Stamp Duty

The payment of Stamp Duty is a joint liability of all parties to a document unless the Law specifically directs otherwise. Whilst a document may direct a specific party to pay, this is a private obligation which cannot be enforced by a third party (i.e. Cayman Islands Government), and hence all parties should ensure that Stamp Duty requirements are complied with. We reserve the right to recover Stamp Duty from each and any party to a document.

Stamp Duty Payments

The Minister of Finance is the Commissioner of Stamp Duty.  The Minister of Finance has delegated responsibility to the Lands & Survey Department  for the Assessment and Collection of collection of Stamp Duty on all documents relating to immovable property (real estate), in accordance with the Stamp Duty Law (2019 Revision) (PDF, 760 KB, 36 pages).

For information on the Stamp Duty payable and Real Estate documents relating to specific transactions which attract Stamp Duty are as follows; 

  • Administration
  • Assignment of Contracts
  • Assignment of Leases
  • Bills of Sale
  • Charges
  • Contracts for Sale
  • Conveyance
  • Deeds
  • Discharge of Interest
  • Easements
  • Exchanges
  • Leases
  • Mortgages
  • Power of Attorney
  • Probate
  • Purchase Agreements
  • Release of Interest
  • Sale of Land
  • Transfer of Land
  • Withdrawal of Caution

 

Additional Details and Exemptions

Stamp Duty is payable upon execution of the document, and should be presented to the Lands & Survey Department immediately thereafter. Outstanding Stamp Duty on a number of documents will attract interest if not submitted and stamped within 45 days of execution. We will not include any periods where we are holding your documents for assessment within this 45 day period, however it will recommence after we have notified you of an amount of Duty outstanding.

Transactions where the Cayman Islands Civil Service Association Co-operative Credit Union are a party (or any other Credit Union under the Cooperative Societies Law) are exempt from Stamp Duty

 

Fees and Other Documents

Cost and Related Fees
Deeds
AmountCriteriaDescription
CI $50 (US $60)Stamp Duty Law (Revision 2013)-
Easements
AmountDescriptionCriteria
CI $50 (US $60.97) per docuemntWhere there is no consideration regardless of number of beneficial land ownersStamp Duty is payable on any document described as Easement or Right of Way. And on any other document which provides the right to do something (normally pass) on land owned by another person. An easement passes with the benefitting land as opposed to the owner, which distinguishes an Easement from a Licence.
Probate
AmountCriteriaDescription
CI $10 (US $12.19)Every Grant of Probate or Letter of Administration-
CI $1.50 (US $1.83)Every oath or affirmation of an executor, administrator or attesting witness-
CI $0.50 (US $0.61)Every Inventory and Affidavit-
Power of Attorney
AmountCriteriaDescription
CI $6 (US $7.32)Including a letter of Attorney, unless specified below-
As Conveyance on Sale or Transfer
  • Where declared irrevocable
  • In respect for Real Estate, given for consideration (payment)
  • Exercise of Power of Attorney in respect to any Real Estate interest, other than by Will
    		• -
    Release of Interest
    AmountCriteriaDescription
    CI $6 (US $7.32)Unless specified below-
    CI $50 (US $60.98)Release from Charge/Mortgage-
    As Conveyance on Sale or TransferWhere the release provides for another to use, or otherwise gain benefit from Real Estate 
    Charges and Mortgages
    AmountDescriptionCriteria
    CI $50 (US $60.98) per documentVariationWhere a Charge or Mortgage is varied so that additional monies are loaned, the the provisions for an Increases in Mortgages apply. Where the variation reduces the sum secured or varies other terms or conditions (such as the Interest Rate) the document is chargeable as a Deed
    CI $50 (US $60.98) per additional document presentedCollateral Security-
    CI $50 (US $60.98) per release documentRelease of Mortgage 
    Interest Rates
    RateCriteriaCalculation
    10% per annumInterest rate is a chargeable for the first month or part of a month upon the total amount of unpaid Stamp DutyInterest will be incurred from the 46th day after execution (the document being signed by all parties to it). The 'first month' for calculation purposes commences on the 46th day, with the intial 45 day period being excluded from the calculation.
    20% per annumInterest rate is a chargeable after the first month upon the total amount of unpaid Stamp Duty -

    Other Documents

    The following list is not exhaustive but deals with other documents relating to real estate on which duty is payable under the Stamp Duty Law (Revision 2013). Many documents also attract Registration Fees, further details of which can be obtained here.

    • Cash
    • Cheque drawn on Cayman Islands Bank
    • International Money Order or Bank Draft

    With Cheques, Drafts and Orders made payable to the 'Cayman Islands Government'.


    Stamp Duty Documents

    Administration of an Estate
    Deeds
    Amount Criteria
    CI $50 (US $60.98) Including a letter of Attorney, unless specified below
    Power of Attorney
    Amount Criteria
    CI $50 (US $60.98) Including a letter of Attorney, unless specified below
    Probate
    Amount Criteria
    CI $10 (US $12.19) every grant of Probate or Letters of Administration
    CI $1.50 (US $1.83) every oath or affirmation of an executor, administrator or attesting witness
    CI $0.50 (US $0.61) every inventory and affidavit
    Release of Interest
    Amount Criteria
    As Conveyance on Sale or Transfer Where the release provides for another to use, or otherwise gain benefit from Real Estate
    CI $50 (US $60.98) Release from Charge/Mortgage -

    Downloads

    Documents used for Stamp Duty