receiving hub in Miami. Customers are offered free consolidation of up to thirty days storage in Miami. On arrival of shipment in Cayman, NCI will handle customs clearance and inspection, and they deliver shipments to your door.

SEE AD PAGE 117 & 274

StaMar Enterprises Ltd.

Tel: (345) 949 2399

Email: info@stamar.ky www.stamar.ky

StaMar provides customs clearance and brokerage, import and export services for personal and commercial shipments, moving services, freight forwarding from Miami, and pre-clearance for perishable cargo. For all your online shopping needs, StaMar offers weekly and three-day priority freight forwarding services to their US delivery address with realtime tracking via the customer portal, as well as customs clearance and on-Island delivery, all at competitive rates. SEE AD PAGE 119 & 275

Shipping by Air

All local and Miami-based freight forwarders can also ship by air. Alternatively, Cayman Airways Cargo has an air shipment service, which can prove to be a cost-effective shipping option if you are moving from the US. You need to deliver the items packed for shipping to the cargo area at the airport. Once they are delivered to Cayman, you will need to either arrange for collection yourself or use a customs broker. For more information, call (345) 743 8547 or visit www.caymanairways.com/cargo.

Excess Baggage

If you are only bringing your personal effects with you, another option to consider is using your airline’s excess baggage allowance. Cayman Airways charges a fee of US$25 on the first and second bag for economy class

passengers travelling internationally. More bags can be checked in for additional fees. There is no charge for up to two bags when travelling between the Sister Islands. American Airlines charges between US$35US$75 on the first bag and US$45US$100 for the second bag, and US$150US$200 for the third and fourth bags. Oversize bag fees start at US$150. Jet Blue charges US$55 for the first bag and US$70 for the second. Southwest Airlines, accepts the first two checked bags for free, as long as they are under 50lbs. The free baggage allowance on British Airways varies depending on the destination of travel and ticket class purchased. WestJet charges CA$45 for the first bag, CA$65 for the second and CA$150+ for the third and fourth bags.

For most airlines, fees for extra bags are often lower if you pay for them online in advance.

Shipping by Sea

Transit time from Florida to Cayman is usually two to three days. You can ship your personal items through a shipping company or a freight forwarder. Upon arrival in Cayman, you or your freight forwarder of choice will be required to clear the shipment through Cayman Customs and the Port Authority, and then arrange delivery.

Hyde Shipping Corporation

Full containers:

1801 SE 28th Street, Port Everglades, FL 33316, USA

US Tel: 1 (305) 913 4933

Cayman Tel: (345) 947 4933

Email: caymanteam@hydeshipping.com www.hydeshipping.com

Less than container loads (LCL): 3740 W 104th Street, Suite 1, Hialeah, FL 33018, USA

US Tel: 1 (305) 913 4933

Hyde Shipping sends both full containers and LCLs to Cayman every Monday and Thursday.

Mail Boxes Etc.

Market Street, Camana Bay and

Edgewater Way, Harbour Walk

Tel: (345) 745 1400

Email: info@mbe.ky or www.mbe.ky

Services include both e-Box air cargo shipping with 4-7 business days turnaround, and ocean cargo shipping with 2-4 weeks turnaround from Miami. Just select the appropriate Miami-based address for the service you wish to use. They will handle all the customs paperwork and clearance of your goods into the Cayman Islands. You get access to a web-based portal and mobile app to manage your packages. More information, rates and account creation details are available on their website.

Seaboard Marine Cayman

Port of Miami, 1630 Port Boulevard, Miami

Tel: (345) 949 4977

Email: info@seaboardcayman.com

Seaboard Marine offers shipping services to the Caribbean, North America, Central America and South America. Full container loads and less than container shipments are available, as well as a direct weekly sailing from Miami and regular shipments from Jamaica.

Tropical Shipping

9505 NW 108th Avenue, Medley, FL 33178

US Tel: 1 (561) 881 3999

Local Agents: Tibbetts Logistics Ltd customercare@tibbettslogisticsCI.com

Ships full containers (FCL) or less than containers (LCL). Their ships leave the Port of Palm Beach, Florida for Grand Cayman every Tuesday and Friday with a two-day transit to Cayman.

SHIPPING CONSIDERATIONS

Import Duty

Visitors and residents that are flying into the Cayman Islands no longer have to declare their goods through customs if they do not exceed the CI$500 goods allowance or the alcohol and tobacco quotas. If you’re entering Cayman to take up employment or residency for a period in excess of 12 months (i.e. your work permit must be for one year or more), your personal and household effects are admitted duty-free, although they must be imported within six months of arrival. This six-month period starts the moment you

arrive, rather than the date your work permit is approved. For the import of used personal effects, you must complete a ‘Declaration for Unaccompanied Baggage’ form in addition to the ‘Customs Import Entry’ form and produce proof of residency by way of a work permit or other means. Please note that it is absolutely essential that you, or the freight forwarder you have assigned, make it very clear what items are new within your packing list so that duty can be assessed accordingly. The Customs Department will charge you a duty penalty on any new items they feel have been brought in without being declared on your paperwork. If you can’t import your household items within the six-month window, it is possible to ask the collector of customs for an extension. You will need to write a letter to PO Box 898, Grand Cayman KY1-1103 or call (345) 949 4579.

Most mail-order items will be charged 22% duty and any gifts sent by family and friends are also subject to duty. Common duty charges can range from 7% to 27%.

See the table on page 121 for a

comprehensive list of goods and their duty rates. You can also find a full list on the government website: https://online.gov. ky/cols/faces/colshtc.

Customs Clearance

Clearing your household effects through customs yourself is possible, but it can be quite complex, so we recommend that you do it through a customs broker. They are reasonably priced and know the process inside out. The cost is usually CI$75/ US$100. Visit www.caymanresident.com/ move/shipping-to-cayman/custom-brokers for a list of custom brokers.

If you’d prefer to handle the process yourself, here is an overview of what you need to do:

> Before your shipment arrives, you will need to pre-register on the Customs Online System (COLS) website (www.online.gov.ky/cols/ faces/home). Once you submit the request, they will either approve the registration or they will advise, via email, what other documents are required. If approved, you will

be given a COLS trader identification number (TIN) and login information.

> You will then be able to log in to the COLS website, where you must start the nine-step process to declare your goods. Supporting PDF documents needed will include invoices and the Bill of Lading/Airway Bill. Confirming the declaration will constitute as your electronic signature, which will be legally binding. This process is subject to change as the customs department in the Cayman Islands continually upgrades their system.

> Once the customs entry has been approved and finalised by customs, payment will have to be made at the Customs Department on Owen Roberts Drive. Make sure to call Customs before collection on (345) 949 4579. There is also a government inspection fee of CI$100 on all containers and CI$0.15 per cubic foot for less than container load shipments.

> For air freight, you will need to go to the customs warehouse on Owen Roberts Drive to collect your shipment. You will pay the warehousing fee, which depends

on the weight and/or size of the package, whichever is greater.

> For ocean cargo, once customs has released the shipment, go to the Port Authority on Portland Road, Industrial Park (Tel: (345) 949 2055), to get clearance of your goods. Once all fees are paid, you can collect your shipment from the Port Authority. They are open Monday-Friday 8.30am-4.30pm and Saturday 8.30am-12pm. For a 20ft container, the fee is CI$383.81. For a 40ft container, the fee is CI$767.62. Prices will vary for less than container loads (LCL) based on the size and weight of the cargo. The fee is calculated per dock receipt at CI$16.65 per 40 cubic feet or 2000lbs, plus a trucking fee (Note: These prices are subject to change). Collect your items as soon as possible, as a storage fee is charged daily after five business days.

> If your goods are to be inspected, you will have to arrange an inspection time with the Customs Inspection Unit. Be sure to have your documents ready to show what has been declared.

Here are some basic guidelines to help assist you in deciding what to bring to help you settle into your new life.

Clothing

In Grand Cayman, there is a reasonable selection of stores, but certainly not as many as in a large city and the prices will likely be more expensive than you are used to. You may need a light sweater if you will be working in an air-conditioned building or when we are hit with a cold front. Bring a raincoat for the rainy season and suitable footwear.

Computers, Phones & Tablets

Laptops, smartphones and tablets/iPads are dutiable if they were recently purchased overseas. If you are travelling to and from Grand Cayman with electronic devices, you can register them, so you are able to prove to customs that these devices have not just been purchased abroad. To obtain a form visit

www.gov.ky/cbc/forms and click ‘Articles taken abroad (as baggage) Registration form’. Forms must be submitted at least 24 hours before travel.

See the Shopping chapter for details on where to buy electronic goods locally.

Electrical Appliances

Cayman runs on the same electrical system as the US (110/115v) but uses a three-pin plug. However, the US two-pin plug will work. If your appliances run on 220v and they don’t have dual capability, they will not work in Cayman.

Importing Food

Small quantities of meat and seafood can be imported if it is for personal use only.

Cooked or frozen seafood of up to 20lbs is allowed for personal consumption, providing that there is proof of purchase and/or inspection.

Small quantities of meats (up to 11lbs) are allowed provided the original packaging is intact and the packaging bears the inspection mark/icon from the competent government authority in the country of export. To read more, visit https://doa.gov. ky/faqs/.

You can also bring in coffee and herbs for personal use, if they are sealed in their original packaging.

Fresh fruits and vegetables require an import permit from the Cayman Islands Department of Agriculture, regardless of the quantity.

Furniture, Lighting & Appliances

Rented condos and homes generally come with all the basic furnishing, lights and appliances needed.

If you’re buying a house or apartment, they will also usually be fully furnished, unless they are newly built. Bring personal accessories and smaller items, like framed photographs and other personal mementoes, to help your new house feel like your own. Any larger pieces of furniture can be shipped from home later. There are some fantastic furniture and homeware stores in Cayman. See the Shopping chapter for more

When moving to the Cayman Islands, we recommend you think carefully before selling good quality pieces of furniture or those with sentimental value, as it is unlikely you will be able to replace them in Cayman. If you intend on buying new furniture overseas, you’ll have to pay for the shipping plus 22% import duty.

Firearms & Other Weapons

It is possible to import a firearm or your firearm collection to the Island; however, the Cayman Islands has very strict laws on the possession of unregistered firearms. It is illegal to possess a firearm without a Firearms Licence authorised by the Commissioner of Police. Punishment for this offence is severe, with a minimum of 15 years’ imprisonment, or 10 years with a guilty plea. To import, the applicant must complete a Firearms Licence and Import form, which can be obtained from the Royal Cayman Islands Police Service (RCIPS). In addition to providing various supporting documents, the applicant will be required to declare that their firearm will be stored in a locked box or safe bolted to the wall and floor. The RCIPS reserves the right to inspect the safe, firearm and ammunition at any time. You can also import a bow and arrow or your bow and arrow collection, but the same procedures for importing and storing a firearm must be followed. The use of spear guns is also regulated. It is illegal to possess, use and import a spear gun without a licence from the Marine Conservation Board.

Kitchen Appliances

Most rental apartments come with appliances such as a washer/ dryer, dishwasher, microwave, refrigerator and oven. A fully furnished apartment should also come with a toaster, kettle and coffee maker, but if they don’t, then local home centres, such as A. L. Thompson’s (SEE AD PAGE 190, 202, 204, 268 & 311) , stock these items. Check with your landlord beforehand to find out what is included.

Medication

Be sure to pack at least a month’s supply of medication that needs to be taken daily while you organise your on-Island healthcare and health insurance. Most medicines are available on Grand Cayman, although they may be sold under another brand name. Ask your GP for the generic names of prescription drugs. See page 364 in the Health & Wellness chapter for a full list of pharmacies in the Cayman Islands.

Wine

Individuals can bring a maximum of four litres of wine in their luggage. If you want to import your wine collection from home, you must bring it in through a company that has a liquor licence. Regardless of the value of your wine on the open market, the Cayman Islands Government charges the following duty per litre of wine: CI$10.80 for Champagne, CI$7.80 for sparkling wine, CI$3.60 for table wine and CI$5.25 for dessert wine.

Duty rates on Goods Imported to the Cayman Islands

The following rates apply whether brought in by the individual (if exceeding the personal goods allowance), or are imported by a freight forwarder.

not apply to visitors getting married in the Cayman Islands.

Settling In

Opening a

MONEY & BANKING

Opening a Personal Bank Account – Resident

All banks in the Cayman Islands adhere to mandatory duediligence requirements and will perform extensive checks before opening an account to ensure that you are thoroughly legitimate and that no money will be laundered. Each bank may have slightly different requirements. Here are some:

> An employment letter addressed to the bank confirming your position, salary and expected length of employment

> A recent utility bill (not older than three months) or lease agreement in the individual’s name as proof of address. In the event of the latter, you would need to provide a copy of your landlord’s utility bill

> Original passport for all countries of citizenship (to be certified by the bank, meaning a personal meeting is required)

> W9 forms for US citizens

> Original or notarised copy of Work Permit letter, Cayman Status, Right to Work or Naturalisation certificate

> Completed and signed application form.

Opening a Personal Bank Account – Non-Resident

Non-residents can open a bank account in Cayman without visiting the Islands (not all banks offer this service), but they must submit multiple certified documents to prove their identity, current overseas address, the source of funds and

Photos courtesy of Rebecca Davidson & Julie Corsetti

bank references. Local banks will often want a legitimate rationale for opening an account for an overseas resident, in addition to the following:

> An employment letter addressed to the bank confirming your position, salary and length of employment

> An original bank reference addressed to the bank in Cayman stating how long you have banked with your home bank, the average balance maintained and how the account has been conducted

> An original professional reference addressed to the bank from a law or accounting firm

> Curriculum Vitae (CV)

> A recent original utility bill (no older than three months) or a lease agreement in the individual’s name as proof of address

> Certified copy of your passport(s) for all countries of citizenship (to be certified by the bank)

> W9 forms for US citizens

> If you own or rent property in Cayman, then a certified copy of the land register agreement, a transfer of land document or a copy of a rental agreement

> Completed application form.

Opening a Business Bank Account

Refer to the Running a Business chapter.

Local Banks

Butterfield Bank (Cayman) Limited

12 Albert Panton Street, George Town PO Box 705, Grand Cayman KY1-1107

Tel: (345) 949 7055

Email: info.cayman@butterfieldgroup.com www.butterfieldgroup.com

Branches & Banking Hours: Butterfield Place Banking Centre (GT), Monday-Friday 9am4pm, Midtown Plaza Banking Centre (GT), Monday-Friday 9am-4pm and Camana Bay Banking Centre (SMB), Monday-Friday 9am4pm.

Banking Centre Services: Accounts, online banking, ATMs, credit and debit cards, currency exchange, wire transfers, bank drafts, utility bill payments, night deposit facilities, safety deposit boxes, standing orders, mortgage services and loans.

Other Services Offered: Credit references, trust services, private banking and investment management. SEE AD PAGE 123

Cayman National Bank Ltd.

PO Box 1097, Grand Cayman KY1-1102

Tel: (345) 949 4655

Email: cnb@caymannational.com www.caymannational.com

Branches & Banking Hours: Kapok in Camana Bay (SMB), Centennial Towers (WB), Countryside Shopping Village (Savannah), Elgin Ave (GT), Cayman Brac, Monday-Thursday 9am-4pm, Friday 9am-4.30pm; Little Cayman, Monday and Thursday 9am–11.30am and 12pm-2pm (hours subject to change with Cayman Airways flight schedule).

Bank Services: Chequing, savings and fixed deposit accounts, credit and debit cards, online banking and mobile app, largest ATM network Island-wide, currency exchange, wire transfers, electronic funds transfer, travellers’ cheques cashing, bank drafts, letters of credit, utility bill payments, standing orders, merchant services, night deposit facilities, customised credit solutions such as mortgages, loans and

domestic and international/domestic premier banking at the Camana Bay location.

SEE AD PAGE 125

CIBC FirstCaribbean

PO Box 68, Grand Cayman KY1-1102

Tel: 1 (866) 743 2257

www.cibcfcib.com

Branches & Banking Hours: Main Street (GT) and Governors Square, Lime Tree Bay Avenue (SMB) Monday-Thursday 9am-4pm and Friday 9am-4.30pm.

PROVEN Bank (formerly Fidelity Bank)

PO Box 914, Grand Cayman KY1-1103

Tel: (345) 949 7822

Email: info@provenbank.com www.provenbank.com

Branches & Banking Hours:

36A Dr. Roy’s Drive, Cayman Financial Centre (Bank Headquarters and Retail Branch), Monday-Thursday 9am-4pm, Friday 9am4.30pm. 1 Gecko Link, West Bay Road (Corporate & Private Banking Office), MondayFriday 9am-5pm by appointment. Email: corporateandprivatebanking@provenbank. com.

Banking Services:

PROVEN Bank holds a Class A banking licence and offers the full suite of banking solutions and services including chequing and savings accounts, credit cards, debit cards, prepaid cards, online banking, teller services, ATM, merchant services, currency exchange, wire transfers, bank drafts, and loans. The Corporate & Private Banking team offers dedicated relationship managers, swift account setups, operating accounts, business credit cards, term deposits, payroll services, e-commerce, overdraft services, and corporate lending.

SEE AD THIS PAGE & PAGE 61

RBC Royal Bank (Cayman) Ltd.

PO Box 245, Grand Cayman KY1-1104

Tel: (345) 949 4600

www.rbcroyalbank.com/caribbean

Branches & Banking Hours: 24 Shedden Road (GT), Monday-Tuesday 9am-4pm, Wednesday-Thursday 9am-5pm and Friday 9am-4.30pm; 53 Shamrock Road (next to Grand Harbour), Monday-Friday 10am-6pm.

Premier Banking brings you premium products with the highest level of personalised service.

Your dedicated Relationship Management Team ensures your financial services needs are more than met.

Premier client service

• Dedicated Relationship Manager

• Preferential rates on loans and overdrafts

• Priority processing on all applications

• Streamlined account opening

• Highly trained support team to manage your everyday banking needs

• Convenience of private meeting spaces at our Camana Bay location

Infinite Credit and Debit Cards

With the reach and power of the VISA worldwide card system on your side, you have the freedom to live your Premier life.

Please contact us at D DomesticPremierBanking@caymannational com or via caymannational.com/premier

VISA

Scotiabank & Trust (Cayman) Ltd.

Scotia Centre, 18 Forum Lane, Camana Bay PO Box 689, Grand Cayman KY1-1107

Tel: (345) 949 7666

www.scotiabank.com

Branches & Banking Hours: Camana Bay (SMB) and South Sound (across from Grand Harbour), Monday-Thursday 9am-4pm and Friday 9am4.30pm.

Online Banking, ATMs & Cheque Books

All banks on-Island offer online banking, but some are more user-friendly than others. If online banking is important to you, it is worth asking about each bank’s online capabilities. All banks allow you to pay almost all your monthly bills online.

ATM machines are available at most bank branches and all supermarkets. If you use your own bank’s ATM, you will not be charged a withdrawal fee other than Government’s 25 stamp duty charge for every withdrawal. The charge to use another bank’s ATM is CI$2CI$3, depending on the bank, for each withdrawal.

If you need a cheque book on your personal bank account, make sure to ask the prospective bank if they offer this service, as some do not.

Dialling Codes

To the Cayman Islands

From the UK: 001 + 345 + number

From the USA: 1 + 345 + number

From the Cayman Islands To the Caribbean: 1 + Country Code + number

To the USA & Canada: 1 + Area Code + number

To the UK: 011 + 44 + number

Rest of the world: 011 + Country Code + number

Money Transfer Services

Due to the number of foreign nationals in the Cayman Islands, there are numerous money transfer companies on-Island, including MoneyGram, JN Money transfer and Western Union. Money transfer companies accept both US and CI dollars.

MoneyGram

MoneyGram has eight locations on Grand Cayman. It offers a fast and secure way to send money. Tel: (345) 945 5616.

Western Union

Western Union is located at most Foster’s Supermarkets in Grand Cayman and L M Superstore in Cayman Brac.

TELECOMMUNICATIONS

Cayman’s sophisticated tourism and financial industries have ensured that telecommunications are as advanced as those you would find in any developed country. Options for mobile and residential phone services and high-speed internet connections (via fixed lines and through mobile data) are available across all three Islands.

In the Cayman Islands, international connectivity is provided via two separate optical fibre submarine cables through to the US. These are the Cayman Jamaica fibre system, owned by Cable & Wireless Communications Limited (C&W) and the MAYA-1 subsea cable, owned and operated by a consortium in which C&W is a member, with connections to various locations in Central America.

Both subsea cables are nearing the end of their lives and new infrastructure could cost over CI$100 million of public funds. The Government is currently exploring options for replacing these systems either independently or by finding partner investors.

Finding a Provider

Choosing the right provider will depend both on the services available in your area and your personal usage. Unsurprisingly, bundled options from the same provider

can result in significant discounts. It is worth noting, however, that due to the small population of the Islands, the cost of broadband and residential and mobile phone services tends to be higher than in Europe and North America.

TELEPHONE SERVICES

Every provider in the Cayman Islands provides local and long-distance telephone services. All mobile phone providers offer an international direct dialling service. Mobile phone service options are varied and there are choices to suit any need, including mobile data, text messaging and voicemail.

The mobile providers in the Cayman Islands are Digicel and FLOW. Internet services are available from four providers: Logic, FLOW, Digicel and C3 Pure Fibre. Standalone and bundled internet and VoIP options are available and, in some instances, discounts are offered for taking more than one service.

Residential phone service choices are aplenty, with installation times varying from a couple of hours to a couple of weeks, depending on the company and the type of service you choose. If you are building a home in a newly developed area and want a fixed line installed, check directly with your provider to confirm the expected time of installation.

Overview of Local & Long-Distance Telephone Services

Logic and C3 Pure Fibre offer phone services which allow users to make calls at home using an internet connection rather than traditional fixed lines.

Logic’s Chatterbox service gives you unlimited international calls for a fixed monthly fee. A variety of monthly plans are available, depending on which countries you call the most. Chatterbox offers local, US, UK and Canada phone numbers, allowing you to stay connected to friends and family.

FLOW provides consumers with residential phones that use fixed landlines. They offer three home phone plans:

ONE STOP PHONE SHOP

Sales, Service & Repairs

iPhone, iPads, Samsung, tablets

Phones for Sale

Apple iPhone, Samsung Smart

Phones and Tablets, Unlocked and dual Sim phones, other models include Xiaomi- LG – Alcatel

Cellular Phone Repairs

Quality repairs for all phones and tablets. Samsung Authorized Service Centre & Apple

Independent Repair Provider (IRP)

Best original accessories for iPhones and Samsung including chargers, cases, screen protectors, and more

Phone unlocking service

Opening Hours

Monday-Friday 9am-7pm

Saturday 10am-6pm

Contact Details

Email: info@cellularworld.ky

Website: cellularworld.ky

Main Retail: Phone 945-2355

Repairs Phone: 943-2355

Whatsapp / Telegram: 323-2355

Address: Bay Town Plaza, WB Road

Cellular World Cayman

Residential, Home 500 and Home 800. All three packages have a monthly line rental charge, with the difference occurring in free local call minutes and discounts on international calls.

MOBILE SERVICES

The two mobile service providers operating in the Cayman Islands are Digicel and FLOW. Both companies offer prepaid options (pay-as-you-go/top-up), as well as postpaid plans (billed per month). Both options include voice calls, text messaging and data, and some also include a certain number of international calls (anywhere minutes).

Most residents have Android or iOS smartphone devices. FLOW and Digicel use both 4G and 5G technology, and the coverage across the Islands is very good. Both companies have apps that enable customers to view and pay their bills for postpaid phones, top-up credit on prepaid phones, as well as activate a number of addon plans, such as reduced international calling rates, roaming and data plans.

Prepaid Mobile Services

The advantage of prepaid mobile phones is that there is no contract, no monthly fee and no deposit required.

Prepaid SIM cards can be purchased from mobile service provider stores, as well as from other retailers, like supermarkets and gas stations. If you have an unlocked phone, all you need to do is purchase the SIM card, put it in your phone, add credit and start calling. Credit can be added at the same locations. SIMs can be bought online and through the mobile service providers’ apps.

The disadvantage of prepaid phones is that the per-minute rates are higher than for postpaid plans. Local calls cost 23 to 43 cents per minute, depending on the time of day and whether you are calling numbers within your network or to other networks. The prepaid credit can be used for making calls, using mobile data or texting. You will get better value by purchasing data, text and voice calling bundles.

Postpaid Mobile Services

You will usually be required to sign a contract for 12 or 24 months with a postpaid plan. These are easy to set up –you just need to take ID, proof of address and a deposit to your chosen provider – and there is a choice of plans allowing customers to choose the one that best fits their needs.

Postpaid plans are paid monthly at both FLOW and Digicel. Both include a basic allocation of minutes, text messages and data allowance. Contracts often include a discount on handsets and the cost of the phone can usually be spread out over the course of the contract.

As there is no such thing as credit rating systems in the Cayman Islands, you will need to put down a deposit, typically CI$100-CI$200, if you choose a postpaid plan.

FLOW currently offers unlimited plans, which include limitless data, WhatsApp, local texts and minutes, as well as an allowance of international minutes and free incoming calls whilst roaming. These start at CI$140. Customers who have broadband receive a discount on their unlimited mobile plan.

Handsets

Mobile phones can be bought locally at Cellular World, in the Bay Town Plaza, opposite The Wharf Restaurant on West Bay Road. They also sell accessories (car chargers, cases, screen protectors, etc). For more information, call (345) 943 2355 or email: info@cellularworld.ky. FLOW also sells a wide range of new handsets, some of which will be discounted. Purchasing a handset from one of the mobile providers on-Island is advisable as their selection of phones are set up to work best on the networks here. You will get a warranty and access to authorised repair services, however, you will be locked to the provider.

Phone Repairs

Cellular World

Bay Town Plaza, West Bay Road

Tel: (345) 943 2355 (repairs)/945 2355 (retail)

WhatsApp: (345) 525 2355

Email: info@cellularworld.ky

www.cellularworld.ky

For over 20 years, Cellular World has been selling and repairing phones. They keep up with the latest technology and can repair most mobile phones regardless of how complicated the problem is, from hardware to software, as well as cracked screens and charging problems. They are the authorised service centre for Samsung and an authorised Independent Repair Provider (IRP) for Apple. They sell the most popular brands of mobile phones and tablets (including Samsung, Apple, Motorola and Xiaomi), and they carry a selection of basic keypad phones for those that just need to make and receive calls. Open Monday-Friday 9am-7pm and Saturday 10am-6pm.

SEE AD OPPOSITE PAGE

iShop4u

Bayshore Mall, 31 South Church Street, GT

Tel: (345) 927 3601

www.ishop4u.ky

Offers repairs for most models of phones,

tablets and digital watches from Apple, Samsung and Google.

Roaming

All mobile phone providers offer worldwide roaming so that you can make and receive calls while travelling on your Cayman number. If roaming is not in your plan, these calls fall outside your monthly plan allocation, meaning that you will be billed at much higher rates than at home for both outgoing and incoming calls and text messages, as overseas networks charge higher rates for visiting users.

To enable frequent (and not so frequent) travelling, FLOW offers roaming plans. Opt for a roaming bundle which offers customers travelling in specific countries an allowance of data and minutes to use while roaming. Bundles can be activated just before departure and are usually valid for a specific period of time. To choose your roaming bundle, review the plans available online.

I NTERNET

Logic, FLOW, Digicel and C3 all offer home-based internet plans with unlimited usage. Generally, the download speeds offered by all four providers are very high. The higher the download speed, the better the performance for downloading data, playing games online and streaming content.

Fibre Optic (+TV)

Logic, FLOW and C3 have all been busy in recent years installing fibre optic cables so most of the Island can now enjoy consistent superfast broadband speeds. As fibre optic cables allow such consistently fast download speeds, all three providers offering fibre optic broadband also offer TV packages. The choice of channels will vary according to the provider but is generally based on US programming with add-on packages available for those who may want specific channels such as Hispanic, Filipino, sports or movies. See the TV section for more information.

Internet Providers

Logic’s fibre optic network covers over 75% of the homes in the Cayman Islands and offers speeds up to 1GB. Residential plans start from CI$89 for 300 Mbps. Logic TV is also available as a bundle with your internet package, meaning you get the benefit of monthly savings.

FLOW packages are offered to suit different needs and household sizes, from 300 Mbps to 1GB. FLOW’s superfast broadband customers can access a range of FLOW TV packages, plus choose additional channels and enjoy HD entertainment. TV packages include US and Latin American programming plus Video on Demand content. You can receive a free demo online at www.discoverflow.co or by visiting a FLOW retail store.

C3 Pure Fibre offers a selection of fibre optic-based services. C3 Pure Fibre serves both residential and business customers with WiFi, TV, phone and IP services. For more information, Tel: (345) 333 3333 or visit www.c3.ky.

Digicel offers broadband service for both business and residential customers. Find out more online at www.digicelgroup. com/ky.

C3 Pure Fibre

409 Walkers Road, George Town

Monday-Friday 9am-5pm and Saturday 9am1pm

Tel: (345) 333 3333 (customer service)

Email: info@c3.ky

www.c3.ky

Digicel

Cayman Technology Centre, 115 Printer Way, GT

Monday-Friday 8am-5pm

Tel: (345) 623 3445

Customer care from Digicel mobile: 100

FLOW

> Galleria Plaza, West Bay Road. Monday-Friday 9am-5.30pm, Saturday 9am-4pm

> Countryside Shopping Village, Savannah. Monday-Friday 10am-6pm, Saturday 10am5pm

> Stake Bay, Cayman Brac. Monday-Thursday 9am-4.30pm, Friday 9am-4pm

Local customer care: (345) 747 5050

Email: cay-bluecare@cwc.com (customer service)

Tel: (345) 949 7800 (main office) www.discoverflow.co

SEE AD PAGE 77 & 127

Logic

> Governors Square (Retail Centre), West Bay Road, Seven Mile Beach

Monday 9am-6pm, Tuesday 10am-6pm, Wednesday-Friday 9am-6pm, Saturday 9am1pm (closed on Sunday)

> Logic (Main Retail Centre) off Eastern Avenue, behind Rankin’s Plaza, George Town

Monday 8.30am-5.30pm, Tuesday 10am5.30pm, Wednesday-Friday 8.30am-5.30pm (closed Saturday and Sunday)

Tel: (345) 745 5555

Customer support line: Monday-Sunday 8am8pm

Email: support@logic.ky www.logic.ky SEE AD PAGE 129

TELEVISION

Residents can enjoy international programming through cable, satellite and broadband. There are also three free local, over-the-air TV stations which can be received in all households as long as the TV has an antenna. These are: Trinity Broadcast Network (channel 21 and Logic TV), CIGTV, the government channel, (channel 23 and Logic TV) and the Seventh Day Adventist Network (channel 30 and Logic TV).

Television Service

Three companies (Logic, FLOW and C3) provide TV programming to the Islands.

LogicTV has four tiers of packages available starting at CI$45 per month. Add-ons for HBO MAX and sports channels are also available. Set-up includes one set top box and additional set top boxes are available for households with multiple TVs. LogicTV also offers Whole Home DVR and free Video On Demand. The best feature of LogicTV is that it can be watched anywhere in the Cayman Islands by streaming on the LogicTV app. Customers can bundle their TV, internet and phone plans and save up to 10%. For more information on all LogicTV services and packages, call (345) 745 5555 or visit www.logic.ky.

FLOW TV works with broadband and a FLOW-supplied set top box. Customers choose between four monthly packages offering a range of channels at differing price structures, or you can customise your channel line-up. Packages start at CI$40 per month.

Streaming Services

Streaming services are a popular alternative to cable TV and all you need is a stable WiFi connection. There is a wide variety to choose from and most are available to stream on-Island.

If you’re travelling or streaming outside of the country where you originally set up your account, services will notify you directly of differences you may experience.

These include the selection of movies and TV shows available and different maturity ratings.

UTILITIES

Gas - Household

Gas is a safe and efficient energy solution for powering your home appliances. Propane is a non-toxic gas that provides a greener and more economical alternative for a wide range of appliances. By using propane, you can save up to 40% on your energy bill and reduce your carbon emissions by 85%.

The 20lb cylinders used for BBQs can be found at almost every gas station in Cayman, where you can buy a new filled cylinder or swap an empty used cylinder for a full one. Various gas companies around the Island allow customers to have their own cylinders filled at a fraction of the cost of exchange.

Bulk delivery can be utilised by installing a larger on-site tank either in the ground or a tall 100lb cylinder. Many houses in Cayman have an underground refillable propane tank in their garden or one standing alongside an exterior wall. The gas is then piped into the house. The size options for the tank vary depending on the amount, quantity and type of appliances being used.

In addition to cost and energy savings, another benefit is that many of your propane appliances can still be used even in the event of a power outage. If you would like a free consultation to determine the energy savings your home or company can achieve by switching to propane, call one of

the following companies:

Clean Gas

277 Sparky Drive, Industrial Park, George Town Tel: (345) 233 4427

www.cleangas.ky

Home Gas Ltd.

Walkers Road Plant, 490 Walkers Road, GT Tel: (345) 949 7474

www.homegas.com

Home Gas supplies propane gas for residential and commercial use. Offering a full-360 service operation including installation, maintenance and repairs, as well as gas supply and delivery.

Home Gas also offers appliances, including water heaters, cooking stoves/ovens, dryers, generators, outdoor fire features, tiki torches and more. Their services are available on all three Islands. SEE AD OPPOSITE PAGE

Water

Cayman Water (Tel: (345) 945 4277) and Water Authority - Cayman (Tel: (345) 949 2837) supply Grand Cayman with quality water. In the case of both companies, water is extracted from deep underground via a series of abstraction wells. The water that is extracted is saline groundwater and has to be treated using reverse osmosis. This process, with the addition of three fluoridefree chemicals, makes the water safe to drink straight from the tap. All chemicals added to the water are approved by the NSF International (National Sanitation Foundation) for potable water use.

Cayman Water serves the Seven Mile Beach and West Bay areas, while the Water

Authority serves the rest of Grand Cayman and Cayman Brac with piped and trucked water. Currently, piped water is only available to customers on the western end of Cayman Brac, up to Watering Place, while the remainder is served by water trucks. Water Authority will continue to expand its network in Cayman Brac, with a new Bluff water works facility.

Both companies require you to fill out an application, present your Land Registry form for proof of ownership and pay a non-refundable connection fee that varies according to the size of your water meter. Please note that both companies only allow property owners (not renters) to apply for water service. If you are a tenant, please arrange with your landlord to receive duplicate billing.

Water costs are typically lower than electricity, but an undetected leak, such as a running toilet or faulty irrigation system, can quickly inflate your water bill to far exceed other household costs. Always be sure to inspect your home regularly for dripping taps and ‘phantom flushing’ toilets to avoid an unexpectedly high water bill. CostWatch provides monitoring and automation services that allow you to track and manage your utilities, keeping costs within budget. If you have a leak, running toilet or irrigation fault causing high water usage, CostWatch will notify you quickly and could even stop it automatically. If you do suspect a leak, contact a licensed plumber as soon as possible.

As of September 2024, Cayman Water rates remain unchanged since 2023. The first 3,000 US gallons for a residential customer are charged at CI$18.98/1000 gal. Anything above that costs CI$22.77/1000 gal. An energy adjustment factor surcharge is applied each month that varies according to the cost of electricity. Monthly meter charges also vary depending on the size of the meter, from CI$3.50 to CI$40 for meter sizes ranging from 5/8” to 6”. Cayman Water’s website (www.caymanwater. com) provides additional information to

customers, such as current water quality data and answers to frequently asked questions.

At the Water Authority ‒ Cayman, the first 12 cubic meters (m³) (approximately 3,200 US gallons) is charged at CI$4.34/ m³. Anything above that costs CI$5.57/ m³. In addition, there is also a statutory fee of $0.22/m³, and an energy adjustment factor charge (that varies monthly and covers the fluctuations in the cost of electricity to produce the desalinated water). Monthly meter charges also vary depending on the size of the meter, from CI$5 to CI$58 for meter sizes ranging from 20mm to 150mm. The Water Authority’s website (www.waterauthority. ky) allows property owners to register for an online account and pay their bills electronically. For emergencies outside of business hours, call (345) 946 4357.

Water Authority - Cayman

13G Red Gate Road, George Town Tel: (345) 949 2837

Email: info@waterauthority.ky www.waterauthority.ky

Water Authority - Cayman is proud to supply the world’s most popular drink to the people of the Cayman Islands. Water Authority provides piped water, trucked water, sewerage and septage services to various service areas throughout the Cayman Islands.

