The Stamp Duty (Rates of Duty) Regulations, 2025 (“the Regulations”) tabled in Parliament on Friday, 31 January by Premier and Minister for Finance & Economic Development, Hon. Juliana O’Connor-Connolly, were published in the Cayman Islands Gazette on 12 February and are now in effect.
The Regulations both increase the value of properties on which stamp duty will be exempted or reduced for first and second-time Caymanian buyers, and expand these concessions to properties in all areas of the Cayman Islands.
For first-time Caymanian buyers, stamp duty is removed completely on the purchase of property valued up to $550,000 and applied at a reduced rate of 3.75% for properties valued at between $550,000 and $650,000 on the amount over the $550,000 threshold only.
For second-time Caymanian buyers, stamp duty will be charged at a rate of 3.75% on properties worth $600,000 or less.
The increased property value thresholds have been in place operationally at the Stamp Duty Commissioner’s discretion since September 2023. Under the Stamp Duty Act, the Stamp Duty Commissioner is the Minister for Finance: Hon. Juliana O’Connor-Connolly.
Additionally, the Regulations allow the concessionary rates for Caymanian buyers to now apply to all properties throughout Grand Cayman and the Sister Islands. Previously the stamp duty concessions for Caymanians did not apply to properties in specified locations including the Seven Mile Beach area and some areas along Eastern Avenue and North Church Street.
This amendment follows the Government’s acceptance of a Private Member’s Motion by the Leader of the Opposition in October 2024 which requested the removal of geographical restrictions on stamp duty concessions for Caymanian buyers.
The Regulations do not change the rates of stamp duty for non-Caymanian buyers, which will continue to be levied at 7.5% on all properties, regardless of the value or location.
Premier O’Connor-Connolly said the amendments are “positive for Caymanian people” as they would now be able to receive the stamp duty concessions when buying property throughout the Cayman Islands.
The Regulations may be found online at:
https://www.gov.ky/publication-detail/stamp-duty-(rates-of-duty)-regulations,-2025.-(lg13,-s1)
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