HSM LAW
Overview on Registering and Paying Stamp Duty on Leases in the Cayman Islands
In the Cayman Islands, the registration and payment of stamp duty on leases is essential to ensure compliance with local statutory requirements. HSM Property Partner Linda DaCosta provides an overview of the legal obligations related to leases exceeding two years Read more +
Permanent Residence as a Person of Independent Means in the Cayman Islands
There have been recent reports in the UK Press about certain Caribbean countries “selling” citizenship. The BBC report that Antigua and Barbuda, Dominica, Grenada, St Kitts and Nevis, and St Lucia all provide Citizenship by Investment (“CBI”) for as little Read more +
HSM Supports Leadership Cayman and Congratulates Alyson Parsons
The HSM Group displays its commitment to Caymanians by supporting Alyson Parsons, HSM Marketing Manager, to take part in the Leadership Cayman 2025 Programme. Alyson successfully completed the programme and graduated alongside 21 other esteemed leaders on 12 July 2025. Read more +
Caymanian Attorney Lisa Donalds Joins HSM
HSM Chambers is pleased to announce the addition of Lisa Donalds to its legal team. Lisa joins as an Associate and is a part of the litigation team specialising in family law. With over 10 years of experience in the Read more +
Cayman Pension Update as a Result of COVID-19
In what will be seen by some as a welcome measure by the Cayman Islands’ Government, the Premier announced two proposed legislative changes to the National Pensions Law (2012 Revision) during the daily COVID-19 press conference on April 20 2020.
Firstly there would be a 6 month pension ‘holiday’ which would operate retroactively from April 1 2020. This means that pension contributions paid by both the employer and employee would be suspended during the period until November 1 2020.
Secondly, ‘eligible’ persons will be permitted to withdraw up to 100% of the commuted value of their pensions which will be capped at CI$10,000. Those persons with a commuted pension value of over CI$10,000 may withdraw an additional 25% of their remaining pension pot.
For example, an individual who has a commuted pension value of CI$100,000, may withdraw CI$10,000 + (25% x CI$90,000) = CI$32,500.
Withdrawals will be taken as a single lump sum and the proposed scheme applies to anyone contributing to a private pension. It does not, however, apply to those persons currently drawing on their pensions.
Cabinet will be considering the proposed changes and the corresponding legislation will be placed before the Legislative Assembly on Wednesday (April 22 2020)/Thursday (April 23 2020) before passing into law. The mechanics of the application process has not yet been set out.