SEE AD PAGE 131

Bottled Water

Locally bottled water is clean, affordable and comes in large blue reusable BPA-free five-gallon bottles that can be delivered to your home or office. Flowers Bottled Water (Tel: (345) 949 8688) sells purified, chlorine-free water in five-gallon BPA-free bottles. You can also buy imported bottled water from grocery stores. However, this generates a huge amount of plastic waste, so is discouraged. If you do purchase water from supermarkets, take the time to properly recycle your waste (see the Being Green chapter for information on recycling in Cayman).

Bulk Water

Flowers Block

184 Seymour Drive, Industrial Park, GT Tel: (345) 623 0000

Email: customerservice@flowersgroup.com www.flowersgroup.com

Offers bulk water for those who need their cisterns filled. They also provide pool water.

SEE AD PAGE 212

Electricity

Caribbean Utilities Company Ltd. (CUC) is the sole provider of electricity to Grand Cayman. The Islands run on a 120-volt electricity system with three-pin plugs. However, the outlets are designed to accommodate a two-pin American plug.

To obtain electricity services, property owners are required to complete and sign an application for electrical service, pay a deposit for Post-Pay Service (there is no deposit required for Pre-Pay electricity), show proof of ownership and a photo ID. Tenants are required to complete and sign an Application for Electrical Service, pay a deposit (for post-paid accounts), provide a signed rental agreement or lease and submit a photo ID. Applications should be submitted online. The customer application form can be found on CUC’s website at www.cuc-cayman.com. All customer-related services and offerings are able to be completed digitally and remotely. The security deposit required for existing post-paid electricity accounts (billed monthly) is calculated based on the average historical usage of the property for 45 days of consumption. Deposits for newly constructed residential homes or condos are calculated based on square footage and the number of bedrooms. Customer deposits may be re-evaluated, upon request, following at least six months of regular usage.

Monthly electricity bills will vary depending on the size of your house condo/apartment, your lifestyle, how often (and cold) you run your air conditioning, the efficiency of your air conditioning unit, the age of the property and how well the property is insulated, among other

factors. It is important to note that the Seasonal Energy Efficiency Rating (SEER) and regular maintenance of your air conditioning unit can make a big difference in kilowatt-hour (kWh) consumption and your monthly electric bill. Air Conditioning accounts for between 50% and 75% of the electricity consumption in most Grand Cayman homes. The higher the SEER, the less energy will be consumed for the same amount of cooling. A SEER of 20 for example, will consume around 25% less electricity than a SEER of 16 for the same amount of cooling. Managing your energy usage and getting your air conditioning units serviced regularly will ultimately save you money.

As of June 1st, 2024, base rates were CI$0.1321 per kWh for residential customers with a monthly facility charge fee of CI$6.56. There is an additional regulatory and licencing fee of CI$0.0155 per kWh, which applies only to usage over 1,000 kWh per month. After factoring in the surcharges for the cost of fuel, fuel duty,

and renewable energy purchased from third party sources, which change monthly and are passed through to consumers with zero mark-up, the effective residential rate in June 2024 was approximately CI$0.3170 per kWh.

While bill payments are not accepted at the Customer Service Centre, details on the numerous payment methods are listed under ‘Payment Options’ on CUC’s website. Most customers pay online directly or via online bank payments.

Caribbean Utilities Company Ltd. (CUC)

> Administration Building:

457 North Sound Road, George Town

Monday-Friday 8am-5pm

> Customer Service Centre:

Caribbean Plaza, West Bay Road

Monday-Friday 9am-4pm

PO Box 38, Grand Cayman KY1-1101

Tel: (345) 949 5200

Tel: (345) 945 1282 (24-hour fault reporting)

Email: service@cuc.ky www.cuc-cayman.com

Island Energy

201 Stake Bay Road, Cayman Brac

Monday-Thursday 8.30am-4.30pm, Friday 8.30am-4pm

Tel: (345) 948 2224 (Customer Service)

Tel: (345) 948 2624 (Emergencies)

Email: info@islandenergy.ky

Island Energy Ltd, formerly Cayman Brac Power and Light, is the dedicated electricity provider for Cayman Brac and Little Cayman.

Petrol & Diesel

The Utility Regulation and Competition Office (OfReg) of the Cayman Islands confirms that there are 30 retail petrol stations across the Islands; 27 retail stations on Grand Cayman, two retail stations on Cayman Brac and one retail station on Little Cayman. This constitutes 14 Rubis retail stations across the three Islands. There are 11 Esso (SOL) retail stations, two Refuel and an independent retail station which markets ethanol-blended gasoline and biodiesel-blended fuel. Almost all retail petrol stations have a convenience

As of 9th September 2024, the average full-service price for premium, regular and diesel fuel were CI$5.78, CI$5.35 and CI$5.37 per imperial gallon (IG), respectively, although prices vary from one station to another. The fuel prices in the Cayman Islands are influenced by the price of fuel on the international market. Self-service petrol prices are typically 5¢ per IG less than full-service prices. Weekly prices for retail fuel across the Islands are posted on OfReg’s website: www.ofreg.ky. The (import) duty component of gasoline is 75¢ per IG and 85¢ per IG for diesel. The quality of gasoline sold in Cayman is generally regular unleaded (89 AntiKnock Index (AKI) octane) and premium unleaded (93 AKI octane), which are available in the US. Regular E10 (87 AKI octane), mid-grade E10 (90 AKI octane), and premium E10 (93 AKI octane) are also available.

Cayman Islands Law states that all fuel stations must display their fuel prices

in CI dollars per imperial gallon, except at marinas, where prices must still be displayed in CI dollars per imperial gallon for comparison purposes but may be dispensed and charged in CI dollars per US gallons (which is approximately 20% less per volume than imperial gallons).

Scotts Landing at the Barcadere Marina sells only premium Valvtect Marine fuel. Valvtect ultra-low sulphur diesel and premium 93 octane ethanol-free gasoline are specifically formulated for marine engines but will also help to increase fuel mileage and protect the engine in your vehicle, generator or other equipment.

INSURANCE

Cayman has a wealth of insurance companies that can provide coverage for your home, car, boat, aircraft, life, health, property, contents, liability and much more.

Boat Insurance

Refer to the Boating chapter for a list of

companies that offer boat insurance.

Car Insurance

Refer to the Transportation chapter for more information and page 136 in this chapter for insurance providers.

Health Insurance

Under the law, all residents of the Cayman Islands must have health insurance and all employers should ensure that their employees, their employees’ unemployed spouses and dependent children residing in Cayman are also covered.

The options for coverage range from the basic Standard Health Insurance Contract (SHIC) to premium plans that cover everything but cost significantly more. The law states that the employer must cover at least 50% of the cost of the employee’s basic plan single rate but they are not obligated to cover any of the costs of eligible dependants. Therefore, knowing how much the health insurance deductions will be each month is crucial to working

out if you can afford to live here.

The basic SHIC plan is affordable: the cost for an individual is in the region of CI$168-CI$200 per month, for a couple CI$300-CI$500 and for a family CI$500-CI$650, with higher rates possible based on age and risks of the insured individual(s). If you would like to add dental and vision coverage, then those costs add approximately CI$40-CI$85 more per month, per individual.

Many companies will also offer an enhanced or premium plan as their main plan or as an option, but the cost for this can be in the region of CI$450-CI$1,200 per individual per month, with approximately double this rate per couple and triple this rate for a family. Make sure to ask how much of this will be deducted from your paycheck and to ask for a summary of coverage benefit outline.

Health insurance rates depend on the size of the group, the age of the employees, the types of pre-existing conditions and whether it is a SHIC, mid-tier or premium

plan. Rates will increase each year due to inflation, plus if there are ongoing major claims. The good news is that premium plans offer global coverage and the benefits are very extensive. The basic SHIC plan mainly provides on-Island care and will usually only offer overseas care when treatment is not available in Cayman. The coverage for dental, prescriptions, out-patient doctor’s visits or diagnostic procedures is also limited on SHIC plans.

For more information and to see a list of health insurance providers and brokers, please see the Health and Wellness chapter.

Home Insurance

The average cost of annual house insurance is based upon a percentage of the property value and, generally, includes liability insurance. Waterfront properties will attract higher insurance rates depending on the value of the property, their proximity to the water, storm-protection features and height above sea level. Storm protection is treated as a separate peril with a different

and larger deductible calculation. If your property is part of a strata corporation, the building must be insured in the name of the strata. Each owner then pays a portion, usually based on square footage, which is often included in the monthly strata fees. Some unit owners may seek additional protection.

The Cayman Islands Government charges a flat rate of CI$12 stamp duty on all insurance policies, plus an additional stamp duty fee of 2% of the premium for policies covering immovable property. This means that if you purchase or renew an existing policy on your home and the premium for the house is/was CI$5,000, you will pay stamp duty of CI$112 (2% of CI$5,000 plus CI$12). The fee is due in full at policy inception and does not go to the insurance companies. Shop around for an insurance rate to suit your needs.

Contents Insurance

Budget for about CI$500 per CI$35,000 of coverage. If you are renting a property,

your landlord may have insurance to cover the contents provided in your unit, such as appliances, but anything belonging to you needs to be covered by your own policy. Though the risk of theft in Cayman has risen over the past year or so, it is still relatively low. However, due to the chance of flooding and hurricane damage, contents insurance is recommended.

Insurance companies suggest you make a list of all your home contents and personal possessions, including relevant serial

numbers and the current replacement cost for each article. Photographs of items and their serial number labels stored on the cloud are a good thing to have in case of loss. You should review your insured items list every year to update the values, as these details will assist in faster claims settlements. These reviews will ensure you do not inadvertently under-insure your contents. The consequences of underinsuring your contents are simple: if the insurance company finds you have insured

We’re like packing a box and everything fits perfectly.

In other words, you can get everything you need in one place.

At CG BritCay, we can help you protect your personal belongings, motor, home, health and more, all in one convenient location.

To learn more, visit cgcoralisle.com

British Caymanian Insurance Company Limited

BritCay House, 236 Eastern Avenue, P.O. Box 74, George Town, Grand Cayman KY1-1102, Cayman Islands

tel: 345-949-8699

cgcoralisle.com |   @cgcoralisle

Good Like That.

your contents for CI$10,000 when they are really worth CI$20,000, and your loss is CI$5,000, then they will only reimburse you CI$2,500 minus the deductible. This is called the condition of average and is not unique to Cayman. Under-insurance is also applicable to your home insurance. You need to ensure your property rebuild valuation is current and the sums insured are adequate, especially in the current environment of high construction costs. If you own property that is part of a strata complex, you will need to examine the policy to determine where the coverage extends, e.g. your kitchen fixtures may or may not be covered by the strata’s building insurance. If not, you will have to ensure your kitchen appliances and fixtures yourself.

Travel Insurance

You will need travel insurance whenever you book a trip off-Island. Please refer to the Travel chapter for more information.

Insurance Providers & Brokers

Employers or individuals seeking coverage can use a broker’s services to help find the best insurance plan. Brokers don’t charge, they do all the leg work for reviewing multiple options at once and serve as your advocate for claims matters too. Your doctor, pharmacist and/or dentist may also have some valuable advice as well.

Aon Risk Solutions (Cayman) Ltd.

18 Forum Lane, 2nd Floor, Camana Bay Tel: (345) 945 1266

Email: aoncayman@aon.com www.aoncayman.com

Aon Risk Solutions (Cayman) is a leading insurance brokerage with a presence in more than 120 countries. They provide expert advice and solutions for corporate clients and affiliates. Aon’s specialists place insurance coverage for property (strata, commercial and homeowners), casualty, professional liability, cyber risk, marine and more. Their dedicated Employee Benefits team can structure a range of Health insurance plans to meet your company’s needs. SEE AD PAGE 134 & 368

Bogle Insurance

34 & 35 Pasadora Place, Smith Road, GT

Tel: (345) 949 0579 or (345) 623 0579

Email: service@bogleins.com

Since its inception in 1988, then offering only property and health insurance, Bogle has evolved into a comprehensive insurance provider. Their services include property, health, life, motor, marine, business, strata and builders’ liability coverage. Bogle is a wholly Caymanian-owned and operated firm equipped with a wealth of knowledge in the local and international markets. SEE AD PAGE 135

Caribbean Alliance Insurance

203 Alissta Towers, North Sound Road, GT

Tel: (345) 949 9744

Email: latoya.webb@caribbeanalliance.com www.caribbeanalliance.com

Home, contents, motor, liability, business and marine insurance.

Cayman First Insurance Company

Cayman First Centre, 17 Vibert Bodden Drive, off Shedden Road, George Town

Tel: (345) 949 7028

Email: askus@caymanfirst.com www.caymanfirst.com

Cayman First offers a full line of general insurance products and affordable group and individual health insurance products that respond to the changing needs of individuals, households and businesses. Insurance products include health, home, motor, marine, casualty and commercial. SEE AD THIS PAGE

Cayman Insurance Centre (Insurance Brokers)

Cayman Business Park, Unit A3, 10 Huldah Ave, GT

Tel: (345) 949 4657

Email: info@cic.com.ky www.cic.com.ky

Products: life, group health, individual health, property, motor, liability and professional indemnity. SEE AD PAGE 134

CG BritCay

BritCay House, 236 Eastern Avenue, GT

Tel: (345) 949 8699

Email: info_ky@cgcoralisle.com www.cgcoralisle.com

For 40 years, CG BritCay Insurance has been known as a company that offers security, stability and great customer service. Products offered include property and casualty (home, motor, travel and commercial insurance), health insurance and employee benefits, life insurance and pension services.

SEE AD OPPOSITE PAGE

CINICO

3rd Floor, Maiden Place, 227 Elgin Avenue, GT

Tel: (345) 949 8101

www.cinico.ky

Government-owned insurance company offering the Standard Health Insurance Contract plan as an individual, couple or family. CINICO also offers comprehensive motor and home insurance policies, including innovative parametric insurance policy cover for hurricane events. SEE AD PAGE 138

Gallagher Insurance Brokers (Cayman) Ltd.

Alissta Towers, 85 North Sound Road, GT

Tel: (345) 945 0030

Email: gc_generalinfo@ajg.com

www.ajg.com/caymanislands

Gallagher Insurance Brokers is the largest insurance brokerage in the Caribbean. Gallagher Cayman is focused on providing affordable insurance solutions and risk management services to a range of personal and commercial customers, including condominium and strata, business insurance, construction, group health and homeowners. With Gallagher’s extensive relationships throughout the industry, and global footprint, they have access to both the regional insurance and international markets.

SEE AD PAGE 62 & 374

The Insurance Company of the West Indies (Cayman) Limited (ICWI)

Tel: (345) 949 6970

Email: cayman@icwi.com www.icwi.com

Products include motor, property, casualty, liability and marine. Ask about REACT, family pack, uninsured motorist, accident forgiveness and alternative transport under the motor policy. SEE AD OPPOSITE PAGE

Island Heritage Insurance Company Ltd.

Tel: (345) 949 7280

Email: customercare@islandheritage.com.ky www.islandheritageinsurance.com

Insurance provider for home, motor, marine, commercial and pension. SEE AD PAGE 141

Marsh Management Services Cayman Ltd.

Governors Square, 23 Lime Tree Bay Avenue

Tel: (345) 949 7988

Email: caymanoffice@marsh.com www.marsh.com

Marsh provides clients with a single source for risk management services. Their experienced team of professionals can assist by developing a comprehensive employee benefits programme, including group medical and ancillary plans. The Property and Casualty team offers insurance including, but not limited to, strata, marine, homeowners, business and liability insurance, contractor’s all risk and professional indemnity. SEE AD PAGE 371

Pensum Services

Unit A7, Cayman Business Park, George Town

Tel: (345) 923 6655

Email: insurance@pensum.pro www.pensum.pro

Pensum has over 15 years of experience in international insurance, including marine, aviation, commercial and private propertyrelated insurance and health insurance for international crew members. Pensum can also assist in obtaining healthcare professional liability insurance for medical providers.

Saxon Insurance

14 Saturday Close, Eastern Avenue, GT

Tel: (345) 947 2966

Email: insurance@saxon.ky

www.saxon.ky

Products include auto, property and contents.

Vanguard Risk Solutions

36A Dr Roy’s Drive, Cayman Financial Centre

Tel: (345) 949 5836

Email: info@vrscayman.com

and trusted advice from experienced and qualified professionals. Vanguard offers a comprehensive range of insurance solutions for both individuals and companies, including for homes, commercial and condominium buildings, general and professional liability, motor, marine, health and group life insurance.

Life Insurance

Investing in life insurance protects your spouse and/or children from the potentially disastrous financial losses that could result after you’ve departed.

Juliet Osbourne - Life Insurance

Tel: (345) 916 0500

Email: juliet@julietosbourne.com www.julietosbourne.com

Juliet is a life insurance expert specialising in finding competitively priced policies to cover your mortgage, protect your family, or safeguard your income. She ensures you get the best plan tailored to your lifestyle and budget while making the process easy to navigate. Contact Juliet for a quote by phone or email.

Michael Webster - Life Agent

Tel: (345) 925 5433

Email: michael.webster@cic.com.ky www.lifeinsurance345.com

Michael Webster offers protection for both your mortgage and family. He offers term life, mortgage protection term life and whole life policies. For peace of mind, call for a free, no obligation quote. SEE AD THIS PAGE

Sagicor

198 North Church St, George Town

Tel: (345) 949 8211

Email: cy_infocayman@sagicor.com www.sagicorcayman.com

Sagicor has operated in the Cayman Islands for over 30 years and is registered with the Cayman Islands Monetary Authority (CIMA) as a Class A Domestic Insurer. It is a member of the Sagicor Group of companies which operates in over 22 countries across the Caribbean and USA. Sagicor offers a diverse range of life insurance products to fit your individual needs. SEE AD PAGE 47, 107 & 140

Private (Non-Government) Pensions

The Cayman Islands is different from many other jurisdictions when it comes to pensions. There are two pension sectors in Cayman; privately funded pension plans and Government funded pension plans for civil servants. The private sector pension plans are funded by employees and employers but are Governmentmandated. The National Pensions Act

Cell: (345) 925-LIFE (5433) Email: michael.webster@cic.com.ky

requires employers to remit a total of 10% of the employee’s monthly earnings to an approved pension plan, with no more than 5% coming from the employee and no less than 5% coming from the employer. Those who are self-employed are required to contribute 10% of their earnings to a pension plan.

In January 2023, the National Pensions (Amendment) Act 2016, Commencement Order 2022 was passed with several notable amendments being introduced

through the course of the year:

> From January 1st 2023, each pension plan is required to hold an Annual General Meeting within 6 months of the financial year end of the plan and must provide evidence of the meeting (agenda, attendance record, minutes and copies of other documents distributed) to the Department of Labour and Pensions within 3 months thereafter. Statements must also be provided at least semiannually to each member and must show

the date payments were received from the employer, amount received and the contribution period for which payment is made for each employer and employee.

> From March 1st 2023, higher fines may be levied on employers that avoid paying pensions. On summary conviction for a first offence of non-compliance, employers can receive fines up to CI$20,000 or possible imprisonment for up to 2 years, or both. Second offences can attract fines up to CI$50,000 or

imprisonment up to 3 years, or both.

> From July 1st 2023, interest shall accrue on delinquent contributions (contributions not received by the 15th day following the earnings month) and are reportable to the Director on the 15th of the following month. Additionally, the administrator is to notify the affected employees within 60 days of the notification to the Director.

In April 2020, an amendment to the National Pensions Act was passed that enabled workers to access their private pension funds up to a certain amount to assist those who had been financially impacted by the COVID-19 pandemic. Nearly CI$500 million was withdrawn from private pension plans before the scheme ended on 31st October 2020. While the pension withdrawal scheme was incredibly helpful for those who had their livelihood impacted by COVID-19, the pension administrators and some Government Ministers have voiced their concern that it will have a significant knock-on effect some years down the line. Nothing has yet been announced to increase the contribution rate to replenish the depleted amounts, and Government has since allowed Caymanians to withdraw higher sums of money from their pension plans to assist with buying a property, mortgage balance reduction and paying off mortgages. While these amounts are advanced as loans and the employee must repay an additional 3% of their salary for 10 years or until the loan is fully repaid, this too will have a detrimental effect on the value of the employee’s pension when retirement arrives.

In June 2024, due to the rising cost of living, Government increased the amount pensioners in the private sector can take from their retirement funds at retirement age from a Retirement Savings Arrangement ‘RSA’. This annual payment of funds has increased by 6.2%, from CI$14,125 in 2023, to CI$15,000 per year. The amount a retired person can withdraw is based on their age and account value. When the amount calculated from

the indicated percentage in the Drawdown schedule is less than CI$15,000, the member is free to take the higher sum of CI$15,000. However, if the amount calculated is greater than CI$15,000, the member is free to take the greater amount. For more information, contact your pension plan provider directly. If you have a query, call the Department of Labour and Pensions (Tel: (345) 945 8960 or visit www.gov.ky/dlp).

Registered Pension Providers

Chamber Pension Plan

14 Saturn Close, Eastern Avenue, George Town Tel: (345) 745 7630

Email: admin@pensions.ky www.chamberpension.ky

Coralisle Pension Services Ltd.

BritCay House, 236 Eastern Avenue, GT Tel: (345) 949 8699

Email: pensions_ky@cgcoralisle.com www.cgcoralisle.com

Excellent investment returns; competitive administration/investment fees (no hidden fees); contributions allocated and invested every month; personalised and flexible investment strategies; comprehensive employee and employer statements; enhanced access that allows members to verify and make amendments to their account details and investment allocations online.

Island Heritage Retirement Pension Plan

Island Heritage House, 128 Lawrence Blvd Tel: (345) 949 7280

www.islandheritageinsurance.com

Island Heritage and the BF&M Group of companies offer long-term value through active capital management and careful analysis of risk/return. Pension members are provided with the solutions, resources, tools and guidance needed to develop and manage a retirement strategy.

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RF Bank & Trust

Fidelity Financial Centre, 1 Gecko Link, SMB Tel: (345) 746 6010

Email: invest@rfgroup.com

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Silver Thatch Pension Plan

(Powered by Saxon Pensions)

14 Saturn Close, Eastern Avenue, George Town Tel: (345) 943 7770

Email: support@silverthatch.org.ky www. silverthatch.org.ky

Verdant Isle Pension Plan (formerly Cayman National Pension Fund)

Saxon Centre, 2nd Floor, 14 Saturn Close, Eastern Ave, George Town Tel: (345) 640 8477

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Public Service Pensions

Civil servants and other public servants are members of the Public Service Pensions Plan (PSPP), which is administered by the Public Service Pensions Board (PSPB). This means that 15 ministries and portfolios of the Cayman Islands Government, along with 13 statutory authorities and Government-owned companies, are actively participating in the PSPP. As the largest pension administrator in the Cayman Islands, the PSPB oversees pension accounts for over 10,000 individuals, with over 1,800 of these members being pensioners.

The PSPP has both defined benefit and defined contribution components. Any member who joined the PSPP prior to January 2000 is part of the defined benefit plan portion. Individuals who join the PSPP after January 2000 are part of the defined contribution plan. So if you are looking to start employment with one of the PSPP’s participating employers, you will join the defined contribution plan.

As the pension leader in the Cayman Islands, the Public Service Pensions Fund continues to be the standard and as of 31st December 2023, the market value of the Fund was CI$1.134 billion. In 2023, the Fund achieved an exceptional return of 19% and it was this return that ranked the Fund in the top 1 percentile of its peer group for performance in the year. The Public Service Pensions Board continues to complete major initiatives relating to system self-service, risk management, appropriate oversight within the Authority and increased audit, with the results being enhanced services and retirement income for members who have served the Cayman Islands.

Contributions & Rate of Return:

For plan members of the defined contribution plan, contributions of 6% will be deducted from your salary or wages and will be credited to your employee contribution

account. A further 6% of your pensionable earnings will be credited to your employer contribution account on your behalf by your employer. The balances in both these accounts will increase each year based on a credited rate of return, which is calculated from the average of the rates of return received on investments for the previous three years, net of expenses.

Retirement

Options: Your age, years of service and Caymanian status are all factors that will determine your retirement options, or options available to a plan member if they leave the PSPP before becoming eligible to retire. The normal retirement age is 65, but early retirement options are available for plan members with at least 10 years of qualifying service. Upon electing to retire, a plan member can collect a full monthly pension, or they can elect to commit up to 25% of their benefit as a lump sum and receive a reduced monthly pension.

If a plan member is no longer employed with a participating PSPP employer and they are not eligible for retirement, they have options to leave their accrued benefit in the plan until retirement, transfer it to another approved plan in the Cayman Islands or request a cash-out of their accrued benefit. Note: The cashout option is subject to satisfying specific conditions relating to a non-Caymanian no longer working and residing in the Cayman Islands.

Public Service Pensions Board

: If members want more information specific to their pension, they can meet one-on-one with a PSPB member services officer. Walkin service is available Monday to Friday or by appointment at either of the PSPB offices. The PSPB Grand Cayman office is located at the Government Administration Building (133 Elgin Avenue, GT) and the PSPB Cayman Brac office is located at 5 Dennis Foster Road. For more information on the Public Service Pensions Board, call PSPB on (345) 945 8175, email: pspb@ pspb.ky or visit www.pspb.ky.

In terms of the number of transactions, Cayman's property market was certainly cooler in 2024 than in 2023. However, the average value of those properties increased. This means that mortgaged-property owners who are able to manage the high interest rates that affected their monthly repayments have seen an increase on their investments. Whilst inflation has dropped to less than 2% in the first quarter of 2024, interest rates remained high at 8%. This has disproportionately curbed new borrowing. Also, in some cases, home insurance costs have increased as much as 40%. All of this has hindered the local housing market.

However, for cash buyers the market is still a sellers' market, and in specific areas, at best it was a neutral market. Despite Government efforts to encourage first time Caymanian buyers to get onto the property ladder through a stamp duty waiver, (see our table on page 163), the majority of purchases are still from new individuals moving to Cayman and also from local investors. They are primarily moving here to work in family offices, banks and in legal services, but many are also coming to work in construction – there are two hotels currently being built, plus everywhere you look, new apartments and houses are going up. There are also the traditional vacation home buyers who, having visited as tourists, fall in love with Cayman and buy property.

Photos courtesy of Jonathan Sparrow, Cayman Islands Sotheby's International Realty

A Smart to Cayman

for more centrally located properties that are closer to work and schools, and as a result, prices in George Town, Seven Mile Beach, the Seven Mile Corridor, South Sound and West Bay have only increased. The latter developing at an astonishing rate due to the absence of rush hour traffic from that direction, though ironically this will undoubtedly change as the population in that area grows. In August of 2024, Members of Parliament agreed the route of the proposed East-West arterial road, going through the central wetlands area, with a view that the road would alleviate traffic for residents of the Eastern Districts. The reality is that the proposed road still leads to a bottleneck created by Cayman’s geography – the Grand Harbour roundabout is the depository of all roads taking residents living in the Eastern districts west. The National Roads Authority asked for public input on redesigning the roundabout as it is estimated that by 2035, 50,000 cars per day will pass through this junction, and something needs to be done to alleviate the congestion whilst improving pedestrian and cycling paths in the area. Due to the traffic problems, some homeowners have traded larger homes for smaller ones in more centrally located areas, while others with high mortgage costs have sold their property and are renting. The ultimate winner is the rental market, as properties are snapped up within hours of coming onto the market and prices have risen exponentially. One of the aggravating factors has been the huge delay in new builds being given their Certificate of Occupancy (CO). Cayman has incredibly strict planning laws, a lot of development and not many inspectors, and every stage of the build must be signed off by the Planning Department. As a result, currently the process of getting a CO on a finished property is taking more than six months. Without this document, no electricity can be turned on, so people cannot move in, which has also fuelled the rental market. There's no wonder renting a

great property has become so difficult for all involved.

According to the Cayman Islands Real Estate Brokers Association (CIREBA), there were 425 sales in the first six months of 2024 totalling CI$143,419,653 compared to 791 properties sold in the first six months of 2023 totalling CI$379,387,665, with 242 of these sales in 2024 being condo sales and 61 being single-family home sales.

As of June 2024, the total value of 1,859 active listings was over CI$935 million, while at the same point in 2023, 1,600 listings were listed at CI$3.355 billion. The reduction is due to there being no new luxury developments being launched in 2024. Cayman still attracts a lot of interest from people overseas who review real estate websites, blogs and podcasts, demonstrating the allure of Cayman and properties that often sell without people even being here. Particularly on Seven Mile Beach, which is effectively a Cayman property market within the Cayman property market. The apartments, condominiums and limited amount of free standing homes on this luxury strip seldom, if at all, see a reduction in price. The reality is that without mountains, the number of properties that can offer an ocean view is limited; people that live on an island have the desire to be as close to the ocean as possible, so as a result, oceanfront property prices do not fall.

Homes

According to Claudia Subiotto from Team Bovell, while there are only a few hundred single-family home property sales in Cayman each year, 61 had been sold by the end of June 2024 for an average value of CI$1.6 million, which was 91% of the asking price. 2024 saw more of a reduction on home prices than in 2023. The average length of time to sell a single-family home was 473 days, versus 493 days for a condo. Compared to previous years, this is a significant increase in time. Realtors have also noticed an upward trend of

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people favouring single-family homes over condos as they are not subject to mandatory strata fees and insurance costs, and no restrictions on having pets. By 1st July 2024 there were 215 singlefamily homes for sale across the three islands, averaging CI$4.1 million. For homes that are part of a strata, there were 18 listed for sale at an average of CI$1.6 million each, while there were 55 semidetached homes listed for an average price of CI$1.36 million.

Land

of CI$14.38psf in 2023 compared with CI$12psf in 2022. North Sound front parcels have shown a 39% increase from 2022 to mid-2023. Land in West Bay sold for an average of US$26.08psf. Land prices in Frank Sound have also risen over the last 18 months. In Cayman Brac and Little Cayman, there were 27 land sales in the first half of 2024 compared to 24 in 2023.

Condominiums & Apartments

Land continues to be in high demand as there are generally no costs to maintain it and buyers have the freedom to start building whenever they want to, so Caymanians like to invest in land for ‘land banking’. Traditionally, Caymanians offer land to newlyweds as wedding gifts, so good land is always in high demand but rarely comes onto the market, and when it does, it does not stay on for long. There were 449 parcels of land listed by mid-2024, 83 had been sold across the three Islands and the vast majority of those were low-density residential. Land sold for an average of 83% of the asking price. Canal-front land prices in Crystal Harbour, a high-end, gated community sub-division, saw a price increase of 21% on a sq ft basis between 2022 and 2023, with an average sale price of CI$77psf compared to CI$61psf in 2022. Key factors driving significant increases in value are the availability of very few plots remaining to be built on, and the offer of desirable amenities including playgrounds, pickleball courts and safe areas for cycling, walking and jogging, not to mention the perception of increased safety due to the communities being gated, and the lack of traffic for commuters and school runs. Further east, Patrick's Island has been another very popular area for house lot sales, especially as it is becoming a gated community as of the end of 2024. Land is now selling for CI$43psf, which is a 7% increase in one year. Landlocked parcels in Savannah have shown a 16% increase from 2022 to 2023, with average sale prices

At the end of June 2024, there were 1,045 condos listed for sale on CIREBA and 242 had been sold in the first six months of 2024, with an average of 90% of the asking price. When considering the market for condominiums in the Cayman Islands, it is often worth noting that there are two main sectors; condos located on Seven Mile Beach (SMB), which are often bought by overseas residents and are usually for 'daily rental' investment purposes, and others which are often inland apartments and townhouses. As our 'New Developments' section on the adjacent page shows, there is an ever-growing inventory of new condos. In addition, the appreciation seen on SMB has been continuous, and older properties with great beach frontage have benefitted the most. These have been prime material for redevelopment, benefitting from the Planning Department's decision to now allow building heights up to 10 floors on Seven Mile Beach. A case in point is the Lacovia units that used to sell for US$1,200,000 back in 2019, but the prices jumped to US$3.6 million when the redevelopment was unanimously approved by the strata members. A duplex in Lacovia is now selling for US$19 million, the penthouse is under contract for US$30 million, and the least expensive unit is selling for US$5.6 million (3-bed 3-bath). Note: Prices on SMB vary depending on square footage, floor level and unobstructed view.

Inland apartment complexes with 2 to 3-bedroom units have also seen a steady increase in price. These units are usually acquired for owner-occupation or for long-term rental income. Secret Gardens,

another popular condo complex in George Town, is a good indicator of how prices have risen between 2023 and 2024. A two-bedroom property sold in 2023 for CI$465k and in 2024 another 2-bed sold for CI$515k, showing a 10% increase in a year. Close-by in highly desirable South Sound, a 3-bed condo in San Sebastian sold for a healthy CI$760k in early 2024 and an almost identical 3-bed unit at nearby Vela then sold for CI$850k, even though San Sebastian was 630sq ft bigger, confirming that the area is a hot bed for sellers.

Warehouses

With the growth of the population and businesses, the need for storage spaces has skyrocketed and many parcels of land have been sold for the sole purpose of building warehouses. In June 2024 a newly built warehouse complex is selling for CI$550k per unit of 1,250sq ft which is an average of CI$420 psf. Important features to potential buyers include fire rated dividing walls, smoke detectors, sprinkler systems, steel and concrete construction able to withstand winds of 150mph, an electric shutter system, mezzanine level optimising a vertical space, fitted restrooms, air conditioning and finally, whether it is located in an area that does not flood. Many now double as a workshop or office space. Popular areas for warehouses are central George Town – especially near the airport – and near the centre of Seven Mile Beach.

New Developments

Seven Mile Beach: Currently under construction is the 10-storey Grand Hyatt Residences located on Pageant Beach, George Town, just on the cusp of where Seven Mile Beach begins. The 351-room hotel will contain 167 residential units and amenities, including five on-site restaurants, an ocean lagoon and a worldclass spa and fitness facility. Studios and one to three-bedroom units are priced upwards of US$700,000 to as much as US$10 million. A 1-bed condo in 2018 sold for US$1.325 million and in 2024

it is listed for sale for US$2.325 million. The Watermark which is going up between the existing Avalon and Harbour Heights complexes, will provide residents of the 54-unit development with five-star, resortstyle amenities and services. It is scheduled to be finished in the beginning of 2025 and condos are now selling for US$9.6-$35 million. Lacovia is to be redeveloped into a three-building, multi-storey, contemporary development comprising of three to five bedroom units, all outfitted with luxury appliances and bespoke finishes. As of June 2024 there were only nine units left for sale out of a total of 97. Aqua Bay, by renowned developer The Butler Group, is going to be built on a 90ft wide beachfront, with a waterfall edge pool, a private beach, BBQ areas for al fresco dining, a fitness centre, oceanfront lounge and games room and on-site undercover parking for each villa. Aqua is a 10-storey development under construction, comprising 10 four-bedroom units – one to each floor. Units are now available from US$6.5 million.'

Seven Mile Beach Corridor: Prisma, in Crystal Harbour, has received conditional approval to build 58 apartments, 20 townhouses, five duplexes, a restaurant, a two-storey parking garage and 20 pools over 7.5 acres. ONE Canal Point, a familyfocused gated community set on five acres, has canal-front views. This property is a boater's dream due to its direct boat access to the North Sound. Prices start anywhere between US$800,000 to US$3 million, depending on the residence. Lotus is another 3-bed townhouse complex with a garage on the Seven Mile Beach corridor that was selling pre-construction at CI$895k and is now selling for CI$1.275m. Ecofriendly, roof-terraced and contemporary Solara units in Crystal Harbour are definitely worth a viewing for newcomers to the Island and nearby The Grove Too, which is set for completion in late 2024, offers investment opportunities for commercial retail and upmarket residences.

West Bay: New developments include Blue Palms, which has eight three to four-

Carolyn Ritch Ken Ziemniak Jackie Beji

bedroom homes with rooftop terraces. Vida, located on the edge of Barker's Beach, is a boutique wellness hotel with 'Eco Lodge' residences for sale. The Sands is located near Centennial Towers in West Bay and has six waterfront residences consisting of only two units per floor, starting at US$3.6 million. Under construction is Serrana, which is an ultramodern, low-density development. Each of the 18 units has panoramic ocean views and prices starting from CI$3.7 million. Finished in 2022 is SeaDreams, a luxurious eight-unit, oceanfront boutique complex located on North West Point Road. Just one unit is currently listed on CIREBA at CI$1.8 million. Salt Air Townhomes, with two, three (plus dens) and fourbedroom configurations, present a great opportunity to purchase a brand new townhome in this family and pet-friendly, gated neighbourhood of The Shores. A 4-bed condo was selling for US$1.8 million in June 2024. Oceans 9 is now finished and is an incredibly impressive newly built community of nine detached four-bedroom oceanfront homes within a gated community. Still under construction is Point West, a property developed by the same developers as ONE Canal Point. It will feature 32 oceanfront units with luxury amenities, and will cost US$1.8 million for a 3-bed. Also newly built in the North West Point area near Maccabuca is Sunset Point, which is nestled on almost 3.5 acres with over 460 feet of stunning waterfront, this new development offers a variety of units from CI$590K for a one bedroom.

