Retirement on the Cayman Islands

When the time comes for you to retire, you may find yourself considering destinations that you would never have thought of earlier. Such as the Cayman Islands, which basically consist of three islands – Grand Cayman, Cayman Brac and Little Cayman. These three islands are located in the western Caribbean, northwest of Jamaica and south of Cuba and Miami. Georgetown on Grand Cayman is the capital city.

The total area of these islands is 100 square miles, the largest being Grand Cayman, which covers an area of 76 square miles. Cayman Brac and Little Cayman cover 14 and 10 square miles respectively. These islands are a popular destination for diving enthusiasts and there is an abundance of scenic beauty.

You can enjoy a good life on these islands. There’s a dry season from November to April and a rainy season that lasts from May to October. It’s generally driest in March and April, while the wettest months are usually May and October. Temperatures vary between 75°F in winter and 85°F in summer. However, don’t let the pleasant weather make you complacent. There’s still every possibility that you could get sunburn.

There’s a wide variety of flora and fauna here, with many animals that are indigenous to the area. There’s also a wealth of marine life here, the most popular of which is the green turtle.

Life in the Cayman Islands can be quite enjoyable. The region is a British Colony and the vast majority of people, male and female, are literate. British law governs the area and the official language here is also English. However, Spanish is also spoken by foreign nationals, from Latin America, Cuba etc.

If you decide to retire in the Cayman Islands, you’ll find all the regular conveniences at your disposal. There is no direct taxation so this area is a prosperous financial hub, and a large number of companies conduct their operations from here. This includes nearly 600 banks and trusts.

53% of the total population belongs to the Cayman Islands. As far as housing is concerned, you’ll find both apartments and condominiums, of which 45% are occupied by owners. Even so, there is a large proportion of foreigners who have lived and worked in the area for varying lengths of time.

Telecommunications, television and Internet services are fairly well developed here so you can be sure that you’ll have modern amenities at your disposal. This includes the mobile network.

If you are looking for housing, you’ll find property prices a little on the high side and tending to increase every year. Prices are highest on Grand Cayman, but you can expect the price of land to be lower on the other islands. There are no restrictions against foreigners owning land in the Cayman Islands. If you were looking to acquire property, it would be best to consult a real estate agent.

There are still several properties on the beachfront or overlooking the ocean on Cayman Brac and Little Cayman. If you are thinking of retiring here, these will probably be just the kind of properties you would be interested in. The cost of living here is also fairly reasonable.

So do you think the Cayman Islands will suit you as retirement destination? As you can see, the area is quite well developed with all the conveniences of modern life and you are free to own property here. You have a pleasant climate, plenty of scenic beauty and the chance to live a peaceful life here. It does sound like rather a good place to retire in, doesn’t it? Think it over and you’ll probably agree.

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