
We get asked a lot about the Stamp Duty Law, and for good reason. With changes to the Stamp Duty Laws coming into effect on January 1, 2020, we wanted to break things down and answer some FAQs we get on the topic.
In short, stamp duty is a one-time tax paid to the CI Government on all real estate transfers in the Cayman Islands. It's a flat rate of 7.5% of the purchase price of the property, less the value of any chattels (furniture and appliances). This may seem steep, however it's worth noting that this is the only tax you will ever pay on your property. The Cayman Islands have:
- Zero annual property taxes
- Zero capital gains taxes
- Zero inheritance taxes
- Zero state/council taxes
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