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Retiring to Cayman
Cayman is not a cheap place to retire, and our government doesn't go out of its way to welcome overseas retirees. Indeed, it puts obstacles in their way, mainly financial ones. I'm retired, and we live modestly on my wife's salary; but because I used to work here I don't fall under the usual rules. We in our household are too lazy to operate on a formal financial budget, but our annual expenses are in the region of US$50,000, not counting vacations. If Cayman ever gets too expensive for us we will probably have to move to Latin America somewhere.
There is no Income Tax or Property Tax, yet. Instead, there is Import Duty on everything, so retail prices are quite a bit higher than in the US, Canada or Europe.
I have a blog (www.barlowscayman.blogspot.com ), registered on this site, that contains several postings on the topic of retirement in Cayman. Readers should check the Archives for relevant titles. Most of my postings are written for local residents, and are a whole lot more candid than most reports published about these Islands and the laws and unwritten rules we live by.
- Regular Poster
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