Villa Marbella is a new complex of 12 units on North West Point Road with high-end finishings. A 1500sq ft 2-bed would set you back CI$800k. Annie’s Retreat Villas, set to be a more modestly priced, boutique, private residential development located off Northwest Point Road, is a gated development designed with only 10 villas with prices from CI$389k. Off Sonny Powery’s Drive, you will find Secret Beach, a refuge of tranquil luxury in a walled garden on one of the most beautiful pocket beaches in West Bay. Finally, Dolphin Point Club, a new eco-friendly development that consists of 42 open-plan residences which range from one-bedroom units to fourbedroom villas. All units are either west or south-west facing, providing residents with a gorgeous sunset view every evening. Other amenities tip the luxury scale, as you would expect. The property still has units available as of July 2024, with prices starting at CI$2.2 million.

Camana Bay: OLEA is located to the south of Camana Bay’s town centre. It defines the amenity-rich waterfront neighbourhood. Kapok, a 10-storey, for-lease residential building located towards the north end of the Town Centre on Bismarckia Way, close to Foster’s supermarket, has 89 residences ranging from 561sq ft studios to 1,679sq ft, three-bedroom units. The Terraces offers residents the ‘work, live and play’ dream. With direct access to all of Camana Bay’s renowned amenities, The Terraces offer modern one and two-bedroom apartments.

George Town: ONE/GT, with construction well underway, is a CI$120

million development project, which will comprise a 178-suite hotel and residences. This will be the second 10-storey property development in George Town, and completion is set for early 2025, with pricing starting at CI$589k to CI$4.30 million. A new addition to George Town is Urban Flats, the perfect residence for professionals, and in walking distance to the central business district. Catalina Bay presents a unique opportunity for oceanfront living adjacent to the airport and The Barcadere Marina. Residents will enjoy 800ft of sea frontage and a 170ft freeform pool. Two bedroom units start from US$1.6 million. Scheduled for completion in the summer of 2025 is Kailani, Cayman’s first luxury wellness and business boutique hotel, developed by the NCB group in partnership with the Curio Collection by Hilton™. RIA, an example of contemporary living brought to life, is a gated community with a mix of 42 condos and apartments located off Linford Pierson Highway. Expected to be completed in 2025, it is a three-phase development with one-bedroom apartments or two and threebedroom condos, with prices ranging from CI$395,000 to CI$725,000.

South Sound: The area remains a developer's dream. Close to the now established gated community of Bahia, Q will follow suit with a total of 22 new two-bedroom townhouses with ocean views. Nearby, The South Sound Collection is carefully designed to allow for decadent exclusivity in the heart of South Sound. South Bay Residences by Palmyra Developments offer spacious waterfront living, fitted with luxury amenities in a lush, landscaped setting. Privé by Baraud Development comprises of 36 townhouses and 16 villas nestled within a six-acre South Sound site and just a few units remain priced from CI$785,000.

Grand Harbour & Tropical Gardens: Phase two at Indigo Bay is now selling preconstruction contracts at this luxury development located in eastern South Sound. A few existing units are available at just shy of CI$1.4 million for a 3-bed.

With water views comes Allure which hugs the coastline and features two and threebedroom luxury condos and a wide range of amenities for around the CI$800k mark. Arvia is a gated canal-front complex with docks, and the epitome of modern condo living. It offers luxurious amenities for its residents as Grand Harbour shops and restaurants are seconds away. Prices start at around US$1 million. Aura, a 2022 development, is a modern oceanfront community featuring a 60-diameter circular pool, 75ft lap pool, gym, 120ft private dock, outdoor BBQ and kids play area. Unit sale prices start at around CI$1 million. Close-by Grand Palmyra's provides residents access to a shared pool, garden and seating area. It is also a short walk to the new Harbour Walk Plaza. Harbour Walk Residences, which completed its construction in 2023, offers the high standard of contemporary design and amenities one would expect in Cayman's 'suburbs' post-pandemic. European-style suites range upward from one bedroom and come in six different styles. Residents can enjoy all the extensive retail, leisure, fitness and wellness facilities that Harbour Walk has to offer.

Prospect and Beach Bay: The Lagoons, on Omega Drive in Prospect, offers highquality canal-front living with 13 two and three-bedroom townhomes. Similar, though not on the water, is Serendra. Paraiso phase two's townhomes start at CI$1m for completion in 2025. 31 units of Jaz, located on Poindexter Road, will offer a gated, modern design development and The Landing has 2-bed plus den townhomes starting at CI$435K. Further east, The Residences at Mandarin Oriental, to be located in Beach Bay, will feature 67 acres of private beach and tropical forests. Each of the 89 residences will have panoramic views of the ocean. Preconstruction pricing starts at US$6 million. Residents can expect the same impeccable amenities often found at Mandarin Oriental properties.

Savannah and Lower Valley: With George Town land at a premium, more and

more 2-bed townhome developments are appearing further east. Euphoria's developers are offering pre-construction listings from CI$435k. Lavania Court is a 12 townhome development with pricing now starting from CI$470k. Sunrise Landing will have 42 units and is set to be completed in 2025 with prices starting at $485k. Woodcrest will have 10 units, again each with 2-beds. Prices are currently at CI$439,000.

East End and North Side: The Silver Reef Residences are available with pricing from CI$890k. Beach Groves is a proposed sustainable project that aligns with Leadership in Energy and Environmental Design (LEED) principles. Beach Groves will be in the vicinity of a wildlife sanctuary and prices start at US$1 million. Out in East End is Ocean Vista, located about a mile away from Health City. Now selling Phase III, Ocean Vista offers two and threebedroom units with modern finishes starting at CI$325k. In the pre-construction phase and already 75% sold is Tradewind Villas,

located in beautiful Colliers and offering one and two-bedroom units.

History of Cayman's Real Estate Market

Prior to the 1980s, the Cayman Islands real estate market was characterised by a lack of regulation, inconsistency, and legal safeguards. It was often described as a 'Wild West' environment where individualistic practices prevailed. Recognising the need for a structured and standardised industry, visionary local realtors established the Cayman Islands Real Estate Brokers Association (CIREBA) in 1987.

CIREBA, as a not-for-profit organisation, aimed to regulate the real estate industry for the benefit of all stakeholders — buyers, sellers and realtors alike. They developed a system incorporating elements of the US and Canadian real estate models, blended with local market practices and framed within British Law.

The establishment of CIREBA led to significant advancements, including the introduction of the Caribbean’s first

Multiple Listing System (MLS) and a comprehensive educational programme for brokers and agents. This programme includes entry-level certification, continuing education, a stringent code of ethics, and a comprehensive set of rules and regulations with penalties for noncompliance. Consequently, CIREBA has become known for having the highest standards of professional excellence and represents the largest local network of certified realtors in the Cayman Islands. It serves as a quasi-regulatory body that offers buyers and sellers unmatched assurance. CIREBA's long standing reputation and established commitment to ethics, integrity and excellence of practice provides a trusted and reliable foundation for real estate transactions.

CIREBA's leadership and innovation have been instrumental in shaping the modern Cayman real estate industry, which is widely regarded as one of the most robust and professional in the Caribbean. Built over the last 40 years, CIREBA's reputation

gives buyers and sellers the peace of mind that they are in secure hands.

Today, CIREBA is a thriving organisation made up of over 35 brokerages and more than 300 certified agents, representing the vast majority of real estate practitioners in the country. These established brokers share property listings through the online MLS, their agents collaborate to deliver the best results for their customers, and together they provide a professional, credible and trusted platform for buying and selling local real estate. The CIREBA website www.cireba.com gives buyers access to view all available properties that are listed on the MLS system and the flexibility to work with their preferred agent. The MLS provides sellers with maximum exposure for their listings and the added benefit of all CIREBA agents to share those listings with their potential buyers. As the industry leader, CIREBA collaborates closely with industry partners, regulators and the Cayman Islands Government on real estaterelated matters, ensuring a professional and positive experience for all involved.

Legal Overview

The real estate market in Cayman is simple and straightforward. Apart from a one-time stamp duty payment, there are no annual property taxes or restrictions on foreign ownership by individuals, and titles are granted and guaranteed by the Cayman Islands Government and recorded in a modern, reliable and centralised land registry, where every plot is mapped and given a descriptive title number based on location. Any encumbrances such as mortgages, rights-of-ways and cautions pending contracts are recorded on the title register of the parcel of land. As a result of this, there is no need for lengthy title searches, title companies or title insurance. In fact, title companies and title insurance does not even exist in Cayman. Vacant land can be owned and held for future investment potential. To date, Cayman real estate has proven to be an attractive and profitable investment. Owning land in the name of a corporation is possible,

but strict rules apply and a lawyer’s advice is essential. Buildings are subject to a series of planning permissions and building permit approvals. These are monitored by the Cayman Islands Central Planning Authority and Building Control Unit, which carries out plan reviews and on-site inspections that relate to the site, building, plumbing, mechanical and electrical works. There are also requirements for structural engineers to take into consideration, such as seismic design principles depending on the building heights and purpose of the building. Construction materials have to be imported and are subject to duties that range from 15%-22% on the landed value, which includes duty on the shipping costs. Consequently, the cost of building is considerably higher than in places where materials are more readily available. Refer to the Building in Cayman chapter for a detailed guide on building a residential property, as well as a list of building professionals in the Cayman Islands.

Attorneys are usually used by a foreign purchaser to aid in understanding the difference between our system and what they are familiar with back home. An attorney can also help with more complicated transactions and ensure that the detailed procedures required by the Cayman Islands Land Registry are more easily negotiated. The biggest difference between a purchase here as opposed to most other jurisdictions is the stamp duty, which is a 7.5% fee based on the Cayman dollar price of the property. It is paid to the Government after closing on each transaction in order to register your title and it is normally paid by the purchaser.

OVERVIEW OF RESIDENTIAL AREAS IN GRAND CAYMAN

Seven Mile Beach (SMB)

SMB is divided into two areas: the beach and across the road from the beach, which is known as the Seven Mile Corridor. Both are ideal locations within walking distance of restaurants, bars, nightclubs, shops and Camana Bay's town centre, which has two schools, a new private hospital, Health City Camana Bay. There are many apartment complexes on Seven Mile Beach itself, but most are rented out for short-term, daily rentals. However, some offer long-term rentals like George Town Villas, The Grandview, Sunset Cove, Laguna del Mar, Seagull Condominiums, The Sovereign and The Pinnacle. Monthly rental prices in this area start at CI$4,000, but expect waterfront properties to be significantly more. Areas like Snug Harbour, Parkway, Governors Harbour, Canal Point, Crystal Harbour and the Cayman Islands Yacht Club are all nice places to live and popular with families, though the prices of properties can vary significantly There are many four-bedroom houses in these areas, but you can also find upscale two and three-

bedroom apartments in a few of them. Properties are usually well maintained and business professionals tend to rent or buy them. These neighbourhoods around the Seven Mile Corridor are generally quiet areas, near to restaurants and the beach, and near to two great schools, Cayman International School and Village Montessori.

Britannia apartments are popular and vary in price, but based on the large number of units, you can usually find a motivated seller. Apartments have either canal, pool or park views and the property is within walking distance of Camana Bay and all its great facilities. It has great landscaping, lots of mature trees and they allow pets.

OLEA is a waterfront neighbourhood to the south of Camana Bay's town centre with 124 residences, lovely landscaping, a lazy river and a resort-style pool. It also has shared amenities, including a children's playground, community herb and produce garden and a gym. Conveniently, residents can walk to Camana Bay for the supermarket, cinema or restaurants.

Snug Harbour lies to the east of West Bay Road and is reached from the Esterley Tibbetts Highway. This is a sought-after residential area and is very popular with families. As well as being family and dogfriendly, Snug Harbour has the advantage of being close to Seven Mile Beach and Camana Bay with easy access to George Town and West Bay. The area has two roads, Jennifer Drive and Andrew Drive, which run parallel West-East and finish at the North Sound. There are a number of intersecting roads in between. Much of the residential housing consists of detached family homes with gardens, ranging from modest two-bedroom homes to more upscale, 5/6-bedroom residences. However, there are several apartment buildings and townhouses here too, particularly towards the North Sound. Residents of Snug Harbour enjoy access to the Snug Harbour Park, consisting of a tennis court, pickleball court, basketball court, a children’s playground and a large

grassy park. This is a popular meeting spot for families. Residents can book the courts online.

Palm Heights Drive lies to the south of Snug Harbour and is accessed through the main Snug Harbour entrance. This is another popular residential location. One side of this road lies on the picturesque Britannia Canal, where you can find a number of attractive residential canalfront houses and apartments. The other side of Palm Heights Drive consists mostly of detached family homes, some with beautiful gardens. Palm Heights Drive is often mistakenly considered to be part of Snug Harbour, but this is not the case. Whilst residents here use the Snug Harbour Park and playground, they are not able to book the tennis, pickleball and basketball courts.

Camana Bay

Camana Bay and its Town Centre are situated on 685 acres that stretch from Seven Mile Beach to the North Sound. The design of Camana Bay is based on New Urbanism, a planning model that promotes walkability through a mix of housing, shops, restaurants, public spaces, schools, hospitals and parks. Streets and walkways interconnect, offering a safe and scenic stroll or bike ride, while shady courtyards nurture social gatherings and a sense of community.

Pedestrians can easily access Camana Bay and Seven Mile Beach corridor via the Rise, a pedestrian walkway connecting with the Paseo in the heart of the Town Centre. Designed by a team of award-winning architects and planners, Camana Bay has a contemporary style, inspired by traditional Caribbean architecture and is landscaped with beautiful, mature trees and native plants to give it a distinctly Caymanian

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Camana Bay has become a very popular place to live simply because it welcomes the return to a traditional style of community, with the Camana Bay Cinema, notable restaurants, Foster’s supermarket, a weekly farmers market, doctors’ clinics, banking services, a 24-hour gym, two schools, residential housing and prestigious office space for businesses. Living in Camana Bay is all about the lifestyle. It is incredibly appealing to be able to walk everywhere, particularly if your workplace is located there, have everything taken care of for you and enjoy access to world-class dining and entertainment, including concerts and festivals, shopping and children’s activities right on your doorstep.

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Camana Bay’s location in the heart of the Seven Mile Beach corridor offers the best of

island living. Residents of Camana Bay enjoy seamless connectivity to excellent dining, shopping and entertainment in the Town Centre and along West Bay Road. A short walk over the Rise leads to one of the best beaches in the world.

Kapok at Camana Bay is the newest residential addition to the Town Centre. It is a 10-storey, 120,000-square-foot for-lease residential building with 89 units from studios to threebedroom apartments.

OLEA at Camana Bay presents an exclusive opportunity to live within the award-winning community of Camana Bay. Featuring for-sale condominiums, townhomes, canal front duplexes, and the Island’s first lazy river, OLEA is located minutes from Camana Bay’s bustling Town Centre and Seven Mile Beach.

South Sound is still a hugely popular area and likely always will be. It isn’t surprising given how picturesque the ocean views are here and its proximity to schools, supermarkets and George Town. The area is also home to the Cayman Islands Rugby Club, Tennis Club and Squash Club, a public dock, a government boat launching ramp, beaches and a seaside boardwalk. Some very popular condo complexes in South Sound include The Tides, Vela and San Sebastian, and some very popular subdivisions include The Venetia, The Lakes and The Boulevard.

The Terraces at Camana Bay is a luxury collection of 63 for-lease one and twobedroom apartments (some apartments have a den which could be used as a second or third bedroom) and over 27 different floor plans. Residents at The Terraces enjoy waterfront or island views, underground parking, 24-hour security and access to a rooftop pool two pool areas equipped with showers, bathrooms, seating area and outdoor kitchen.

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South Sound

Cayman Enterprise City has also begun to build their one million sq ft campus in South Sound, which will consist of 100,000sq ft of office space along with residential areas, a school, restaurants and other amenities over a 53-acre site. The first building, Signal House, a 40,000sq ft office space, is now complete and occupied as of March 2024. One downside to South Sound being such a popular area to live is that the traffic during rush hour can be bumper-to-bumper the entire length of South Sound Road. Apart from SMB, South Sound is one of the most convenient and, therefore, expensive areas in which to buy or rent on the Island.

Canal-front Living

There are a number of waterways that cut inland from the North Sound, creating canal subdivisions that are a very nice, more affordable alternative to buying or renting property directly on the oceanfront. If you are planning to buy a boat, you cannot beat the convenience of having a dock right in front of your home or apartment. There are at least 20 canal subdivisions in Grand Cayman, half of which can be found along the Seven Mile Beach corridor and West Bay, and the other half run east from

Prospect to North Sound Estates and the Cays in Rum Point. Canal subdivisions take time to mature and be built out and this will have a significant effect on the values that land and homes in these areas can command. Over time, this will change as various subdivisions develop and it is something to think about when buying. The following is a straightforward and honest overview of the various canal subdivisions, which can be classed into five levels, one being the most expensive and five being the most affordable. Some subdivisions straddle two levels and this invariably depends on specific roads within the area and the quality of the homes and landscaping on those roads.

Level 1: Top-of-the-line estate homes, meticulously maintained with strong covenants and manned security gates. For example, Vista Del Mar, The RitzCarlton Deckhouses, Lalique Pointé, Diamond’s Edge and Salt Creek are first in class in these tier-one communities because of their covenants, exclusivity, attention to detail, well-maintained public open spaces, amenities offered, security and the quality of building. The most expensive, non-beachfront homes are found here. Additionally there is OLEA, which was designed for residents to walk to Camana Bay for work, education and entertainment. The development has beautifully landscaped common areas and access to the highest-quality amenities.

Level 1.5: The non-gated, yet very prestigious, Cayman Islands Yacht Club has benefitted the most from direct access via the Esterley Tibbetts Highway, and residents are taking advantage of its boating facilities and two very good restaurants, Morgan’s and Bàcaro. In due course, a pedestrian trail to Seven Mile Beach will be built. Inside the Yacht Club there is a gated community called Stone Island.

Level 2: Excellent maintenance and services, these are luxury homes with a manned security gate and strong covenants. Crystal Harbour leads this

class of the field and has been one of the most actively developed canal subdivisions on Grand Cayman in recent years. Popular subdivisions within Crystal Harbour include Cypress Pointe, Cypress Pointe North and Solara. Britannia and Britannia Estates are well established and still very well-regarded and a convenient living location. One important consideration, if you are planning on buying land to build on, is that concrete pilings are required in the house foundations of properties in both the Yacht Club and Crystal Harbour. This raises the cost of construction considerably. Crystal Harbour also offers some amenities, including a children's park and tennis and pickleball courts.

Level 3: Good services, mid to luxury level homes, well maintained with good covenants. Canal Point is in this class, followed by The Shores and Mangrove Point, all gated neighbourhoods with evening manned security. Governors Harbour has lost its sheen due to the lack of a landscaping buffer from the Esterley Tibbetts Highway and haphazard road maintenance, but this could change. Other canal-front developments in the area include ONE Canal Point and Clipper Bay, which is located between Snug Harbour and Canal Point.

Grand Harbour is the most conveniently located of the Eastern subdivisions and many of the homes here are high-level properties. There are three distinct areas to Grand Harbour: the older and more developed side called South Reach, which is now a gated community, The Isles and The Estates, both of which have had a lot of recent building. Grand Harbour has been completely transformed by the addition of Harbour Walk, which has restaurants, a hairdresser, gym, offices and residences just like Camana Bay. In addition to the supermarket called Hurley's, which is at Grand Harbour shopping centre, there are liquor stores, a pharmacy, medical and dental offices,

a yoga studio and a school. The very popular skate park behind the Shoppes at Grand Harbour has very sadly closed which is a huge loss to Cayman's children. There is also Arvia, which is a complex of townhouses and condos on the Grand Harbour canal. Aura and Indigo Bay which were new arrivals in 2023, and offer high-end oceanfront condominiums. A little further east, Patrick’s Island has some beautiful homes with mature landscaping and wide, open basins. It also backs onto a huge sway of undeveloped land with numerous dyke roads that lead to the North Sound via inland lakes and are lovely for walking dogs, running and getting away from it all. Patrick's Island has permission to become a gated community, and in late 2024, the gates will be installed. Sunrise Landing rounds out this level. No houses are built in the Cays at Rum Point yet due to navigability issues in the canals.

Level 4: Decent services with mixed mid-

level homes, older subdivisions like Red Bay, Omega and Prospect all have their 'good' and 'not as good' sections. Palm Heights in Snug Harbour has the benefit of looking across at Britannia, but this area contains mainly duplex properties. Canal subdivisions in this level include Palm Heights, Omega, Sunrise Landing and Newlands Sound. New canal-front developments include Paraiso in Grand Harbour and The Lagoons in Omega Bay. Finally, Ocean Crest and Allure, in Tropical Gardens, are two new oceanfront complexes.

Level 5: Minimal maintenance and either no covenants or these are not enforced. Mid-level to lower-value homes, but most still to a very reasonable standard. All these subdivisions are similar, mixedquality developments. The developers are now deceased, so there is no consistent, ongoing maintenance undertaken. North Sound Estates is farther out but has been quite active due to pricing. Some homes are very nice, but there is too much debris around, which keeps prices down. Canal subdivisions in this level include Red Bay, Prospect and North Sound Estates, all of which straddle levels 4 and 5, depending on which street you are looking at.

Prospect & Red Bay

P ROSPECT & RED BAY

Prospect and Red Bay, which are right next to each other, are two of the fastest growing areas in Grand Cayman. They are close to George Town, various schools and the Shoppes at Grand Harbour and Harbour Walk, which both have various stores, a school, restaurants, a pharmacy, a large supermarket, Hurley’s Marketplace, and a skate park. Harbour Walk, which is right next to Grand Harbour, is a mix of residential and retail, and includes shops, restaurants and amenities, such as a gym

and a rooftop with a jogging track and fire pits. There are also two banks in the area, as well as the Department of Vehicle and Drivers Licensing, the Cayman Islands Sailing Club, King’s Sports Centre and Powerhouse Gym, the Prospect Playhouse and the Stingray Brewery. The district also has five schools, including Prospect Primary School, Red Bay Primary School (which are both Government schools), First Baptist Christian School, Montessori by the Sea and Hope Academy (which are private schools). Currently being built in the area is a large garden centre which will sell plants, ornamental fish and lots of accessories for the garden and pond. There is also an area with food trucks, a Burger King, a couple of jerk centres, a Popeyes restaurant and a Tim Horton's which is soon to open. A large commercial and residential project, still in the planning stages, is situated to the south of the Cayman Islands Brewery. The commute to town from this area is relatively quick (10 minutes) outside of rush hour, but at the height of rush hour, it can take over 30+ minutes. There are lots of residential homes in this area with a mix of inland, canalfront and oceanfront properties. Newer developments in the area include Grand Palmyra, Arvia, Periwinkle, Paraiso, Aura and Indigo Bay. There are also a few really nice areas to look out for in Red Bay and Prospect. The first is Prospect Point Road, a quiet beachfront community found on a winding road where longtime Cayman residents have built exclusive milliondollar homes. The second area is Patrick’s Island and the third is Grand Harbour. For more information on these two areas, see the Canal Front descriptions.

West Bay (WB)

western end of the Island with a long meandering coastal road around the top of it and a maze of narrow streets running through the middle of it. There is a huge mix of different properties, from luxury oceanfront homes and apartments to island cottages and some rather rundown and tired properties in the middle. The canalfront area called The Shores commands premium prices on rentals and sales, as do properties on Boggy Sand Road, the last residential neighbourhood remaining on Seven Mile Beach. There are many new developments in West Bay, especially on the North West Point corridor, including Dolphin Point, Serrana, Sea Dreams and Point West 8. Other newer developments in West Bay include VIDA, Oceans 9, Salt Air Townhomes, The Meadows, The Waves, Secret Beach, Blue Palms, Sunset Point, Villa Marbella, SAJE, Sky Lofts, The Point at Watercourse, Annie's Retreat, Emerald Point, 19 North, and ARZA. Acclaimed restaurants in West Bay include Bella Trattoria, Calypso Grill, Cracked Conch, Macabuca, Tukka West, Nova, Ristorante Pappagallo and VIVO. The Cayman Turtle Centre is in West Bay, as is Cemetery Beach for amazing snorkelling. The diving from the Cracked Conch restaurant and from Lighthouse Point nearby is also very popular. Divetech, the on-site dive shop at Lighthouse Point, is welcoming and friendly staff can explain where nearby dive sites are located. They can also take you to the Kittiwake shipwreck. Schools in West Bay include Grace Christian Academy, Wesleyan Christian Academy, and the West Bay Government Primary. Two new high-end preschools are being built in West Bay; Montessori West and Kiddiewinks Garden Playschool.

West Bay is a residential area at the top

You can go horseback riding and bicycling along a rugged and little-travelled beach called Barkers, which spans part of the northern tip of West Bay. Barkers Beach is a nice area to get away from it all and is popular with dog walkers and kite surfers. Note: The area is closed to vehicle and pedestrian traffic from sunset to sunrise. It currently takes about 10-15 minutes to drive from West Bay to George Town using the bypass.

GE ORGE TO WN

George Town is the capital of the Cayman Islands. It is located on the southwest corner of Grand Cayman and has a busy port, with an influx of several cruise ships almost daily and cargo ships unloading most evenings. The main roads in George Town are North and South Church Street, which run parallel to the sea. Smith Road, Shedden Road and Eastern Avenue cut through town and run down to the waterfront roads off North and South Church Street. It is a good area to live in if you have school-aged kids, as the main schools are on Smith Road and Walkers Road and are five minutes from the town centre. With increasing traffic levels, it means you will avoid the main rush hour traffic. Private primary, prep and high schools in George Town include CF School, Footsteps, Island Primary, Cayman Prep and High School, St. Ignatius Catholic School, Triple C, Cayman Academy, Calvary Baptist Christian Academy and Truth for Youth. There are many preschools in the area, including the award-winning Little Trotters, three Montessori schools (Montessori Del Sol, Island Montessori and Montessori School of Cayman), Precious Gems, Discovery Kids, Miss Nadine's, St. George's, Shining Stars, Sister Janice's, Sprogs and Tiny Tots. A lovely, gated neighbourhood off Walkers Road where houses occasionally come up for sale is the upscale Webster’s Estates. All the homes sit on larger than usual plots, have mature shade trees, large gardens and are architecturally designed. No apartment complexes have been allowed in Webster’s Estates, so there is a quiet community and family feel to the area. On the apartment front, there are many condominiums for rent off Walkers Road starting at about CI$1,500 for a

studio, CI$1,800-CI$2,500 for a onebedroom apartment, above CI$2,500 for a two-bedroom unit, and over CI$3,300 for a three-bedroom townhouse. Some of these apartments look and feel dated, so it is worth looking around and not getting discouraged, as there are some gems as well. A few of the well-established properties include the three Retreats (Garden, Sunset and Coco), Secret Gardens, Hilton Estates and the L’Ambience complex off Fairbanks Road. These are mature-landscaped familyoriented complexes and pets are allowed. Newer options are Vivi, Downtown Reach, Ria, The Bentley and Urban Flats. Urbana is a brand new multi-amenity complex of 160 units next to Downtown Reach by the same developer, with the first phase due for completion in early 2025. For high-end luxury, view Casa Luna, SeaView, Oceana and FIN. All are on the waterfront in George Town and offer luxury living for upwards of CI$2 million. Other new developments are Catalina Bay and ONE|GT

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This is another area with both inland and canal-front properties. Sunrise Landings and North Sound Estates (both canalfront areas) fall within Savannah and Lower Valley. These areas are very popular with young families as land is still affordable. You can also easily find canal-front house plots for sale at a reasonable price. Inland, you will find that properties on the market in this area are family homes on larger plots with good-sized gardens and lovely shade trees. Savannah is one of the highestelevated areas of Grand Cayman. From late May to early August, the poinciana trees of which the area has an overwhelming abundance, flower and the sight as you

(on behalf of

and

George Town (GT)

drive through Savannah is breathtaking. Pedro St. James Castle, a national historical site and the oldest-existing structure in Cayman, is also located in Savannah. Countryside Shopping Village, located at the roundabout where the road intersects between Savannah, Pedro and the entrance to Newlands, is the largest central shopping hub in the area. This village of shops has a Foster's supermarket, CNB bank, large pharmacy, medical clinic, liquor store, hardware store, gym, veterinary clinic, dry cleaners, several restaurants and a few other useful stores. Country Corner, next door to Countryside, has additional locations for Cimboco, Chicken! Chicken!, Cafe Del Sol and GNC.

Beach Bay

Bodden Town

BODDEN TO WN

Those who venture out to Bodden Town love it. It is on the beach, away from the hustle and bustle, and the rents are in the low to mid-range. The community still has the feel of a small Caribbean town, with a mixture of locals and expats living alongside one another. The beaches are rustic, usually littered with driftwood and dried turtle grass and are lovely places for walking dogs. Although the impression of a long commute may keep the fainthearted away from Bodden Town, it takes just 20-25 minutes to reach George Town if you leave early or late enough to miss the rush hour traffic.

Frank Sound & Cottage

BEA CH BA Y

Beach Bay is on the right just before you get to Bodden Town. It has one of the highest elevations on the Island. If you drive all the way down Beach Bay Road, you’ll find Sea Spray Drive, a coastal road with fabulous houses and apartments. One end of the road has a very private but rocky beach, and the sunsets over the Bluff at the other end of the coast road are amazing. The Residences at Mandarin Oriental, which will be constructed here now that the very drawn-out planning process is complete, will feature 66 acres of coastal gardens linked by nature trails and 700 feet of pristine white sand beach. It will sit atop one of the highest elevations in Grand Cayman, also known as St. James Point. Each of the 89 residences will have panoramic views of the ocean due to the expansive terraces that blend indoor and outdoor living. Residents will enjoy amenities such as in-residence dining services, a racquet club with tennis and pickleball, multiple adult and family pools and a wellness and yoga centre.

Frank Sound crosses inland as you drive towards Rum Point. It has affordable homes with large properties, and the land is very fertile with mature shade and fruit trees. Another huge bonus of this area is the Queen Elizabeth II Botanic Park and the Mastic Trail, both of which are great to explore and located just off Frank Sound Road. It is also the location of the Clifton Hunter High School. This is a great area for those that work at Health City.

North

Side & East End

This is a beautiful and historical part of the Island. On the way to these eastern districts, you will pass Pedro St. James’ Castle in Savannah, the Queen Elizabeth II Botanic Park in Frank Sound and the Wreck of the Ten Sail in Gun Bay. The residents in North Side and East End are said to be the friendliest in Cayman. The commute time from either East End or North Side to George Town will take at least 40 minutes without traffic. Over the Edge restaurant, in the village of Old Man Bay, serves great local seafood cooked with a French influence. Their catch of the day is always good, as is their shrimp cooked in a Chablis sauce. Other restaurants include The Caboose (previously Kurt's Korner), which offers grilled fish, stewed beef and oxtail. There is also an Italian restaurant located by Foster’s supermarket in East End called The Italian Kitchen, which provides good, basic Italian cooking, but is not open for lunch and doesn’t take reservations for the evening. In the heart of East End is La Casita, Tukka East and Eagle Rays, the latter of which is located at Ocean Frontiers. Finally, Vivine’s Kitchen, located on the water, is a rustic little restaurant with good local food served on tables set up in Miss Vivine’s garden. It is packed on Sundays. Fun things to do in the area include diving with Ocean Frontiers, walking the Mastic Trail (bring bug spray, water and good walking shoes), snorkelling off the North Coast (remember it is a marine park, so don’t break anything off or take anything home with you), exploring the Crystal Caves, beachcombing deserted beaches, kiteboarding, sailing or renting a jetski from White Sand Sports at the Wyndham Reef Resort.

Living on North Side

Life on the north coast involves a long list of trade-offs. Although the distance from Town has helped keep the old-time Cayman lifestyle, it is inconvenient for trips to Seven Mile Beach, the airport etc. The prevalent onshore trade winds, which bring cool temperatures most of the

FRANK SOUND & CO TT AG E

NORTH SIDE & EAST END

year, also bring salt to coat windows and degrade electronics. On the flipside, the lack of neighbours means a lack of ambient light and great conditions for star gazing. Living in North Side can feel like being perpetually on vacation. Almost every house, drive or walk involves a sea view and holiday atmosphere, and many houses are owned by long-term visitors, who have been visiting Cayman on vacation regularly for 20 or 30 years. Others are short-term vacationers staying at The Retreat, Island Houses, The Rum Point Club Residences, Kaibo Yacht Club Villas or The Pools of the Kai Condominiums. Residents of other districts, particularly boat owners, often go for staycations in Rum Point/Kaibo houses, especially over long weekends. Many full-time residents in the area are also retired, so very few commute into Town to work. The journey takes about 50 minutes, but this depends on rush hour traffic. Other residents work locally, primarily in the tourist/hospitality industry. Being relatively far from town means that some forward planning is needed for routine activities. Without a list, one is fated to 'pop back' at least as far as Countryside Shopping Village to pick up forgotten items. It would be remiss not to mention the well-stocked Chisholm's Grocery (Tel: (345) 947 9418) on North Side Road for basic needs, but organise your main, weekly errands to make sure they all get done in one trip.

Rum Point

RUM POINT

Rum Point has a beautiful stretch of beach and faces the North Sound. It has shade, clear waters, exclusive million-dollar homes and some more affordable condos. The Rum Point Club can be reached by car, ferry or private boat and is a great place to hang out in hammocks, eat lunch

at a picnic table and swim or snorkel in the safe and shallow water right in front of the sun lounger area. On Sundays, the place is jammed and sometimes lots of boats are moored off the beach. Nice things to do in the area include paddleboarding, water skiing, kayaking, sailing and taking a boat to the Sandbar to see the stingrays. You can also fly fish the mini sandbar on the Eastern side of the lagoon entrance and take a bioluminescence kayak tour with Cayman Kayaks on a moonless night. The commute to George Town will take just under an hour. The nearest supermarket is Chisolm's on North Side Road and there is also a Foster’s Express, opposite The Wyndham Reef Resort in East End. The luxury development in this neighbourhood is the Rum Point Club Residences, which overlooks 500ft of pristine Caribbean oceanfront. This boutique hotel features accommodations with private balconies, gourmet kitchens and king-size master suites. There's a chic lobby-lounge, spa treatment room,

infinity pool and a private dock. Exquisite meals and bespoke cocktails are served in the lobby bar, as well as room service. With the advent of working from home, many people live in Rum Point now and only commute to town twice a week.

Cayman Kai

Cayman Kai is just beyond Rum Point. There is a holiday home feel about the area and life is centred around the beach. There are many luxurious houses and a few upscale apartments on the water. Prices in this area are high for large private homes, but there are two-bed condos at the Kaibo Yacht Club that rent for around CI$200 per night. Some residents treat themselves by renting a house or condo here for the

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weekend. Call Cayman Villas (Tel: (345) 945 4144) to see what vacation rentals they have available. Great restaurants include the chilled-out Kaibo Beach Restaurant and the upscale Upstairs at Kaibo, which has a superb rum collection and a tasting menu with wine pairing. Kaibo also has a coffee shop and sells ice and fuel for cars and boats. The commute into George Town at rush hour will take well over an hour.

OVERVIEW OF RESIDENTIAL AREAS IN CAYMAN BRAC

The most easterly of the Cayman Islands, the Brac, is about 12 miles in length and just over a mile in width. Early Scottish fishermen who settled here gave the Island its name. Brac is Gaelic for bluff, named after the limestone ridge, and it runs down the centre of the Island, reaching an elevation of 150ft at the eastern end. This is also the highest point on all three Islands. The friendly Brackers share their Island with over 200 different bird species and numerous iguanas. The dramatic scenery and rugged terrain boast a plethora of hidden caves and winding trails that the whole family will love exploring. The atmosphere is tranquil, crime is almost non-existent and the people are friendly and welcoming. Cayman Brac is also famous for its superb diving, which should not be missed. Cayman Airways flies to Cayman Brac from Grand Cayman multiple times a day on a Saab SF340, which seats 30 passengers and a DeHavilland DHC-6 Twin Otter, which seats 17. Prices average CI$75-86 each way. Cayman Airways also has weekly direct jet flights from Miami. Residential construction is very good; hurricane building codes are enforced and foundations are made of poured concrete or block. There are no import taxes on building materials. There is a good selection of excellent registered contractors, subcontractors and tradesmen available locally. There are local lumber and hardware suppliers and just about all materials for building can be purchased

locally, except for custom finish items. There are excavating contractors and equipment available, all very usable for special landscaping work. Custom items and furniture may be purchased from either Grand Cayman, Miami or further afield and imported.

