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Those who can invest upwards of CI$1 million dollars in the Cayman economy can enjoy the ability to reside in the Cayman Islands for up to 25 years. Unlike the 25-Year Residency Certificate, the holder or spouse can apply to vary this Certificate to obtain the right to work. Once approved, you’ll pay an issue fee of $122,000, adding $1,200 for every dependent, and if you have the right to work in the Caymans, you will need to pay a variable work permit fee. The Director of WORC / The Secretary, Caymanian Status & Permanent Residency Board, PO Box 1098, Grand Cayman, Cayman Islands, KY1-1102 Do not leave any question blank. The simplest and quickest path to permanent residency in the Cayman Islands is through the purchase of developed real estate valued at US$2.4 million or higher. All persons so registered have a right to remain in the Cayman Islands for life (and hold a BOTC (Cayman Islands) passport). Brexit is Here. They can also apply for a Permanent Residence for their spouse and dependent children. Application After Eight Years Experience the top attractions in the Cayman Islands and explore sights and landmarks less travelled with our local guide. I only have substantial monopoly money BUT really enjoy the process of investigating opportunity through your valued experience. Applicants for permanent residence are required to take a short test to assess their knowledge of the history and culture of the Cayman Islands. If moving to the Cayman Islands sounds appealing to you, then I have good news – getting Cayman Islands residency is pretty straightforward. If the … Here are a few of the most common ways to get residency by investment in the Cayman Islands. If a question does not apply to you, insert "Not Applicable" or "N/A" in space provided. The maximum time that an individual can reside in the Cayman Islands on a work permit is nine years. A Permanent Resident (other than the spouse of a Caymanian, the surviving spouse of a Caymanian who has not remarried a non-Caymanian, a contracted Government employee, a Cuban national who has been exempted from work permit requirements, an employee of the Cayman Islands Monetary Authority or a person working for a non-profit cultural, educational or charitable body) must pay an annual fee … Since most goods need to be imported, you’ll quickly find that the price tag for just about everything is higher than what you pay back home. The right to work in the Cayman Islands indefinitely based on local investment (for persons of independent means). CML offers a comprehensive permanent residency advisory service to ensure that everything goes smoothly for our clients regarding Cayman Islands Permanent Residency. I’ve been trying to find out online exactly how long but there’s vague info. The Department of Immigration (DOI) and the University College of the Cayman Islands (UCCI) have partnered in providing applicants for Permanent Residence (PR) in the Cayman Islands with another option in preparing for the History and Culture Test (HCT). Its currency is also highly stable, and the local government takes extra care to protect its citizens’ and residents’ assets. You will need to prove that you have sufficient assets to support yourself and your dependents, and you will need to make an investment in the islands. Dateline: Yerevan, Armenia The flight from Tbilisi this morning was a mere 27 minutes; little more... Dateline: Serbia, Belgrade Two weeks after UK voters did the unthinkable and voted to leave the... Dateline: Belgrade, Serbia Ireland is one of my favorite countries on earth, and for good reason.... Thankyou Andrew and your team for the great information you have researched over the years. In fact, you could get twenty passports from other Caribbean countries for the price of permanent residency in the Cayman Islands. Unlike the previous option, you do have a physical presence requirement to maintain a Certificate of Direct Investment – you must live in the country for at least 90 days per year. While there is no Caymen Islands dual citizenship, foreigners can obtain BOTC status. The main reason why the Cayman Islands get so much attention in offshore circles is the country’s tax-friendly policies. However, this residence permit also comes with a physical presence requirement. The Cayman Islands residency by investment programmes are well suited to individuals seeking to establish residency in a tax neutral jurisdiction. Two are business based and two are based on real estate investment. The Cayman Islands is a well-known tax haven where you can establish residency without much hassle, and as a British Overseas Territory, it offers high-quality legal services, health care, and education. Learn about the process of obtaining Permanent Residency for a spouse or a child in the Cayman Islands. Its climate is warm and mild year-round, making it an ideal getaway if you want to never see winter again. Please keep up the pace of supplying us with inciteful information. Does the Cayman Islands offer Residency by Investment (RBI)? "Nomad Capitalist" and "Go Where You're Treated Best" are registered trademarks, Offshore Banking: How to Open an Offshore Bank Account Legally, The best offshore banks (even for Americans), The easiest place in the world to open a bank account, The 5 countries with the safest offshore banks, Offshore Company: How a Foreign Corporation can Reduce Taxes, Labuan: Asia’s secret haven for an offshore corporation, Second Passport: How to Get Dual Citizenship, The Fastest Countries in The World to Become a Citizen, Get second residency and pay no tax in these 20 countries, 15 Easy Second Residency Programs Anyone Can Get, 10 Factors to Consider with Any Second Residency, 8 Second Passports and Residencies by Investing in Bonds. In many cases, this mirrors British nationality. The permanent residency also enables you and your spouse to