Receive up to $5,000
Towards Your Home Purchase
Homeownership is closer than you think. Discover how the First-Time Caymanian Home Buyer Grant can assist with closing costs and related expenses, and make buying your first property an attainable reality.
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Enter your email below to instantly download the First-Time Buyer Grant Application PDF Form, and fill it out after you close on your property.
How the Government & CIREBA Are Helping You Buy
CIREBA and the Cayman Islands government have partnered to help lower the financial hurdles of buying a home. Here’s how this collaboration can put money back in your pocket:
The $5,000 Grant
Thanks to a powerful partnership between the Cayman Islands Government and CIREBA, first-time home buyers can receive up to $5,000 to help you cover frustrating upfront expenses like legal fees, bank valuations, and closing costs.
100% Stamp Duty Waiver
Keep your savings for your home, not taxes. Eligible buyers pay 0% Stamp Duty on homes or land valued up to $550,000. Purchasing something slightly higher? You still benefit from heavily discounted rates on properties valued up to $650,000.
How to Qualify for Your $5,000 Grant
The $5,000 grant is the ultimate way to slash your upfront moving costs. To secure this cash injection for your legal fees, valuations, and closing costs, you must meet the following criteria:
- Approved Stamp Duty Concession:
Because this grant works hand-in-hand with government concessions, you must first apply for and receive approval for a first-time buyer stamp duty concession. - First-Time Caymanian Buyer:
You must possess official right to be Caymanian and be purchasing a home or land in the Cayman Islands for the very first time. - Close on Your Property:
Successfully close on your qualifying property and then complete and submit the First-Time Caymanian Home Buyer Grant application form. - CIREBA Representation:
You must partner with and be represented by a licensed CIREBA real estate agent, such as 1503 Property Group, during your property purchase.
Let Us Help You Get Started
Connect with 1503 Property Group and start your grant application today.
Your Step-by-Step Guide to Saving on Your First Home Purchase
Buying a home involves several moving parts, but securing your government and CIREBA concessions doesn’t have to be complicated. Here is how the process works:
Step 1: Get Pre-Approved
Before looking at properties, sit down with a local bank or mortgage specialist to establish your exact budget. This tells you exactly what you can afford.
Step 2: Find Your Property
Partner with a licensed CIREBA real estate agent, such as 1503 Property Group. They will help you find properties that fit your budget and qualify for the first-time buyer benefits.
Step 3: Complete the Stamp Duty Waiver
Submit the official paperwork to the Ministry of Finance and Economic Development. Processing takes approximately 10-15 business days.
Step 4: Close and Apply for the Grant
Partner with 1503 Property Group to submit your grant application at closing and enjoy savings on eligible home purchase costs.
Don't Miss Out on Your
$5,000 Grant
Have you found closed on your property, or are you just getting your paperwork organized? Don’t let the application process slow you down.
Get the right info and expert support right now.
Common Questions About the Grant
How do I get the $5,000 grant paid out?
The grant is designed to directly lower the cash you need to bring to the closing table. Once your first-time buyer stamp duty concession is approved by the Ministry of Finance , the $5,000 grant works hand-in-hand with that approval and is applied directly at closing to help cover your legal fees, bank valuations, and closing costs.
Can I still get the grant if I am buying with a non-Caymanian spouse?
Yes, you can still benefit! In joint purchases where one buyer is Caymanian and the other is not, the stamp duty waiver is typically prorated and applied to your share of the property. Because this approval triggers the program benefits, you can still access the financial support to reduce your overall upfront closing costs.
Does the $5,000 grant apply to buying raw land or pre-construction?
Yes! Whether you are buying a move-in ready house, a pre-construction condo, or a parcel of raw land to build your dream home on later, the first-time buyer concessions and grant apply. (Please note: While the grant remains a fixed benefit, the maximum property value threshold for the 100% stamp duty waiver on raw land is slightly different from that for a completed house.)
How long does it take to get approved for the grant and concessions?
Processing times with the Ministry of Finance and Economic Development are 10-15 business days, sometimes longer, depending on their current volume. However, the most common cause of delays is incomplete paperwork. Because securing your stamp duty concession is the gateway to unlocking your $5,000 grant, downloading our application form and ensuring every field is correctly filled out is the best way to achieve fast, smooth approval.