Cayman Brac Power and Light is the electricity power provider and utility rates are subject to government approval. There is a local base rate and the fuel surcharge is calculated on a monthly basis and can vary greatly. Inquire for the latest rate sheet. The Water Authority - Cayman delivers water by tank truck to your water storage system (cistern). Base rates for water are subject to variation due to monthly fluctuations in energy costs. Water quality is excellent and exceeds local, international and WHO standards. Inquire for latest rate sheet. Propane gas is delivered by Home Gas. Telecommunications are provided by Digicel and FLOW. Telephone service is excellent and very reliable. Internet is quite reliable and supports the new streaming television subscription services rolled out by both Digicel and FLOW.

Stake Bay

In Cayman Brac’s West End, you will find the airport, two grocery stores, a gas station and a couple of condo complexes. Hence, the north shore of the West End has the highest population of residents on the Island. The famous Russian wreck dive, renamed M.V. Captain Keith Tibbetts, lies just offshore. The Cayman Islands Department of Tourism Information Centre is located here, as well as the West End Primary School (also a Government hurricane shelter) and the Island’s only airport, Charles Kirkconnell International Airport.

On the north side, Stake Bay roughly refers to the middle section of the Island. Stake Bay is the capital of the Island and is where you will find the main Government building, the hospital, the museum, a grocery store and the Island’s only high school – the well-respected Layman E. Scott Sr. High School.

The Bluff

THE BLUFF (Ca yman Br ac )

The Island’s gentle ascent eventually leads to the limestone cliffs, which are its namesake. A lighthouse crowns the 150ft tall seaside edge of The Bluff. The birds circling overhead may eventually lead you back inland to the ancient woodlands of the Brac Parrot Reserve. It is home to many endemic flora and fauna species of the Cayman Islands. The Bluff has seen a significant increase in housing developments, and it also has the Government-owned Cayman Brac Day Care Centre. In the central part of the Bluff is the Government's sports facility, which has a 25-metre pool that is used for local swimming education and also hosts national competitions. There is also a FIFA-approved football field.

Eastern Districts

Continue east to Watering Place, Creek and Spot Bay and you’ll find a true Cayman Brac welcome. 'Mom and Pop' stores and small local restaurants showcase authentic souvenirs and

West End

W EST END (Ca yman Br ac)

STA KE BAY (Ca yman Br ac )

traditional Caymanian fare. The Cayman Brac Heritage House is located between Creek and Spot Bay and complements the Cayman Brac Museum, offering re-enactments of our country’s past, with displays showing how islanders used natural resources to create houses and tools. There are two primary schools, Creek Primary School and Spot Bay Primary School, in this area.

In a nutshell, Little Cayman is a diver's paradise that is a short flight from Grand Cayman and offers a safe, slow and friendly island living experience. It is truly little but is not a miniature of Grand Cayman; it does not offer urban comforts such as city water and recycling. Only 10 miles in length and one in width, there is a permanent population of fewer than 200, but this can mushroom to 400 on New Years’ Eve.

The Island does not have a town as such, but it has one grocery store (that sells liquor), one coffee shop, one gas station, one bank with one ATM and one clinic with one nurse (but no hospital, doctors or dentists). These are all located near the Edward Bodden Airfield on the West. All the hotels make fresh water by using a seawater reverse osmosis system. Residents support their grocery store and acknowledge that items cost more than in Grand Cayman, but they know they need to support the local economy. For special dietary items, or in the event of a storm, it is advisable to take an ice box full of perishables on the plane from Grand Cayman, as the barge that connects Little Cayman to Grand Cayman may not be able to cross the seas. Flights run 3-10 times a day, depending on the time of year, cost approximately CI$85-$100 each way, and take 35 minutes to fly directly on a Twin Otter plane (17 passengers) or you can go via the Brac. Passengers can take up to 55 pounds in weight (that can be split into two pieces). Supermarkets such as Foster's, Kirk's, Hurley's and Cost U Less

may organise items to be delivered directly to the airport in Grand Cayman for air freight to Little Cayman. The barge goes to Little Cayman once a week and takes supplies to the Island, but bad weather can delay its crossing. Since items go by volume, residents will typically fit items, such as toilet paper, inside the cars or boats. We are told clearing customs is easier than in Grand Cayman, and for items purchased in the USA, items will ship directly there, bypassing Grand Cayman. Power cuts occur every now and then, but residents learn to live around it, as they typically last only a short time. Similarly to Grand Cayman, electricity is generated through burning diesel and a truck delivers propane gas for home cooking. There are one to two mechanics on-Island that deal with most auto problems. Air conditioning and appliance technicians need to be flown there, with the caller paying for the flight, plus any accommodation costs if necessary. A mosquito control plane flies over the Island to control these insects, although

Hampson

when breezy, the problem is felt less. Water is collected from rain, and when not possible, residents purchase it from local hotels.

West Side of Little Cayman

The Island’s most famous diving destinations, the Bloody Bay Wall and Jackson Wall, are both on the north side of Little Cayman and are easily accessible by boat to divers staying at any of the resorts or villas in the area. There are a number of good options, including the Southern Cross Club, Little Cayman Beach Resort, The Conch Club and Paradise Villas. Most of the accommodation is within walking distance of the Edward Bodden Airfield. The Booby Pond is also the only RAMSAR site in the Cayman Islands (an internationally recognised and important wetland) and home to the red footed booby bird. The indigenous Sister Islands’ Rock Iguana also roams freely on the Island.

and Company

Attorneys at Law

Real Estate Lawyers, Legal Conveyancing and General Practice

Hampson and Company advises on all aspects of real estate in the Cayman Islands, whether you are buying, selling, leasing, financing, re-financing or seeking to enforce security against real estate.

We provide advice on the purchase and sale of real estate, including all types of residential and commercial properties, strata properties, and undeveloped land. We also offer advice on pre-construction contracts, the drafting of strata by-laws, and on incumbrances on title.

We conduct due-diligence searches in respect of property purchases and liaise with local banks to assist with the mortgage/charge process.

Side of Little Cayman

Heading up the road away from South Hole, the Island becomes more and more of a deserted paradise with just a small number of houses scattered along the coastline. South Hole Sound is at the border of the two areas, and the beautiful South Shore provides stunning views on the way to Point of Sand at the eastern end of the Island, where you can gaze across the water towards Cayman Brac. Point of Sand is located at the very tip of Little Cayman and is probably one of the most beautiful beaches in the Caribbean. The sea is crystal clear and incredibly inviting. Pack a lunch and bring your bathing suit and towel to enjoy some time in the sun, sand and surf, quite often with no one in sight.

BUYING A PROPERTY

Buying a property in Cayman has many advantages, not least that if you are staying for some time, mortgages tend to work out cheaper than rent over a three to five-year period. There are no restrictions on foreign ownership of real estate if the property is for personal use and there are no annual property or capital gains taxes. If the property is rented out as an investment, then no tourist tax is payable if the property is rented to residents

• Property Contracts

• Planning and Preconstruction

• Strata Regulation

• Leases and Licenses

• Residency by Investment

• Wills and Estate Management

• Property Holding Vehicles

Although, if more than two properties are owned for rental, there will be additional licences required, namely a Trade and Business, and a Local Companies (Control) Law Licence. Cayman’s Land Registry office enables transfers to be relatively quick and simple, but for peace of mind, it's best to use an attorney. Every piece of property is registered under a unique block and parcel number, which means every owner is registered and the Government guarantees the accuracy of the entries recorded at Lands and Survey. A potential purchaser may examine the records regarding any piece of property to check whether there are any liens, charges or restrictions on it. Unless stipulated within the covenants for a particular development, there are no time deadlines for building on raw land. The land can be held undeveloped indefinitely and many families are land banking for future generations. Planning approvals are valid for five years following the grant of planning permission. It's been over four years since COVID-19 upended global supply chains of building materials and drove up prices and slowed the availability of products and materials. Builders in Cayman say that problems still persist, but developers and individuals are still building and the industry is healthy.

Stamp Duty & Other Charges

Stamp duty, which is payable on all conveyances or transfers of any immovable property (other than those between certain family members as set out in the Stamp Duty Act for natural love and affection), is 7.5%. However, for Caymanian buyers there are some concessions. See the table on the opposite page. For more detailed information on how stamp duty is applied, and can be paid, visit www.caymanresident.com and search 'stamp duty.'

In 2021, the Government changed the approach to assessing

Stamp Duty on pre-construction properties. Until 2022, that duty was calculated on the published developer’s price at completion. Note: The law has not changed, just its interpretation. Stamp duty has always been charged on the purchase price or on the market value, whichever is higher, as assessed by the Lands and Survey Department. As real estate prices have gone up, it is very likely that a pre-construction property, with a purchase agreement signed one or more years prior to completion, will be assessed by officials to be worth more than the agreed purchase price. An alternative to the unknown appreciation costs is to pre-pay the 7.5% stamp duty, but in that case, purchasers run the risk of the development not going ahead and stamp duty fees are not refundable! There are potentially additional charges as well:

> 1% stamp duty charged on mortgages of CI$300k or less and 1.5% stamp duty charged on mortgages of more than CI$300k. You should also budget up to 1% for legal and registration fees.

> When you build a house, building permit fees are charged according to the square footage of the property being built.

> When purchasing with bank financing,

the bank will require a report on the ‘market value’ of the property. Each lender has its own rules, but the report will need to be prepared by an approved firm of professional valuation surveyors. Depending on the property size, prices start at CI$725 for this report.

Know Your Client/Customer

Remember, the sale or purchase of real estate in the Cayman Islands constitutes as Relevant Financial Business for the purposes of Cayman’s anti-money laundering measures. As part of the Know Your Client/Customer (KYC) requirement, your real estate agent, or any professional acting in relation to a real estate transaction, is required by the Cayman Islands Government to collect your identification details as well as other relevant information to finalise the transaction. Individuals must provide certified photo ID (typically a passport), address verification (like a driver's license or utility bill), and disclose the source of funds and wealth. For companies, corporate seals are required, as well as forms of identification for its directors and beneficial owners holding 10% or more of the company's shares. If you need further

information about these requirements, please contact a legal conveyancing professional.

Stamp Duty Exemptions on Chattels Stamp duty is not charged on the furnishings or chattels of a house. If you are not entirely sure how to calculate the value, then contact the Lands and Survey Department (Tel: (345) 244 3420). Check out their website at www.caymanlandinfo. ky for more information.

Legal Conveyancing

Conveyancing is the technical word used to describe the way a property is legally transferred from one person to another. Technically, you can do the conveyancing yourself, but if the property is being bought with a mortgage, your lender will insist that you use a lawyer to confirm that the property is free from any liens or other encumbrances and to draft the appropriate charge documents. A few law firms in Cayman have departments that specialise in conveyancing. Their job is to prepare the paperwork for your mortgage and property transfer. They check that there are no encumbrances such as a mortgage lien, outstanding strata

payments or anything else that would hinder the purchaser's use and enjoyment of the property. They usually charge 1% of the property value unless a different figure has been negotiated. A typical simple transfer of land takes no more than three to four weeks, with registration of the new proprietor at the Land and Survey Department taking place four to six weeks after that.

Appleby

Tel: (345) 949 4900

Email: cayman@applebyglobal.com www.applebyglobal.com

Appleby is a leading provider of property services in the Cayman Islands. Their property team provides expert legal advice on all aspects of commercial and residential property, including sales and purchases, leasing, development and property finance transactions. SEE AD PAGE 151

Campbells

Tel: (345) 949 2648

Comprehensive Home Inspections Include:

Email: llee@campbellslegal.com

www.campbellslegal.com

Campbells handles all aspects of property transactional work, from sales and purchase to conveyance and related residential and commercial financing for both individuals and corporations. SEE AD PAGE 157

FrancisGrey

Tel: (345) 815 2800

Email: cayman@francisgreylaw.com

SEE AD PAGE 56 & 64

Hampson and Company

4th Fl, Apollo House East, 87 Mary Street, GT

Tel: (345) 623 7788

Email: pparker@hampsonandco.com or kmclaughlin@hampsonandco.com www.hampsonandco.com

Hampson and Company has an experienced real estate team who are available to advise in all aspects of real estate in the Cayman Islands, whether you are buying, selling, leasing, financing, re-financing or seeking to enforce security against real estate.

SEE AD PAGE 59, 161 & 225

HSM

Tel: (345) 949 4766

Email: property@hsmoffice.com

HSM’s property team are always accessible during fast-moving transactions, providing comfort and certainty to clients regardless of what side of the property transaction they are on. They act for financial institutions, developers, strata corporations, buyers/ sellers and landlords/tenants of residential and commercial properties.

SEE AD PAG E 57, 89, 162 & 164

Why Inspect?

Exclusive Advocate for Buyers

Objective Facts About the Home

Know the ‘True Condition’ of the Home Before You Buy

McGrath Tonner

Tel: (345) 623 2740 or (345) 949 2740

Email: info@mcgrathtonner.com

Stuarts Humphries

Kensington House, 69 Dr Roy’s Drive, GT

Tel: (345) 949 3344

Email: info@stuartslaw.com

www.stuartslaw.com

A Cayman focused law firm that advises on the lease, purchase, sale and development

of commercial and residential properties in the Cayman Islands, including hotels, large commercial buildings and residential units and land developments. Stuarts also advise banks and other institutions and individuals in connection with mortgage financing, joint property ventures, and landlords and tenants in connection with long term leases and shortterm tenancies. SEE AD PAGE 66

Mortgages & Borrowing

Most banks and financial institutions in Cayman offer mortgage packages. Interest rates are quoted based on the KYD and USD prime rate published in the Cayman Islands by the retail banks. The prime rate in Cayman normally fluctuates in accordance with changes in the United States Government Federal Reserve rate, also referred to as the 'New York Prime Rate'. Banks usually ask for deposits of between 10%–35% as a contribution towards the purchase price or construction cost. Long-term interestonly mortgages do not exist in Cayman. Mortgage amortisation terms are normally offered from 15-30 years, but typically don't exceed retirement age. It is worth comparing what kind of deal the different banks will give you, as a variance of 1% or even 0.5% on your interest rate will make an enormous difference. Banks will usually charge between 1% and 3% above the prime rate, giving the lower percentage rate to those with the greater deposit. Banks also charge a commitment fee of up to 1% of the loan amount and some charge an early repayment penalty. Establish a meeting with your chosen bank to determine the best possible rate and terms that can be offered. Cayman banks have historically been very cautious when lending money.

Life Insurance Required for Mortgages

A Property Insurance Policy collaterally assigned to the bank is required for all mortgages. Turn to page 136 in our Settling In chapter for a list of insurance companies and brokers. Many banks will also require a Life Insurance Policy so the

mortgage can be repaid in the event of death. Your loan officer will advise on their bank’s specific requirements.

Juliet Osbourne - Life Insurance

Tel: (345) 916 0500

Email: juliet@julietosbourne.com www.julietosbourne.com

Juliet is a life insurance expert specialising in finding competitively priced policies to cover your mortgage, protect your family, or safeguard your income. She ensures you get the best plan tailored to your lifestyle and budget while making the process easy to navigate. Contact Juliet for a quote by phone or email.

Michael Webster – Life Insurance Agent

Tel: (345) 925 5433

Email: michael.webster@cic.com.ky www.lifeinsurance345.com

Michael Webster offers services in the Cayman Islands for the protection of both your mortgage and family. He offers term life, universal life and whole life policies, plus college saving plans, child savings plans and more. All of his insurance products are affordable and can be customised to suit your needs and budget. SEE AD PAGE 139

Strata Titles

Residential property in Cayman is often sold as part of a strata plan if it is in a condominium or apartment complex. Most countries have the concept of freehold property, where the owner has ownership and responsibility for the land they own and all buildings on it. Strata ownership is less familiar to many people, but very common in Cayman. The following is an explanation of how it works:

> If you buy a property that is part of a strata plan, you will have the registered title of the house or apartment that is situated within the property in the plan. You will also own a share and have voting rights in the ‘strata corporation’ which owns all the land in the strata plan, including estate roads, communal gardens, shared pools, etc.

> The strata corporation has an obligation to insure the strata property and maintain

it for the benefit of the owners, along with the right to recover the costs of doing so from them. There will be rules and regulations governing how the strata company is run (known as strata by-laws) and an annually elected committee that is authorised to run the corporation. Examples of monthly strata fees you might expect to pay are: CI$300 for a twobedroom inland townhouse and CI$400 for a three-bedroom inland apartment. Factor in at least the same monthly amount again for property insurance. For condos along Seven Mile Beach, one could easily pay upwards of CI$1,000 before insurance and a mandatory CI$65 sewage charge. Your realtor will be able to find the exact strata fees for you.

Property Valuations & Appraisals

Whether applying for a mortgage, or purchasing or selling a property, it is customary to instruct an independent valuation surveyor who is a registered valuer, chartered surveyor and member of the Royal Institute of Chartered Surveyors (RICS) to carry out a valuation report. The report provides an independent opinion of value using different methods depending on the type of property. The Valuer will carry out an inspection of the property, take photographs and produce a report detailing the description, location, leasehold or freehold information, comparable evidence of recent sales, market rental values and, in some instances, build costs and land values. It provides a purchaser or owner with invaluable data as well as current market conditions and trends. In addition to meeting the bank's requirements, a valuation should also provide the purchaser or owner with the reassurance of the fair market value of the property.

BCQS International - Property & Development Consultants

2nd Fl, Whitehall House, 238 North Church St, GT

Tel: (345) 949 8644

Email: info@bcqs.com or www.bcqs.com

BCQS is a firm regulated by RICS. They offer

a comprehensive range of services, including project management, cost management, quantity surveying, construction management, claims consulting, valuations and appraisals, project monitoring and feasibility studies.

Blue Point Consultants

Tel: (345) 525 0706

Email: info@bluepointproperty.com

www.bluepointproperty.com

RICS registered valuer offering property valuations, development appraisals, feasibility studies, acquisitions and disposals, consulting on landlord and tenant issues, property searches, reinstatement cost for insurance purposes and loss adjusting. Specialising in hotels and resorts. SEE AD PAGE 168

Bould Consulting

Tel: (345) 946 6063

Email: info@bcl.ky or www.bcl.ky

With over 50 years' of working throughout the Caribbean, Bould Consulting Limited is a RICS regulated firm comprising a team of highly skilled property professionals who provide

Our experienced and professionally qualified team provide robust land and property valuations at reasonable fees with quick turnaround time, accepted by all lending institutions, with regular visits to Cayman Brac and Little Cayman.

a comprehensive range of construction, development and appraisal services, including market and insurance reinstatement valuations and construction monitoring services.

SEE AD PAGE 165

Charterland

Tel: (345) 525 2214

Email: info@charterland.ky www.charterland.ky

Charterland Ltd. is a Chartered Surveying practice and RICS Regulated Firm providing a comprehensive range of professional property related services with integrity and independence, and in a timely manner. Professional services include: valuations and appraisals, feasibility studies, quantity surveying and cost consulting.

disciplinary construction consultancy providing valuation and appraisal, quantity surveying, architectural, project management, interior design and property management services

SEE AD PAGE 211

JEC Property Consultants Ltd.

96 Mary Street, George Town

Tel: (345) 945 5930

Email: contact@jec.ky or www.jec.ky

Services include property valuations/ appraisals, home buyers reports, development appraisals and feasibility studies, construction cost estimates, residual valuations, investment valuations, reinstatement cost assessments for insurance purposes, assessment and negotiation of compensation for compulsory purchase, market rent valuations and valuation of leaseholds. SEE AD 166 & 208

Quayside Surveyors Ltd.

Tel: (345) 938 0662

Email: info@quaysidesurveyors.ky www.quaysidesurveyors.ky

valuers. Services include freehold and leasehold valuations, reinstatement valuations for insurance purposes, development appraisals, residual valuations, road compensation claims, construction cost estimates, project management and loss adjusting.

Pitfalls to Avoid

Steer clear of these financial pitfalls when buying property in Cayman:

> Water Bills: Make sure the final water bill on the property has been paid by the previous owner. Water companies are under no obligation to reconnect water supply to accounts that have been disconnected due to non-payment and still have unpaid, past-due charges. Renters are also encouraged to ensure previous water bills have been paid for by the landlord or previous tenant prior to moving in.

> Air Conditioner Servicing: Check whether the property owner has been regularly servicing the A/C units. A lack of regular maintenance will greatly reduce the life expectancy of air conditioning condensers and new systems can cost thousands of dollars. As a condition of the sale, request that the seller have the property’s units serviced and provide a report.

Pest Control: Find out if the previous owners had the property sprayed regularly for ants, roaches, termites and other pests. Failing to have this done could put you at risk of an infestation problem. If you are buying a wooden house, get the house checked for termites before you buy the

MEP Report, Home Inspections and Site

As a condition of purchase, it is very important that you get a Home Inspection and/or a MEP report (Mechanical, Electrical, Plumbing) done on the property before you finalise the sale. Significant problems can reduce the value of the property. If you are purchasing raw land, then a conditions site survey is recommended by a qualified engineer who will assess, among other things, whether your new house will need to be built with pilings, thus hugely increasing the cost of building. More information on what the

technician does, and why it is important, is listed in the Home Inspections and Site Surveys section of this chapter.

> Planned Special Assessments: If you are buying a condo, a good realtor will request a report from the strata’s property management company that confirms whether any special assessments are planned on the apartment complex. Special assessments may involve considerable costs and you might well be able to get the existing owner to pay for them (or have them deduct it from the sale price).

> Hidden Costs: Ask your realtor to request a breakdown of the monthly costs of running the property in the summer and in the winter months. It is not uncommon for a four-bedroom house on a 1/3 acre (particularly in a windy position) to have an average water bill of CI$650 per month and an average monthly electricity bill in the region of CI$1,000-CI$1,500+ depending on the month of the year, size of the house and whether the property has been well insulated. If the house has Icynene spray foam insulation in the attic, it will not only significantly reduce your electricity bills but help hold your roof together in the event of a major hurricane.

Home Inspections & Site Surveys

It is common practice to have a Chartered Building Survey completed before purchasing a property in the UK, whereas in the US, you would most likely have a Full Home Inspection done by a licensed home inspector. There are companies that provide both services in the Cayman Islands and it is highly recommended that you have one done when purchasing a home.

A Building Condition Survey will include an inspection by a civil or structural engineer who will examine the roof, insulation, flooring and the condition of the walls of your home, as well as other structural areas. They will also check whether your appliances are up to code and will recommend whether a MEP (Mechanical, Electrical and Plumbing) report needs to be done by professional

technicians.

A home inspection conducted by a licensed home inspector will include a full examination, which will consist of structural components such as foundations, floors, walls, ceilings, hurricane straps and roof. They will also check all interior components, including doors, windows and all appliances, testing the safety and functionality of all items. A licensed home inspector is also qualified to inspect the mechanical, electrical and plumbing systems of the home. An inspection report is then provided, noting all findings and actions for any required remediation. A similar approach should be taken when purchasing a plot of land; while it may look like the lot is filled properly, it can be overlying soft peat or have other ground conditions that would require you to pile your future property at the cost of tens of thousands of dollars. Therefore, a site investigation is a must. A simple trial pit or more complex borehole test and accompanying report will reveal the build-up of the underlying ground conditions. This technical data can then be utilised by your structural engineer when designing and calculating the foundation structure that is necessary to support your home. Most builders will require this report before commencing construction.

WestPoint Inspections

Tel: (345) 936 2454

Email: info@westpoint-inspections.com www.westpoint-inspections.com

A team of professional home inspectors licensed and qualified to operate in the US and the Cayman Islands. They provide comprehensive home inspections, including full examinations of homes, which include structural integrity, exterior and site, all interior components, appliances and mechanical, electrical and plumbing systems. The company also offers full construction services from remodelling projects to building multi-million dollar homes. SEE AD PAGE 164

Property Management Services

Given the number of property owners

who live overseas, property management is an invaluable service on-Island. A good property management company will market your property, screen prospective tenants, draw up a lease, handle financials, produce monthly reports, handle maintenance matters and be on call 24/7.

Avata Property Services Ltd.

Tel: (345) 947 4747 or (345) 916 4286

Email: info@avatapsl.com / alan@avatapsl.com www.avatapsl.com

With over 50 years of experience working throughout the Caribbean, Avata’s team of property professionals in the Cayman Islands use their combined skillsets to deliver first-class service to their clients. Contact them today for a quote or review of your property management needs. SEE AD THIS PAGE

Build Cayman

Tel: (345) 927 1184

Email: info@buildcayman.ky www.buildcayman.ky / www.caymangroup.ky

Discover a new level of property management

o ers experienced sta to manage your properties.

Professionally accurate budgeting, forensic accounting and diligent maintenance are the hallmarks of our first-class service from the Avata team.

with Build Cayman's premier Facilities Management solutions. Their team of industry professionals passionately cares for commercial, office and residential properties. Enjoy efficient and effective maintenance while they handle the details. As part of the Cayman Group, you can trust them to elevate and safeguard your investment.

JEC Property Consultants Ltd.

96 Mary Street, George Town

Tel: (345) 945 5930

Email: contact@jec.ky or www.jec.ky

Services include property valuations and appraisals, home buyers reports, development appraisals and feasibility studies, construction cost estimates, residual valuations, investment valuations, reinstatement cost assessments for insurance purposes, assessment and negotiation of compensation for compulsory purchase, market rent valuations and valuation of leasehold. SEE AD 166 & 208

Minerva Cayman

13 Genesis Close, Genesis Building, GT

Tel: (345) 746 0990

Email: contact@minerva.ky

https://minerva.ky

Lifestyle management experts who provide private services designed to meet the day-today needs of busy high-performing individuals and their families. They offer unique, tailored house management solutions for absence care, such as creating inventories, house manuals and training household staff. They also offer

Kristina King - ERA Cayman

Tel: (345) 916 7988

Email: kristina.king@eracayman.com

Kristina grew up on Grand Cayman after her parents moved here in the early 70s. She puts building customer relationships first, utilising her vast knowledge and experience gained over many years of living and working in the Cayman Islands to offer her clients guidance. If you are looking to sell your property or find the perfect home or investment, and ensure every transaction is a successful experience, call Kristina today! SEE AD OPPOSITE PAGE

Property Management Cayman Ltd.

Tel: (345) 924 9249

info@propertymanagementcayman.com

www.propertymanagementcayman.com

Property Management Cayman Ltd. is a locallyowned enterprise that boasts over 15 years of experience renting and managing a diverse and extensive portfolio of properties in the Cayman Islands.

REM Services Ltd.

Locale, Unit C1, 455 West Bay Road, SMB

Tel: (345) 946 8664

Email: rent@remservices.ky

www.remservices.ky

REM Services Ltd. is a professional property management company in the Cayman Islands with over 35 years’ experience. Providing services to clients on-Island and overseas, REM specialises in private, residential and beachside condos, along with residential and

Realtors

- Sales

When buying a property, it’s more productive to work with one real estate agent. As mentioned before, the Islands’ MLS is run by CIREBA and it ensures the best market coverage to view every property on all three Islands. A seller will list their property with a specific agent That agent then enters the details into the MLS, which is accessible to all CIREBA agents. The agent you are comfortable working with will show you all the listings, regardless of the listing source, so there is no need for you to reach out to different offices.

Amber Yates - Century 21

Tel: (345) 926 0396

Email: amber@c21cayman.com www.century21cayman.com

Amber Yates at C21 Cayman is a seasoned CIREBA real estate professional with over 20 years of experience in the Cayman Islands. As a consistent award-winning top performer for Century 21 Cayman and the Caribbean, Amber brings a wealth of knowledge and expertise to every real estate transaction. Whether you are buying or selling, relocating or renting, she leverages her extensive experience and attention to detail to help you make informed investment decisions in Cayman. With a strong portfolio of repeat clients, Amber is dedicated to finding the perfect property that meets your criteria and budget. She is always eager to assist with your real estate needs. Contact Amber Yates today to get started. SEE AD PAGE 148

Azure Realty Limited

Tel: (345) 946 2987

Email: info@azurerealtycayman.com www.azurerealtycayman.com

Established in February 2008 in order to bring new ideas to the real estate market in the Cayman Islands, add value to the client and enhance the real estate experience for all, Azure Realty is a boutique agency with local real estate experience and a keen awareness of the international context. Their team of agents will strive to provide outstanding customer service with discretion. Azure makes the buying or selling process an easy and enjoyable

one. Let them help make your dreams become a reality. Member of the Cayman Islands Real Estate Brokers Association (CIREBA). CIREBA ensures professionalism and integrity from all members. Visit the Azure Realty Cayman website to access all listings within the CIREBA MLS. SEE AD PAGE 144

Berkshire Hathaway Home Services

Tel: (345) 949 3521

Email: info@bhhscaymanislands.com www.bhhscaymanislands.com

With an ever-changing landscape and so many choices in real estate representation, the team at Berkshire Hathaway Home Services provides decades of experience and the comfort of local knowledge. They will get to know you, understand your needs and go above and beyond to ensure you reach your investment goals. Guided by the Berkshire Hathaway Home Services principles of trust, integrity, stability and longevity, they empower people to achieve their dreams

Cayman Islands Sotheby’s International Realty

Sheena Conolly – Broker/Owner

Governors Square, Seven Mile Beach

Tel: (345) 623 1234

Email: info.cayman@sothebysrealty.ky www.sothebysrealty.ky

As the only firm to have been awarded ‘Best Real Estate Company’ in the Cayman Islands by AIPP, they are a professional team of realtors who offer exceptional real estate concierge services in the Cayman Islands. They work closely with you to find the best real estate solution for your needs, whether that is a luxury home, a Seven Mile Beach condo, investment property, land for development, an oceanfront residence in Cayman Kai or a family home. Connect with them today.

SEE AD PAGE 154

Claudia Subiotto - Bovell Team at RE/MAX

Seven Mile Shops, West Bay Road

Tel: (345) 927 1000

Email: claudia.subiotto@bovell.ky www.bovell.ky

With over two decades in Cayman, Claudia and the BOVELL team are known for going above and beyond in everything they do. Whether it is

a property assessment, detailed and historical market analysis and research on comparable sales, extensive networking with legal and property specialists, valuable market insights, impeccable listings, phenomenal marketing and promotion of properties, flawless closings and superb documentation; no detail is left unexplored, resulting in successful rentals, sales and purchases. Their knowledge of Cayman and command of the real estate market led them to reach the #1 spot of all RE/ MAX medium-size teams worldwide in mid2024. SEE AD PAGE 146

Coldwell Banker / Cayman Islands Realty

1364 West Bay Road, Seven Mile Beach

Tel: (345) 945 4411

Toll-free (USA): 1 (888) 834 4083

Email: info@coldwellbankercayman.com www.coldwellbankercayman.com

Operating out of an award-winning cottage in the most sophisticated stretch of SMB, with additional offices in the Sister Islands, Coldwell Banker has knowledgeable agents with a reputation for finding unique properties to buy or rent, producing in-depth comparative market analysis necessary for buying, selling, renting or investing wisely. Coldwell Banker has a global reach of 3,000 offices in 44 countries, achieved through long-time associations with international agencies, and by promoting properties in luxury magazines – printed and online – as well as through an impressive social media and digital advertising network. They also offer free property assessments.

Crighton Properties

Tel: (345) 949 5250

Email: info@crightonproperties.com www.crightonproperties.com

Since the early 70s, Crighton Properties has provided their clients with expert advice about the local real estate market. They have access to an extensive range of real estate options, whether you are looking to invest in a beachfront home, condo, canal-front lot or investment property. The knowledgeable agents at Crighton Properties will assist you every step of the way with your property listing or sale. Contact them today to get started with your Cayman property search. SEE AD PAGE 149

Engel & Völkers

Tel: (345) 623 1400

Email: heidi.kiss@evrealestate.com www.cayman.evrealestate.com

Engel & Völkers Cayman Islands is a premier luxury real estate brand, combining local expertise with a global network. By partnering with top real estate professionals, you will receive a high level of service that goes beyond your expectations. They know Cayman Islands real estate. Whether you're looking for a starter home or a dream beachfront residence, they offer a personalised buying experience and deliver white-glove service for both purchases and sales SEE AD PAGE 9

Jacqueline Ziemniak – Re/Max Cayman

Tel: (345) 321 2794

Email: jacqueline.ziemniak@remax.ky

As a former Attorney, Jacqueline brings extensive legal experience to the representation of her clients. She recognises that, besides being an emotional decision, the purchase or sale of a home is a significant business transaction that must be continually

nurtured and monitored. She looks forward to working in partnership with you to understand your needs, best represent your interests and help you realise your real estate goals quickly and positively. SEE AD PAGE 152

Kass Coleman – RE/MAX agent

Tel: (345) 949 2396 or Cell: (345) 916 0378

Email: Kass.coleman@remax.ky www.facebook.com/KassCaymanIslands

Kass Coleman has excelled in Cayman real estate with RE/MAX for over 30 years in all areas of sales and marketing. Kass is a 'Lifestyle Specialist' and will help you every step of the way when buying or selling your property. Let her experience and proven track record work for you. SEE AD PAGE 145

Property Cayman

Tel: (345) 749 4663

Email: admin@propertycayman.com www.propertycayman.com

Specialising in matter-of-fact property advice, celebrated internationally for sales and marketing, and recognised locally for donating a portion of every sale towards local affordable housing solutions, this Caymanianowned and operated agency does more than just say that they do things differently. They live it. So, whether you are a first-time buyer or seasoned investor, Property Cayman’s welcoming energy, pressure-free advice, and client-over-commission approach will make you feel at home even if you’re not – yet.

SEE AD PAGE 3 & 155

Rhulens

Cayman Tel: (345) 938 1000

New York Tel: 1 (917) 836 9108

Email: sloane@rhulens.com www.rhulens.com

Rhulens is your trusted advisor when it comes to purchasing, selling or renting residential real estate in Cayman. Their extensive experience, market knowledge and strong negotiation skills enable them to achieve the best possible outcomes for their clients. They offer unbiased research, analysis and advice, and provide exceptional customer service.

Ritch Realty Ltd.

Tel: (345) 949 9838 or (345) 925 5653

Email: info@ritchrealty.ky

www.ritchrealty.ky

Ritch Realty Ltd. is a leading real estate agency in the Cayman Islands specialising in sales, property management and rental properties at premium locations in Grand Cayman. A family owned and operated business and member of CIREBA, Ritch Realty Ltd. has been providing real estate services to clients since 1991.

SEE AD PAGE 147

RENTING A PROPERTY

Starting Your Search

Most people who move to Grand Cayman will rent for the first year. In this time, you will be able to work out which district you want to live in and where your family life, work and play will be focussed. The three main ways to find a place to rent are either searching online yourself through the EcayTrade website (www.ecaytrade. com) or the CIREBA website (www.cireba. ky), or through a realtor who specialises in rentals. EcayTrade does have a multitude of properties for rent on their website, though updates are irregular. CIREBA has a second multiple listings system dedicated to rentals, which all member agents have access to. This means that choosing a particular agent to work with does not rule out any properties that are listed with someone else. Working with a realtor is often a good bet because it is free in this case, they will know when something is becoming available, be knowledgeable of the specific locale and they can drive you around to see places.

In addition, the rentals on the CIREBA website are all listed by individual, specific block and parcel numbers and are constantly being updated.

As one would expect, rental costs along the Seven Mile Beach corridor and in the South Sound area are generally higher than units in West Bay or Savannah. To manage your expectations, communicate your wish list to a realtor prior to your search. Have the following in mind when you contact an agent:

> Timeframe: The majority of tenancies commence on the first of the month. Landlords can be flexible if you ask, but ensure you put a security deposit down (typically one month's rent). Most rentals will not be advertised until 4-6 weeks prior to the start of the lease and it is best to wait until your permit has been approved before searching. The market moves extremely quickly. Most realtors are willing to give you a tour by video call or send additional photos/videos if you are yet to arrive on-Island.

> Deposit: The industry standard for a rental security deposit is equivalent to a full month’s rent (e.g. if you lease a property for CI$2,500/month, your deposit will be CI$2,500). In addition to this, the first month’s rent will be required to be paid in full on or before you take occupancy.

> Location: Walking distance to the beach or a shopping centre and less commuting time to an office or schools are the top priorities for people moving to the Cayman Islands, but they come at a premium. Sacrificing wish list items can mean a healthy reduction in monthly rental expense.

> Size: How many bedrooms do you need or want? Many people like to have an extra bedroom for visitors, or even a home office.

> Lifestyle: You will likely have to compromise on either your location, size or your budget. Prioritise your wish list prior to the search.

Related Costs

In addition to the first month’s rent and deposit, you will have to pay associated start-up costs for your new accommodation:

> Utilities Deposit: Estimate approximately CI$100 for water, CI$250-CI$600 for electricity and CI$180 for a landline, cable and/or internet package. See the Settling In chapter for more details.

