Living in the Cayman Islands: 15 Pros and Cons (2024)

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Are you considering living in the Cayman Islands? You’re in the right place. I recently returned from a trip the Cayman Islands and got all of the details from locals residents about their experience living in the Cayman Islands.

This group of islands in the Caribbean is known for its stunning beaches, a beautiful “island-life” community, and its nickname as a great tax haven.

Living in the Cayman Islands can be an amazing experience – but it’s important to consider both the pros and cons before making such a major life decision!

The Cayman Islands has been one of my favorite islands to visit in the Caribbean. So, I’ve taken the guesswork out of researching everything you’ll want to know before deciding!

In this blog post, I’ve included 15 pros and cons of living in the Cayman Islands. Finding your future home can be hard, but I’ve included all the details to make it a little easier!

Pros of Living in the Cayman Islands 

1. Safety

Safety in the Cayman Islands is one of its best features. The Cayman Islands have a very low crime rate and are considered to be among the safest in the Caribbean.

The Caribbean paradise is an incredibly safe place for families and individuals alike. But what makes it so secure? Several factors play into safety on these islands. Effective law enforcement and respect for quality policing sit at the top of the list.

The penalty for speeding can cost you up to $40 per mile over the speed limit! For most people, the risk of such a fine is enough to slow down. Additionally, many people are drawn to the Royal Cayman Islands Police Service, an “unarmed service, with armed response capability“.

The answer to, are the Cayman Islands safe, is almost always a resounding yes. However, one should always exercise normal precautions since petty crime, such as pickpocketing, still exists.

2. Public and Private Education + Higher Education Opportunites

Educational opportunities can be a big deciding factor if you’re moving to Cayman Islands with children or plan to have children in the future. Fortunately, you can move knowing you can find quality education for your child on the islands.

Private and public (“government”) schools are available on the islands. Each school system is rated on a scale of Excellent, Good, Satisfactory, or Weak. The majority of schools recently rated as Good or Satisfactory.

Students receive GPAs and take the SATs as we do in the states. Government-funded and private scholarships can be maintained for universities if necessary.

Speaking of colleges, there are eight colleges and universities that attract students from all over the Caribbean region as well as from British territories and even some parts of America!

Higher education opportunities such as the school of medicine and veterinary medicine are well-known and accredited!

In addition to its high-quality schooling options, the literacy rate in 2000 was an impressive 98%.

This means that if you move to one of these beautiful islands with your family, you can rest assured knowing that your children will have access to free public education!

3. Incredible Weather and Beaches

Boy living in the Cayman Islands snorkeling in the water
Cayman Islands have great weather for snorkeling year round.

Living in the Cayman Islands offers a great climate all year round, making it ideal if you’re looking to enjoy outdoor things to do and get a daily dose of sunshine!

The average temperature in this paradise ranges from 74°F to 89°F with January being the coldest month (77°F) and August the hottest (85°F).

This means that you can always count on warm weather perfect for spending time at any of its gorgeous beaches or participating in exciting watersports. Or, take Stingray City Tour to the North Shore!

Furthermore, if you’re planning to move (or live here) during hurricane season, which is from June through November, don’t worry! The infrastructure allows local authorities to take precautions so that you stay safe during tropical storms.

Along with planning, buildings must be constructed according to strict regulations designed to protect against hurricanes and other natural disasters. The Cayman Islands standards were actually taken from Florida Best Practices to withstand as much storm damage as possible!

Lastly, early warning systems have been put into place so people can evacuate if necessary before any major storm hits the islands. All of this ensures that life on these beautiful islands remains calm and enjoyable throughout hurricane season!

With incredible weather during the island’s best times of year you will get plenty of time for beach days! If you’re thinking about moving to the Cayman Islands, the beaches are probably a big reason. The most popular beach in Grand Cayman Islands, Seven Mile Beach, is frequently voted one of the top beaches in the Caribbean.

4. Living on “island time”

Island time” is one of the best parts of Grand Cayman living! With Cayman Islands time and its laid-back attitude and relaxed lifestyle, it’s no wonder that so many people flock here each year.

From lounging on Seven Mile Beach to getting to know the friendly locals, there are countless ways you can enjoy a slower pace of life here!

