West Indies Brokers Ltd Blog

Option 1: Residency Certificate for Persons of Independent Means
 
This Certificate, which is valid for 25 years and renewable thereafter, entitles the holder (and any qualifying dependants) to reside in the Cayman Islands without the right to work.
 
An applicant must invest a minimum of CI$1,000,000 (US$1,219,513), of which at least CI$500,000 (US$609,757) must be in developed residential real estate in Grand Cayman AND must either demonstrate a continuous source of annual income of CI$120,000 (US$146,342) without the need to engage in gainful employment in Grand Cayman ORopen an account with a Cayman Islands Monetary Authority-regulated and locally licensed institution and maintain a minimum deposit in the account of at least CI$400,000 (US$487,805) in assets.

Option 2: Certificate of Permanent Residence for Persons of Independent Means
 
This Certificate provides the holder (and any qualifying dependants) with a lifetime grant to reside in the Cayman Islands without the right to work. Unlike Option 1, the holder or spouse can apply for a variation to the Certificate in order to obtain the right to work.
 
An applicant must invest a minimum of CI$2,000,000 (US$2,439,024) in developed real estate in the Cayman Islands (regardless of which Island on which they intend to reside) and although there is no specified minimum annual income,all applicants must be able to demonstrate that their financial resources are sufficient to maintain themselves and their dependants adequately.

Source Link : http://www.westindiesbrokers.com/blog/a-guide-to-residency-options-in-the-cayman-islands-for-persons-of-independent-means

Not educating yourself on the buying process, this can be very stressful and frustrating as buying your first home is a very big commitment and a very important moment in your investment history.

Not having the right real-estate team in place / not to have a real-estate team at all. Simply put, having a professional real estate expert will not only save money but time!

Source Link : http://www.westindiesbrokers.com/blog/are-you-a-first-time-house-buyer-seven-mistakes-to-avoid

Pre-approval for your Mortgage:

Interview with banks / Choose your top bank and negotiate your mortgage rate. When discussing a mortgage with your loan officer it is a good idea to have them provide you with a list of documents required for approval, depending on your situation, for example; where you are from & how long you have been resident in the Cayman Islands (?)

They will require credit information and or a letter of introduction from your previous bank, having the referral items, credit rating items and the bank's list of requirements prior to your visit will allow you to speed up the mortgage approval process.

Source Link : http://www.westindiesbrokers.com/blog/5-important-mortgage-guidelines-to-follow-for-your-cayman-home

A purchaser in today’s market can afford themselves with a substantially attractive Cayman Islands inland property in the low USD200,000.00 to a multi-million dollar property high on a cliff or right next to a soft coral sandy beach just steps from the back patio. The variety of property selection is fabulously abundant. The only restriction would be the investors pocket book or investment memorandum!

We really do feel that the Cayman Islands real estate is extremely good value for the investor’s money and comparative to the immediate geographical countries to the Cayman Islands jurisdiction, property is tremendously well priced and looking regionally this comparison also sustains.

Source link : http://www.westindiesbrokers.com/blog/investing-in-the-cayman-islands

mag*ic / miraculous, marvelous, amazing, wonderful, enchanting and bewitching – all latter nouns not only offer excellent synonyms towards the word “MAGIC” but more so, offer the total definition of owning Real Estate in the Cayman Island! Owning Real Estate in the Cayman Island is unadulterated “Island Magic”!  Real Estate = Island Magic.

Grand Cayman, West Indies Brokers focused market (but not limited), is simply a miraculous Island being able to offer a distinguished “Island Magic”, which contrary to popular belief, the “Magic” does not have to come at the cost of millions, rather “beginner Island Magic” can be had in the low six figures!  

Source link : http://www.westindiesbrokers.com/blog/real-estate-is-and-makes-true-island-magic

This four-year-old house on Grand Cayman Island, in the 52-acre gated development of Vista del Mar, is on a canal leading into the North Sound. It is about a 15-minute walk from crescent-shaped Seven Mile Beach and adjacent to the Cayman Islands Yacht Club, said Malin Ratcliffe, the owner-broker of West Indies Brokers Real Estate, which has the listing. The two-story white concrete home, about 9,000 square feet on a 0.58-acre lot, has a Caribbean-style limestone finish halfway up the lower level and a red tile roof. There are five bedrooms and five and a half baths, and furnishings are included in the asking price.

A grand staircase with a limestone facade leads up from the front lawn and turns at a landing toward a covered porch and a 12-foot-high arched mahogany front door.

Source link : http://www.westindiesbrokers.com/blog/house-hunting-on-grand-cayman-island