> Maintenance Costs: Most landlords will take care of maintenance costs associated with garden and pool care, pest control and servicing of general systems such as A/C. If this is not specified within the lease agreement, enquire prior to signing.

> Insurance: Insuring personal belongings

is the responsibility of the tenant. The property owner will be responsible for any issues that are not the fault of the tenant, i.e. inclement weather, a burst pipe or the A/C system failing.

> Furnishings: Most units come furnished. Prior to signing a lease, ask for an inventory list showing everything that comes with the unit. You will have to be prepared to supplement anything missing.

> Pets: A large number of complexes or owners do not accept pets. Those that do may require an additional security deposit, which can be as much as CI$600 per pet to cover additional cleaning.

> Monthly Costs: You will be expected to pay utilities, which will be based on consumption, the size of the unit and the age of the build. Your realtor will be able to give you an estimate on the unit prior to signing an agreement. Cable and internet may or may not be included in the rental rate. If it is included, it is usually a basic package and you can pay to upgrade.

Realtors - Rentals

For potential renters, the best approach is to email one of the realtors below, make a connection and have them guide you in your search. Each agent or company will have their own rental listings, but they will have access to each other’s, as well as properties listed on EcayTrade.com.

BCQS Rentals

2nd Fl, Whitehall House, 238 North Church St

Tel: (345) 949 9300

Email: rentals@bcqs.com www.bcqsrentals.com

If you’re looking for the ideal apartment or home to rent over the long-term, talk to the friendly professionals at BCQS Rentals. With full relocation and tenant placement services, BCQS can help you every step of the way.

BCQS Rentals brings quality tenants and landlords together. Review their website today to see the latest rental listings.

Centre Island Properties

Tel: (345) 326 4790

Email: rge@bcqs.com

www.centreislandproperties.com

Centre Island Properties is a premier real estate company having residential and commercial properties available for rent in Grand Cayman

SEE AD PAGE 159

REM Services Ltd.

Locale, Unit C1, 455 West Bay Road, SMB

Tel: (345) 946 8664

Email: rent@remservices.ky www.remservices.ky

REM Services Ltd. is a professional property management company in the Cayman Islands with over 35 years’ experience. Providing services to clients on-Island and overseas, REM specialises in residential, vacation and commercial properties. Both short-term and long-term rental options are available.

SEE AD THIS PAGE

Ritch Realty Ltd.

Tel: (345) 949 9838 or (345) 925 5653

Email: info@ritchrealty.ky www.ritchrealty.ky

Ritch Realty Ltd. is a leading real estate agency in the Cayman Islands specialising in sales, property management and rental properties at premium locations in Grand Cayman.

SEE AD PAGE 147

THPM Real Estate

Tel: (345) 949 5134

Email: hello.thpmsales@gmail.com Property rentals and management.

Real Estate Photography

Please refer to the Living in Cayman chapter.

Temporary Accommodation

Many companies offer new employees two to four weeks of temporary accommodation to assist with relocation. Options include Shangri-La Inn & Suites (www. shangrilabandb.com), and The Locale Hotel (www.staylocal.com). Finally, Sunshine Suites Resort (www.sunshinesuites.com) has a wide array of resort amenities including exclusive admission to its sister property the Westin on Seven Mile Beach.

Featured Property, Seabreeze #9

Running Your

Home

and assess

costs of living in Cayman.

Although living in paradise is not always cheap, the quality and selection of services available in Grand Cayman liken to those found in major North American cities. From domestic help and expert contractors to pool maintenance and landscapers, all your home needs are catered for. By shopping around before choosing a service provider, you can source quality workmanship at a competitive price. In this chapter, we list some highly recommended professionals, as well as insider maintenance tips that can help you maintain your home, pool and garden.

Air Conditioning

Air conditioning is a necessity on-Island, but it can have a significant impact on your electricity bill. Keeping the temperature at the highest setting you feel comfortable with will help reduce costs, as well as using an overhead fan, especially during the winter months when a fan may be all you need in the mornings and evenings. You can also save electricity by closing curtains or blinds during the day, making sure your air filters are clean and that your home is well insulated. Also, ensure that you have your air conditioning unit regularly maintained by a professional company to maximise its efficiency. When selecting an air conditioning system, presuming you are getting a new one, make sure the system has a high Seasonal Energy Efficiency Rating (SEER). This can make a big difference to your energy consumption.

MAINTAINING YOUR HOME

Photos courtesy of Olesia Bilkei, Pavel Gulea & Andy Dean

Comfort You Can Trust.

A full service air conditioning and refrigeration company with factory trained technicians that provides residential and light commercial air conditioning repair, maintenance and A/C system installations. Parsons offers a full range of air conditioning equipment from economical to high efficiency systems, including Seacoast anti-corrosion paint and anti-corrosion grenades for air conditioning systems specifically designed for coastal and canal areas.

Air Conditioning Contractors

Below are some local companies who can advise, install, maintain and repair A/C systems. Although the cost of quarterly maintenance is often similar, some companies will include the cost of new filters, whereas others will not.

Androgroup Ltd.

28A Elgin Ave, Piccadilly Office Centre, GT

Tel: (345) 949 8000 (24-hour service)

Email: service@andro.ky www.andro.ky

Caytech Air Conditioning

Caytech Air Conditioning has been the recipient of ‘The Best of Cayman’ award two years in a row (2023 and 2024). They are a trusted provider of residential and commercial HVAC solutions. Their experts offer a comprehensive range of services, from installation and maintenance to repair and ductwork fabrication, to ensure their customers’ comfort 24/7 – even on weekends and holidays. Caytech offers free consultations. Paddington

Place, Unit 9, Godfrey Nixon Way, George Town. Tel: (345) 640 8126 (24-hour service), email: service@caytechac.com or visit www. caytechac.com. SEE AD THIS PAGE

Cooling Pros

Cannon Place, Industrial Park, George Town Tel: (345) 946 2665

Email: info@coolingpros.ky www.coolingpros.ky

EcoSmart Cooling Ltd.

EcoSmart Cooling Ltd. has been in business for over 20 years. They offer geothermal cooling, air source air conditioning, ductless/split air conditioning systems and air conditioning repair and maintenance for all brands, makes and models. Tel: (345) 233 2665 or (345) 936 2665, email: info@ecosmart.ky or visit www. airconditioningcayman.com. SEE AD OPPOSITE PAGE

FEDA Maintenance Services

FEDA Maintenance Services offers everything from new installation, replacement air conditioning units, quarterly servicing

and repairs. They also service and repair commercial refrigeration and ice units. Tel: (345) 924 0819 or (345) 329 133, or email: info@fedaservices.com. SEE AD PAGE 179

OtisHome

299 Sparkys Drive, George Town Tel: (345) 640 4663 (24-hour service) Email: info@otishome.ky www.otisair.ky

Parsons Air Conditioning

A full service air conditioning and refrigeration company, with factory trained technicians, that provides residential and light commercial air conditioning repair, maintenance and whole system installations. Parsons offers a full range of air conditioning equipment from economical to high efficiency systems, including Seacoast anti-corrosion paint and anti-corrosion grenades for air conditioning systems specifically designed for coastal and canal areas. Tel: (345) 949 3945, email: service@parsonsac.com, quotes@parsonsac. com or parts@parsonsac.com, or visit www. parsonsac.com. SEE AD PAGE 173

TODD Air Conditioning

Residential and commercial air conditioning experts, TODD Air Conditioning can assist with all your air conditioning needs, from installation through to regular maintenance. Tel: (345) 517 7464 or email: toddac345@yahoo.com. SEE AD PAGE 176

A/C Duct Cleaning, Sanitation, Mould Remediation & Decontamination

Air conditioning ductwork is usually made of fibreglass and has a lifespan of around 10 years before it can become susceptible to mould. Mould is a significant problem in the Cayman Islands. It is hazardous to health and must be removed quickly if discovered. You should get your maintenance technician to regularly photograph inside your ductwork to keep an eye on mould growth. Fiberglass ductwork cannot be safely cleaned once it has mould growing in it. At this point, it must be replaced. If your roof space is insulated with spray-foam insulation, you can get KoolDuct, which does not allow mould to grow.

✓ Maintenance | Service Contracts

✓ A/C Replacement/Upgrade to High Efficiency Unit

✓ Indoor Air Quality Products

✓ Sheet Metal Fabricating Installation

✓ Geo Thermal Cooling Systems Design/Build

✓ Mini Ductless A/C systems VRF

✓ Cool Load Sizing and Duct Design

✓ Spray Foam Insulation

Caytech Air Conditioning

Caytech Air Conditioning has been the recipient of ‘The Best of Cayman’ award two years in a row (2023 and 2024). They are a trusted provider of residential and commercial HVAC solutions. Their experts offer a comprehensive range of services, from installation and maintenance to repair and ductwork fabrication, to ensure their customers’ comfort 24/7 – even on weekends and holidays. Caytech offers free consultations. Paddington Place, Unit 9, Godfrey Nixon Way, George Town. Tel: (345) 640 8126 (24-hour service), email: service@caytechac.com or visit www.caytechac.com.

SEE AD PAGE 174

EcoSmart Cooling Ltd.

EcoSmart Cooling boasts over two decades of experience in the industry and offers a wide range of services. These include, but are not limited to, geothermal cooling, air source air conditioning, ductless/split air conditioning systems, as well as comprehensive repair and maintenance services for all brands, makes, and models. Tel: (345) 233 2665 or (345) 936

Residential and commercial air conditioning experts, TODD Air Conditioning can assist with all your air conditioning needs, from installation through to regular maintenance.

You can trust their team with the inspection and mould removal of AC systems in your home or workspace.

10 Market Street

Camana Bay (345) 517-7464 (345) 923-7440 toddac345@yahoo.com toddacky.com

2665, email: info@ecosmart.ky or visit www. airconditioningcayman.com. SEE AD PAGE 175

Parsons Air Conditioning

Parsons uses an ultraviolet sanitation device called ‘Altru-V UV’ to increase your air conditioner’s system capacity, improve airflow and return your air conditioning system to like-new condition. Tel: (345) 949 3945, email: service@parsonsac. com, quotes@parsonsac.com or parts@ parsonsac.com or visit www.parsonsac.com.

SEE AD PAGE 173

TODD Air Conditioning

Residential and commercial air conditioning experts, TODD Air Conditioning can assist with all of your air conditioning needs, from installation through to regular maintenance. Trust their team with the inspection and mould removal of A/C systems in your home or workspace. Tel: (345) 517 7464 or email: toddac345@yahoo.com.

SEE AD THIS PAGE

Appliance Sales, Service & Repairs

A. L. Thompson’s

They sell and support the following major home appliance brands: Avanti, KitchenAid, Miele, Sub-Zero, Whirlpool and Wolf. 189 North Sound Road, George Town, Tel: (345) 949 8622 or visit www.althompson.com.

SEE AD PAGE 190, 202, 204, 268 & 311

The Appliance Guru

For nearly 20 years, The Appliance Guru has been installing, maintaining and restoring appliances across Grand Cayman’s homes and commercial properties. Whether locally bought or imported, their expert team can help set up your appliances, help maintain optimal performance and fix them when things go wrong. The Appliance Guru is a go-to for your appliance part needs, keeping an array of parts in stock for microwaves, refrigerators, dishwashers, ovens, washers, dryers, water heaters and much more. 68 Sleepy Hollow Drive, Industrial Drive, GT. Tel: (345) 516 0090, email: fixit@theguru.ky or visit www.theguru. ky. SEE AD OPPOSITE PAGE

Bon Vivant Kitchen Studio

Offering kitchen design services, luxury appliances, custom cabinetry and plumbing fixtures, as well as service and repairs for premium brands such as La Cornue, Bosch, Thermador, Smeg, Liebherr and The Galley. Bon Vivant can also stock your kitchen with Countertop appliances, cookware, tabletop items and a full range of culinary accessories. Their design team can help maximise your outdoor space with custom solutions from Alfresco, Big Green Egg and Ooni, among other outdoor brands. Whether it’s a new build, a complete renovation or just a few upgrades, they provide top-quality products with exceptional customer service, including warranty and repair. Located on Market Street, Camana Bay. Tel: (345) 623 2665, email: info@ bonvivant.ky or visit ww.bonvivant.ky.

SEE AD PAGE 216 & 269

Electricians

Androgroup Ltd.

28A Elgin Ave, Piccadilly Office Centre, GT Tel: (345) 949 8000 (24-hour service)

Email: service@andro.ky www.andro.ky

FEDA Maintenance Services

FEDA Maintenance Services offers top-notch electrical services, from changing a switch to new installation. They also offer a wide range of contracting services, including air conditioning, plumbing, appliance repair, general maintenance and more, for residential and commercial properties. Tel: (345) 924 0819 or (345) 329 1334 or email: info@fedaservices.com.

Home Security

While Cayman enjoys one of the lowest crime rates in the Caribbean, burglaries do occur. These are often crimes of opportunity and occur at residences when no one is at home, late at night, the entry is concealed and there is easy access. It is suggested that you lock all doors and windows, particularly when you are not at home. There is a lock that is unpickable called the ‘mul-t-lock’. With this key, a

new key cannot be copied without proof of identification by the property owner. They are expensive but highly recommended. If you live in Cayman and are going away on holiday for an extended period, have a friend or a neighbour check on your home periodically. For added protection, you can also have an alarm system installed in your home, which can then be connected to a security company. There are several security companies across the Island that can advise you on beefing up your home security.

Island Electronics

90 Godfrey Nixon Way, George Town

Tel: (345) 949 8255

Email: info@ielgroup.com www.ielgroup.com

The Security Centre Limited

Cayman Technology Centre, 115 Printer Way, GT Tel: (345) 949 0004

Email: info@security.ky www.security.ky

Pest Control

Cayman’s warm, tropical climate is hospitable to many different types of insects and other pests. Although none of them pose a huge danger, any bites or stings should always be treated with caution. Scorpions tend to be more prevalent after periods of heavy rain and home infestations can occur in large numbers. They have a very painful sting, and although not particularly poisonous, if any symptoms occur, you should visit the hospital or doctor. Termites are a major problem in this region and can cause a lot of damage to a property. If you are planning to purchase a house or a piece of land, it is important to have a termite inspection done prior to purchase and a pre-treatment done prior to building. Several species of spiders can be found in Cayman, and while most are harmless, the Brown Recluse Spider is not. Medical attention should be sought if you suspect you’ve been bitten.

Rodents are an all-year problem in Cayman. There are two species of rats and one species of mouse on-Island. People with

The Appliance Guru

Installing, maintaining and restoring appliances across Grand Cayman’s homes and commercial properties.

Our expert team can help set up your appliances, help maintain optimal performance and fix them when things go wrong.

We stock parts for: • microwaves • refrigerators • dishwashers • ovens • washers • dryers • water heaters and much more.

68 Sleepy Hollow Drive, Industrial Drive, GT. (345) 516 0090

fixit@theguru.ky www.theguru.ky.

pets will likely encounter ticks and fleas –local vets sell NexGard chewable tablets, which are an effective flea and tick control medicine for dogs. Ticks are a particular nuisance during dry weather and if you have a tick infestation in your home, then a reliable pest company needs to spray the floors of your home twice over a two-week period.

It is the task of the Mosquito Research and Control Unit (MRCU) to suppress the mosquito population and assist in preventing mosquito-borne diseases. The MRCU conducts aerial spraying with insecticides before the rainy season to kill larvae, and evening sprays to kill adult mosquitoes. Fogging trucks are used for ground spraying at times when mosquitoes are most active. To minimise mosquito problems on your property, ensure there are no open containers where water is left stagnate, as these areas are breeding grounds for mosquitoes. The MRCU can be contacted by calling (345) 949 2557 or by emailing: contact@mrcu.ky. Their website

can be found at www.mrcu.ky.

Large land crabs are common across the Island. Migrations are prompted by heavy rain when thousands make their way to the sea to spawn. Many Caymanians catch land crabs to eat, so when driving during crab season, use caution and watch for ‘crabbers’ along the roadside and crabs crossing the road.

Feral chickens and roosters roam freely in Cayman and they are considered a huge nuisance; they crow at all hours and they love to scratch up lawns, flower beds and vegetable patches. You can purchase a trap from the Department of Agriculture (Tel: (345) 947 3090) and they can arrange for their humane disposal. Alternatively, you can call Dwayne Crawford (Tel: (345) 325 8626), a very efficient registered Department of the Environment culler, who will dispatch them in the quickest and most humane way possible. He can also cull green iguanas, and for these, the Cayman Islands Government will pay a bounty of CI$5 for a hatchling, CI$7 for a

small adult and CI$10 for an adult iguana weighing more than five pounds. The nonindigenous, invasive green iguana must not be mistaken with the endemic Cayman Blue Iguana, which is a protected species, nor the Rock Iguana on the Sister Islands. The green iguana is a pest that breeds in large numbers and has no natural predators. They are voracious eaters and prior to 2018, they wreaked havoc on gardens and farmland. Over 1.5 million have been culled in the past five to six years.

Quarterly Spraying at Home

If you are buying a property, you should check if it has been sprayed regularly for pests. If renting, ask your landlord if they have a pest control company that sprays quarterly to control ants, scorpions and cockroaches. To protect their investment, most property owners will do this, however, if your landlord doesn’t, it is worth organising yourself. If not mitigated, pests can become a serious problem to your property.

A typical house, depending on size and location, costs between CI$140-CI$260 per quarter to treat. This range includes the treatment of more aggressive species, such as scorpions of which there has been an influx recently.

Pestkil Ltd.

Operates across all three Islands and has been in business since 1982. Services include the control of cockroaches, rodents and ants, as well as all other pest control for residential and commercial locations, including lawn, shrubs and tree services. Owned and run by a Doctor of Entomology (insects), Pestkil holds a long-standing position in the community, boasts a strong team culture of experienced and trained employees and provides a topquality customer service experience. Pestkil is a provider of the Sentricon Termite Elimination System in Cayman, the most effective system on the market for the eradication and protection against subterranean termites. They also use heat technology for the control of bed bugs, wood boring beetles and drywood termites. They are located at 311 Walkers Road,

George Town. Tel: (345) 949 9145 or www. pestkil.com. SEE AD OPPOSITE PAGE

Painting Contractors

Painting contractors usually charge by the job rather than by the hour.

FEDA Maintenance Services

FEDA Maintenance Services offers exterior and interior painting for commercial and residential properties. They also provide repair and maintenance of air conditioning, electrical, plumbing and appliances. Tel: (345) 924 0819 or (345) 329 1334, or email: info@fedaservices. com. SEE AD THIS PAGE

Wesco

Wesco provides interior and exterior painting services for commercial and residential purposes. Their services also extend to the respraying of cabinets if you’re wanting a home refresh. Located at 81 Industrial Way, JJT Warehouse, George Town. Tel: (345) 939 3788, email: info@wesco.ky or visit www.wesco.ky.

SE E AD PAGE 213

Plumbers

Androgroup Ltd.

28A Elgin Ave, Piccadilly Office Centre, GT Tel: (345) 949 8000 (24-hour service) Email: service@andro.ky www.andro.ky

FEDA Maintenance Services

FEDA Maintenance offers a range of plumbing services from repairing a leaky faucet to major repairs and installations. They are fast, efficient, dependable and affordable. Tel: (345) 924 0819 or (345) 329 1334, or email: info@fedaservices. com. SEE AD THIS PAGE

Recycling

Cayman has made progress in its recycling efforts but there is still a long way to go. There are various recycling depots across Grand Cayman; many of which are located at the Island’s major supermarkets. Residents can recycle the following items at each of these locations: a) mixed paper and cardboard, b) clean metal food cans (tin and aluminium), and c) PET/PETE

and HDPE plastics (type 1 and type 2). Be sure to check the bottom of containers for codes such as PET, PETE and HDPE or look for the 1 and 2 symbols. Note: Glass is no longer recycled on-Island. See page 309 for a table of recycling locations. You can also check the DEH website (www.gov.ky/ deh) for updates.

Read the signs at each depot and follow the instructions carefully. It is essential that no additional waste items are disposed of in the recycling bins as they contaminate the recyclables and could cause them to be sent to the landfill. Make sure everything has been rinsed out and is clean, and don’t put plastic wrappers, plastic bags and cling wrap in with the type 1 and type 2 plastics. Bins have been organised using the following colour codes: Blue – Type 1 and 2 Plastics, Yellow – Paper and Cardboard, and Gray – Tin and Aluminium Cans.

In Cayman, residents can also deposit recyclable items at the 24-hour drop-off site located at the front of the George Town landfill. There is no fee for this service

and assistance is provided during regular business hours. Camana Bay also operates a recycling depot, accepting aluminium and cardboard items. Plastic items are accepted at Foster’s Camana Bay.

Recyclables in Cayman Brac and Little Cayman are safely stored at their respective landfills until arrangements are made for shipping to Grand Cayman for further processing. Once at the recycling facility at the George Town landfill, recyclables are sorted, processed and baled for shipment to recycling plants in the US.

For more information about how you can recycle, refer to the Being Green chapter.

Utilities Management

Caribbean Utilities Company Ltd. (CUC) CUC commenced operations as the only public electric utility in Grand Cayman in May 1966. The company relies primarily upon diesel generation to produce electricity but is committed to moving to more environmentally friendly renewable energy sources. There are two different renewable energy programmes

, E

F E

We provide a wide range of services from air conditioning, electrical, plumbing, appliance repair, painting, general maintenance and much more for residential and commercial properties. Please get in touch with us today, we would love to speak with you about any of your projects’ needs.

NT , D E P E N D

FEDA Maintenance Services provides outstanding contracting services to all of their clients, and are here to ensure that all of your needs are met.

1-345-924-0819 // 1-345-329-1334 edamaintenanceservices@gmail.com info@fedaservices.com www.fedaservices.com follow us on instagram

offered by CUC and more information can be found on their website. Administration Building: 457 North Sound Road, George Town. Customer Service Department: Caribbean Plaza, West Bay Road. Tel: (345) 949 5200, email: service@ cuc.ky or visit www.cuc-cayman.com.

CostWatch

CostWatch helps manage utilities, such as water and electricity. They provide monitoring and automation services that allow you to track and manage your utilities, keeping costs

within budget. Unit 15, 125 Owen Roberts Drive, George Town. Email: info@costwatch.ky or visit www.costwatch.ky.

CLEANING SERVICES

Many people opt for a weekly, bi-weekly or monthly cleaner. It is an affordable luxury and there are a number of very reputable companies to choose from. The new trend is for team cleaning as it takes less time and is more thorough. Depending on the size of your home, a cleaning company will send

• Carpet Steam Cleaning

• Upholstery Steam Cleaning

• Tile & Grout Steam Cleaning

• Area Rug Cleaning

• Specialty Rug Cleaning (Natural Fiber)

• Pressure Washing Services

• Mould Remediation Services (Certified)

• Assessments & Consultations

• Post Construction Cleaning

• Emergency Water Extraction Services (24 Hours)

• Thermal Imaging & Leak Detection

• Fogging & Ozone Treatments

• Structural Drying Services & Drying Equipment Rental

• Auto Interior Cleaning

• Boat Interior Cleaning

• End of Tenancy Cleaning

• Area Rug Collection & Delivery Service

• Janitorial Services

in a team of three to eight people for one to two hours. The average cost is CI$100 or less per week for a one-bed apartment, CI$150 for a three or four-bed apartment, and for a big house, they will give you a quote. If you don’t go through an agency, it is easy to find someone via word of mouth. For a seasonal clean of your carpets, area rugs, windows and upholstery, it’s worth hiring a specialised team to do the job. The agencies listed below can help.

Dean’s Cleaning Services

Providing comprehensive cleaning services to residential, commercial and industrial customers across Grand Cayman, Dean’s Cleaning Services offers a wealth of knowledge and experience in the cleaning industry. They are certified in water restoration and mould remediation, keeping your home safe and your family healthy. 472 West Bay Road, George Town. Tel: (345) 945 7007, Emergency After Hours Tel: (345) 926 9999, email: info@ deanscleaningcayman.com or visit www. deanscleaningcayman.com. SEE AD THIS PAGE

Fabrizone Cleaning

With over 25 years of professional cleaning excellence, Fabrizone Cleaning provides professional cleaning and exceptional customer service. They are experts in carpet, upholstery, flooring and drapery cleaning for residential, property management and corporate customers. Fabrizone specialises in air quality services, including A/C duct purification and mould remediation, as well as professional restoration services after water, fire or mould damage. Crighton Building, 2nd Floor, Crewe Road, George Town. Tel: (345) 949 5010, email: info@fabrizone.ky or follow them on social media @fabrizonecayman. SEE AD PAGE 182

Hew’s Cleaning Services

A family-owned company that provides trustworthy, professional and efficient commercial and residential cleaning services. Contact them for general and deep cleaning, as well as oven, carpet, cupboard and window cleaning. They also offer sanitising, marble polishing, upholstery cleaning and much

more. Staff are trained in Applied Microbial Remediation. They also offer a residential team cleaning service and they come prepared with supplies. A great, hassle-free service. Tel: (345) 949 0734, email: chris.hew@hews-janitorial. com or visit www.hews-janitorial.com.

SEE AD PAGE 183

My KandA Cleaning

Offering a great customer experience, from booking your appointment to completing your checklist and safely locking your home. Their professional cleaning specialists bring all the cleaning supplies needed. Their goal is to ensure that clients are satisfied with their cleaning service and attention to detail. They offer discounts on recurring cleaning services.

My KandA Cleaners mainly uses non-toxic cleaning supplies. Tel: (345) 326 3379 or visit www.kandaservices.ky. SEE AD PAGE 183

Reliable Industries Ltd.

Reliable Industries Ltd. is a family-owned cleaning and restoration company that has been in operation for over two decades. They

have consistently maintained a gold standard of customer service reflected in all their operations. Reliable Industries Ltd. takes pride in understanding the needs of each individual client. Their wide array of services cover commercial, industrial and residential, and include: 24/7 emergency flood services, water extraction, restaurant and hood cleaning, exterior building cleaning, pressure washing and glass cleaning, marble and natural stone, tile and grout cleaning, carpet and upholstery, post-construction cleaning and even tree cutting and removal. 313 Compass Drive, North Sound Way, GT. Tel: (345) 949 9303, email: info@reliable.ky or visit www.reliable.ky.

SEE AD THIS PAGE

DOMESTIC HELP & NANNIES

Many families employ domestic help either on a full-time, live-in or part-time basis. You can often find someone via word of mouth, on Facebook forums, such as ‘Women in Cayman’, ‘Hope of Cayman’ or ‘KY Mommies’, or you can try an agency. Make sure to ask for and check all

references.

> Hiring through an agency: Expect to pay approximately CI$16 per hour for a minimum of four hours if hired on a fullday or half-day regular, weekly basis. On a temporary basis, allow CI$18 or more per hour, and some charge a transportation fee of CI$6 per day. The convenience of using an agency is that they train the staff, pay their health insurance and pension, and will replace them if they can’t work for any reason. Refer to our sister publication, Cayman Parent, for detailed information. We recommend the following two agencies: AAA Caregivers Agency (Tel: (345) 916 5925 or www.aaacaregivers.ky) and Best Home Care (SEE AD PAGE 327) (Tel: (345) 947 2297 or email: bhc@candw.ky).

> Hiring someone yourself: If you hire someone yourself, expect to pay between CI$405-CI$575 per week for 40-45 hours per week, before overtime, plus a housing allowance. For this salary, they would be expected to be able to drive your children, cook for them and help with cleaning

the house. You will also need to take care of your employee’s health insurance and pension, give them at least two weeks paid vacation per year and pay them double time for working any public holidays. A good employer may also pay for one airline ticket home per year and give a Christmas bonus of between two weeks and a month’s salary. For part-time work, babysitting or overtime, the going rate is CI$12 per hour.

When hiring someone yourself, keep in mind that they may not be properly trained. Private staffing companies, such as Minerva Cayman (SEE AD PAGE 277) (Tel: (345) 746 0990), offer certified housekeeping training of household staff.

> Things to note: If you hire a non-Caymanian helper on a full-time basis on your own, you must apply for a work permit. Paperwork and instructions can be downloaded from the WORC website (www.worc.ky). A police clearance, passport photos and a full medical are also required. Prospective employees may be required to take an English test as well. It is worth noting that

WORC does not usually grant expatriates a work permit for domestic help, unless they show sufficient need, i.e. they have children who need looking after, in which case you will also need to provide certified copies of the birth certificate of each child to be cared for and think carefully about the information you provide in your cover letter. A job vacancy for a nanny needs to be advertised on the WORC website (www. worc.ky), but a vacancy for a domestic helper does not need to be advertised. The work permit for a domestic helper costs CI$150 per year, while the cost for a certified nanny is CI$550. If you are an expat, you cannot submit your domestic helper’s work permit paperwork until your own work permit has been approved; it is illegal to make your employee pay for their own work permit; helpers are not allowed to have dependants on their work permit and the maximum time they will be allowed to stay on the Island is 10 years.

If you live in an apartment complex, the strata will generally take care of garden maintenance. Homeowners not part of a strata can seek landscaping services from one of the many companies in Cayman. See the Lawn and Garden Maintenance section further in this chapter. Alternatively, you can maintain your own garden. Lawnmowers, fertiliser and other gardening equipment are available from most home centres, such as A. L. Thompson’s (SEE AD PAGE 190, 202, 204, 268 & 311) , Uncle Bill’s (SEE AD PAGE 198) and Kirk Home Centre. There are also very good plant nurseries with experienced staff who can advise you. Refer to the Shopping chapter for details on where to buy shrubs, plants and all-weather outdoor furniture.

Landscaping

Expect to pay independent landscapers around CI$20-CI$30 per hour. Many gardeners will chop back plants, so be very specific about what you need trimming. Try to make sure gardeners and landscapers don’t kill any snakes. Grass snakes in Cayman are harmless and help keep the frog population in check.

Planting Trees

Planting trees around your property is a great way to support Cayman’s environment and will also help keep your house cool, provide shade outdoors while your children play in the afternoons, and add character and value to your property.

Local resident Margaret Barwick, author of the book ‘Tropical and Subtropical Trees’, maintains the emphasis should be on respecting and incorporating indigenous flora where possible. Planting indigenous trees supports the local wildlife (birds and bees, in particular), they will also be less affected by pests, and will bounce back far quicker after a major storm. The Neem tree is a fantastic shade tree that grows fast and is drought-resistant. Another great option is the Mahogany, an indigenous, endangered tree that is salt tolerant and fairly fast growing. The smaller Poui,

Poinciana and Tabebuia trees are also very popular on-Island for their showy canopy of bright flowers.

Not to be forgotten are fruit trees. Mango trees are slow growing, but they are wonderful when they bear fruit. Investigate the different varieties and choose a species whose fruit you love. A few amazing ones are the Bombay, Carrie, Nam Doc, Keitt and the Nelson.

While coconut trees are fast growing palms and provide nuts filled with delicious water and jelly, the nuts may fall and hurt children if they play under them, so have the coconuts removed often. Avoid planting the invasive, non-native Casuarina tree.

Bush Girl Medicine (www.facebook. com/bushgirlmedicine) is a useful blog where you can learn more about local plants and their historical uses.

Lawn & Garden Maintenance

Lawns in Cayman, and particularly those with St. Augustine and Zoysia grass, often suffer attacks from white grub, armyworms

and cinch bugs. If your lawn is coming up in clumps or showing brown patches, then you have a problem. The most effective way to treat it is to have a pest company spray the lawn every three months and make sure you water it well.

Paradise Landscaping

Paradise Landscaping specialises in residential and commercial landscape design, installation and maintenance services, including irrigation, lighting and hardscapes. Their new installation services include the landscape construction for water features, patios, gazebos, outdoor kitchens, pools, and koi ponds. They also offer professional property care, including lawn mowing services, garden maintenance such as mulching, shrub pruning, lawn fertilisation and pest management. Tel: (345) 547 1530, email: giles@paradise.ky or visit www.paradise.ky.

Power Flower

For over 30 years, Power Flower has been providing residential and commercial clients on-Island with premier landscape maintenance

MORE THAN CLEAN

and design services of the highest standard. Their family of professional landscapers, irrigation specialists, plant and grass pest specialists and tree pruners are committed to delivering outstanding service and timely communication for every project on every property. 31 Orchard Lane, off Crewe Road, George Town. Tel: (345) 949 2256 (office) or (345) 321 0308 (nursery), email: office@ powerflower.ky or visit www.powerflower.ky.

SEE AD PAGE 203

Vigoro Nursery & Landscaping

Vigoro is a full-service landscape and design company with two conveniently located garden centres. Both stores sell a large variety of indoor and outdoor plants, shrubs, trees, soil, fertilisers, large and small ceramic pots, water features, and home and garden furniture and accessories. Walkers Road, George Town. Tel: (345) 949 4270. Agricola Drive, Savannah. Tel: (345) 945 5236. Email: tom.balon@vigoro. ky or craig.stewart@vigoro.ky, visit www. vigoro.ky or IG: @vigoro_cayman.

Humane Bat Removal Services

There are nine species of bat in the Cayman Islands, each having a unique role in the ecosystem. Bats are looked at with great compassion in Cayman, especially as they do an incredible job keeping the mosquito population down. The National Trust for the Cayman Islands sells bat houses and provides install services, which give bats a permanent and safe place to roost and alternative habitats where natural ones no longer exist. While bats are not dangerous and do not damage structures, they should still be excluded from roof spaces as their droppings can create odour problems. To ensure safe and humane removal, contact the National Trust for their bat exclusion service rates and availability. Bats are a Class 1 protected species under the National Conservation Law. It is illegal to remove or disturb bats during the breeding season (1st June15th November) to protect baby bats that are left behind when their mothers go out to feed. Doing so can incur a hefty fine and imprisonment. Email: info@ nationaltrust.org.ky for more information on bat exclusions and bat house sales.

Bee Removal Services

Cayman has a thriving community of bees which ensures that our fruit trees continue to bear abundantly. However, sometimes these bees can overrun a corner of your garden and need to be safely removed and relocated. Bee removal should always be done by a professional – please do not kill bees! At the time of publication, the following private individuals offer bee removal services: Otto Watler (Tel: (345) 947 1255), who lives in Lower Valley and produces pure Cayman honey from his family of bees, has been removing unwanted bees from people’s homes and gardens for years. Cayman Bee Farm (Tel: (345) 925 2337) offers beehive removal and relocation services, and their natural raw Cayman honey can be found in various retail outlets. Jamaal Solomon of Raegan’s Honey (Tel: (345) 926 4411) also offers bee removal. The cost varies depending on

the complexity of the situation.

Sargassum Removal

Sargassum is a genus of large brown seaweed that floats in island-like mats on the water’s surface, and is a crucial habitat for many different species. Because of this, you are not allowed to remove seaweed that has not washed ashore. At certain times of the year when it does wash ashore, it gives off a foul smell as it dries. Usually, a nor’wester will blow through and take it out to sea again, but sometimes it builds up so much that it must be removed. If doing this yourself, be sure to remove it in the least intrusive way (hand raking) and be conscious of wildlife, especially during turtle nesting season (May-November). Care must be taken not to destabilise the beach and cause erosion. Using machinery to remove sargassum is not advised due to the environmental risks, but if it is deemed necessary, the DoE must grant approval beforehand. It is essential that you use the same route on and off the beach when using machinery to prevent further destruction.

Pool Maintenance

If you rent or buy in an apartment complex, the strata will take care of the cost of pool maintenance. If you own a house with a pool, expect to pay on average CI$150-CI$200 per month to have a maintenance technician tend to it weekly. Saltwater pools, with their essential component, a chlorine generator, are an eco-friendly alternative to chlorinated pools, requiring less maintenance. Other environmentally friendly products, such as LED lights, variable speed pumps, solar heaters and automation systems, will help reduce your monthly bill as well.

Oasis

Oasis offers a comprehensive range of pool services, from regular weekly maintenance to the latest in energy-efficient pool equipment, ensuring your pool remains pristine and ready for enjoyment. They are

located at Harbour Walk Offices (OS16, 2nd floor), Grand Harbour. Tel: (345) 945 7665, email: sales@oasis.ky or visit www.oasis.ky. SEE AD OPPOSITE PAGE

Pool Patrol

Pool Patrol supplies and stocks pool and hot tub pumps, motors, accessories, chlorine generators, heat pumps, gas heaters, pool games, pool floats, outdoor showers, hot tubs and patio furniture. Services include weekly cleaning, water testing, renovations and repairs. Tel: (345) 949 8543, email: pools@ poolpatrol.ky or visit www.poolpatrol.ky.

