What are the requirements in order to withdraw from my pension to buy property?

In certain circumstances you may withdraw up to CI$35,000 from your account to use as a deposit to purchase or build a home, buyland or to pay off an existing mortgage.

  • This service is available subject to certain conditions, including:
     You must be Caymanian, as per the meaning under the Immigration Law
  • If you are using the funds as a deposit to purchase or build a home you must not already own a dwelling unit in the Cayman Islands.
  • If purchasing land you must not own any other land in the Cayman Islands.
  • If you are purchasing either land or a home the funds must be used as a deposit on a mortgage offered by an institution with a class A banking license. 
  • If you are using the funds to pay off an existing mortgage on a home the amount must be enough to completely pay off that mortgage. This service is available subject to certain conditions, including:
     

 

 

 

 

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