Buying Cayman Property as an Expat: What People Get Wrong

Buying in Cayman as an expat feels “complicated” mostly because people import assumptions from other countries. In reality, Cayman is simpler in some ways, stricter in others – and most of the pain comes from misunderstanding how the rules actually work.

Misconception 1: “I need residency or a passport to buy.”

You do not need Caymanian status or permanent residency to purchase property. Plenty of non-residents own condos, houses and land here. What trips people up is confusing ownership with immigration. Owning property does not automatically give you the right to live and work in Cayman full-time. Immigration and property are two separate universes. The classic mistake is buying first and assuming you’ll “just sort residency later.”

Misconception 2: “There are crazy annual property taxes.”

Cayman does not have annual property tax like the US, Canada or the UK. The main hit is the upfront stamp duty on the purchase price and sometimes on certain changes to title or structure. Where buyers get burned is ignoring the rest of the bill. Your real budget is: purchase price + stamp duty + legal fees + renovations + furniture + running costs (strata, insurance, maintenance). If you only look at the sale price, the closing table will hurt.

Misconception 3: “Any Cayman property is a cash-flow machine.”

Many expats buy assuming short-term rentals will magically cover everything. Reality check: Location, strata rules and management quality matter more than listing photos. Insurance and hurricane-related costs are real. Some buildings do not allow Airbnb-style rentals at all. If your numbers only work under perfect occupancy, fantasy nightly rates and made-up cleaning fees, they do not work.

Misconception 4: “The lawyer is just paperwork. I’ll save money by rushing that.”

In Cayman, a good local attorney is not optional. They check title, covenants, access rights, zoning, strata health and all the boring details that stop you from buying into a legal headache with a sea view. Cutting corners here is how you end up with surprise restrictions, boundary issues or a strata that is financially underwater.

The smart expat approach

Treat Cayman like a serious investment market, not a vacation impulse. Understand the difference between immigration and ownership. Model the true costs, not just the sticker price. Be honest about rental income instead of assuming every week is high season. Use a solid local lawyer and ask the “awkward” questions before you sign anything. Do that, and Cayman property stops being a mystery and starts being a strategic move.

Start checking real Cayman properties

If you’re thinking about buying or just want to see what’s actually on the market, start with real listings – not just theory. See Cayman listings on ListCayman