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Last updated on April 3rd, 2023 at 03:02 am
The Cayman Islands are known for their tax haven status, but there are reasons to live there other than starting a business or investing in hedge funds. Let’s take a look at a few pros and cons of living in the Cayman Islands.
The Cayman Islands is a great place to live for anyone looking to embrace the island lifestyle. It’s relatively easy to immigrate to the Cayman Islands, although it involves a lot of paperwork and will cost you a pretty penny.
If, after reading this post, you decide you want to move there, speak to a Cayman Islands law firm to help you with all that form-filling.
But first, to help you make that all-important decision, we’re going to list the pros and cons of living in the Cayman Islands. Keep reading to learn more.
What Are the Pros of Living in the Cayman Islands?
We’re going to start with the pros–all the best reasons for living in the Cayman Islands, before we discuss the reasons you might not want to move there.
Beaches and nature
The first thing you notice when you get to the Cayman Islands are the stunning beaches. These beaches are known to be some of the best in the world, with their white sands and crystal-clear water.
Each district has its own beaches, and beach-going is a common recreational activity for the locals. If beaches aren’t your thing, you can always explore the islands’ natural wonders by visiting the Crystal Caves, the Turtle Centre, or the Queen Elizabeth II Botanic Park.
Speaking of nature, another great reason to live in the Cayman Islands is the lack of pollution. If you live in an industrialised western city, you’re breathing in car fumes and the water is polluted with plastic.
In the Cayman Islands the government is strict on cleanliness, so littering and plastic pollution aren’t an issue. The island is also surrounded by trees, and there aren’t many vehicles or much heavy industry polluting the air.
If you want to live somewhere clean, with great air quality and beautiful water, living in the Cayman Islands could be for you.
Sense of community
People in the Caymans are known for being very friendly and open to meeting people from other countries. Also, neighbors look out for each other, and families often come together for social events.
On top of all that, the Cayman Islands has the lowest crime rate in all of the Caribbean, if not the world. This is in large part thanks to the strong sense of community where everyone knows each other and looks out for each other.
These islands are definitely a great place to live if you’re looking to be part of a friendly and safe community.
The health service isn’t quite the same as Britain’s NHS or the Canadian healthcare system, but it’s definitely a close second.
If you can’t afford to pay for your hospital bills in the Cayman Islands, they aren’t allowed to turn you away. All you have to do is sign a promissory note that is sent to the government promising that you’ll pay your bill sometime in the future.
On top of that, there are approximately 4.5 doctors for every 1,000 residents in the Caymans. So, there’s no need to worry about availability of healthcare if you choose to move there.
Standard of living and education
If you’re immigrating to the Cayman Islands with your family, you couldn’t be moving them to a better place.
The islands are known for having one of the highest standards of living in the world due to their modern infrastructure, well-appointed grocery stores, reliable utilities, and high-quality residential properties.
The Caymans also have excellent schools that offer both British and American curriculums. Students regularly exceed international levels on standardized tests and gain acceptance to top schools across the US, UK, and Canada.
What Are the Cons of Living in the Cayman Islands?
To give you a more balanced view of things, it’s now time for the cons. Many of these cons are related to the pros because with every upside there’s often a downside…
Of course, the beautiful beaches and crystal-clear water are obviously great “pros,” but the flat terrain means the scenery is very one dimensional.
The main outdoor activities for those living in the Cayman Islands are water sports. This isn’t a problem if you’re an avid water sports fan, but those who want to do other outdoor activities might find it very limiting.
Anyone who has lived in a small town or village knows that living in a small community breeds gossip. Friendly neighbors and a sense of community was one of our pros, but everything comes with a cost and, in this case, it’s gossip.
We discussed the standard of living in the ‘pros’ section, but one of the reasons the standards are so good is because of how expensive everything is.
Everything you buy in the Cayman Islands has to be imported, because there’s little to no local production, making many goods incredibly expensive. Also, residents are required to send their children to private schools which can take a big bite out of your budget. And, let’s not forget that property in the Caymans isn’t cheap either.
In order to live on the islands, having a good job is crucial, or you could find yourself out of money, and fast.
Having your own car is essential if you move to the Cayman Islands. The public transportation system is limited to buses, expensive taxis, and hitchhiking, which is a common practice on the islands.
However, cars are surprisingly affordable and can be shipped from different countries around the world. If you don’t drive, however, the Cayman Islands might not be the place for you.
Are There Any Other Pros and Cons to Take into Account?
In this post, we’ve listed a number of pros and cons of living in the Cayman Islands to help you decide whether it’s the right move for you.
The pros and cons listed here are the most obvious things you’ll notice when you move to th islands, but there are always more to be found. If you’re still unsure about whether living in the Cayman Islands is right for you, some more in-depth research may be in order.
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