SEWAGE & WASTEWATER TREATMENT

Residents who live along the main West Bay Road corridor, and some of the connecting neighbourhoods, are served by the Island’s only public sewerage system, which is operated by the Water Authority – Cayman (WAC) (SEE AD PAGE 131) The wastewater is collected in the West Bay Beach Sewerage System and treated at WAC’s wastewater treatment plant. Residents located outside of the public sewerage system area have their wastewater treated in an on-site wastewater treatment system, typically located on the same property as the residence. On-site systems are septic tanks or aerobic treatment plants, both of which discharge the treated effluent into an effluent disposal well. Septic tanks are typically used at older and smaller developments. Both treatment systems require maintenance. Solids accumulating in the treatment system reduce treatment capacity over time and require periodic removal (pump-out) by licensed septic tank cleaners, which are listed on WAC’s website (www.waterauthority.ky). The required frequency of pump-out ranges from one to five years, depending on the size of the tank and usage. In addition to periodic pump-out, aerobic treatment systems require routine maintenance of mechanical equipment, e.g. motors, blowers and pumps. WAC maintains a register of certified service providers, which can be found on their website. Unlike

WAC’s wastewater treatment facility, the management of on-site wastewater treatment systems is the responsibility of the property owner, but can be outsourced to a service provider, and some oversight is provided by WAC. For more information, email WAC at developmentcontrol@ waterauthority.ky.

WASTE DISPOSAL

The Department of Environmental Health (DEH) (Tel: (345) 949 6696) is responsible for all waste management and recycling in the Cayman Islands. Residential garbage is collected once per week on Grand Cayman, while commercial garbage is collected based on the needs of the individual business. There is no charge for residential garbage collection (once registered at DEH), but there is for condo complexes and commercial garbage collection. Complexes with 10 or more dwelling places are viewed as commercial establishments.

Place your garbage on the kerbside on

the evening before your scheduled pickup day to avoid a missed collection, as pick-up commences as early as 3am. Avoid putting the following items into your garbage container: hot coals, grease/oils, sharp objects, garden waste, dead animals, liquids, household hazardous waste items and electronic appliances. Take these items to the George Town Landfill dropoff area, which is open 24/7.

Hazardous material, including batteries and chemicals, must be disposed of properly. Household batteries can be taken to the grocery stores, while chemicals and oil must be taken to the George Town Landfill drop-off area. JUNK (Tel: (345) 325 5865) also collects recyclables from private residences and businesses for a fee.

Garden waste can be taken to the George Town landfill. For those living in North Side or East End, Beacon Farms (Tel: (345) 917 9800) accepts all green waste from individuals or landscaping companies. The loads of green waste must be completely free from plastic and

all non-organic material. They then mix the green waste with shredded paper and cardboard to make nutrient-rich compost. Please call them to arrange a drop-off time.

The DEH provides free kerbside bulk waste (old furniture, appliances, etc.) pick-up once per year. Never place bulk items out on the kerbside until the DEH has announced its annual bulk waste pickup schedule. You may, however, hire DEH to pick up your bulk waste throughout the year at the cost of CI$100 per load (Monday-Friday), or CI$150 (Saturday). On Cayman Brac, it will cost CI$75 (Monday-Friday). To get in touch with someone at the DEH Solid Waste Unit, Tel: (345) 949 6696 or (345) 948 2321 (for customers on the Sister Islands).

Lastly, littering by throwing things out of your car or dumping (fly tipping) is illegal under the Litter Act (1997 Revision), and if caught you will be fined a minimum of CI$500 and six months imprisonment. Please do not litter!

DESIGN • CONSTRUCTION • SERVICE

Home Improvements

Home improvement is a journey of transformation, where visions become reality and spaces evolve into personalised sanctuaries. In the Cayman Islands, with our unique blend of tropical beauty and cultural richness, embarking on such a project requires a nuanced understanding of the local environment and expertise in design and construction tailored to our specific needs. Working with the right team is crucial, as it ensures not only the success of the project but also the realisation of a home that harmonises with the Cayman Island’s distinct character.

THE IMPORTANCE OF HIRING PROFESSIONALS

The Right Team for the Job

Engaging a team of experienced architects, designers and builders means investing in a collective wealth of knowledge and skill. These professionals are adept at translating your vision into a feasible plan, navigating any challenges that may arise and ensuring compliance with local building codes and regulations. Moreover, a good team will have established relationships with local suppliers and subcontractors, streamlining the process and saving you time and money. Their ability to anticipate potential pitfalls and address them proactively can be the difference between a smooth project and one fraught with delays and cost overruns.

In the Cayman Islands, we are fortunate to have access to many skilled experts who understand the intricacies of building in our unique climate and bring invaluable insights and experience to the table. This local expertise is critical for ensuring the

BUILDING DREAMS: NAVIGATING HOME IMPROVEMENTS Photos

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CONSIDERATIONS WHEN STARTING A PROJECT

Embarking on a home improvement project in the Cayman Islands involves careful planning and consideration. Here are the three most important aspects to consider:

> Understanding the Local Climate and Environment The tropical climate of the Cayman Islands presents unique challenges and opportunities for home improvement. The high humidity, salty air and hurricane risks necessitate the use of materials and construction techniques that can withstand these conditions. Consulting with professionals who understand these environmental factors is crucial for creating a home that is both beautiful and durable.

> Defining Your Vision and Goals Before diving into any project, it’s important to have a clear vision of what you want to achieve. Consider how you want

your space to function and feel. Are you looking to increase your living area, improve energy efficiency or enhance your home’s aesthetic appeal? Setting clear goals will guide the design process and help you communicate your ideas effectively to your team.

> Establishing a Realistic Budget and Timeline A well-defined budget and timeline are essential for any home improvement project. Work with your team to create a comprehensive scope of work that outlines all expected costs, from materials to labour. Be realistic about your financial limits and consider setting aside a contingency fund for unexpected expenses. Similarly, establish a timeline that accounts for potential delays and allows for flexibility.

CREATING A SCOPE OF WORK & BUDGET

A detailed scope of work is a foundational document for any home improvement project. It outlines the project’s objectives,

deliverables and the specific tasks required to achieve them. Here’s how to create an effective scope of work and budget:

> Step 1: Define the Project Scope What specific improvements are you planning to make? Break down the project into manageable components and describe each one in detail. For example, if you’re renovating a kitchen, your scope might include cabinet installation, countertop replacement, plumbing updates and lighting changes.

> Step 2: Identify Key Milestones Establish critical milestones and deadlines for each phase of the project. This will help you track progress and ensure that the project stays on schedule. Milestones might include completing the design phase, obtaining necessary permits and finishing construction.

> Step 3: Estimate Costs Work with your team to evaluate the costs associated with each aspect of the project. This should include materials, labour, permits and any other expenses. Consider obtaining multiple quotes from suppliers and contractors to ensure you’re getting the best value. Be sure to factor in a contingency fund for unexpected costs, typically around 10-15% of the total budget.

> Step 4: Review and Adjust Once you have a draft scope of work and budget, review them with your team. Make adjustments as necessary to align with your vision and financial constraints. Ensure that all parties agree on the scope and budget before moving forward.

In the Cayman Islands, where the natural environment is a vital part of our way of life, making environmentally conscious choices in home improvement is essential. This not only benefits the environment but also enhances the longevity and efficiency of your home.

Choosing High-Quality Materials

Investing in high-quality materials is crucial for the durability and performance of your

home. In our tropical climate, materials must withstand humidity, heat and the corrosive effects of salt air. Opt for products that are specifically designed for tropical environments, such as moisture-resistant wood, stainless steel and UV-resistant finishes and fabrics.

Embracing Sustainable Practices

Sustainability is an important consideration in modern home improvement. Consider incorporating energy-efficient appliances, solar panels and rainwater harvesting systems into your design. These features not only reduce your environmental footprint but also contribute to long-term cost savings. Additionally, work with your team to source materials locally whenever possible. This reduces the environmental impact of transportation and supports the local economy. In the Cayman Islands, where many items must be imported, we must be particularly mindful of our environmental impact. The limited availability of resources for reuse

and recycling on the Islands emphasises the importance of selecting sustainable materials and practices.

Avoid 'Fast Fashion' Design

In home improvement, as in fashion, trends come and go. The concept of 'fast fashion' in design refers to the rapid production and consumption of inexpensive items that may not be built to last. To create a home that truly reflects your style and stands the test of time, focus on selecting high-quality, timeless pieces that you love.

Invest in Quality

Prioritise purchasing well-crafted furniture and décor that are designed to last. While these items may have a higher upfront cost, their durability and timeless appeal often provide better value in the long run.

Choose Timeless Designs

Select classic styles and colours that can adapt to changing trends. Neutral palettes

and versatile designs create a foundation that allows you to refresh your space with smaller, trendy accents as desired.

Personalise With Meaningful Items

Decorate with items that have personal significance, such as artwork, heirlooms or pieces collected during travels. These elements add character and authenticity to your home.

Focus on Functionality

Choose items that serve a dual purpose or enhance the functionality of your space. This approach not only adds value but also ensures your home is tailored to your lifestyle.

RESEARCHING DESIGN STYLES & TRENDS

Understanding current design trends and incorporating sustainable choices into your home improvement project can significantly enhance the end result. Here’s how to effectively research and select the best design styles and sustainable options:

Exploring Design Styles

> Online Resources: The internet is a treasure trove of design inspiration. Websites like Houzz, Pinterest and Architectural Digest offer countless images and articles on the latest trends in home design. Use these platforms to gather ideas and save them in digital mood boards.

> Social Media: Follow interior designers, architects and design magazines on social media platforms like Instagram and Facebook. These platforms provide real-time updates on trends and allow you to engage with professionals and enthusiasts.

> Local Magazines and Shows: Pay attention to local publications and home shows in the Cayman Islands. They provide insights into what is popular in the local market and may introduce you to designers and builders who understand the Cayman Islands' unique style preferences.

> Visit Local Shops: Visiting local shops

LIVE LIFE BEAUTIFULLY

can give you a tangible sense of what different materials and designs look and feel like. This hands-on approach helps in making informed decisions about what might work best in your home.

Identifying Sustainable Choices

> Research Sustainable Materials: Look for materials that are eco-friendly and sustainably sourced. Additionally, seek out companies known for their environmentally friendly practices.

> Energy Efficiency: Prioritise energyefficient appliances and systems. Look for Energy Star-rated products and consider integrating smart home technology to optimise energy use.

> Water Conservation: Incorporate watersaving fixtures and systems, such as low-flow toilets and faucets or rainwater harvesting systems. These not only save resources but also reduce utility costs.

> Eco-Friendly Design: Consider designs

that maximise natural light and ventilation, reducing the need for artificial lighting and air conditioning. Green roofs and walls, which provide insulation and reduce heat gain, are also worth exploring.

Engage with sustainability consultants or environmentally focused designers to explore innovative solutions that align with your goals. Their expertise can help you navigate the vast array of options and make choices that are both stylish and sustainable.

Turn to the Being Green chapter to find out more about sustainable choices at home.

Supporting Local Business & Industry

Incorporating locally sourced materials and working with local businesses not only supports the Cayman Islands economy but also enriches your home improvement project with authentic island character.

Benefits of Supporting Local Businesses

> Economic Impact Buying locally helps stimulate the local economy by supporting small businesses and entrepreneurs. This keeps more money circulating within the community and contributes to job creation.

> Unique Products Local artisans and craftsmen offer unique products that reflect the culture and traditions of the Islands. These distinctive items can add a special touch to your home that mass-produced products cannot.

> Environmental Benefits Sourcing materials locally reduces the carbon footprint associated with transporting goods over long distances. This helps to minimise the environmental impact and supports sustainable practices.

> Faster Turnaround Working with local suppliers and contractors often results in faster turnaround times, as there are fewer delays associated with shipping and logistics.

How to Support Local Businesses

> Choose Local Suppliers: Whenever possible, source materials from local suppliers who are familiar with the environmental conditions of the Cayman Islands and can recommend the best options for your project.

> Engage Local Artisans: Incorporate handmade items created by local artisans into your design. Whether it's custom furniture, artwork or textiles, these items add a unique and personal touch to your home.

> Hire Local Contractors: Work with local tradespeople who understand the specific challenges of construction in the Cayman Islands. Their expertise and familiarity with local regulations can streamline the building process.

> Hire Local Designers: Employ the services of local interior designers who have an understanding of the Islands' style and environmental conditions. They can craft a home that is stylish and suitable for the local climate.

CONSULTING WITH EXPERTS

> Participate in Local Markets

and Events:

Visit local markets, shops and home shows to discover new products and connect with local businesses. These events are excellent opportunities to find unique items and support the local economy.

BUILDING A FUTURE-PROOF HOME

Home improvement in the Cayman Islands is an opportunity to create a living space that reflects your personal style while respecting the unique characteristics of our environment. By working with the right team and making informed choices, you can achieve a successful project that stands the test of time.

Remember that the key to a successful home improvement project lies in careful planning, clear communication and collaboration with skilled professionals. As you embark on this exciting journey, take the time to explore your options, set realistic expectations and prioritise quality and sustainability. In doing so, you’ll not only enhance your home but also contribute to the beauty and resilience of the Cayman Islands.

CONSTRUCTION MANAGEMENT

If your renovation project requires any structural, framing, demolition or remodelling work, then you may want to consider employing a construction manager. An experienced construction manager will be able to offer advice on how to improve the layout of a room or home and make the most of a space. They will also be able to advise on the best materials for your project in terms of both sustainability and ongoing maintenance to ensure that the renovation lasts and retains its value.

For a complete list of construction management companies, see the Building in Cayman chapter.

Encompass Ltd

The Strand, West Bay Road

Tel: (345) 938 0850

Email: tkline@encompasscayman.com or ekline@encompasscayman.com

www.encompasscayman.com

Renovation services include complete home makeovers, outdoor living improvements, residential additions, roof replacements, structural repairs and commercial space buildouts. SEE AD PAGE 209

INTERIOR DESIGNERS

Hiring an interior designer doesn’t have to be an expensive luxury. More often than not, a good interior designer will save you money in the long run, especially if you’re

new to decorating and renovating. While you may think you know your likes and dislikes, an educated, skilled designer knows what questions to ask and what to look for in a client’s life story to glean details about personal tastes that can be used to create your dream. Designers also have close working relationships with subcontractors on-Island. They’ll know who is right for your project and who will offer the best value for your money. They can coordinate deliveries and

budget accurately for shipping, duty and other miscellaneous costs so there are no surprises. Also, a designer will know which vendors are the most reliable.

A designer can help you choose correctly proportioned furniture for your space. This is particularly important when ordering furniture from overseas that cannot be easily returned. Some architectural firms also have in-house interior designers, as do several construction companies.

Anna Hislop Home

4 Printer Way, George Town

Tel: (345) 949 5556

www.annahislophome.com

Offers an array of indoor and outdoor furniture, rugs, decorative lighting, Haiku fans, Frette bedding, artwork, kitchenware and unique gifts. Their expert interior design team specialises in tailored furniture packages for rentals and bespoke selections for your dream home. They also offer full-scale interior design services for new builds and renovations. Open MondayFriday 9am-5pm and Saturday 10am-4pm.

Chalmers Gibbs Architects

Residential: daniel.oregan@chalmersgibbs.ky

Tel: (345) 949 2727 ext. 1002

Commercial: christina.hefner@chalmersgibbs.ky

Tel: (345) 949 2727 ext. 1006

Landscape: kelsey.vitullo@chalmersgibbs.ky

Tel: (345) 949 2727 ext. 1013

www.chalmersgibbs.ky

As a part of a multidisciplinary architectural practice, their team of interior specialists provide services in corporate, hospitality, institutional, commercial and custom residential design, both in new build and renovation projects. SEE AD PAGE 210 & 214

DDL Studio Ltd.

2nd Floor, Buckingham Square, West Bay Road

Tel: (345) 945 3622

Email: info@ddlstudio.com

www.ddlstudio.com

DDL Studio Ltd. has a full complement of Registered Professional Interior Designers, specialising in all areas, including commercial, residential and hospitality. SEE AD PAGE 211

PASSIONATE ABOUT DESIGN

Design Studio

Unit 18A, 48 Market Street, Camana Bay

Tel: (345) 945 4977

Email: info@designstudio.ky

www.designstudio.ky

www.designstudiointeriors.shop

Design Studio is an award-winning interior design firm with locations in both Turks and Caicos and the Cayman Islands. Their scope of services include residential and commercial design, with retail showrooms offering furnishings and accessories, as well as resources for custom orders from a wide array of international suppliers SEE AD PAGE 187

Interior Design Group (IDG)

Showroom: 7 Mile Shops, 215 West Bay Road

Furniture Warehouse: 119 Dorcy Drive, GT

Tel: (345) 745 4315

Email: design@idgcayman.com www.idgcayman.com

Creating interiors with a sense of character that is not only beautiful but liveable for their clients has been IDG's motivation for the past two decades. As Cayman's design exemplar, their highly skilled creatives bring years of expertise and unparalleled value to their projects. Their showroom is open Monday-Friday 10am-5pm, and their Furniture Warehouse is open by appointment only. SEE AD INSIDE FRONT COVER

Label C

108 Bismarckia Way (Kapok, facing Foster's), Camana Bay

Tel: (345) 546 1880

Email: hello@labelcdesigns.com www.labelcdesigns.com

Label C is an interior design studio that specialises in luxury residential projects and boutique-style commercial spaces. Services include interior design, custom kitchens and bathrooms, and décor, such as furniture, fabrics and accessories.

LIVING.KY

48 MacLendon Drive, George Town

Tel: (345) 233 8700

Email: info@living.ky

www.living.ky

LIVING.KY offers a complimentary interior design service as part of their custom furniture

packages. Their team of on-site design experts will develop digital floor plans and product visualisations to help you create your ideal space. SEE AD PAGE 10-11, 75, 189 & 207

MJM Design Studio

62 Forum Lane, Camana Bay

Tel: (345) 743 4656

Email: info@mjmdesignstudio.com www.mjmdesignstudio.com

INDOOR IMPROVEMENTS

Kitchens

Kitchens are an important feature of the home. A property with an old, dated kitchen is usually harder to sell and may even decrease the property’s overall value. Even if you do not plan on selling your home, modern kitchens are more functional than old-fashioned ones.

As the kitchen is often the heart of the home, the trend of a ‘social kitchen’, characterised by an open plan floor and generally a large kitchen island, is set to continue. If a complete remodel isn’t in your budget, consider improvements, such as a new countertop or replacing the tiling or backsplash, for an easier and less costly facelift.

A neutral colour palette continues to be the colour of choice for contemporary kitchens. They can brighten up the room, make it appear larger and will also suit most people’s tastes should you decide to sell. If you find neutrals a bit flat, then you can always add splashes of colour with accessories such as brightly coloured dishware or colourful light fixtures.

The options for counter surfaces include marble, concrete, quartz, stainless steel and wood, which can all create a stunning effect. Using green products like reclaimed wood, recycled glass or handmade products is very popular and kinder to the environment when compared to some mass-produced products. See the Cabinets & Countertops section in this chapter for more information. Read on for a list of kitchen and bathroom renovations providers.

Bathrooms

Although functional in purpose, bathrooms also hold potential for creative design. Concrete sinks, rain showers, walk-in showers, wall-mounted toilets and faucets, and freestanding baths are all 'en vogue' and can be designed to reflect your home’s personal aesthetic as well as needs.

Bringing elements of the outdoors into the bathroom is a big trend, with wood and stone proving the most popular, along with using a colour palette of neutrals and

earthy tones. Accessories, such as mirrors, lighting, and even smaller ornamental changes like knobs and handles, can really transform a space and be a less costly alternative to a structural remodel.

Bathroom & Kitchen Improvements

The following companies can provide you with hardware and appliances for both your bathroom and your kitchen.

12

A. L. Thompson’s

189 North Sound Road, George Town

Tel: (345) 949 8622

Email: info@althompson.com www.althompson.com

A. L. Thompson’s houses a large bath and kitchen gallery. They stock a wide selection of fixtures, fittings and appliances, with brands that include Kohler, Delta, Brizo, Decolav, Kallista, Rubinet, Dornbracht, Whirlpool, KitchenAid, Avanti, Sub-Zero and Wolf.

SEE AD PAGE 190, 202, 204, 268 & 311

Encompass Ltd

The Strand, West Bay Road

Tel: (345) 938 0850

Email: tkline@encompasscayman.com or ekline@encompasscayman.com www.encompasscayman.com

Renovation services include complete home makeovers, outdoor living improvements,

Floritelli Cayman

Unit 1, 5 Paddington Place, George Town

Tel: (345) 929 5655

Email: info@floritelli.ky www.floritelli.ky

Label C

108 Bismarckia Way (Kapok, facing Foster's), Camana Bay

Tel: (345) 546 1880

Email: hello@labelcdesigns.com www.labelcdesigns.com

Label C is an interior design studio that specialises in luxury residential projects and boutique-style commercial spaces. Services include interior design, custom kitchens and bathrooms, and décor, such as furniture, fabrics and accessories.

LIVING.KY

48 MacLendon Drive, George Town

with LIVING.KY’s wide range of lighting, mirrors, kitchenware, accents and more. Shop by brand or room. Services include home makeovers, specialised interior design services and more.

SEE AD PAGE 10-11, 75, 189 & 207

Robert Wood Furniture & Interiors

25 Cayman Centre, Owen Roberts Drive, GT

Tel: (345) 949 7765

Email: info@robertwoodky.com www.robertwoodky.com

Wesco

81 Industrial Way, JJT Warehouse, GT

Tel: (345) 939 3788

Email: info@wesco.ky www.wesco.ky

Construction company Wesco provides kitchen and bathroom renovations for every home. From sleek and modern designs to classic and timeless, Wesco provides and all-in-one contractor experience, including buildwork, installation, electrical and plumbing PAGE 213

LIL’ BABY!

Visit us soon to check out our curated collection of unique baby and toddler brands including Rookie Humans, Elegant Baby, Mon Ami, Aden + Anais, Little Gira e, Newcastle Classics, SkipHop, plus so much more.

We are delighted to o er baby registries too!

Market Street, Camana Bay 345 947 2711

DreamTeam@bedsidemanor.ky @bedsidemanor @bedsideky www.bedsidemanor.ky

Cabinets & Countertops

Martlet Design Ltd.

59 Merrendale Drive, George Town Tel: (345) 916 7583

Email: john@martletdesign.com www.martletdesign.com

Pooley Cabinets Design Studio

17 Marina Drive, Prospect Tel: (345) 947 6780

Email: info@pooleycabinets.com www.pooleycabinets.com

Pooley Cabinets has provided quality cabinetry to clients in Cayman for over 35 years. Whether you are building your dream home or renovating your existing kitchen, Pooley Cabinets delivers the highest standard of design and installation. They offer innovative products, ranging from traditional to contemporary, professional design, expert installation and exceptional service. SEE AD PAGE 194

Wesco

81 Industrial Way, JJT Warehouse, GT

Tel: (345) 939 3788

Email: info@wesco.ky www.wesco.ky

Wesco provides fabrication and installation of granite, marble and quarts countertops. Whether it's residential or commercial, indoor or outdoor, choose from flat panel, shaker, floating or free standing cabinetry to best suit your design. SE E AD PAGE 213

Colours &

Painting

Choosing the right paint colour for a room can really transform its look. You can use your wall colour to anchor trendy changeable pieces in your room. Pantone’s 2024 colour of the year, ‘Peach Fuzz’, is a warm, gentle tone that bridges youth with timelessness.

DP Economy Services Ltd.

325 Owen Roberts Drive, George Town Tel: (345) 321 7562

Email: dpeconomyservices@gmail.com www.dpeconomyservices.com

The Paint Studio at ACE 11 Ashgo Street, George Town

Tel: (345) 949 4223

Email: info@acecayman.com www.acecayman.com/the-paint-studio

Wesco

81 Industrial Way, JJT Warehouse, GT

Tel: (345) 939 3788

Email: info@wesco.ky www.wesco.ky

Wesco provides interior and exterior painting services for commercial and residential purposes. Their services also extend to the respraying of cabinets if you're wanting a home refresh. SE E AD PAGE 213

Accessories

A rug, the perfect lamp, throw cushions and wall decor are the finishing touches that pull a home together while injecting some personality into a space.

> Pops of Colour are a low-maintenance way to liven up a room. If you’re not ready to commit to a coat of paint, consider introducing your colour of choice with easy-to-change finishes, such as drawer handles, rugs, cushions and curtains.

> Retro Accents add charm and character to modern spaces. Bespoke vintage decor can be sourced online, or for a more budget-friendly option, try browsing local consignment shops for unique second-hand pieces.

> Playing with Textures is a great way to elevate soft furnishings and introduce a few stand-out pieces in your home. Look for fabric textures, such as crisp and clean linen throw pillows, and then contrast that with more rugged rattan and macramé finishes.

Furniture Stores

There are various dedicated furniture stores on-Island helping you to furnish your dream home. Uncle Bill’s ( SEE AD PAGE 198 ) carries a selection of goods to furnish every room in your home. From bookcases and storage units to accent chairs and beds, you will find all your furniture and home renovation needs, including bath and plumbing, paint supplies, power tools and more. Ashley

Furniture ( SEE AD PAGE 195 ) , located at 360

Dorcy Drive, offers a wide selection of styles at low prices to make it easy to create a home you’ll love to live in. They have a large selection of living, dining, bedroom and outdoor furniture options, as well as home décor and accessories to personalise your space. They offer a large inventory of in stock furniture and accessories, free delivery and set up. In addition to IDG's ( SEE AD INSIDE FRONT COVER ) award-winning design services, the company operates a brick-and-mortar showroom and online boutique featuring a collection of hand selected, timeless, yet forward-looking furnishings and products that are appealing to discerning customers. Their showroom is open Monday-Friday 10am-5pm, and their Furniture Warehouse is open by appointment only. Staged ( SEE AD PAGE 193 ) offers professional home staging services designed to enhance the appeal and marketability of your property. In addition to home staging, Staged is a home decor and refillery store selling a

range of contemporary furniture and soft furnishings, as well as a variety of ecofriendly products for your home. Staged offers interior design services, as well as complete furniture packages to take the stress out of furnishing a property and can be ideal for new homeowners, investors, landlords and developers. Design Studio (SEE AD PAGE 187) in Camana Bay features an inspiring variety of furniture and accessories for your bedroom, bathroom, home and at-home office. They also stock a range of outdoor items to enhance your garden space.

LIVING.KY (SEE AD PAGE 10-11, 75, 189 & 207) stocks a wide variety of furniture for your home and office, including coffee tables, storage and shelving, entertainment units, chairs, sofas and more. They also stock outdoor furniture, including fun things like hanging benches and swivel chairs. Brands include Kichler Lighting, Ethnicraft and Surya to name a few. Marksons Furniture (SEE AD PAGE 188) has a dedicated showroom featuring a variety of items, including sectionals, dining

room sets, bedroom furniture, mattresses, accessories, area rugs and tables. For bedroom essentials, as well as interior furnishings, Tomlinson Furniture & The Mattress Gallery (SEE AD PAGE 267) on Walkers Road in George Town offers a huge variety of brands for you to choose from. The Welcome Baby section in Tomlinson Furniture also provides a wide selection of furniture and furnishings to add to your little ones' space. For children’s furniture, Bedside Manor (SEE AD PAGE 196) in Camana Bay, offers a good range of newborn equipment, including cots, playmats and more. Refer to the Furniture section in the Shopping chapter for more of Cayman’s retailers that sell furniture and accessories.

Doors & Windows

Opt for the best windows you can afford, ideally tinted, to help keep the cool air in and the hot sun out. You will also need to consider if hurricane shutters or hurricane windows are more suitable for your home.

A. L. Thompson’s

189 North Sound Road, George Town Tel: (345) 949 8622

Email: info@althompson.com www.althompson.com

A. L. Thompson’s specialises in PGT windows and doors. SEE AD PAGE 190, 202, 204, 268 & 311

Apex Group Cayman

Godfrey Nixon Way, George Town Tel: (345) 945 6229

Email: info@apexgroup.ky www.apexgroup.ky

Apex supplies a wide selection of protective solutions for commercial and residential properties in the Cayman Islands. They offer an assembly of experts who understand that your doors and windows can be the best line of defence against harsh weather and crime for your home or business. SE E AD PAGE 219

Designer Windows and Doors Ltd.

Tel: (345) 949 1058

Email: info@dwdcayman.com www.dwdcayman.com

Designer Windows and Doors' supply and

installation team have years of experience installing hurricane-rated building products with several manufacturer options and finishes. Their products include Dade County hurricanerated, leak-free windows and doors and they offer a superior level of service that surpasses client expectations. SEE AD PAGE 218

Kirk Home Centre

257 Eastern Avenue, George Town Tel: (345) 949 2521

Marksons Furniture

19 Compass Drive, George Town Tel: (345) 949 6233

Email: arwashburn@marksons.ky www.marksons.ky

Marksons offers a wide selection of window treatments that accommodate your needs with a touch of style. Browse through their collection of finishes and discover interesting fabrics, shades, shutters, sliding panels, blinds and more. SEE AD PAGE 188

Tomlinson Furniture

9 Walkers Road, George Town Tel: (345) 949 5383

Email: design@tomlinsonfurniture.ky www.tomlinsonfurniture.ky

Tomlinson Furniture offers affordable custom window treatments for residential and commercial needs, ranging from indoor plantation shutters to motorized roller-shades, blackouts, wood blinds and more. They do free at-home consultations to take measurements and ensure the perfect selection. They also do the installation. Each of their window treatment installations comes with a 10-year warranty.

SEE AD PAGE 267

Curtains, Draperies & Blinds

Although often taking a backseat to other design changes, choosing the right window dressing complements the overall style of a room. Design consistency aside, they also provide privacy and keep your home cool during Cayman’s hot summer months.

Edie’s

64 Eastern Avenue, George Town

Tel: (345) 949 6348

Email: info@edies.ky

www.edies.ky

Edie’s supplies custom-made blinds and shutters, as well as draperies and curtains which are made-to-order in their professional drapery workroom. They also offer upholstery services. Contact them to schedule a consultation. SEE AD PAGE 191

Home Tailor

Email: info@hometailor.ky

www.hometailor.ky

Home Tailor is specialised in window treatments, offering products such as drapery and sheer curtains, blinds, and wood or faux wood blinds. They provide comprehensive measurement, design and installation services to ensure a seamless experience for their clients. Additionally, Home Tailor offers design, staging and furniture packages. Beyond window dressings, they deliver a complete home experience with wallpaper, upholstery fabrics and artwork. SEE AD THIS PAGE

Flooring, Tile s & Carpets

The right flooring sets the design tone of your entire home and can guarantee a higher return on your investment when the time comes to sell. Some flooring trends include:

> COVERLAM allows the residential and commercial property developer the opportunity to have unusually large panels of porcelain tiles, ranging from 3ft wide to 11ft tall and 5.6mm thick. It gives the interior and exterior a unique look and feel.

> Wood Look Porcelain is here to stay, and the industry manages to make tile look

more like authentic wood year after year.

> Luxury Vinyl Plank is a popular option due to its durability and green credentials. These planks give the appearance of real wood without the bother of maintaining it. It’s a great option for children’s rooms as it is easy to clean, gentler underfoot than tile and some options are even waterproof.

> Paver-Style Flooring has become a top choice for outdoor living spaces. Large, sturdy slabs of porcelain can be laid directly on compacted sand or installed on concrete to create a wonderfully uniform look.

Edie’s

64 Eastern Avenue, George Town

Tel: (345) 949 6348

Email: info@edies.ky www.edies.ky

A well-established family operation, Edie’s offers an exceptional range of flooring products. Porcelain, granite and marble tiles, COVERLAM, mosaics, luxury vinyl and carpets are all available. SEE AD PAGE 191

Ledger & Looms

25 Galleria Plaza, West Bay Road

Tel: (345) 943 7847

Email: guru@ledgerandlooms.com www.ledgerandlooms.com

Cayman Island’s premium supplier of quality handmade rugs offers a huge range of traditional and contemporary designs. They also sell hand-crafted accessories and home furnishings sourced on their annual buying trips, including cushion covers, woven

baskets, upholstered furniture, table lamps, pendant lighting, Turkish towels, throws and robes. They have something for everyone — even custom orders, to make sure you get that perfect rug or accessory for your home.

SEE AD PAGE 197

Level 5 Construction

Tel: (345) 938 1733

Email: level5construction346@gmail.com

Level 5 Construction provides a selection of flooring for your home or commercial space, including vinyl and wood. Their comprehensive service provides everything you need for a flooring refresh. SEE AD PAGE 220

Paramount Carpets

317 North Sound Road, George Town

Tel: (345) 949 5000

Email: info@paramountcarpets.ky www.paramountcarpets.ky

Offers a wide range of high-quality carpets and flooring solutions, as well as rugs, tiles and tools. Their full-service operation begins with material selection all the way to installation of

finished products and maintenance services. Their installation crew takes great pride in the quality of their work, making every effort to exceed customer expectations. SEE AD PAGE 19

Robert Wood Furniture & Interiors

25 Cayman Centre, Owen Roberts Drive, GT

Tel: (345) 949 7765

Email: info@robertwoodky.com

www.robertwoodky.com

Maintenance & Repairs

The following companies can help when you need maintenance or repairs on your household appliances or interiors. See the Running Your Home chapter for more information.

The Appliance Guru

68 Sleepy Hollow Drive, Industrial Drive, GT

Tel: (345) 516 0090

Email: fixit@theguru.ky www.theguru.ky

For nearly 20 years, The Appliance Guru has been installing, maintaining and restoring

appliances across Grand Cayman’s homes and commercial properties. Whether locally bought or imported, their expert team can help set up your appliances, help maintain optimal performance and fix them when things go wrong. The Appliance Guru is a go-to for your appliance part needs, keeping an array of parts in stock for microwaves, refrigerators, dishwashers, ovens, washers, dryers, water heaters and much more. SEE AD PAGE 177

FEDA Maintenance Services

North Side, Grand Cayman

Tel: (345) 329 1334 or (345) 924 0819

Email: info@fedaservices.com

www.fedaservices.com

FEDA stands for Fast, Efficient, Dependable and Affordable service, which they pride themselves on providing to their customers. FEDA offers a wide range of contracting services, including air conditioning, electrical, plumbing, appliance repair, painting, general maintenance and more for residential and commercial properties. Since opening their doors in Grand Cayman, FEDA Maintenance Services has been fully dedicated to client satisfaction. SEE AD PAGE 179

Marblelife

Tel: (345) 945 7007

www.marblelife.com/pages/our-professionals/ grandcayman

Providing clients with natural stone a reliable, high value, quality service to meet their maintenance and restoration needs.

Home Automation & Electronics

You can now turn your home into a smart home with the capability to link all your devices, control air conditioning, secure the house and adjust lighting via your smartphone or tablet. The following companies provide installation services:

345AV Ltd.

36 Ashgo Street, George Town

Tel: (345) 927 7753 or (345) 916 7753

www.345av.net

Established in 2012, 345AV Ltd. is an AV and Automation company specialising in automated home systems by Lutron, Savant,

Seven Mile Beach

Sonos, and Control4. They offer a full range of technology solutions including Whole Home

Audio/Video, Lighting Control, Motorised Window Treatments, Whole Home WiFi, and HiFi systems. SEE AD OPPOSITE PAGE

Audiophile

Market Street, Camana Bay

Tel: (345) 746 4434

Email: info@theaudiophilegroup.ky www. theaudiophilegroup.ky

Connect Ltd.

175 Governor's Way, West Bay

Tel: (345) 749 9000

WhatsApp: (345) 939 1978

Email: info@connectcayman.com www.connectcayman.com

Enhance your lifestyle with Connect and request a free consultation on anything from a new TV, to bespoke solutions for your home or business. They offer smart home systems, WiFi enhancement, audio/visual, window treatments, automated lighting and much more. With brands such as Control4, Sonos, Ring, Samsung and Hunter Douglas their residential and commercial solutions help transform your space for maximum ease and comfort. SEE AD THIS PAGE

Creative Tech

Shop 6 Bay Town Plaza, West Bay Road, GT

Tel: (345) 946 8324

Email: info@creativetechltd.com www.creativetechltd.com

Home Security Systems & Monitoring

A home security system, which monitors the smoke detectors and whether any doors or windows have been opened, is helpful for peace of mind. See the Running Your Home chapter for more.

Island Electronics

90 Godfrey Nixon Way, George Town

Tel: (345) 949 8255

Email: info@ielgroup.com www.ielgroup.com

The Security Centre Ltd. Cayman Technology Centre, 115 Printer Way, GT

Tel: (345) 949 0004

Email: info@security.ky www.security.ky

Roofing

Whether you are building from scratch or replacing the roof on your existing home, there are a few key factors to consider. Style matters, but equally important are product cost, material weight and installation requirements.

Hydes & Sons Ltd.

84 Printers Way, George Town

Tel: (345) 949 7062

Email: service@hydessons.ky

Spray Foam Insulation

Spray foam insulation is well regarded for not sagging or slipping and creates a complete seal, keeping heat and moisture out of buildings. It also has been proven to help keep roofs attached in the event of a hurricane.