One of the most enjoyable aspects of life in the Cayman Islands is taking part in its slow lifestyle. The days move at a different pace on the Caribbean islands. It’s part of what makes them such an attractive place for tourists and residents alike.

You can take your time exploring all that these islands have to offer without feeling rushed or stressed out by everyday life.

Plus, with so much natural beauty around you, it’s easy to feel like you’re truly away from everything else going on in the world and just relax into island-time mode! 

5. Ease of travel

A major advantage to living in the Cayman Islands is that it is easy for friends and family to visit from all over the world. The Owen Roberts International Airport is a hub accepting flights from Delta, American, Jet Blue, and even Cayman Airways.

This is especially true for those who live on the east coast of America, as most flights are less than 3 hours long. With a range of direct and one-stop flights available from many cities, your loved ones will have an excuse for a beach vacation in your new home!

6. Culture and diversity

The Cayman Islands is a truly unique destination, boasting an incredibly diverse culture. Residents from over 130 countries make up the island’s workforce and have chosen to call them home. They each bring their own customs and values with them, creating an island melting pot!

From the moment I step onto the island, each driver, shop owner, and bartender greets me with the warmest welcome. So warm that I immediately feel like home. It’s truly a testament to the friendliness of the locals.

Whether they’re chatting with tourists from afar or their daily hellos to neighbors, it’s hard to not feel like the island is one big, beautiful family!

The culture of the Cayman Islands consists primarily of African influences, largely from Jamaica, European influences from Great Britain, and a mix of these two cultures.

This vibrant blend has resulted in a harmonious atmosphere where family and religion remain important aspects of everyday life.

The strong Jamaican influence can be seen throughout local art, music, and cuisine. With such a wide variety of cultures coming together on one small island chain, you are sure to find something new every day when exploring all that the Cayman Islands have to offer!

7. Healthcare 

The Cayman Islands are home to some great healthcare facilities. Grand Cayman, in particular, has a variety of advanced and well-equipped healthcare centers providing excellent care for its residents.

With continual developments being made to its infrastructure and facilities, you can rest assured that your health is a priority here.

Healthcare services available throughout the islands include hospitals, diagnostic testing, labs, pharmacies, and more. These services make it easy for locals to get the medical attention they need when they need it most.

Expats living here will still require health insurance plans – they don’t receive the same treatment as locals. Expats will also not be eligible for the public healthcare options available to local residents.

Fortunately, there are numerous options available. You won’t have a problem finding one that fits your needs.

8. “Tax haven” of the Caribbean

Shrubbery covering a house

The Cayman Islands are known as a tax haven, and here’s why. Not only do they have no filing requirements, but their tax rate is 0%.

This means that personal taxes, income taxes, and property taxes (except an initial purchase tax) are completely eliminated for those living in the Cayman Islands.

It’s an attractive option for many looking for financial freedom and security in retirement. The lack of taxes in the Caymans has allowed many people to build wealth without worrying about paying large sums of money back in taxes each year.

With this benefit, it’s easy to see why many businesses and real estate gurus flock to the state. It’s important to note that gaining residency here does require some high investments into the islands.

9. Infrastructure

Grand Cayman Islands cruise ship port
George Town Grand Cayman from the water

The impressive infrastructure in the Cayman Islands has really set them apart from other Caribbean islands, like St John and St Croix.

From grocery stores to banks, and hospitals to phone and internet access – you will have access to all the modern infrastructure and technology you need.

Grocery stores offer fresh and high-quality produce, meats, fish, fruits, and vegetables, while also carrying many of the same brands as you would find in the US.

Banking on the island is state-of-the-art with outstanding service and tax-friendly benefits for businesses.

Phone and internet access in the Cayman Islands is second to none. With ultra-modern telecommunications services, residents and visitors alike can enjoy high-speed internet and clear phone communication.

But most of all, when spending time in the Caymans, particularly in Grand Cayman, I’m most impressed with the smooth, well-maintained roads.

Most islands have a hard time maintaining roads after frequent tropical storms, hurricanes, and low infrastructure budgets. This is definitely not the case with Grand Cayman!