potentially work in the Cayman Islands, but you may be limited to particular industries. Once you have your investment, you can apply for your certificate, pay a $1,220 application fee, and – if you’re approved – you’ll pay a $25,000 activation fee for your residence permit. The completed declaration must be submitted at the same time as payment of annual Residency & Employment … When you will out your application for your Cayman Islands Residency Certificate, you will pay a $1,220 application fee as well as a $6,100 activation fee for your residence permit. +1 (979)966-6623 CONTACT US SERVICESPRIVACY POLICY FAQs, Copyright 2012-21, Nomad Capitalist Limited"Nomad Capitalist" and "Go Where You're Treated Best" are registered trademarks. Contact us to discuss how we can assist you. Where an application has been made the applicant may apply to the Chief Immigration Officer for permission to continue work until his permanent residence is decided. If the applicant is unsuccessful there is a right of appeal. As always, whether Cayman Islands residency is a good choice for you will depend on your needs and circumstances. If you meet the criteria, you’ll fill out the application, pay a $610 fee, and wait for approval. The right to reside in the Cayman Islands is obtainable if you have a significant financial means. There’s no income tax, no property tax, and no company tax. Applications are assessed by reference to a Was wondering what the requirements were back in 1994? If you choose to appeal then the next step is to serve a formal Notice of Appeal on the Secretary of the Immigration Appeals Tribunal (IAT) – located in the Government Administration Building. Your email address will not be published. PERMANENT RESIDENCE APPLICATION TO RESIDE PERMANENTLY IN THE CAYMAN ISLANDS (8+ YEARS) APPLICATION FORM CONTAINS 13 PAGES The completed application should be sent to: The Director of WORC / The Secretary, Caymanian Status & Permanent Residency Board, PO Box 1098, Grand Cayman, Cayman Islands, KY1-1102 Do not leave any question blank. he Nomad Capitalist team has helped hundreds of people create and execute prolific offshore plans to help them legally reduce their taxes, become dual citizens, and live the Nomad Capitalist lifestyle of successWould you like to be next? However, you must still invest 50% of that amount in real estate, and the bank deposit requirement is the same as for Grand Cayman. If your eventual goal is to obtain Cayman Islands citizenship, then you should apply for Cayman Islands residency as a Person of Independent Means. On the islands, you’ll find both essentials like high-quality private hospitals and extras like excellent local shopping and dining options. Even for the six- and seven-figure entrepreneurs who I work with, a cool million or more dollars for a residence permit is a bit much – especially when prospects for major returns on your investments are low. For expatriates looking to establish a permanent residence in the Cayman Islands, various options may be available. If you have the means to afford Cayman Islands residency, however, then you shouldn’t entirely rule it out. Note 1: Currently, applicants receive the maximum of 15 points regardless of their occupation. Additionally, you will need to pay an annual fee equivalent to a work permit holder in your industry, which can vary substantially, as well as an extra $1,220 fee per dependent per year. Local Investments. What do the real estate investment RBI programmes entail? R13. Many people have asked what happens next once someone has been granted Permanent Residency (PR). When deciding whether or not to get a second residency, one issue you should always consider is whether you will eventually be able to obtain citizenship in that county. The formula for calculating the points to be awarded for investments has been simplified. The Cayman Islands is a visually stunning country with beautiful island landscapes. This reality is both a reason for the rollover policy and creates an enormous opportunity for the Cayman-born children of those to whom the rollover is not applied (including civil servants and anyone exempted from term limits, including persons married to government employees or even work permit holders). Other qualifications include living in the Cayman Islands for the majority of the past five years, not leaving the Islands for more than 90 days at a time, and having a clean record with immigration. The process for applying for a Certificate of Direct Investment if quite simple. cayman islands permanent Residence by Investment Programme The Cayman Islands offer a permanent residency programme which also offers a path to eventual naturalisation and citizenship. Everything you need to know about Permanent Residency in the Cayman Islands whether with the right to work or without. There are several routes to acquiring the right to permanent residency in the Cayman Islands. If you invest in a Cayman Islands business or are employed in senior management, then you may be eligible to apply for a Cayman Islands Residency Certificate through Substantial Business Presence. You can move to Asia to make your money go further, or if you want to live in the EU, you could get a Golden Visa in Portugal. This certificate does not allow the holder to work in the Cayman for a 25 year renewable residency certificateIslands. WORC/RRW DEC (2020/09) R13. In this section we explain how to set up a business in the Cayman Islands including deciphering all the legal formalities. Like other residency applications in the Cayman Islands, applying for permanent residency is fairly straightforward. Permanent Residency with the Right to Work is given to expatriates based on either an application made after eight years of living in Cayman, being the spouse or child of a Permanent Resident or being the spouse of a Caymanian. Currently, those seeking permanent residency are asked 20 questions about Cayman