Cayman Islands Spray Foam

52 Lincoln Drive, George Town

Tel: (345) 326 6767

Storage & Organising Solutions

Basic wire racking for shelves can be bought from any home centre on Island. The following businesses also provide storage solutions:

Custom Closets

209 Dorcy Drive, Industrial Park, GT

Tel: (345) 623 5000 ext. 225

Email: closets@brandsourcecayman.com

Storage Solutions

Tel: (345) 525 2647

Upholstery Services

If you have a piece of furniture in your home that is a bit worn, consider having it reupholstered. It’s cheaper than buying a brand-new piece and it's better for the environment.

Edie’s

64 Eastern Avenue, George Town

Tel: (345) 949 6348

Email: info@edies.ky

www.edies.ky

Complete upholstery services for sofas, chairs, headboards and more, in addition to decorative accessories like custom throw pillows and bedding. They also stock and special-order fabrics. SEE AD PAGE 191

OUTDOOR LIVING & GARDENS

Landscape Gardeners

An experienced landscape gardener will approach each garden on an individual basis and will create a detailed design based on your needs.

If you are new to landscaping, there’s a danger that you could purchase a lot of plants and accessories that don’t work together, let alone survive in the Cayman sun! A landscape gardener will understand which plants work best with your property’s terrain and conditions. They will also know what plants are the most

durable, which shrubs or trees can provide good shade and increase your privacy, plus advise on long term garden maintenance. See the Running Your Home chapter for more information on maintaining your garden.

CG Landscape Architecture

Tel: (345) 949 2727 ext. 1013

Email: kelsey.vitullo@chalmersgibbs.ky

Offers professional landscape architecture services. Their designer's holistic design solutions blend culture and ecology to create functional and beautiful environments.

Eighty One West

Shamrock Road, Prospect

Tel: (345) 928 8442

Email: info@81west.ky

www.81west.ky

An emporium of all things botanical and botanical-inspired, Eighty One West is a nursery and design shop. They offer plants from the familiar to the unique, pet supplies, gifts,

aquatics, furniture and great design throughout.

Immerse yourself in a realm of inspiration or talk to their passionate people who will help you plan your next landscape or aquatic project.

Paradise Landscaping

Tel: (345) 547 1530

Email: giles@paradise.ky

www.paradise.ky

Paradise Landscaping specialises in residential and commercial landscape design and maintenance services, including irrigation, lighting, and hardscapes.

Power Flower

31 Orchard Lane, Off Crewe Road, George Town

Tel: (345) 949 2256 (office) or (345) 321 0308

Email: office@powerflower.ky www.powerflower.ky

Specialising in the fine art of balance in landscape design, Power Flower considers your needs, style and budget when designing your ideal garden. SEE AD THIS PAGE

Vigoro Nursery & Landscaping

> 96 Agricola Drive, Lower Valley

> 324 Walkers Road, George Town

Tel: (345) 949 4270 or (345) 945 5236

Email: tom.balon@vigoro.ky or craig.stewart@vigoro.ky www.vigoro.ky

Instagram: @vigoro_cayman

Facebook: @VigoroCayman

Vigoro has been providing landscaping services in Cayman for 50 years. Their services include all areas of gardening and landscaping, including design, maintenance, construction, irrigation, stone/hardscape, water features, misters, lighting and artificial lawns. Their team of nearly 100 staff have years of experience.

Outdoor Living Areas

Outdoor features and amenities, such as kitchens, decking and even fire pits, can elevate your outdoor living experience. The following companies can help source what you are looking for:

Ascend

Tel: (345) 916 3151

Email: projects@ascendky.com

www.ascendky.com

Have your own custom patio or patio enclosure, providing a beautiful outdoor space that increases privacy, protects furniture from weather damage and shields your family from mosquitos, all while adding value to your home. Ascend also makes custom-built fire pits and installs aluminum fencing for your home. Make sure your home is safe and protected with hurricane shutters. Ascend will supply and install hurricane shutters for your home to ensure it is safe during hurricane season.

SEE AD PAGE 192

Iberica Materials

The Grove, 1358 West Bay Road, SMB

Tel: (345) 938 0994

Email: info@ibericamaterials.com www.ibericamaterials.com

LIVING.KY

48 MacLendon Drive, George Town Tel: (345) 233 8700

Email: info@living.ky www.living.ky

LIVING.KY stocks a wide range of outdoor accessories and furniture. Browse through brands and items online or in-store and curate your ideal space with the help of one of their on-site design experts and complimentary interior design services.

SEE AD PAGE 10-11, 75, 189 & 207

Sticks & Stones

Grand Pavilion, 802 West Bay Road, SMB

Tel: (345) 947 8663

Email: sales@sticksandstones.ky

www.sticksandstones.ky

Offers a range of teak and rattan outdoor furniture and garden art. SEE AD PAGE 15

Stoneman Products Supply

Sleepy Hollow Drive, George Town

Tel: (345) 926 0469

Email: info@stonemansupply.com

Stoneman Products Supply produces and installs a range of high quality products right here in Cayman. Product selection includes local saw cut stone veneer, manufactured stone and precast concrete products. Their manufactured beach bay limestone, rough cut, ledgestone and range of concrete products make the perfect addition to your outside space. Whether you're wanting benches or bird baths, statues or stepping stones, visit their showroom to experience the expert quality of their locally made stone and concrete products.

SEE AD PAGE 213

The Outdoors

A. L. Thompson’s, 189 North Sound Road, GT Tel: (345) 949 8622

Email: info@althompson.com www.althompson.com

A major department of A. L. Thompson’s, the 30,000sq ft ‘Outdoors’ carries one of the widest selections of outdoor goods in Cayman. They sell sheds, decking, pots, lawn ornaments, patio furniture, camping equipment, outdoor grills, smokers and a whole lot more.

SEE AD PAGE 190, 202, 204, 268 & 311

Uncle Bill’s

343 Eastern Avenue, George Town Tel: (345) 949 7601

Uncle Bill’s Home Improvement Centre offers everything from landscaping, sheds and pest control to plant pots, patio furniture, grills and BBQs. Whether you are looking to add a little colour to your garden with tiki torches and planters, or redesign your space by adding lounge furniture and garden storage, you’ll find what you need at Uncle Bill’s. SEE AD PAGE 198

SWIMMING POOLS

A pool will add significantly to your electricity bill and, potentially, your water bill. For tips on how to run an energy-efficient pool, refer to the Being Green chapter.

Swimming Pool Trends

> Zero Entries create a beach-style entry into the pool. The entryway slopes into the pool as if you’re walking into the sea. The shallow area is a great spot to let supervised children play.

> Plunge Pools are perfect for a smaller outdoor space and a swim jet can allow

you to swim laps against a current.

> Infinity Edge Pools produce a visual effect of the water extending to the horizon and are particularly impressive where the infinity edge appears to merge with the ocean or canal.

> Swim-up Bars with submerged seating are a common resort-style feature and offer a great way to entertain guests and also stay cool.

> Acrylic Wall Pools are rare due to cost, but can massively differentiate a property, and add a distinct luxury feel to your outdoor area.

> Perimeter Overflow Pools are an evolution of the infinity pool where the water constantly flows over the edge of the pool. The water runs into a hidden catch basin and is then re-circulated into the pool.

Pool Safety Tips

Every homeowner with a pool should follow these basic safety tips:

> Always supervise children when they are in or near a pool and ensure that those in a supervisory role are good swimmers.

> Make sure everyone in your family learns to swim, including nannies and caregivers.

> Secure your pool with barriers.

> Install and use a lockable safety cover.

> Install pool and gate alarms to alert you when children go near the water.

> Keep life vests and an emergency flotation device near the pool.

> Everyone in the family should learn how to perform CPR and do basic water rescue training. The Cayman Islands Red Cross offers certification programmes. See page 363 in the Education chapter for more information.

> Keep your pool clean and maintain proper chemical levels to minimise the risk of ear infections and rashes.

The following companies can install and maintain your swimming pool:

Oasis

Harbour Walk Offices (OS16, 2nd floor), Harbour Walk, Grand Harbour

Tel: (345) 945 7665

Email: sales@oasis.ky www.oasis.ky

Oasis specialises in creating luxurious outdoor living spaces. From design to completion, they are dedicated to bringing your vision to life, whether it's a custom pool, a sophisticated patio, a stylish cabana or an outdoor kitchen. Oasis also excels in renovating existing pools and patios, transforming them into stunning retreats. SEE AD PAGE 185

Pool Patrol

North Sound Plaza, George Town

Tel: (345) 949 8543

Email: pools@poolpatrol.ky

www.poolpatrol.ky

Supplies and stocks pool and hot tub pumps, motors, chlorine generators, heat pumps, gas heaters, outdoor showers, hot tubs and patio furniture. Services include weekly cleaning, water testing, renovations and repairs.

Tell them you saw it in the

As predicted, in 2024 we saw building costs continue to increase, which significantly affected the viability of new developments for many. In May of 2024, BCQS reported a circa 8.5% annual increase in the cost of construction for Cayman, and as per the latest economic report for the Cayman Islands, there was a reduction of total building permit values, around 28%, for the first three quarters of 2023 when compared with the same period in 2022. The number of permits shrank from 825 to 548. Recently, developers have had to pull out of projects due to the rapidly increasing construction costs and difficulties obtaining construction financing. Since the end of 2023, Cayman’s local banks are generally reporting a slowdown in construction finance, particularly for bigger projects over CI$1 million. Sadly, construction costs are likely to continue to increase due to the continued high shipping and materials costs, high interest rates, increases in land values and the low supply of contractors coupled with them being in high demand. Further, due to numerous global instabilities, we are experiencing a bullwhip effect to the supply chain – small fluctuations in demand at retail level are causing progressively larger fluctuations in demand at wholesale, distributor, manufacturer and raw material supplier levels. In some areas, material costs have began to dip slightly as supply chains focus on recovery, and shipping costs are not as high as they were. Yet, both are generally much higher than pre-pandemic levels. Given the soaring costs, some developers have triggered sales agreement clauses to charge additionally to sales prices agreed pre-construction in order to cover extraordinarily inflated prices. Because of all these issues,

Cayman Building in

Photos courtesy

of John Doak Architecture

developers are struggling to deliver projects on budget and on time, resulting in a loss of confidence for buyers for pre-construction options.

BUILD ING IN CAYMAN

Long before any ground is broken, a feasibility study should be carried out to calculate all costs, including mortgage interest, against the possible return of a project. The information gleaned from this report allows you to measure your ‘dream’ against the total investment. Moving forward without taking this step can result in some costly mistakes that could otherwise be easily avoided. Consulting one of Cayman’s reputable professionals will help you consider all your project’s relevant factors – and ultimately save you time and money!

Selecting a Site

Beyond the obvious location factors of convenience to work, schools and shopping, do some research on the area – find out if any nearby road improvements are

proposed or the potential incompatibility of approved neighbouring land uses. A quick online check of the zoning map on the Central Planning Authority website (www. planning.ky/cpa) will allow you to see land uses proposed for an area and the specific zoning of the parcel you are considering. Although you should be able to obtain this information from your realtor, surveyor or architect, a little due diligence may reveal a lot. This is particularly important for commercial properties since proposals for a parcel requiring rezoning may take years to plan and to obtain the required approvals.

Geotechnical Testing

Many older subdivisions built on reclaimed land have marl fill placed over original peat material to bring up the elevation. This peat layer may be a mixture of sand, rocks and organic solids unsuitable for supporting the weight of a building. The replacement of this material with engineered fill or the design of pile foundations to penetrate down to a solid bearing material will

Transformative by design

add high costs to a build, which must be considered. An engineer can drill or dig test holes for a modest fee to allow some cost planning for foundations. Often, the engineer’s local knowledge will be sufficient to predict general soil conditions. In cases where problematic soil conditions are expected, this might be a prudent condition of a land sale.

What Do You Want?

Think carefully about the layout and configuration of your house or building and how this will work for your personal needs and objectives. Draw inspiration from online floor plans and design resources, like Pinterest or Houzz. Save any photos that inspire you and use these images to illustrate the home or office that suits your lifestyle or professional requirements. An inventory of rooms and spaces will also help determine the approximate size of the property that meets your needs. However, remember that looking at building plans online does not make you an expert and many house plans found online are generally suited to North America or Europe and may not be appropriate to Cayman. Construction techniques and building codes, weather patterns and climate on-Island can be very different to those found elsewhere. Those minimalist architectural wonders that you have fallen in love with may cost a fortune when translated into Cayman context.

Cost Planning

All too often, rough area construction costs ($ per sq ft) are used for budgeting in place of realistic assessments of probable development costs. Fooling yourself that a building will cost $x/sq ft multiplied by an approximate area is usually a recipe for disappointment or frustration later in the process. A quantity surveyor may provide you with a detailed breakdown of actual costs to expect, including:

> Soft Costs: Building permits (e.g. planning permission, infrastructure fees, etc.), stamp duty, licences, professional fees (e.g. architect, engineer and surveyor), legal fees

DE SI GN E XPERT S AR E R E ADY TO HE L P YO U

ENVISION AND CREATE A WONDERFUL SPACE WITH OUR COMPLIMENTARY INTERIOR DESIGN SERVICES AS PART OF OUR CUSTOM FURNITURE PACKAGES. OUR INTERIOR DESIGNERS DEVELOP DIGITAL FLOOR PLANS AND PRODUCT VISUALIZATIONS TO BRING YOUR VISION TO LIFE.

and utility connection deposits must be carefully factored into your overall costs. For commercial property promotion, marketing and financing costs must also be considered. For rental properties, initial period vacancy rates are estimated to predict the cost of holding unleased space.

> Hard Costs: Land, construction costs, including normal contractor costs (e.g. overhead, profit and supervision), landscaping, major appliances and site furnishings. Typically, a contingency fee (between 5%-10%) is included in estimates to account for the unexpected, which includes owner changes, site conditions or material cost increases.

Scheduling

The length of time required to complete the full cycle of planning, financing, design, commissioning and construction of a building often comes as a surprise to ‘proto’ developers. A period of up to several years may be required for a large residence or commercial property once all the factors have been considered.

When projects are geared towards completion for a specific date, planning can become critical, e.g. a homeowner entertaining visitors from abroad, a store owner aiming for a holiday retail season or a company gearing their move-in date around an annual business cycle, all need to plan for the unexpected or even the unthinkable. Delays in obtaining statutory approvals, order time for materials or equipment, adverse weather conditions and design revisions must be considered for a well-planned project.

Good Design – Value Added?

of plans from the internet or trying to design their property themselves may save thousands on architect’s fees but could end up spending more on construction costs due to delays, cost overruns or approval issues than if they had hired a professional to draft an accurate and detailed set of construction documents. Professional fees, including architecture, interior design, engineering and survey, which can quickly constitute 10%-15% of the overall construction budget, will inevitably be value added to the building. However, unlike commodities, it is sometimes difficult to assess the worth. There are several general models of how construction contracts can be structured, and depending on the circumstances, one may be recommended over another.

BUILD ING OPTIONS

Design/Build

A general contractor with in-house or subcontracted design expertise (a designbuilder) can often offer a streamlined package that is attractive to busy people who do not want hands-on involvement in the process beyond the initial design and material selection. This ‘one-stop’ approach to a contract is typically a fixed price attached to a material specification and set of design documents. The main advantages of this approach are convenience, guarantee of final cost and minimum risk for the owner. Some disadvantages may be the loss of some flexibility during the process, the added cost of the convenience factor and having no independent control

Construction Management

In this scenario, a construction manager will offer a fixed cost to manage the entire process either from the outset or based on a set of construction documents and specifications prepared independently. A construction manager functions in the role of a general contractor yet is employed by the owner. The advantages of this form of contract include flexibility during construction, market competition in sub-trade contracts and cost-control flexibility. Some disadvantages

Chalmers Gibbs is pleased to offer professional landscape architecture services.

Kelsey Vitullo (MArch, MLA) brings her unique approach to contemporary tropical landscapes to Cayman in planning both commercial and residential projects. Kelsey’s holistic design solutions blend culture and ecology to create functional and beautiful environments

CG Landscape Architecture

t: (345) 949-2727 ext.1013

e: kelsey.vitullo@chalmersgibbs.ky

ig: @chalmersgibbs_landscape

of this approach are that risk for sub-trades is assumed by the owner rather than the construction manager and there is a loss of market competition in contractor cost (fixed fee for supervision). This is typically an excellent strategy where a project needs to be rushed (or ‘fast-tracked’ in industry jargon) and there is insufficient time to prepare detailed, coordinated documents for a bid. Another good reason might be if there are likely to be a lot of changes during the design-construction process. Since the construction manager works for the owner on a fixed management fee, they are typically not profiting from changes in the work or work sequence.

Design/Bid/Build

This is the traditional method of procurement where an owner works with an architectural designer and related professionals to produce detailed drawings and specifications, often with cost reports. General contractors are invited to offer competitive tenders based on a detailed estimate of the documents within a fixed tender period. This approach has the primary advantage of cost competitiveness, and a detailed set of documents will be the best guarantee of maintaining cost control during the process. Some disadvantages of this approach may be that significant time is required for detailed document preparation and the tender period, and document errors or revisions to the contract result in some loss of cost control since changes can be costly.

A design-build project has the overwhelming advantage of convenience. By contrast, a traditional design-bid-build and construction management approach has the advantage of the competitive marketplace with multiple contractors’ estimates and the possibility of cost-saving. Traditional construction manager contracts may allow a high degree of control since the design and construction stages will involve an independent professional hired directly by the owner.

Selecting Your Team

Before making any decisions about a direction for your project, talk to professionals who are knowledgeable of the construction industry in Cayman. Each method described previously has its devotees and detractors, and it is ultimately up to the owner to decide which of the various methods will be a good fit. Seeking professional help from someone with a detailed working knowledge of these procurement options and how they work in the Cayman Islands can help you make an informed choice. Do not simply copy what someone else has done. It is important that you choose an approach after weighing all the pros and cons. While each approach may have a very different risk profile to you (after all, some people like to base-jump, while others would rather take a nice stroll along the beach), it is very important that you own this decision fully.

Whatever approach you choose, it will be the people you select to work with and manage the process who will be the

key players in developing and managing a successful project. Consider the following when choosing your design and build professionals: integrity and reputation should always be the main ingredients when selecting people, so look at current, recent and past jobs, talk to past customers and check their payment and litigation history. Choose design professionals who are adaptable and have a team spirit. Ask your contractor, construction manager and architect to provide a checklist and procedures for administering, inspecting and testing the various stages of your project. It is strongly recommended that you meet everyone who will be a part of making your project a success. Make sure you establish a good working relationship and feel comfortable with all the people who are involved.

Enquire about their current workload – can they handle your job and give you the attention and support you desire? Can you communicate with this individual or team openly? It is important that you

do your homework, take your time, and make sure that all the design professionals you intend to engage carry professional indemnity insurance. Only agree to terms after you are sure you have the ‘dream’ team that truly has your best interests at heart! While there are many components to consider carefully, some being significantly challenging and timeconsuming, building your own home is an exciting project and, for many people, it is a dream come true; so you should endeavour to have some fun too!

Designing a Security System

To have an electronic security system that is well integrated into the design of your new home, a plan should be drafted at the conceptual stages. You, your architect and an experienced security professional should work closely together to identify your needs and see what technology will be suitable to achieve your goals.

Building Greener

Changes to more sustainable building material alternatives are currently being driven by supply chain issues. For example, bamboo flooring is being used as an alternative to wood flooring. Bamboo is more expensive but grows quickly and is, therefore, a great sustainable alternative. The more consumers that move towards sustainable construction materials like bamboo, the less it will cost, as suppliers will be able to reduce prices due to economies of scale.

Those looking to build more consciously will be pleased to discover the many environmentally responsible construction practices that are widely embraced on-Island. Green construction in Cayman is recognised by the Governor’s Award for Design and Construction Excellence in Sustainability and the Environment. The idea of the award is to foster and maintain innovation, sustainability and excellence in the Cayman Islands’ construction industry. Some ways in which that is being upheld

include using recycled building materials and timber, tapping into alternative energy and waste-water systems and employing more eco-friendly home automation.

Other green tips for building include ensuring that your property is orientated to make effective use of the prevailing wind and the windows are positioned to avoid filling the house with the heat of the afternoon sun in a nod to traditional Caribbean architecture. Reduce energy consumption by insulating the exterior walls and roof of your home, and make use of the Island’s year-round sunshine with solar power panels and energy units. For more information on building green, refer to the Being Green chapter.

Development Management Services

No successful projects are accidental. They are the result of a clear plan, intelligent direction, careful financial management and skilful execution. The development of land is a complex process; it requires strategies to take advantage of the

development opportunity while reducing risk and enhancing sustainability.

Development management services can help you select a strategy that best suits your goals, and by drawing on their expertise and experience, they can put together a strategy with the greatest reward versus risk potential. Generally, development management consultants offer a combination of real estate knowledge and metrics. They provide expertise in investment management, development feasibility and viability, design, construction, permitting and leasing and financing advice.

Development managers take care of the entire property development process from initial concept through to delivery. Should the project require sales, a development manager can facilitate and manage contract preparation for sales, sales materials, including 3D visualisation, facilities preparation and the coordination of consultants and contractors to execute a successful project. There are several

FLOWERS FOAM PRODUCTS

Insulated Concrete Forms (ICF’s)

• Poured concrete walls with reinforced steel

• Hurricane resistant

• Lower energy costs

• Sound t ransmission control qualities

• High production capacity

• Cost effective

• Can be used for Commercial, Residential or Industrial Projects

Architectural Shapes

• Flexibility of shapes

• Custom look

• Manufactured locally to specification

• Easy installation, cost effective

• Columns Pediment

• Arches

• Bases & Caps

Foam Flat Sheets (for pre-existing concrete walls)

• Insulation qualities

• Sound transmission qualities

• Lower energy costs

Custom Foam Signs

• Ideal for entryways

• Manufactured locally to any specification

Steel Studs

• Steel Studs and tracks in a variety of lengths and gouges to specifications

Cay Deck

• Foam Insulation

Flooring Systems

• Insulation for floors decks and roofs

companies on-Island that offer this service. Build Cayman Ltd. (Tel: (345) 925 8517) has a specialist development management services team.

Insulated Concrete Forms

If you want to insulate yourself from the sounds of the outside world, insulated concrete forms (ICFs) may be the right option. ICFs are moulds used to hold fresh concrete in place permanently. Not only are they good at protecting the structural integrity of your home during severe weather, they also provide highly effective insulation to keep the heat out.

Flowers Group

184 Seymour Road, Industrial Park

Tel: (345) 623 0000

Email: customerservice@flowersgroup.com www.flowersgroup.com

The Flowers Foam Products division of the Flowers Group supplies state-of-the-art, locally manufactured building products, including Insulated Concrete Forms (ICF), flat foam sheets, steel studs and tracks, architectural components and custom shapes and signs. SEE AD OPPOSITE PAGE

Concrete Blocks &

Pavers

Flowers Group

184 Seymour Road, Industrial Park

Tel: (345) 623 0000

Email: customerservice@flowersgroup.com www.flowersgroup.com

Established by pioneer Clarence L. Flowers, the Flowers Block division of the Flowers Group specialises in the manufacturing and delivery of concrete products, including building blocks, grass and keystone blocks, multi-colour rectangular pavers and cobblestone pavers.

SEE AD OPPOSITE PAGE

Driveway & Paving

Flowers Group

Tel: (345) 623 0000

www.flowersgroup.com

Part of the Flowers Group, Flowers Block provides a wide selection of pavers, including cobblestones in numerous colours and sizes.

SEE AD OPPOSITE PAGE

• Kerbs

• Statues

• Parking Blocks

BEACH BAY LIMESTONE MADE IN CAYMAN

CHALMERS GIBBS

(345) 949 2727 | info@chalmersgibbs.ky www.chalmersgibbs.ky ARCHITEC TURE | PLANNING | INTERIOR DESIG N

We have been proudly serving the Cayman Islands for 60 years.

Contact us for a no obligation design consultation.

Island Paving

243 North Sound Road, George Town

Tel: (345) 949 8294

Email: info@islandpaving.net www.islandpaving.net

Carpentry & Masonry

Ascend

Tel: (345) 916 3151

Email: projects@ascendky.com www.ascendky.com

From simple repairs to bigger projects, Ascend specialises in general home/commercial carpentry and masonry with the ability to provide custom work that cannot be matched. SEE AD PAGE 192

Stoneman Products Supply

Sleepy Hollow Drive, George Town

Tel: (345) 926 0469

Email: info@stonemansupply.com

For landscape kits, stepping stones, parking blocks and so much more, Stoneman Products Supply offers a huge range of natural and manufactured stone made locally in Cayman. They have a selection of stone pavers and tiles to choose from, as well as fire pits, planters, tree rings and even construction equipment products. Visit their showroom to see the quality of their stone in person.

SEE AD PAGE 213

Flooring

The right flooring plays a significant role in both the structural integrity and the overall aesthetics of a building. For more information on flooring, tiles and carpets, refer to the Home Improvements chapter

Iberica Materials

The Grove, Seven Mile Beach

Tel: (345) 938 0994

Email: info@ibericamaterials.com www.ibericamaterials.com

Paramount Carpets

317 North Sound Road, George Town

Tel: (345) 949 5000

Email: info@paramountcarpets.ky www.paramountcarpets.ky

Offers a wide range of high-quality carpets and flooring solutions, as well as rugs, tiles and tools. Their full-service operation begins with material selection all the way to installation of finished products and maintenance services. Their installation crew takes great pride in the quality of their work, making every effort to exceed customer expectations.

SEE AD PAGE 19

Interior Design in the Building Process

A qualified designer can look at architectural plans and work out whether the space and dimensions allowed will work or raise potential problems and limitations for functionality. They will look at the plans, room by room, and work out their function, including ease of access, amount of light, acoustics, seating and places to store or set things down. They will also consider how the space will be used, whether it will be for work, leisure or entertainment, and their goal will be to create a unified whole. For more information on interior designers, refer to the Home Improvements chapter

For your kitchen, finding a designer who specialises in creating functional, beautiful spaces is essential. In today’s modern homes, kitchens are now the focal point; they are usually free-flowing spaces that are well integrated into the rest of a home and the primary place for entertaining. If you want a kitchen that is well-designed and suited to your lifestyle, then we recommend

the following companies, which have a proven track record and lots of examples of beautiful kitchens they have designed: Bon Vivant (SEE AD PAGE 216 & 269) (Tel: (345) 623 2665) is a luxury kitchenware and design store in Camana Bay, and Pooley Cabinets (SEE AD PAGE 194) (Tel: (345) 947 6780) specialises in custom cabinetry design and installation. Their in-house designer can provide expert advice on kitchen design.

Architects

There are several architectural firms that provide superior design services, including sustainable architecture options, which is evidenced by the exceptional quality and aesthetic of the many flagship homes and commercial buildings found in Cayman.

BDCL Architects

Unit 220, Canon Place, George Town

Tel: (345) 925 4909

Email: dmcgrath@bdcl.ky www.bdcl.ky

Chalmers Gibbs Architects

Tel: (345) 949 2727 ext. 1001

Email: info@chalmersgibbs.ky www.chalmersgibbs.ky

Established in 1966, Chalmers Gibbs Architects offers professional architecture, planning and interior design services. Building design experience includes residential, commercial, retail, industrial, hotel resort and institutional projects. Other specialised services include 3D modelling, brochure graphics, feasibility studies and space planning. SEE

CG Landscape Architecture

Tel: (345) 949 2727 ext. 1013

Email: kelsey.vitullo@chalmersgibbs.ky

Instagram: @chalmersgibbs_landscape

Chalmers Gibbs offers professional landscape architecture services. Kelsey Vitullo (MArch, MLA) brings her unique approach to contemporary tropical landscapes to Cayman in planning both commercial and residential projects. Kelsey’s holistic design solutions blend culture and ecology to create functional and beautiful environments. SEE

Your ultimate hub to bring your dream kitchen to

From bespoke designs to appliances, tableware, cookware, linens and kitchen tools, we provide comprehensive services from consultation and design to final installation.

Founded in 2011, Frederick + McRae has fuelled progress in architecture and interior design in the Cayman Islands by generating unparalleled improvements in the built environment and their clients’ wellbeing. By listening to and collaborating with their clients, they achieve the desired outcome in bespoke residential projects, corporate offices, medical facilities and commercial buildings. SEE AD PAGE 206

John Doak Architecture

342 Dorcy Drive, George Town

Tel: (345) 516 3625

Email: doak@johndoak.com www.johndoak.com

With over 45 years in the Cayman Islands and across the Caribbean, John Doak’s renowned design-build services for residential, resort and commercial projects have been recognised by international awards and through international and local media and publications. His firm’s services include

architecture, imagineering, engineering, interior design, master planning, landscape design, feasibility studies, construction administration and project management.

SEE AD PAGE 215

Johnson Design + Architecture

Tel: (345) 938 3828

Email: info@rjda.ky www.rjda.ky

Founded by Robert Johnson in 2013, Johnson Design + Architecture’s primary focus is to define and create progressive architecture in the Caribbean. This Cayman-based office offers full architecture, design and construction administration services, producing high-value buildings and spaces that simultaneously look good and function well. RJDA specialises in, but doesn’t limit itself to, residential and commercial buildings, with a speciality in retail planning.

SEE AD PAGE 220

MJM Design Studio

62 Forum Lane, Camana Bay Tel: (345) 743 4656

Email: info@mjmdesignstudio.com www.mjmdesignstudio.com

Robert Towell Architect Ltd.

206 North Church Street, George Town

Tel: (345) 916 8377

Email: rta@roberttowell.com www.roberttowell.com

Robert Towell has resided in the Cayman Islands since 1997. He has worked on a diverse range of developments, from large-scale commercial projects, hotels and condominiums to award-winning single-family luxury homes. Each client receives the benefit, not only of Robert’s creativity, but also of his expert local knowledge. SEE AD PAGE 218

Institute of Cayman Islands Architects (ICIA)

The role of the ICIA (SEE AD OPPOSITE PAGE) is to be an advocate for good architecture in the Cayman Islands. Its members are dedicated to high standards of professionalism, integrity and competence. As such, they pride themselves on delivering projects to a high standard, consistently within budget and with

the aim of creating and maintaining property values through great design. The institute ensures its members are highly competent in their professional arenas through local and international educational programmes and sharing methodologies and experiences.

The ICIA works with the Government, developers and the public to share ideas and help with strategic planning for major projects and developments in Cayman. The institute also helps to educate Caymanians about the many paths within the profession

and to ensure its members maintain and advance their knowledge of the art and science of architecture. For more, visit www. icia.ky. Current ICIA members:

Cindy O’Hara B ARCH MRAIC LEED AP ICIA

Design Cayman

Tel: (345) 916 1356 or www.design-cayman.ky

Donal McGrath, B ARCH RIBA ICIA

BDCL Architects Ltd.

Tel: (345) 925 4909 or www.bdcl.ky

INSPECTIONS

John Doak, CI Hon ARB RIAS RIBA ICIA

John Doak Architecture

Tel: (345) 516 3625 or www.johndoak.com

SEE AD PAGE 215

Lyle Rodney Frederick, B ARCH (HONS) AIA ICIA

Frederick + McRae Ltd.

Tel: (345) 926 3601 or www.frederickmcrae.com

SEE AD PAGE 206

Tim Peck, RIBA LEED AP ISHC ICIA

OBM International

Tel: (345) 949 8115 or www.obmi.com

William Steward, M.E. Des (Arch) MRAIC ICIA

Chalmers Gibbs Architects

Tel: (345) 949 2727 or www.chalmersgibbs.ky

SEE AD PAGE 210 & 214

Robert Towell, RIBA ICIA

Robert Towell Architect Ltd.

Tel: (345) 916 8377 or www.roberttowell.com

SEE AD THIS PAGE

Construction Management

The following companies all provide construction management services that ensure effective management of your project’s schedule, cost, safety and function.

BCQS International

North Church Street, George Town

Tel: (345) 949 8644

Email: info@bcqs.com

www.bcqs.com

BCQS is an independent property development and construction consultancy providing comprehensive advisory services to clients in the Cayman Islands.

Encompass Ltd.

The Strand, West Bay Road

Tel: (345) 938 0850

Email: ekline@encompasscayman.com

www.encompasscayman.com

Encompass Cayman provides project management services for a more hands-on construction process and a more integrated role in the fiscal aspects of

the project. SEE AD PAGE 209

KastleCay

Pasadora Place, George Town

Tel: (345) 925 6101

Email: info@kastlecay.ky

www.kastlecay.ky

Provides project management, cost consultancy, quantity surveying and advisory services, as well as valuations and insurance appraisals, dispute resolution, and sustainable procurement. KastleCay is dedicated to customer satisfaction, committed to sustainability and driven to consistently exceed your expectations.

SEE AD PAGE 221

SEL Inspections

PO Box 309 KY1-1602

Tel/WhatsApp: (345) 525 0209

Email: SELInspections@outlook.com

Third-party (independent) BCU building inspections and Chapter 17 Inspections; the fasttrack option to permit inspections.

SEE AD PAGE 217

Designer Windows and Doors (DWD) o ers a sensational range of architectural windows and doors, including full view and wall-to-wall window systems that add a ‘wow’ factor to any property. The designer windows, doors and facades are customised and created to suit all performance, project and budget needs and DWD’s service includes delivery and installation.

General Contractors

A general contractor is responsible for the oversight of a construction site, management of trades and communication between parties.

AMB Construction

68 Sleepy Hollow Drive, George Town

Tel: (345) 525 4632

Email: info@ambltd.org www.ambconstructioncayman.com

AMB Construction is service driven, specialising in residential and commercial builds, fit outs, renovations and repairs. With excellent relationships with building professionals, developers, architects, subcontractors and suppliers that help expedite key responsibilities. AMB ensures that the client’s quality project begins and finishes on schedule with an efficient transition to facility opening and operation.

SEE AD PAGE 217

Ascend

Tel: (345) 916 3151

Email: projects@ascendky.com www.ascendky.com

Ascend is a Caymanian-owned, all-in-one contractor with over 10 years’ experience in the construction industry. Ascend has been giving clients 10% off their first project since conception; the main goal being to help clients. For 2025, Ascend will be giving away 10% of their profits to a children’s cancer charity to ensure they not only make a positive impact in the Cayman Islands but make a difference across the world. Their team provides expert electrical, plumbing, tiling, carpentry, concrete slab work and more for any new or existing home/commercial project. SEE AD PAGE 192

Build Cayman

Tel: (345) 925 8517

Email: info@buildcayman.ky

www.buildcayman.ky or www.caymangroup.ky

Your premier construction partner, helping to turn visions into success stories. Experts in design/build, construction management and contracting, they excel in residential and commercial projects. Benefit from flawless execution, on-time delivery and cost-efficient material procurement. Their services are tailored

to your unique needs, backed by sustainability initiatives and Cayman Group’s expertise.

Encompass Ltd.

The Strand, West Bay Road

Tel: (345) 938 0850

Email: ekline@encompasscayman.com www.encompasscayman.com

Encompass Ltd. specialises in creating homes that are inspirational, providing comprehensive renovation/remodel and custom design/ build services. Their experienced team of professionals have in-depth knowledge and multi-faceted skillsets surrounding the construction of luxury homes and resorts, enabling them to execute extraordinary residential and commercial builds. SEE AD PAGE 209

Level 5 Construction

Tel: (345) 938 1733

Email: level5construction346@gmail.com

Level 5 Construction handles everything from start to finish in your construction project. Their services include stud framing, drywall

finishing, baseboards, crown mouldings and the installation of cabinets, closets, vinyl and wood flooring, and more. SEE AD THIS PAGE

Robson Construction

Tel: (345) 526 3428

Email: robson@robson.construction www.robson.construction

Specialising in new residential construction, marine construction, large development construction of condos and apartments and industrial, Robson Construction create reality by building your vision. SEE AD PAGE 210

Land Surveyors

Before purchasing land, hire a chartered land surveyor to evaluate your potential purchase. This is often a requirement from banks, and they have a list of approved surveyors.

Abernethy & Associates Ltd.

96 Mary Street, George Town

Tel: (345) 947 1582

Email: info@survey.ky or www.survey.ky

A land surveying company owned by Greg Abernethy, who brings over 25 years of experience to his clients. Specialising in legal boundary re-establishments, subdivisions, combinations and strata incorporations, Abernethy & Associates use the latest GPS technology and are fully equipped to perform civil engineering and building set-outs.

SEE AD OPPOSITE PAGE

WestPoint Inspections

Tel: (345) 936 2454

Email: info@westpoint-inspections.com www. westpoint-inspections.com

SEE AD PAGE 164

Quantity Surveyors & Project Managers

Quantity Surveyors carefully estimate and control costs, calculate material needs and map out project timelines for successful construction projects. They also ensure buildings meet legal standards.

