Stamp Duty Loophole in Cayman Islands Closing Sparks Fear of Missing Out
Mar 20, 2019
OKCayman advises how to purchase real estate in the Cayman Islands before closing of stamp duty loophole. Previously, buyers needed to pay stamp duty only on the raw land when buying a land and development package.
Cayman Islands - March 19, 2019 /MarketersMedia/ —
OKCayman, a leading international real estate website, offers interested buyers a way to minimize stamp duty on pre-construction property transactions in the Cayman Islands. All interested buyers have approximately 9 months to buy before the increase in stamp duty takes effect.
Under Stamp Duty (Amendment) Law Bill 2018, starting from 1st January 2019, interested buyers will have to pay a duty of 7.5% over the total value of the property. Contact Eloise at OKCayman to minimize stamp duty now and a full explanation of how the stamp duty bill will affect pre-construction.
OKCayman is part of the Century 21 Thompson Group. Having operated for over 47 years in the real estate industry, Century 21 Thompson offers the best properties in the Cayman Islands. The company holds the master franchise to enter the Caribbean Basin. Buying, selling and renting is Century 21’s forte.
After closing successful deals in the Cayman Islands for over 25 years, Century 21 went through a complete rebranding. With a new sophisticated logo and a refreshed color pallet, the company embraced a modern identity.
Eloise Jiggins, a realtor and founder of OKCayman stated, “Being part of the Century 21 group gives organizations such as OKCayman a real strength and security of a worldwide network with access to the latest technology and latest market trends”. Sellers were also assured that their properties will gain exposure to the widest market.
Eloise Jiggins at OKCayman.com has access to CIREBA, the Cayman Islands Real Estate Brokers Association. The company brings to its customers access to all the properties listed by the major brokers of the Cayman Islands. OKCayman can access properties the moment they are online.
For a long time, property developers have minimized stamp duty for their clients by structuring and dividing their contracts into two parts. Additionally, concessional rates have also been made applicable for first-time property buyers in the Cayman Islands.
With the implementation of The Stamp Duty (Amendment) Bill 2018, stamp duty on pre-construction properties will soar up. Only developers with planning permission in place by 30 June 2019 will be eligible to take advantage of pre-existing stamp duty rules. However, contracts must entered into before 31 December 2019.
As an estate agent with multiple contracts in place, Eloise Jiggins can offer interested buyers with billions of dollars worth of listings.
Eloise Jiggins promises “I stay available for my customers throughout the transaction, starting from the first showing till they hold their keys”. She resides in Cayman herself and is passionate about real estate.
As can be seen from her profile, Eloise from OKCayman.com, has been highly approachable. There’s been no property in Cayman that she cannot access. She emphasizes “We work for you as a team and therefore the entire process is much more efficient. The team gathers every week and discusses your property and needs regularly.” She also promised her clients more leads directed at their property.
About the Company
Founded by Eloise Jiggins, OKCayman.com is a leading real estate website that specializes in properties in the Cayman Islands. The company is part of the Century 21 Group and boasts a pedigree of 25 years and has dealt with properties in every acre of the Cayman. A strong online presence, including a revamped website and branding, the company attracts many clients.
Contact Info:
Name: Eloise Jiggins
Email: Send Email
Organization: OKCayman
Address: GRAND PAVILION CENTRE, 802 WEST BAY ROAD, GRAND CAYMAN, CAYMAN ISLANDS, KY1-1201
Phone: 1 345 926-8205
Website: https://www.okcayman.com
Source URL: https://marketersmedia.com/stamp-duty-loophole-in-cayman-islands-closing-sparks-fear-of-missing-out/493639
Source: MarketersMedia
Release ID: 493639
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