Not only are the roads great, but you can get just about anything you need. Camana Bay in Grand Cayman is known as the place that has it all! Whether you need shops, restaurants, furniture, or more, you’ll find it in Camana Bay.

CONS of living in the Cayman Islands

10. Work permits

To work in the Cayman Islands, you will have to first get a work permit unless you qualify for an exemption. Applications for the work permit can be filed online at the JobsCayman website.

While the availability of jobs is a pro of living in Grand Cayman, there’s a little roadblock that makes it more complicated. Regulations require that Caymanian locals are required to be offered jobs first.

But, if no suitable candidates are found, employers can then move to hiring an ex-pat.

The best way to find a job in the Cayman Islands as an ex-pat is to register with an employment agency. From there, the agency will help you navigate the overseas application waters.

11. Cost of living

The cost of living on Grand Cayman is estimated to be between 3500-8000 KYD (US $4200-9600) per month for a family of four. This is equivalent to NYC prices, so if you’re used to living in a more affordable area this could come as quite a shock!

Additionally, goods imported from abroad will also have high sales tax rates applied which makes them more expensive than what you may find back home. So, while you may be saving on other taxes, remember, nothing comes free!

Furthermore, despite no income taxes being applied there are other hidden costs associated with living here. This can include expenses such as licensing fees for vehicles or businesses and import duties for items you ship from overseas.

There are even real-estate purchase requirements for citizenship.

All these factors regarding the Cayman Islands cost of living make it difficult for those looking to move here without substantial savings already built up or an established source of income before making the jump into life in paradise.

Related reading; the cost of living in Aruba or St Thomas will be less than the Cayman Islands.

12. Public transportation

One of the biggest drawbacks to living in the Cayman Islands is the lack of public transportation. If you’re anything like me, public transit is super important.

Buses are infrequent and unreliable, while taxi services are expensive. Uber and Lyft (ride-sharing services) are also banned from the island so a car is necessary for anyone living here without access to other forms of transportation.

For those living on the island without a car, it can be difficult to take part in activities or visit the restaurants and attractions, even if they’re nearby.

Car rentals are available but tend to be expensive due to high demand – so having your own vehicle is often considered an essential for living on the islands.

Without a car, living in Cayman Islands can be extremely limiting – so if you’re planning to move here, having access to your own vehicle is essential! After all, you’ll want all the freedom you can get to explore your new home!

13. Speeding fines! 

The standard speeding fine in the Cayman Islands is $20/mile over the speed limit. As I just mentioned, you’ll need a car, so plan ahead and slow down!

If you’re driving in a school zone during the drop off and pick up times, the speed limit in the marked areas is 15 mph. During these times, penalty increases to $40 per mile over the speed limit.

If the total fine exceeds $500 dollars, you will have to attend court and risk having your license suspended.

While the island is very safe, that safety comes with important laws and high ticket costs!

14. Hurricane season

Beautiful sidewalk and shrubbery leading to boats in the marina
Even an island as beautiful at the Caymans has its downsides – hurricane season is one of them!

The Cayman Islands are a tropical paradise, but living in this beautiful destination comes with some risks.

One of the most talked about hazards to consider is hurricanes, which can affect the islands during their hurricane season. Hurricane season officially goes from June through November each year.

Anyone considering relocating to the Cayman Islands needs to be aware of the potential dangers that come with living in a hurricane-prone area. On average, the Cayman Islands get about one hurricane a year!

So, be prepared to take all necessary precautions when it comes to preparing for these unpredictable storms.

It’s important to have an emergency plan such as knowing where your nearest shelter is located, having supplies ready if you need them.

This should include food, water, first aid kits, etc. And, making sure your home is secure against high winds and flooding by installing storm shutters or other protective measures.

Additionally, people should stay informed about weather conditions so they know what areas may be affected by a storm before it arrives. Cayman Islands government officials will let you know if evacuation is necesssary. They are, afterall, pros at this by now!

A note along with hurricane season means storm insurance can be an additional high cost to your living expenses.

15. Tourist season

The Cayman Islands are a popular tourist destination. When tourist season hits, it can have an impact on locals living here!

From December-April, cruise ships flock to the ports and more planes fly into the Owen Roberts International Airport. The island becomes more crowded, making reservations for hotels, restaurants, and activities harder to get.

