Cayman Islands MOF Proposes Amendments to Stamp Duty for Home Buyers

The Cayman Ministry of Finance Sept. 25 announced proposed amendments to stamp duty for Caymanian home buyers. The proposed amendments include: 1) a stamp duty exemption for undeveloped land valued up to 250,000 Caymanian dollars (US$304,769) for individuals, and 450,000 dollars (US$548,080) for group purchasers; 2) a 3.75 percent stamp duty on the value of undeveloped land between 250,000 and 350,000 dollars (US$426,594) for individuals, and between 450,000 and 550,000 dollars (US$670,293) for groups; 3) a stamp duty exemption on first homes valued up to 550,000 dollars for individuals, and 600,000 dollars (US$731,322) for groups; 4) a 3.75 percent stamp ...