October 27, 2020

The champagne standard of living

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champagne_1498620cFrom Coldwell Banker

Friday’s Forbes Where to Live article provided an interesting metric – measuring the best place to live by the cost of a bottle of champagne. Cayman hotels rank right behind Moscow at $650 a pop. (Dear Hoteliers – please tell us where we can get this fabulous deal?!)

Champagne price comparisons are apt in light of the fact that historically our property values increase year on year. More recently Cayman Islands are receiving international praise for both privacy policies and our good standing in the tax compliance arena.

For ultra high net worth individuals nonplussed by Russia’s expensive

Cristal and meager 82 days of sunshine per year, a warm safehaven overlooking the ocean must be the solution.

Let’s compare sandy tax free domiciles: Bahamas One percent property tax for non-permanent residents Gibraltar Taxes on the first $90,000 of income. To be considered for full time residency, you need two letters of recommendation deemed worthy by the government. Bermuda Permanent residency is difficult to get. Non-Bermudans must buy houses worth over $1 million. The government charges a 22% property tax.

Cayman Islands No personal income taxes, no capital gains taxes, no corporate taxes, no payroll taxes and no withholding taxes on domestic or foreign entities. This begs the question why drink champagne in our hotels when you can own waterfront property on Millionaires Row?

Beautiful private North Side is number one for wealthy individuals seeking a real safehaven. Over the years, many of our owners in Cayman Kai, Rum Point and Kaibo have transformed secluded parcels into beautiful residences and second homes. Which we love to visit.

We can show you every available property in one of the worlds most exclusive neighbourhoods.

Is it time for us to meet?

Naturally, we provide the champagne.

For more on this story go to:

http://m.cbislands.com/?affiliate=2

 

 

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