Transfer and Sale of Land

Stamp Duty is payable on any document described as:

  • Conveyance of Property
  • Transfer of Land
  • Sale of Land

Or any other document which has the effect of legally passing the freehold or absolute title in land, property or condominium from one person to another.

Stamp Duty Assessment

Transfers of Land are subject to a Stamp Duty Assessment by the Valuation & Estates Office. The purpose of the Assessment is to establish the amount of ad-valorem Stamp Duty payable. Duty is payable on the Consideration (purchase price) or Market Value, whichever is higher.

If the Valuation & Estates Office assess that the Market Value is in excess of the Consideration then a Stamp Duty Assessment will be issued, outlining the Duty payable. The Assessment provides a window of opportunity for review, as there will on occasion be information affecting the value of which the Valuation & Estates Office is unaware. After that period has elapsed, the Stamp Duty will be assessed based on the Market Value established by the Valuation & Estates Office.

In the event that the parties to the document continue to disagree with the Assessment issued, they may apply for the Stamp Duty to be adjudicated. By application to the Minister of Finance (and payment of prescribed fees), the assessment of Stamp Duty will be adjudicated as a binding decision (with limited right of appeal thereafter, upon payment).


Transfer Rates and Fees

Schedule of Stamp Duty Rates
First Time Caymanian Purchasers (First Property Purchase effective September 22, 2023)
RateDocument TypeCriteria
0%Transfer of LandIn cases where property is transferred to a single person who is Caymanian:
  • For land with building having a value of CI$550,000 or less.
  • For land without a building having a value that exceeds CI$250,000 but does not exceed $200,000.
In cases where property is transferred to two (2) or not more than ten (10) persons who are Caymanian:
  • For land with building having a value of CI$600,000 or less.
  • For land without a building having a value of CI$450,000 or less.
3.75% of consideration or Market Value whichever is HigherTransfer of LandIn cases where property is transferred to a single person who is Caymanian:
  • For land with building having a value that exceeds CI$550,00 but does not exceed CI$650,000. This rate is applied to the difference above CI$550,000 only.
  • For land without a building having a value that exceeds CI$250,000 but does not exceed CI$350,000. This rate is applied to the difference above CI$250,000 only.
    • In cases where property is transferred to two (2) or not more than ten (10) persons who are Caymanian:
  • For land with building having a value that exceeds CI$600,000 but does not exceed $700,000. This rate is applied to the difference above CI$600,000 only.
  • For land without a building having a value that exceeds CI$450,00,0 but does not exceed $550,000. This rate is applied to the difference above CI$450,000 only.
7.5% of consideration or Market Value whichever is HigherTransfer of LandIn cases where property is transferred to a single person who is Caymanian:
  • For land with building having a value that exceeds $500,000.
  • For land without a building having a value that exceeds CI$200,000.
    • In cases where property is transferred to two (2) or not more than ten (10) persons who are Caymanian:
  • For land with building having a value that exceeds CI$600,000
  • For land without a building having a value that exceeds CI$350,000
  • Applies to all areas except those specified within the 0% rate above.
Second Time Caymanian Purchasers (Second Property Purchase effective September 22, 2023)
RateCriteriaDescription
3.75% of Total consideration of Market Value, whichever is higher of the entire linked property transactionTransfer of LandIn cases where property is transferred to a single person who is Caymanian:
  • For land with building having a value up to CI$600,00
  • For land without a building having a value up to CI$300,000
In cases where property is transferred to two (2) or not more than ten (10) persons who are Caymanian:
  • For land with building having a value that does not exceed $700,000
  • For land without a building having a value that does not exceeds CI$550,000
7.5% of Total consideration of Market Value, whichever is higher of the entire linked property transactionTransfer of LandIn cases where the current market value/purchase price of the property exceeds the above limits, the individual (s) do/does not qualify for the concession, and 7.5% of the market value or consideration, whichever is higher, is payable in stamp duty.
Conveyance or Transfer - Linked Property Transaction
RateCriteriaDescription
3% of Total consideration of Market Value
whichever is higher of the entire linked property transaction		Where the total value of the linked property is CI$300,000 or less.All areas within the Cayman Islands, including Cayman Brac and Little Cayman
7.5% of Total consideration of Market Value
whichever is higher of the entire linked property transaction		Where the total value of the linked property is more than CI$300,000All areas within the Cayman Islands, including Cayman Brac and Little Cayman.
3.75% of Total consideration of Market Value
whichever is higher of the entire linked property transaction		Where the total value of the linked property is more than CI$300,000 and there is an agreement to convey or transfer the bare land in the first part of a linked property transactionAll areas within the Cayman Islands, including Cayman Brac and Little Cayman. Payable within 45 days of the date the agreement is first signed by the buyer.
  
