Buying Real Estate in Cayman Islands Made Easier by Rick Burgos

Cayman Islands Real Estate Agent – Rick Burgos

www.rickscaymanproperties.com (345) 623-4411

www.rickscaymanproperties.com(345) 623-4411

About Rick

Born in Belize, but living in the Cayman Islands for the last 44 years!

I have had the distinct pleasure of experiencing and contributing to the most successful development era of these beautiful Islands. As a result, I am very familiar with the market, the residents and the business processes.

I was transferred to Grand Cayman in 1968 by Barclays Bank, where I gained a varied and well rounded financial and managerial experience as a banker working in every department of the Bank.

After 25 years as a banker, I ventured into Real Estate in 1992 and have been a solid producer with Coldwell Banker, winning annual international awards to the Diamond Society, the President's Circle and President Elite.

I contribute to the social aspect of the Cayman Islands as an active Rotarian, I am a Past President of the Rotary Club of Grand Cayman, Past Treasurer of CIREBA and a Notary Public for many years.

http://www.rickscaymanproperties.com/

About Rick

I am currently married to the former Lillian Fonseca, who is also from Belize. We live in the serene Savannah area of Grand Cayman. I have two children, Rafael and Ileana, who are currently living abroad gaining valuable work experience after graduation from college.

In my spare time I love to spend time with my family and read. Tennis is my main hobby along with dominoes, dancing, traveling and more recently, gardening.



Buy Real Estate in The Cayman Islands

Thinking of:

1. Buying in the Cayman Islands for the first time or

2. Upgrading currently owned property or3. Any other investment opportunity

Things you should know:

There are no restrictions on foreign ownership and in fact foreign ownership is what has made Cayman grow the way it has over the past 40 years. The land title system (Torrens) is the simplest world wide and the procedure for purchasing property is based on American and Canadian precedent but with half the red tape. Ownership can be verified by means of a simple check at the Land Registry and title is guaranteed by the Government, eliminating the need for title insurance. Title can be taken in a variety of ways including a corporation which does not reveal beneficial ownership. There is a government Stamp Duty fee on registration of title which is paid by the purchaser.




Things you should know:

For foreign owners a one-time fee of either 6% or 7.5% is paid on the higher of the price or fair market value of the property, but NOT on furnishings (chattels) purchased with the property. Stamp duty along West Bay Road, on the water in the Seven Mile Beach corridor, and in the downtown George Town area is charged at 7.5%. In all other areas the rate is 6%.

Mortgage financing is available from some local banks generally between 50 % up to about 80% based on the three "C"s of lending CASH, CREDIT, COLLATRAL. A minimum of two years tax returns is usually required to verify income and employment information. Interest rates vary and are usually 1 to 3% above New York Prime.




I can assist you every step of the way to making an informed real estate decision:

Advising on choosing the right property Making an offer Arranging financing Placing your currently owned property on the

market for sale Assisting you in pricing your property Marketing your property effectively Clinching a deal As a member of CIREBA, I have access to all listings

- no need to call every listing agent individually. Your time is valuable ? let me do the leg work for

you! Rick is your advisor and problem solver.



Contact RICKS Today!

Address: 1364 West Bay Rd,George Town, Cayman Islands

Cell: (345) 916-1756

Phone: (345) 623-4411

Email: [email protected]

Website: www.rickscaymanproperties.com

mailto:[email protected]


Documents

Buying Real Estate in Cayman Islands Made Easier by Rick Burgos