HOUSE OF THE DAY: Buy A Gargantuan House In The Cayman Islands For $60 Million

caymans house

At 48,000 square feet, Castillo Caribe is likely the largest private home in the Cayman Islands.

It’s been on the market since last July, and the original listing price of $59.5 million has not moved since then.

Click here to tour the estate >
The home was previously owned by software mogul Jerry Beck, according to Homes of the Rich.

It has an incredible list of amenities, including a massive formal dining room, wine room, home theatre, billiards room with custom made bar, gym, steam room, spa, staff quarters, swimming pool with grotto, tennis court and helipad.

The home is ideal for someone looking to stow his wealth in an offshore account, and the Sotheby’s listing makes that crystal clear.

From the listing:

Although the Cayman Islands enjoy year round sunshine and a temperate climate, this benefit is eclipsed in most people’s eyes by the Islands’ offshore status.

The Cayman Islands are well known as a financial centre on the world’s stage and provide the highest quality of lifestyle available in a tax neutral environment, making it very appealing to people of high net worth to seek residency here – a position which is actively encouraged by the local government and, as a British Overseas Territory, is a very stable option.

There are a number of destinations in the world that are able to offer offshore status to a greater or lesser degree but the Cayman Islands have no local taxes whatsoever: no property tax, no income tax, no capital gains tax and no inheritance tax.

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