Standard Duty Rates
DocumentStamp Duty on AssignmentStamp Duty on Transfer of Land
The assignment of a qualifying purchase agreement
on or before 30th June 2021 with no premium.		CI$2000% Stamp Duty paid on Qualifying Purchase Agreement shall be applied to conveyance.
The assignment of a qualifying purchase agreement on or before 30th June 2021 with a premium.*7.5% of Premium0% Stamp Duty paid on Qualifying Purchase Agreement shall be applied to the conveyance.
The assignment of a qualifying purchase agreement after 30th June 2021 with no premium.CI$200*7.5% of Total consideration or Market Value, whichever is higher, of the conveyance.
The assignment of a qualifying purchase agreement after 30th June 2021 with a premium.CI$200*7.5% of Total consideration or Market Value, whichever is higher, of the conveyance.
Rates for Natural Love & Affection 
AmountCriteria
RegistrationCI$50
Notional Transfer - Mother to DaughterCI$50 Stamp Duty
Notional Transfer - Uncle to MotherCI$50 Stamp Duty
For a transaction to be effected by Natural Love and Affection,
no consideration (financial or otherwise) must pass. Fixed Stamp Duty of CI $50 will apply.
  • Property may pass for natural love and affection between:
  • Husband and Wife
  • Father or Mother to Daughter or Son
  • Brother and Sister, providing that they have the same parent
  • Grandfather or Grandmother, and Grandson or Granddaughter
    • Historic Stamp Duty Rates 
    DateCriteriaRate
    12 July 1973 7.5%
    4 April 1995Consideration less than CI $250,0007.5%
    4 April 1995Consideration of CI $250,000 or more7.5%
    9 June 1997Blocks OPY, 5C (parcels with water frontage, including any parcel subsequently derived from a parcel with water frontage), 5D, 10A, 10E, 11B, 11C, 11D, 12C, 12D, 12E, 13B, 13C, 13D (parcels with frontage to Eastern Avenue), 13E, 13EH (parcels with frontage to West Bay Road, Eastern Avenue and North Church Street), 14BG, 14BH, 14BJ, 14CJ, 17A, 18A9%
    9 June 1997All areas except those specified above7.5%
    14 November 2001 5%
    1 July 2006Blocks OPY, 5C (parcels with water frontage, including any parcel subsequently derived from a parcel with water frontage), 5D, 10A, 10E, 11B, 11C, 11D, 12C (parcels with water frontage, including any parcel subsequently derived from a parcel with water frontage), 12D, 12E, 13B, 13C, 13D (parcels with frontage to Eastern Avenue), 13E, 13EH (parcels with frontage to West Bay Road, Eastern Avenue and North Church Street), 14BG, 14BH, 14BJ, 14CJ, 17A, 18A7.5%
    1 July 2006All areas except those specified above, where the purchaser is not Caymanian6%
    1 July 2006All areas except those specified above, where the purchaser is Caymanian4%
    1 April 2009Blocks OPY, 5C (parcels with water frontage, including any parcel subsequently derived from a parcel with water frontage), 5D, 10A, 10E, 11B, 11C, 11D, 12C (parcels with water frontage, including any parcel subsequently derived from a parcel with water frontage), 12D, 12E, 13B, 13C, 13D (parcels with frontage to Eastern Avenue), 13E, 13EH (parcels with frontage to West Bay Road, Eastern Avenue and North Church Street), 14BG, 14BH, 14BJ, 14CJ, 17A, 18A5%
    1 April 2009All areas except those specified above, where the purchaser is not Caymanian5%
    1 April 2009All areas except those specified above, where the purchaser is Caymanian3%
    1 October 2009Blocks OPY, 5C (parcels with water frontage, including any parcel subsequently derived from a parcel with water frontage), 5D, 10A, 10E, 11B, 11C, 11D, 12C (parcels with water frontage, including any parcel subsequently derived from a parcel with water frontage), 12D, 12E, 13B, 13C, 13D (parcels with frontage to Eastern Avenue), 13E, 13EH (parcels with frontage to West Bay Road, Eastern Avenue and North Church Street), 14BG, 14BH, 14BJ, 14CJ, 17A, 18A7.5%
    1 October 2009All areas except those specified above, where the purchaser is not Caymanian6%
    1 October 2009All areas except those specified above, where the purchaser is Caymanian4%
    11 December 2012All areas except the following Blocks: OPY, 5C (parcels with water frontage, including any parcel subsequently derived from a parcel with water frontage), 5D, 10A, 10E, 11B, 11C, 11D, 12C (parcels with water frontage, including any parcel subsequently derived from a parcel with water frontage), 12D, 12E, 13B, 13C, 13D (parcels with frontage to Eastern Avenue), 13E, 13EH (parcels with frontage to West Bay Road, Eastern Avenue and North Church Street), 14BG, 14BH, 14BJ, 14CJ, 17A, 18A7.5%

    Submission Requirements

    In submitting a document for Stamp Duty you should enclose the following;

    • Payment, based on the anticipated rate of Duty and the consideration paid (if applicable). If additional Duty is required you will be advised accordingly. Your election will be deemed based on the payment presented, unless otherwise stated.
    • A chattels list, if a deduction for chattels is being made. Further guidance on the completion of a chattels list can be found here.
    • Any waiver letter given from the Minister of Finance in relation to Stamp Duty.
    • The Purchase Agreement (or receipt of Duty payment) if the Transfer document relates to an Agreement on which Stamp Duty was previously paid.
    • Additional information relating to the purchase, in particular where you are aware that the consideration may deviate significantly from a Valuation on the transaction date. Such information may include;
      • The date when the purchase price was agreed
      • Any damage to the property
      • Details of any other property which has been acquired as part of a larger transactio

    If further information is required in order to undertake the Stamp Duty Assessment you will be advised accordingly.