For local businesses, tourist season is a booming and necessary time for the economy. But that doesn’t mean it can’t come with issues for locals.

Busier roads, beaches, and accommodations along with food and supplies can have an impact on your life in Cayman Islands. On the bright side, Cayman is known for being a laid-back, secluded vacation spot – unlike other islands like the Bahamas and Aruba, known for their night-long parties and crowds.

About the Cayman Islands

The Cayman Islands are a small archipelago located in the western Caribbean Sea, west of Jamaica and the Dominican Republic. It’s comprised of three islands: Grand Cayman, Cayman Brac, and Little Cayman.

These islands are known for their stunning natural beauty, with white sand beaches and crystal clear waters, as well as its vibrant culture and friendly people.

In addition to being one of the most popular tourist destinations in the world, living in the Cayman Islands has many benefits such as having some of the highest living standards in the Caribbean.

Grand Cayman is home to George Town which is a bustling city filled with shops, restaurants and nightlife attractions.

It also houses Seven Mile Beach which consistently ranks among one of the top beaches in the Caribbean due to its pristine white sands and turquoise waters.

The other two islands offer different experiences; Little Cayman is great for snorkeling or diving trips. It’s surrounded by coral reefs teeming with marine life. Visitors can explore caves on both Cayman Brac Island and West End Point on Grand Cayman. Each provide spectacular views and experiences.

All three islands have something unique to offer travelers and locals looking for an unforgettable experience living amongst paradise!

FAQ about Moving to the Cayman Islands

Now you now all the Living in Cayman Islands Pros and Cons. But, moving to a Caribbean island comes with a lot of questions! Here are a few answers to the most frequently asked.

How much money do you need to live in the Cayman Islands?

To live reasonably in the Cayman Islands, you would need about 3500 KYD (US $4200) monthly as a single person or roughly 7500-8000 KYD (US $9000-9600) monthly for a family of four.

Can a US citizen live in Cayman Islands?

Yes, however, premenant residency can take up to nine years and comes with a list of requirements. The list varies from work visas to a hefty minimum real estate purchase.

Visitors may be granted permission to stay in the Cayman Islands for a period of up to six months.

This period may be extended for further periods not exceeding six months upon application to the Chief Immigration Officer.

Can I just move to the Cayman Islands?

Technically, no. While you can move to the Cayman Islands for some periods at a time, there is a heavy list of requirements to gain residency.

And, that residency needs to be renewed at different points in your stay. The list includes real estate holdings, a minimum income, and proof of health insurance.

How long can a US citizen stay in Grand Cayman?

US citizens can stay in the Cayman Islands for a period of up to six months, with permission.

This period may be extended for further periods not exceeding six months upon application to the Chief Immigration Officer.

After that, several factors will allow you to stay in Grand Cayman or force you to leave.

Can a US citizen buy a house in the Cayman Islands?

Yes, US citizens can buy a house in the Cayman Islands. Purchasing real estate is actually encouraged, and required if you hope to maintain a residency here.

There are no restrictions on foreign ownership of a single property.

Additionally, there is no property tax, no income tax, no payroll tax, no withholding tax, and no capital gains tax in the Cayman Islands.

Can a US citizen retire in the Cayman Islands?

US citizens can retire in the Cayman Islands provided they have a sufficient amount of money to buy a house and support themselves as they age.

There are requirements to keep in mind before retiring to Cayman.

Summary of Pros and Cons of Living in the Cayman Islands

Overall, living in the Cayman Islands can be a great experience with its incredible weather and diverse culture. It’s hard to turn down being steps away from the most beautiful beaches in the world!

However, there are some drawbacks to consider such as higher cost of living and work permits that need to be taken into account.

Additionally, hurricane season is something all residents should prepare for by having an emergency plan ready and taking necessary precautions against high winds or flooding.

Tourist season also brings increased competition for resources which may lead to overcrowding on public beaches or roads during peak times.

Ultimately it is up to each individual who chooses to live here whether these risks outweigh the many benefits living in this tropical paradise has to offer!

So, is living in the Cayman Islands for you? I know it’s for me, that’s for sure!

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