There are no personal tax requirements in Cayman Islands. There are also no withholding taxes imposed on consumption in Cayman Islands either.
As far as residency is concerned, the Cayman Tax Information Authority has the liberty to grant tax residency certificates to all the individuals who are declared as residents of Cayman Islands. This is mostly relevant from the perspective of citizens of the European Union (EU). This is primarily because of compliance related reasons with respect to reporting of savings income information law.
Generally speaking, there are numerous different personal tax rates in the Cayman Islands. However, there are stamp taxes and duties that are paid on various rates on transfer of land/property as well as execution of certain documents. In the same manner, import duty is also paid on import of several different goods and services.
Corporate Income Taxation in Cayman Islands
There are no corporate income, capital gains, or other direct taxes imposed on corporations in Cayman Islands. Therefore, corporate residency is also not relevant in this regard.
However, there are import duties that are supposed to be paid ranging from 22% to 27%.
Stamp Duty is also paid at a rate of 7.5% on transfers of Cayman Islands immovable property.