Cayman Islands tax system: taxation of Cayman Islands companies and individuals. Tax treaties of the Cayman Islands.
Basic taxes (briefly)
| Personal tax | No |
|---|---|
| Corporate tax (in detail) | There is no corporation tax in Cayman. |
| Capital gains tax. Details | There is no capital gains tax in Cayman. |
| VAT. Details | There is no VAT in Cayman. |
| Other taxes | No |
| Government fee | |
| Stamp duty | 7.5% (transfer of real property) |
International tax agreement
| United Kingdom | |
| Australia, Canada, Denmark, Faroe Islands, Finland, France, Germany, Greece, Greenland, Iceland, Ireland, Netherlands, Netherlands Antilles, New Zealand, Norway, South Africa, Sweden, United States, Mexico |
Taxation of individuals
There is no personal income tax.
Income tax
No.
Capital gains tax
No.
CFC regulations
No.
Withholding tax on income
No.
VAT
No.
Social contributions
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
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%.
International tax treaties
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.
Foreign exchange controls
Generally, there are no restrictions on foreign exchange transactions.
Taxes of Caymans
| Min. rate for corporate tax | No |
|---|---|
| Capital gains tax | No |
| VAT | No |
| Withholding tax | No |
| Exchange control | No |