Why do rich people go to Cayman Islands?

The Caymans have become a popular tax haven among the American elite and large multinational corporations because there is no corporate or income tax on money earned outside of its territory. 1 This includes interest or dividends earned on investments, making the Caymans especially popular among hedge fund managers.

How much is a house in the Cayman Islands?

House prices in the Seven Mile Beach area, particularly popular Grand Cayman neighbourhoods such as Crystal Harbour and the Yacht Club, typically start at $2 million and up. For those who prefer to rent instead of own property, the average rental price per month for a two-bedroom apartment is $4,000.

Is Cayman Islands a rich country?

The report, which examines the economies of 13 Caribbean countries, notes that in terms of wealth per capita, “the Cayman Islands stands as the regions wealthiest nation with a GDP per capita of US$54,338 while Guyana stands as the poorest on a per capita basis with a figure of US$3,596.”

What is Cayman Island known for?

Proud to be known as the culinary capital of the Caribbean, the Cayman Islands is a haven for foodies. Fresh seafood, vibrant flavours and a strong farm- and sea-to-table ethos make the culinary offering diverse and delicious. The best way to see the Cayman Islands is to explore at your own leisure.