Bijou Estate, Cayman Islands
£129000
Bijou Estate, Grand Cayman
The resort development at Bijou Estate comprises almost 40 individual plots.
Advantages to Investing in the Cayman Islands
- Residents benefit from absolutely no taxes, including no income tax, no capital gains tax and no inheritance tax.
- The Cayman Islands are the fifth largest offshore financial centre on the planet.
- The housing market enjoys an end user who is established and wealthy, such as high net worth employees of the world's best financial institutions such as Merrill Lynch and UBS.
- The Cayman Islands government grants and guarantees all title to property, therefore there are no legal restrictions to foreign buyers owning property.
- The islands are an official territory of Britain, and enjoy a stable and peaceful government which operates under British laws.
- Tourism is one of the largest industries on the islands, contributing to 30-40% of GDP output. The Cayman Islands are considered one of the world's best luxury destinations, with white sand beaches, scuba diving opportunities, duty-free shopping, and designer golf courses which attract 1.8 million sophisticated visitors annually.
- The government is committed to investing in all sectors of the economy on a long-term basis.
- At the moment, over 55 flights travel every week to Grand Cayman, with 28 coming from Miami, USA and others flying from Heathrow in London and Toronto, Canada.
- An expansion of the airport is planned, which will triple its capacity and make the Cayman Islands even more accessible from North America and Europe.
Contemporary Freehold Villa Plots
Each of the ideally located plots of land in Malportas Pond is provided with infrastructure already in place on site. Your villa plot will have a finished asphalt road and access to the island's power supply already built in. Infrastructure is typically completed within one to three years from the date that you purchase your villa plot on Bijou Estate
Investors are granted a full title after all payment terms are finalized and fulfilled, giving them complete freehold ownership. The Land Registry Department of The Cayman Islands Government protects and guarantees all land titles.
House in a Box
Investors have a choice of three villa designs, which are determined by the master plan of each site. When you purchase your plot, you will receive a full suite of bespoke architectural drawings. All you have to do is choose your dream home, and the Developer will then submit the documentation and architectural designs necessary to obtain the licenses for construction. The tender process and the construction of the property will be managed by the Developer. To learn more about our "House in a Box" system, please refer to our brochure or contact a member of our team for more information.
Location: Grand Cayman, Northside
Purchase Price: £129,000
Payment Terms:
Reservation: £2,000.00 Payable upon reservation
Contract: £28,000.00 Contract with in 7 Days
Terms: 5 year interest free payment plan: £5,000.00 Per quarter over 5 years
How Does the Purchasing Process Work?
1. The buyer signs and completes the Reservation Agreement, and returns it via fax or email. Copies of the buyer's passport and a utility bill for each named purchaser must be included.
2. The buyer then pays for reservation fee, which can be done using a Credit Card or a Bank Transfer.
3. Upon receiving payment, the developer then takes the plot off the market.
4. The buyer now sends the original copy of the Reservation Agreement, fully signed and completed, to the developer by expedited registered post.
5. When the developer receives the Reservation Agreement they will issue a draft copy of the Purchase and Sale Agreement by email, and allow time for the buyer to arrange an optional consultation with a legal representative.
6. The developer then prepares two signed copies of the Purchase and Sale Agreement, and sends them via courier to the buyer.
7. One of the completed Purchase and Sale Agreements is to be retained by the buyer, and the other is to be returned to the developer.
8. Then the developer will send the first deposit. Proof of transfer is sent to the developer within seven days of signing the reservation form.
9. The developer then expedites for the signed Purchase and Sale Agreement to be posted back via registered post.
10. Once 100% of the purchase costs have been paid, and the infrastructure is completed, the developer applies for the Title Deeds to be issued.
Increasing Value of Land
By completing the infrastructure on the plot and constructing a "House in a Box", the potential sales value of the plot is greatly increased.
If you are looking for a stress-free and simple solution to building your dream home in the Cayman Islands, this turn-key architectural option is perfect. It is a unique selling point, which gives the plots a competitive advantage in the current property market.
At the moment, there is a growing demand for high quality modern-style housing in the Cayman Islands, and population growth is anticipated. The market is expanding, both locally and internationally, for turnkey land opportunities and fully constructed properties.
Closing Costs
- Title Deeds: Investors must pay a one-off payment of Stamp Duty, which currently is equal to 6% of the value of the land, to the Cayman Land and Surveys Department before the Title Deeds are transferred to the purchaser. Other registration fees that will need to be paid total £695.00.
- Licensing Fees for the "House in a Box": It is advised that buyers avoid applying for licences until they are ready to initiate the building process or sell their plot as a licensed turnkey product, as licences are only valid for 12 months. To learn more about licensing fees and how they work feel free to contact a member of our team and they will be happy to answer your questions.
Take Control of Your Investment with a SIPP
If you desire the freedom to invest your own pension fund where you choose, you might want to learn more about Self Invested Personal Pensions, or SIPPS. These types of pensions are designed for those who want to make their own investment decisions.
You will have the choice of a wide range of assets, including real estate. All of the developer's land products at Dolphin Estate have been SIPP approved and are completely compatible with this type of pension investment. Investors have the option to purchase a plot using their SIPP, rather than with savings, with approval from a FSA certified Independent Financial Advisor.
If you are interested in learning more about how you can invest in Dolphin Estates using your Self Invested Personal Pension, please contact us for more information. We offer free consultations with a regulated Independent Financial Advisor.
Transferability
Investors have the option to sell their contract for their villa plot whenever they so choose, as long as it is prior to the title deeds being issued. In order to reassign the contract the developer will charge a £395.00 fee.
Upon request, buyers can receive a full due diligence pack for the developer and all project sites.