BCQS International

North Church Street, George Town

Tel: (345) 949 8644

Email: info@bcqs.com www.bcqs.com

BCQS is an independent property development and construction consultancy providing comprehensive advisory services to clients in the Cayman Islands.

Blue Point Consultants

Tel: (345) 525 0706

Email: info@bluepointproperty.com www.bluepointproperty.com

RICS registered valuer offering property valuations, development appraisals, feasibility studies, acquisitions and disposals, consulting on landlord and tenant issues, property searches, reinstatement cost for insurance purposes and loss adjusting. Specialising in hotels and resorts. SEE AD PAGE 168

DDL Studio Ltd.

2nd Fl, Buckingham Square, West Bay Road

Tel: (345) 945 3622

Email: info@ddlstudio.com www.ddlstudio.com

DDL Studio Ltd. is fully regulated and recognised by the Royal Institution of Chartered Surveyors (RICS) as a provider of valuation and appraisal services. Their experienced, qualified staff strive to achieve defined deadlines with professional and accurate results, providing valuation services for all types of commercial, residential and specialised properties, as well as quantity surveying and project management.

SEE AD PAGE 211

JEC Property Consultants Ltd.

96 Mary Street, George Town

Tel: (345) 945 5930

Email: contact@jec.ky www.jec.ky

Services include property valuations/appraisals, home buyers reports, development appraisals and feasibility studies, construction cost estimates, residual valuations, investment valuations, reinstatement cost assessments for insurance purposes, assessment and negotiation of compensation for compulsory purchase, market rent valuations and valuation of leaseholds.

SEE AD PAGE 166 & 208

KastleCay

Pasadora Place, George Town Tel: (345) 925 6101

Email: info@kastlecay.ky www.kastlecay.ky

services for maximum ROI and turn your

Structural Engineers

Structural engineers work to ensure buildings work well in practice, i.e. are strong enough to support the weight of forces against them, including gravity and weather. They are also concerned with the safety of a building, relying on building codes to ensure public safety and prevent structural failure.

WestPoint Inspections

Tel: (345) 936 2454

Email: info@westpoint-inspections.com www.westpoint-inspections.com

Provides comprehensive home inspections, including full examinations of homes, which include structural integrity, exterior and site, all interior components, appliances and mechanical, electrical and plumbing systems.

SEE AD PAGE 164

Provides project management, cost consultancy, quantity surveying and advisory services, as well as valuations and insurance appraisals, dispute resolution, and sustainable procurement. KastleCay is dedicated to customer satisfaction, committed to sustainability and driven to consistently exceed your expectations.

SEE AD THIS PAGE

Procure Cayman

Tel: (345) 925 8517

Email: info@buildcayman.ky

www.buildcayman.ky or www.caymangroup.ky

Procure Cayman understand that successful projects require clear planning, consistent effort and skilful execution. Their Development Management Services minimise risk and enhance sustainability by offering expertise in design, logistics, procurement and construction. As part of the Cayman Group, they provide

Family

Matters

Everything you should know about prenuptial agreements, the process of getting divorced in Cayman, child arrangements, division of assets, and domestic violence and child abuse.

Pre & Post-Nuptial Agreements

Family Breakdown in the Cayman Islands

- The Process of Divorce

- Child Care Arrangements

- Division of Assets

- Child or Spousal Maintenance

- Domestic & Child Abuse

- Legal Costs

- Travelling with Children

Wills

Law Firms with Family Practices

The Cayman Islands is a wonderful place to live, get married and raise a family. This chapter is intended to help you navigate the legal rules and regulations that may affect your family life, both when you are starting life together as a married couple and in the event your marriage breaks down. Louise Desrosiers from Travers Thorp Alberga has provided Cayman Resident with valuable information and insights on nuptial agreements, and divorce and child arrangements for those who are separating. If you are looking for legal advice, you will find a list of reputable law firms with family offices at the end of this chapter.

PRE & POST-NUPTIAL AGREEMENTS

When planning a wedding and future together, divorce can be the last thing on a couple’s mind. But with around half of all marriages ending in divorce, more and more people are opting to draft a pre-nuptial agreement before getting married, or a postnuptial agreement once married, and for good reason.

What is a Nuptial Agreement?

A nuptial agreement is a legal document entered into by each party before marriage that sets out how the couple intends for their assets and debts to be divided between them should they get divorced in the future. It will sometimes also include how the couple wishes to deal with their assets during the marriage. A post-nuptial agreement is essentially the same thing, but is entered

into once you are already married.

When a Judge is considering how assets will be split in a divorce, the relevant legislation is the Matrimonial Causes Act (2005 Revision), which states that all the circumstances of the case must be considered. However, in October 2010, the United Kingdom Supreme Court issued a judgment in the landmark case of Radmacher v Granatino (2010) UKSC 42. This judgment, although not legally binding in Cayman Islands’ courts, is considered to be highly persuasive. Following Radmacher, nuptial agreements now form part of the factors a Judge will consider upon the breakdown of a marriage in the Cayman Islands.

For a nuptial agreement to be upheld, it must satisfy the legal test set out in Radmacher. Key points include that each party: freely entered into the agreement without undue pressure; obtained independent legal advice prior to entering into the agreement; was informed of the full implications of entering into the nuptial agreement; and there was a full and honest disclosure of both parties’ assets. The actual agreement must also be validly drafted pursuant to the laws in the jurisdiction where it is to be applied.

A nuptial agreement should also include a review clause and should be reviewed whenever any significant change in the marriage occurs. For example, the birth of a child or the receipt of a large inheritance by one spouse could drastically change the terms of a nuptial agreement.

Photos courtesy of Adobe Stock

The most recent Cayman Islands census report (2021) puts the divorce rate in the Cayman Islands at 7.6%. Data indicates that, by way of comparison, there were 2.5 divorces per 1,000 people in the United States in 2021. Speaking at the opening of the Grand Court on 10 January 2024, Chief Justice Margaret Ramsay-Hale stated that according to statistics, more than 40% of marriages in the Cayman Islands end in divorce. In 2023, 286 certificates of dissolution of marriage were granted in Family Court, up from 251 in 2022, with 355 new cases filed in 2023. There is understandably a growing concern about the cost of family proceedings and the amount of time it can take to resolve matrimonial property and child arrangement issues. So, to help navigate this very difficult time, Louise Desrosiers, at Travers Thorp Alberga, has provided Cayman Resident with guidelines on how to get divorced in the Cayman Islands.

The Process of Divorce

How to Begin Divorce Proceedings

Under the current Matrimonial Causes Act (2005 Revision), a person is entitled to get a divorce in the Cayman Islands if either of the parties is domiciled in the Islands. A ‘female’ (as the Law states) may also apply for a divorce if she has been ordinarily resident here for at least two years prior to filing for a divorce.

Grounds for Divorce

At this time, it is not possible to be granted a ‘no fault’ divorce. Instead, you must prove one of the following grounds:

> Your spouse has committed adultery and you find it intolerable to continue to live with them;

> Your spouse has behaved in such a way that you cannot reasonably be expected to live with them;

> Your spouse has deserted you for a continuous period of two years before you issue proceedings;

> You and your spouse have lived apart

Email: smccann@tta.lawyer

Direct: +1 (345) 949 0699 Mobile: +1 (345) 516 4911

for at least two years before you issue proceedings, and your spouse consents to the divorce;

> You and your spouse have continuously lived apart for five years before the issuing of the proceedings.

However, if adultery has occurred, you cannot apply for a divorce until two years have passed since the marriage date, unless you can show there has been exceptional hardship, including domestic abuse. In addition, the name of the third person involved in the alleged adultery will also be named on the court documents.

What Happens Next

There are two documents required to start a divorce. These are:

> A petition that sets out the facts of the marriage and the grounds for the divorce;

> A sworn affidavit whereby you state that the petition is true and accurate. You will also need to provide your marriage certificate or a certified copy.

The petition is then filed with the Grand

DESROSIERS

Email: ld@tta.lawyer

Direct: +1 (345) 623 2535 Mobile: +1 (345) 516 2540

Email: dmclean@tta.lawyer

Direct: +1 (345) 623 2472 Mobile: +1 (345) 516 8618

The Travers Thorp Alberga family team are highly experienced in all aspects of matrimonial law including divorce, residence and contact disputes, child and spousal maintenance, removal applications, interim and final financial provision, cross border asset tracing, pre and post nuptial agreements, private client and succession planning, wills, trusts and foundations.

: + 1 (345) 949

DEMI MCLEAN

SHAUN McCANN

Court and served on your spouse (or any co-respondent if necessary). Your spouse has 14 days to respond (or 28 days if they are overseas) and indicate whether they intend to contest the grounds for divorce. If your spouse does not defend the divorce, the Court will consider the petition. Otherwise, the case will be listed before a Judge, who will decide whether there are proper grounds for divorce and what the next steps need to be. Family matters are held in private in the Judge’s chambers.

Parties must then attend a Court ordered Mediation Information Assessment Meeting (MIAM) following the first hearing unless there are grounds not to do so, such as domestic violence. An application will need to be made if you are claiming an exemption. Mediation can cover both finances and your children. If your case is suitable for mediation, a Court ordered mediation process can begin. You will be asked to provide financial disclosure to the mediator by way of a form called a ‘MIAM 3’. Mediation is a free service provided by the Court. However, if you bring an attorney with you, this will cost you money.

If parties cannot agree on an outcome with the assistance of a mediator, the matter will return to Court. The Judge can then give direction to get the matter ready for a final hearing, where evidence will be heard and a decision made.

If you cannot agree on where the children will live, how frequently a parent should see them or how the family finances should be divided, then a Judge will decide for you. Judges will always encourage agreement, where possible, as enforced settlements can leave both parties feeling like they lacked control over the outcome and their future.

Only once financial matters and any issues regarding children are resolved will a decree of dissolution of the marriage be granted. This final step in the process is dealt with through the Civil Registry and no further appearance in Court is necessary.

Court Orders

This is not an exhaustive list, but the Judge

doesn’t just dissolve the marriage. They can also make decisions about:

1) The residence, care and control of the children of a marriage. This can include where the children should live and how they should spend time with either parent;

2) The use of a matrimonial home;

3) Periodic payments to be made by one party to the other pending suit;

4) An injunction for the protection of settled property and other property in which either spouse claims an interest;

5) The protection of one spouse from interference by the other;

6) The disposition of matrimonial property, including the matrimonial home;

7) Varying any settlement of the property of the spouses made in consideration of the marriage, whether such settlement was made before or upon the treaty of said marriage;

8) Varying any other settlement of matrimonial property;

9) Making financial provision from the property of either spouse for the children of the marriage and for the other spouse;

10) Providing for periodic payments to be made by either spouse for the benefit of the children of the marriage and for the other spouse;

11) Who pays what legal costs.

International Divorces

A person can get a divorce if they have been domiciled in the Cayman Islands. However, extra care is needed where the case has an international element to it, as a divorce could possibly be started in more than one country, but the financial outcomes might be significantly different in other places. Getting legal, tax and immigration advice early on would be prudent. See page 226.

Child Care Arrangements

Each case is different, but the welfare of any child(ren) is the Court’s paramount consideration. Sometimes, due to the living situation and the ages of the child(ren), they may spend more time with one parent, or time may be split equally. To find out more about the types of application that

can be made concerning children, visit www.judicial.ky/general-public/makingan-application-under-the-children-law.

Division of Assets

In the context of how your assets are to be divided, outcomes can include what happens to your home, pensions, savings, other assets and debts. Spousal support and child maintenance can include school fees, health insurance premiums and the cost of extracurricular activities.

It may also include general costs of living and a wide range of other things. The Court has a starting point of ‘equality’, rather than a strict 50:50 split, and such a division is not always appropriate.

Ensuring proper financial disclosure has taken place, and proper attempts to value assets correctly, should be undertaken before deciding how to split the finances. When considering how finances should be divided, the Court is guided by a number of factors starting with the welfare and best interests of any children of the marriage, and thereafter to other responsibilities, needs, and to the actual and potential earning power of each party.

Child or Spousal Maintenance

There is no specific formula to maintenance applied in the Cayman Islands, such as that adopted by the UK, who use a universal child maintenance calculator. Instead, it is open to you and the other parent to agree on an appropriate sum between yourselves. A mediator, attorney and/or the Court can help you reach an agreement for child or spousal maintenance if you cannot reach an agreement with your partner on what is a reasonable sum to be paid.

If you are unmarried, and the other parent of your child(ren) is not paying maintenance, you can apply under the Children Act for an order that they should pay you maintenance to support the child(ren). You should apply either within 12 months of the birth of the child(ren) or when the other parent stops paying you maintenance. If you are married and the other parent is not supporting you

and/or your child(ren), you can apply for an order under the Maintenance Act that they should pay maintenance for you and your child(ren). You can also apply for maintenance for children living with you at the time of your marriage. If you are divorced or a divorce application is pending, you must apply under the Matrimonial Causes Act.

When considering both child and spousal maintenance, the Court considers needs and will look at both the income needs of the spouse in whose favour the order is made and the income of the spouse who will be required to make the payments.

Any time after the spousal maintenance order has been made, the amount payable under the order can be varied by agreement or by application to the Court. This will be especially relevant if the income of the person making payments, or the need of the person receiving payments, changes. Other circumstances, such as cohabitation with a new partner, may reduce any maintenance that a person is entitled to.

Domestic & Child Abuse

You should seek help immediately if you are in a difficult or dangerous situation. If the situation is dangerous, contact the police, who will help you at any time. If you do not feel it is appropriate to call the police, the Cayman Islands Crisis Centre (www.cicc.ky) provides a 24/7 helpline (Tel: (345) 943 2422) and a walk-in service for crisis intervention and holistic support for victims of domestic abuse. They will ensure that appropriate referrals are made to the various community resource options and that emotional support and guidance are given to victims at various stages. The Court can make an order on application to protect you, your child(ren) and other connected people and, in serious situations, your spouse does not necessarily need notice of your application until the Court order giving you the protection you seek is in place.

Legal Costs

Legal costs are difficult to estimate and can

depend on the level of agreement between the parties. A completely amicable (noncontentious) divorce may cost between CI$2,000-CI$5,000. The cost of a nonamicable divorce varies and will be higher. Court-mandated mediation is free, but typically parties engage lawyers to assist. Legal aid is generally not available for civil proceedings. However, it may sometimes be available for proceedings under the Children Law started by the Department of Children and Family Services. In divorce cases, the Honourable Chief Justice has directed that legal aid will only be granted where there are allegations of recent domestic violence or children are at risk. More information can be found here: www.judicial.ky/generalpublic/applying-for-civil-legal-aid. There are additional free resources you can explore, such as the Cayman Islands Legal Assistance Clinic which represents a cooperative initiative between the Department of Legal Aid, the Cayman Islands Legal Practitioners Association and the Truman Bodden Law School under the

Family Law, Divorce and General Practice

direction of Chief Justice Margaret RamseyHale. The mandate of the clinic is to provide greater access to justice for eligible members of the community through the provision of free legal advice and assistance as a complement to the provision of legal services by the local bar and the formal legal aid system. Visit www.cilac.ky.

Travelling with Children

Following a divorce or separation, you must get permission from the parent with responsibility for the child(ren), or from the Court, before taking the child(ren) abroad. It is also prudent to specify in any Court order or divorce agreement what is intended for future travel abroad. Even if permission is given in your final court order, you should still obtain a letter that demonstrates you have permission to take the child(ren) abroad, or alternatively permission to share that order with immigration officials and/or government departments. It also helps if you travel with the child(ren)’s birth or adoption certificate(s), especially if you are a single parent and your family name is different from your child(ren)’s name.

WILLS

Once you have a family, it is especially important to have an up-to-date Will. If you die, or worse, both parents die, you will want to ensure your child(ren) is/are looked after by guardians that you have chosen. You might include the following information:

1. Who will care for your child(ren) in the event of the death of one or both parents?

2. Who will look after your child(ren)’s finances?

3. Who will be responsible for any property your child(ren) inherit?

4. How will property/finances be divided between multiple children? You will need to include things like jewellery, clothing, art and other personal possessions.

5. A named ‘executor’ or the person (often a spouse, adult child or other close family member) who will disburse funds or administer your will upon your death.

See page 106 for information on Wills.

LAW FIRMS WITH FAMILY PRACTICES

Bedell Cristin

18 Forum Lane, Suite 5305, 3rd Fl, Camana Bay Tel: (345) 949 0488

Email: caymanenquiries@bedellcristin.com www.bedellcristin.com/locations/caymanislands/

Bedell Cristin has considerable expertise in family law and offers a broad practice covering contentious and non-contentious divorce, pre and post-nuptial agreements, separation, financial and ancillary relief, and all Children Law matters, including residence, contact, custody, relocation and removal from the jurisdiction.

SEE AD PAGE 33 & 93

Cayman Family Law (CFL)

Zephyr House, Ground Fl, 122 Mary Street, GT Tel: (345) 746 5290

Email: info@caymanfamilylaw.com www.caymanfamilylaw.com

CFL is a boutique law firm specialising exclusively in family law. Their talented team of lawyers offers expert advice and representation in all areas of divorce, children and family law, including matrimonial finance, pre and post-nuptial agreements, child custody arrangements, child and spousal maintenance, mediation, wills, guardianship and more.

FrancisGrey

Suite 2206, Cassia Court,72 Market St, CB Tel: (345) 815 2800

Email: familylaw@francisgreylaw.com www.francisgreylaw.com

FrancisGrey offers specialist advice on family law matters, including civil partnerships, pre and post-nuptial agreements, contentious and non-contentious divorce and separation, division of assets, provision for residence and support, custody and guardianship.

SEE AD PAGE 56 & 64

Hampson and Company

Apollo House East, 4th Fl, 87 Mary Street, GT Tel: (345) 623 7788

Email: info@hampsonandco.com www.hampsonandco.com

Hampson and Company offers experienced

and comprehensive advice on family and matrimonial law, including pre and post-nuptial agreements, mediation, division of assets, and children issues (residence, support and relocation) through amicable settlement and, if necessary, at trial and appellate levels.

SEE AD PAGE 59, 161 & 225

Travers Thorp Alberga

2nd Fl, Harbour Place, 103 South Church St, GT Tel: (345) 949 0699

Email: info@traversthorpalberga.com www.traversthorpalberga.com

Travers Thorp Alberga has an experienced matrimonial department dealing with family law, including divorce, financial provision, child arrangements and cross-border asset tracing. They also specialise in private client work for high-net-worth clients, including succession planning, generational wealth transfer through trusts or foundations, Wills, re-sealing foreign probate, domestic probate, charitable giving and immigration (WORC and Permanent Residence), providing a full suite of legal services for your family. *Louise Desrosiers from Travers Thorp Alberga is the author of the Family Matters chapter. SEE AD PAGE 223

Other Resources

Legal Befrienders

75 Fort Street, Adonis House, George Town Tel: (345) 945 8869 or www.dcs.gov.ky/frc

Offers free legal advice from qualified attorneys on issues such as domestic violence, divorce, immigration and more. Their clinic and phone line operate every Tuesday 5pm-6.30pm. Call or walk-in. No appointments are necessary.

The Family Resource Centre (FRC)

75 Fort Street, Adonis House, George Town Tel: (345) 949 0006

Email: frc@gov.ky or www.dcs.gov.ky/frc

The FRC provides a wide range of services to support family relationships. The programmes are free and they equip families with tools and strategies to parent confidently. The FRC also provides a walk-in service for crisis intervention and assessment of victims of family violence to ensure appropriate referrals to community resources and emotional support and guidance.

The Cayman Islands’ airports welcomed 250,699 stay-over visitors from January to June in 2024, indicating an uptick of 6.5% when compared to the same period in the previous year. An approved CI$28 million proposal to lengthen the runway of the Owen Roberts International Airport to allow for larger planes will potentially increase these numbers year on year. This expansion, coupled with rumblings of a referendum on the construction of a new cruise ship port, upcoming major hotel developments, and increases in the resident population every year, means all signs point to a potential breaking point in Cayman’s already overburdened road and transport systems. That being said, Cayman’s key routes have seen many changes recently, and the sight of labourers sweltering in the midday sun as drivers navigate seemingly endless traffic cones is common, and a valiant attempt to alleviate the Island’s peak-hour traffic congestion.

On Cayman’s roads, the issue of safety maintains pole position on the minds of conscientious drivers and riders. With nine people dying and 24 serious injuries occurring on Cayman’s roads in 2023 and an average of 61 crashes each week, there was serious national concern that things were getting out of hand, so in November of 2023 the Government launched the National Road Safety Strategy (NRSS) 2023-2038, which subsequently became known as “Road to Zero”. The scheme is effectively a clamp down on road safety violations and poor driving practices, such as speeding, driving under the influence, and reckless and distracted driving. The ultimate aim

Photos courtesy of John Molyneux, Julie Corsetti & Artem

Varnitsin

is to eradicate vehicle-related fatalities and reduce the excessive amount of motor vehicle accidents on Cayman’s roads. Unfortunately, the scheme is yet to see positive results, with 2024’s vehicle fatalities nearing double digits as of August. It is hoped that new, painted speed limit markings on some of the busiest roads will be noticed by all Cayman’s drivers and not just the observant ones.

The Islands’ population is currently around 85,000, with the National Roads Authority (NRA) estimating 100,000 by 2036. With very few public or mass transport options available, commuters have little choice but to use their own vehicles. Regardless, in a hot country with minimal provisions for cyclists and pedestrians, it is the most convenient, comfortable and speedy mode of transport.

In 2023, Deloitte was commissioned by the Government to conduct an assessment of the Island’s public transport systems, finding that CI$25-30+ million of investment is needed to create a Government-run bus network. With such a large budget needed for improvements, it is fair to say that much like the proverbial bus, any public transport solutions might be a long time coming!

The need to find new ways to alleviate rush hour congestion is a contentious issue among residents, and the debate continues to grow in fervour. It is widely believed that the pace of residential development in Grand Cayman is outstripping the highway infrastructure necessary to support it. Nevertheless, as of August 2024, there are several NRA projects ongoing. The realignment and widening of Crewe Road (westbound and eastbound from Grand Harbour) commenced in June of 2024. This is the next stage of a multi-phase development that involves increasing lane capacity on the primary Grand Harbour arterials and their intersections. The area has long been considered a bottleneck, and the main cause of rush hour traffic for commuters coming from the eastern districts. But with 28,000 vehicles expected to be passing through the area by 2036 (which is a 57% increase on the current amount), the challenge is huge. Other current NRA projects include:

> A two to six lane increase of the Linford

Pierson Highway, with a connecting road from Outpost Street. Much of this upgrade is now in operation

> The extension and beautification of Godfrey Nixon Way, in keeping with a ‘neighbourhood’ theme with a landscaped median connecting Eastern Avenue to the main George Town area

> The Airport Connector Road (ACR) linking the roundabout by Cayman International School with Sparky’s Drive in Industrial Park. Phase 1 is now complete, with Phase 2 to begin construction in late 2024

> The East-West Arterial Road expansion extending from Hirst Road to Breakers. As of August 2024, the Government has approved the proposed route. The project will now move into the planning phase. You can find out more about these and other projects by visiting www. caymanroads.com.

RULES OF THE ROAD

In Cayman, there are drivers hailing from all around the world, where traffic laws can be quite different. It is crucial that drivers know the rules of Cayman’s roads to drive safely. 4,644 speeding tickets were issued in 2023, so do always try to keep your speed down to avoid a hefty fine and keep our Islands safe.

Here’s what you need to know:

> We drive on the left-hand side of the road

> Seatbelts must be worn by all passengers

> Turning left at a red light, only after a full stop, is allowed and is legal

> Using a mobile phone (unless hands-free) while driving is illegal

> We have a few four-way stops. These work on the basis of whoever gets to the fourway stop first, after making a full stop, proceeds first

> The speed limit on the Island varies between 25mph-50mph. Speeding tickets are freely dispersed to people who go over the limit

> The speed limit in school zones is 15mph when, a) amber lights are flashing or b) road markings or signs are posted

> All drivers must give way to pedestrians on pedestrian crossings

> Headlights must be fitted to dip left. Those importing cars from the US take note

> The use of fog lights is not allowed

> You cannot overtake if there is a solid single or double white (or yellow) line in the centre of the road

> The law requires that in the event of an accident involving injury to a person/ animal/vehicle, you must exchange names, addresses, DOB, registration numbers and your insurance details. Or report the accident to the police within 24 hours.

Roundabouts

Along with road widening, roundabouts have been used as a means of controlling traffic flow. There are now over two dozen located around Grand Cayman, including a couple of three-lane roundabouts. Here are some rules that can help you if you are unfamiliar with how roundabouts work and want to avoid an accident:

1) Always travel around a roundabout in a

clockwise direction. Never turn right onto a roundabout or you will turn into the oncoming, one-way traffic!

2) All traffic approaching a roundabout must yield to the traffic that is already on it that is coming from your right. All vehicles already on the roundabout have right of way and you must wait for space to get onto it.

3) Use your indicators when approaching and exiting a roundabout. If taking the first

while on the roundabout. Just before reaching your exit and as you exit the roundabout, switch to your left indicator. Check your mirrors before moving from the inner lane to the outer lane prior to exiting to ensure that no one is overtaking you on the outside.

Using the Centre Turning Lane

The turning lane in the centre of some roads is designed to help drivers turn

lane should never be used for overtaking.

Overtaking

As traffic volume increases, more of Cayman’s single-lane carriageways are being upgraded. On a two-lane dual carriageway, you should stay in the lefthand lane. Use the right-hand lane for overtaking or turning right at roundabouts. After overtaking, move back to the lefthand lane when it is safe to do so. On a

you may use the middle lanes or the righthand lane to overtake vehicles to your left, but you should return to the middle lanes and then the left-hand lane when it is safe to do so. Overtaking using an inside lane is not permitted. Finally, always remember MSM or mirror-signal-manoeuvre, prior to overtaking another vehicle.

School Buses & School Zones

Under the Traffic Act (2021 Revision), when a school bus has its lights flashing and has stopped to allow children to get on or off, drivers are not permitted to overtake. This applies to vehicles approaching the bus from both directions. If you approach a bus that is letting children off, stop at least 20ft away and wait until the bus has pulled away before you continue driving. You should also pay attention to the 15mph speed limits in designated school zones. At certain times of the day, warning lights flash outside schools and school zones.

Cell Phones, Texting & Driving

A CI$150 fine is automatically issued to anyone seen driving while talking on a mobile phone unless it is hands-free or mounted. In 2023, 391 tickets were issued by the RCIPS for drivers using a mobile phone whilst operating a vehicle. In section 78 of the Traffic Act (2021 Revision), it states that the ban on mobile telephones whilst driving does not apply, so long as their use, “does not require the pressing of more than one button to make, receive or terminate a telephone call.” You are, however, legally allowed to use your phone while driving if you are calling 911 to report an emergency and it is impractical to pull your vehicle over.

Children & Car Seats

Cayman’s Traffic Seat Belts Regulations (2012) state that any child travelling in a motor vehicle must wear a seatbelt or, for those under two, be seated in a car seat attached by a seatbelt. It also states that a rear-facing child’s car seat must not be fitted in a seat with a front airbag. Children’s car seats can be purchased

from Little Coconuts (www.littlecoconuts. ky). Second-hand options can be found on EcayTrade (www.ecaytrade.com) and Facebook Marketplace.

Tinted Windows

In 2023, 604 traffic fines were issued for vehicle windows that were tinted in excess of that permitted by law. Whilst a certain level of tinting of your car windows is permitted, it is important to know how dark you can make them. In Section 23 (3) of the Traffic Act, (2021 Revision), it states that you may tint your front passenger and driver windows up to 35%, rear and quarter glass windows at 15% and 15% for the rear windscreen. The front windscreen may only have six inches of tint measured from the top at any degree. Tint installers, police and vehicle inspectors use light meters to determine legal compliance. If your car windows do not meet the criteria, you risk being fined and your vehicle will fail a licensing inspection until the tint is brought within legal levels. Having your car tinted to the legal limit can significantly reduce the temperature in your car and we do recommend it. The average cost to have a sedan tinted is CI$200 and for an SUV it is CI$250. Two companies specialise in it: Cayman Window Tinting, Tel: (345) 939 7343 and X-Press Professional Window Tinting, tel: (345) 916 0502.

Drinking & Driving

Although the drinking and driving rules in Cayman are strict, driving under the influence continues to be one of the leading causes of fatalities and serious collisions on Cayman’s roads. In 2023 there were a total of 270 arrests in relation to DUI offences, an increase of 36 (or 15%) compared to 2022. Approximately 43% of all DUI offences in 2023 involved a driver that was at least double the drink-drive limit. And in 27% of DUI offences, the driver was three times the drink-drive limit. Only around 9% were recorded being between the new limit of 0.07% and the old limit

of 0.1%. If you do intend to drink prior to using Cayman’s roads, ensure that you take a bus or taxi. See page 243 for more information on taxi options. Failing that, designate a driver in your group who will not be drinking.

If you are caught either driving or sitting in the driver’s seat of a car while over the legal limit of 0.07% (70mg of alcohol in 100ml of blood), you will be fined CI$1,000 or imprisoned for six months, and you will lose your driving licence for a year. Repeat offenders face larger fines, longer jail terms and permanent driving bans. Having a DUI conviction can also affect your ability to obtain a work permit in Cayman.

LEGAL REQUIREMENTS

DRIVING LICENCES

Theory & Driving Tests for NonLicence Holders

For those wanting to join the 64,284 individuals with a valid Cayman driver’s licence, or the 2,725 that have been issued in 2024 at the time of going to press, the path is routine, but the process is quite slow. First, you must book a theory test of driving knowledge at one of the Department of Vehicle & Drivers’ Licensing (DVDL) offices or you can email: dvdlexambookings@gov.ky. You have 40 minutes to answer 40 multiplechoice questions (on a touchscreen computer), of which you must get 80% correct. Nine incorrect answers in a row is an automatic fail. The test costs CI$25 and, if there is space available, you can take the test at the time of booking. In the Cayman Islands, you have to be 17 years old to apply for a licence. Take your passport on all visits to the DVDL test centre for proof of identification. To learn all you need to know to pass the written test, the DVDL recommends that you review their official Road Code booklet, which can be found on their website, as well as parts of the Traffic Act (2021 Revision) and all of the Traffic Regulations (2012). Their website (www. dvdl.gov.ky) has a wealth of information

on it, including links to all the traffic laws. Alternatively, there is a very detailed and well-informed driving instruction book called ‘Drive Safely in Cayman’ by Graham Walker, who started teaching driving in Cayman in 1992. He has retired from teaching on the road but still updates his book every other year. It costs about CI$20 and is available at local booksellers.

Having passed the theory test, you can then obtain a learner’s licence for CI$60, which is valid for six months and allows you to drive whilst accompanied by someone with a full Cayman licence (who has been qualified for one year). An ‘L’ plate must be visible on the front and back of the vehicle. Make sure that your car insurance policy covers a learner driver; most will require that the learner is put on the insurance.

Four weeks after obtaining the provisional licence, the practical road test can be taken for a fee of CI$50. Note: It cannot be taken earlier than

four weeks or later than six months after obtaining the provisional licence. You can book an appointment for the practical road test in advance after passing the written test. A full driver’s licence will be issued when both exams are passed. For Groups 0-3, the fee is CI$75 for three years or CI$125 for five years. For Group 4+, it is CI$120 for three years, CI$200 for five years or CI$400 for ten years.

Cayman Islands residents can now collect their renewed driver’s licences from local post offices. This new option was introduced by the Government to streamline the process. Motorists have the choice to renew their licences online at www.dvdl.gov.ky and collect them from the post office, or they can opt for in-person renewal at DVDL offices.

There is no difference in a driving licence for automatic or standard shift (manual) cars. You can take your test in either type of car and then drive whichever you like.

Driving Instructors

Brand new drivers to Cayman’s roads should organise driving lessons with the following instructors who have been approved by the DVDL The Real Thing Driving School - Francisco Baccay (Tel: (345) 328 1357). Cherry Marie Scott (Tel: (345) 928 8284) offers the two-hour theory lesson and a pre-test on the driving rules. There’s also Martin’s School of Motoring (Tel: (345) 923 7218). For lessons in riding a motorbike, call Keith Keller at the Cayman Islands Motorcycle Riders Association (Tel: (345) 916 6438).

Converting an Existing Licence

According to the Traffic (Amendment) Act (2021 Revision), if you have a full, valid domestic driving licence from a Convention country, that is, a country within the Geneva, Vienna or Paris Convention on Road Traffic Agreement (see www.dvdl.gov.ky for a full list of applicable countries), you may drive on it for a period not exceeding six months.

You must then take (and pass) the written theory test before your licence can be converted to a Cayman driver’s licence. This basically means that people from all the major European countries, most major English-speaking countries (including Canada, the US and South Africa), and a handful of Caribbean countries, are entitled to obtain a Cayman driving licence after they have passed the written theory test. You then have the option of getting a driver’s licence that is valid for three, five or ten years.

If you currently have a learner’s permit or are enrolled in the Graduated Driver’s Licensing Programme from another country, then you will have to schedule to take both the written theory and practical road tests in Cayman.

If you have an International Driving permit, you can legally drive on it for as long as it is valid. However, you cannot convert an International Driving permit to a Cayman driver’s licence.

If you have a full, valid driving licence from a country that is not a Convention country, then under section 29 of the Traffic Act (2021 Revision), you are allowed to drive for only one month if you drive a motor car, a truck not exceeding 8,500lbs, or a motorcycle under 125cc. After one month, you are required to pass both the written theory and practical road tests. However, you do not need to hold a learner’s licence to sit the practical road test since you already have driving experience.

If you are caught driving without a valid licence, there is an automatic CI$4,000 fine or imprisonment for up to 12 months.

If you are a legal resident, you can drive on Cayman’s roads if you:

> Have an International Driver’s permit. As long as it is valid, you are exempt from the requirement to hold a Cayman driver’s licence and can, therefore, drive on it legally.

> Have a full, valid domestic driver’s licence from a Convention country. You can drive in Cayman for up to six months before having to pass the written theory test so you can be issued with a Cayman driver’s licence.

You cannot drive after the intial six months has passed without taking the written test.

> Have a full, valid domestic driver’s licence not from a Convention country. You can drive for one month in Cayman, but only a motor car, a truck not exceeding 8,500lbs, or a motorcycle under 125cc. To legally drive thereafter, you must obtain a Cayman driving licence by passing both the written theory and the practical road tests.

> Have a full Cayman driving licence. Cayman driving licences are only valid for either three, five or 10 years. You will need to get your licence renewed promptly or you are effectively driving without a licence and therefore driving illegally. If caught driving without a valid licence, you will be suspended for 12 months.

If you are a visitor (i.e. not a resident and you don’t have a work permit):

> You can drive in Cayman provided you have a valid driver’s licence and insurance coverage.

> Visitors who have a full, valid driver’s licence from a convention country can drive for six months in Cayman.

> Visitors who have a full, valid driver’s licence not from a convention country can drive for one month in Cayman, provided they only drive a motor car, a truck not exceeding 8,500lbs or a motorcycle under 125cc (Section 29A Traffic Act 2021).

If you lend your car or truck to a visitor, you must ensure they have a valid driving licence, otherwise they will be deemed to be driving illegally and this could invalidate your insurance.

You must be very clear on what your insurance company requires before covering you. Some policies have very strict age limitations, while some will not insure people until they are 21, 23 or even 25 years of age. Additionally, most insurance companies will not insure new drivers to drive an SUV until they have had a licence for one year.

Obtaining a Driving Reference Letter

A driving reference letter, also known as a driving record, can be obtained from the

DVDL which outlines the driver’s licence history in Cayman. The document costs CI$75 and takes approximately three working days to be processed. Obtain this before leaving the Island if you intend to drive overseas in places like Canada where you will not be issued, or reissued, a Canadian driver’s licence without it.

DVDL Offices

The Department of Vehicle and Drivers’ Licensing (www.dvdl.gov.ky or email: dvdl. helpdesk@gov.ky) is authorised to inspect and test vehicles, register motor vehicles and maintain the register, issue licences in respect of motor vehicles and drivers, and conduct driving tests.

The Department of Vehicle & Drivers’ Licensing (DVDL) has three locations in Grand Cayman: > 990 Crewe Road, Red Bay, Tel: (345) 945 8344. Open: Monday-Friday 8.30am-4pm. No vehicle inspections on Wednesdays.

> Jacques Scott Plaza, 2357 West Bay Road, West Bay, Tel: (345) 949 7231. Open: Tuesday-Friday 10am-6pm and Saturday 9am-4pm.

> 2035 Bodden Town Road (opposite the South Coast Bar and Grill), Tel: (345) 244 5528