It is possible for foreigners to open bank accounts and borrow to finance a purchase. Local banks will generally lend between approximately 50-75% of the property value to foreigners and will generally require a first legal mortgage over the property. If lending to a company, the lender will also require a guarantee from the shareholders and/or directors. The terms of the loan can go to an extent of 20 years, but usually 15. Listed below is the lending institution we recommend.

Frank Ebanks

First Caribbean International Bank (Cayman) Ltd
International Premier Manager
P. O. Box 68 G.T., 25 Main Street
Grand Cayman, Cayman Islands

Tel: 1-345-815-2260
Fax: 1-345-815-2293
Email: frank.ebanks@firstcaribbeanbank.com
Website: www.firstcaribbeanbank.com
Client Care: care@firstcaribbeanbank.com