There is no personal income tax.
No.
No.
No.
No.
No.
There are no social contributions. However, participation in authorised pension funds and health insurance is compulsory.
Contributions are paid by employers with partial reimbursement from employees.
Employees must contribute at least 5% of their remuneration to the pension insurance scheme.
Minimum health insurance contributions are financed equally by the employer and the employee.
Stamp duty is payable on real estate transactions at a rate of 7,5%. The tax is also payable on transactions involving shares in real estate companies.
Stamp duty is payable on mortgages and some other transactions at a rate of 1% to 1,5%.
The Cayman Islands have entered into 1 Double Tax Treaties (DTC) and 19 Tax Information Exchange Agreement (TIEA) with the following jurisdictions:
1 DTC: UK
19 TIEA: Australia, Canada, Denmark, Faeroe Islands, Finland, France, Germany, Greece, Greenland, Iceland, Ireland, Mexico, Netherlands, New Zealand, Norway, South Africa, Sweden, USA.
BEPS MLI: The Cayman Islands has not yet signed the Multilateral Convention to Implement Tax Treaty-Related Measures to Prevent Base Erosion and Profit Shifting (MLI).
CRS MCAA: On October 19, 2014, the Cayman Islands signed the Multilateral Competent Authority Agreement on Automatic Exchange of Financial Account Information (CRS MCAA), under which the Cayman Islands receives information from its financial institutions and automatically exchanges this information with other jurisdictions on an annual basis. The automatic exchange began in September 2017.
CbC MCAA: On June 21, 2017, the Cayman Islands signed the Multilateral Competent Authority Agreement on the Exchange of Country-by-Country Reports (CbC MCAA), under which Cayman Islands banks collect and transmit foreign resident account information to their tax authorities, who then automatically exchange this information with the tax authorities of other participating countries.
CARF-MCAA: On November 26, 2024, the Cayman Islands signed the Multilateral Competent Authority Agreement on Automatic Exchange of Information pursuant to the Crypto-Asset Reporting Framework (CARF-MCAA), which provides for the submission of tax information on crypto-asset transactions on a standardized basis for the purpose of automatically exchanging such information.
Generally, there are no restrictions on foreign exchange transactions.