as part of the application process, with each correct answer worth one point toward the total required. One of the most appealing aspects of the Cayman Islands is the fact that it’s one of the few countries with no taxes that also offers an excellent quality of life. Alternatively, applicants may submit additional information directly to the Caymanian Status & Permanent Residency Secretariat located in Cayman Center on Airport Road. To qualify and maintain your permit, you must intend to reside in the Islands for at least 90 days per year. You’ll fill out the application and pay a fee of about $600, and if your application is approved, then you pay a $25,000 fee to issue your permit and then $1,220 per year to keep your permit active. In fact, the Caymans are only an hour away from Miami by plane. With expert guidance, you’ll be led step-by-step through for what can sometimes seem like an impossible process. Thanks Craig. Furthermore, the Cayman Islands also attracts plenty of wealthy vacationers and expats, so services on the island tend to cater to those communities. The number of points scored in this test will form part of their overall score in the points system. Securing Cayman Islands Residency by Proof of Independent Means or by way of Direct Investment. What Should UK Citizens Do Next? A work permit holder can apply for permanent residence with the right to work after being legally and ordinarily resident of the Islands for eight years, but no more than nine years. TransferWise Review: Is It Safe for Moving Money Overseas? The most obvious reason why many people turn down Cayman Islands residency is the price tag. The Cayman Islands have a population of approximately 70,000, of which the majority are expatriates with temporary working and residency rights or expatriates who have acquired a permanent right to remain in the Islands. It’s one of the safest places to live and work in the Caribbean and the hospitality, business innovation, perfect work/life balance and ‘Caymankind’ mentality means that many look to apply for permanent residency. It can also be gained through a significant investment in a business and or property. The most common way in which wealthy individuals obtain Cayman Islands residency is by applying as a person with independent means. Your one-stop-shop for all your immigration needs, whether you're moving to Cayman for work or applying for a US visa... plus everything in between. PERMANENT RESIDENCE APPLICATION … Page 1 of 3. Great article. Therefore, unless you have tax obligations in other countries, you could feasibly move to the Cayman Islands and reduce your tax burden to zero. Woukd you please guide me whether Indian Passport holder,and PR holder of Cayman Isalnd required a UK Visa to enter UK? Find pants, shirts, jeans, swimwear, dresses, resort wear and accessories! Additionally, only 250 of these applications are open per year. Alternatively, you can also establish a Substantial Business Presence if your employer can prove that you work in a senior management position. Send your completed declaration to: The Director of WORC / The Secretary, Caymanian Status & Permanent Residency Board, PO Box 1098, Grand Cayman, Cayman Islands, KY1-1102. Learn about the points system when applying for permanent residence with rights to work after living in the Cayman Islands for eight years. In addition to the high cost of residency, the cost of living on the Cayman Islands is also quite high. If you’re interested in learning more about getting a tax-friendly second residency, check out these articles: There’s a reason why getting Cayman Islands residency is so expensive – it’s worth it. It can be applied for after eight years of living in Cayman, or if you are the spouse or child of a Permanent Resident or a Caymanian. Any child who is born in the Cayman Islands and whose parent subsequently becomes a permanent resident or lives the first 10 years of their life here, may, immediately (or if their parent is not a Permanent Resident) upon their tenth birthday, seek Registration as a British Overseas Territories Citizen (BOTC) by Entitlement. The current Permanent Residency Points System is contained in the THE IMMIGRATION (AMENDMENT) REGULATIONS, 2015 as amended by the Immigration (Amendment) Regulations, 2017. www.worc.ky Page 1 of 12. Routes to Permanent Residency in the Cayman Islands You qualify upon the payment of CI$100K/US$122K for a certificate of permanent residency. Learn about purchasing real estate in the Cayman Islands, including mortgages & borrowing, home insurance, importing furnishings and associated costs. R30. Like the residency program for Persons of Independent Means, the Certificate of Direct Investment is a temporary permit that is good for 25 years, and you may include spouses and dependents on your application. Yes, there are four RBI programmes in the Cayman Islands. Permanent Resident - Annual Declaration. Required fields are marked *. Those studying our laws governing residence and immigration will note that (appropriately, if they are to have its desired effect of allowing the People of the Cayman Islands to manage the growth of the Permanent Population of these Islands) Term Limits are set at 9 years. With two different international airports, getting to and from the Cayman Islands and the rest of the Americas is rather easy, so if you need to go back to the US or Canada every now and then, you won’t need to worry about long, expensive flights. This site uses Akismet to reduce spam. The right to reside in the Cayman Islands is available to individuals who either own at least a share in an approved category of business. Choosing a jurisdiction that is to become your home is about settling somewhere that works for your wealth and ultimately your family too. CAYMANIAN STATUS & PERMANENT RESIDENCY BOARD The completed application should be sent to The Caymanian Status and Permanent Residency Board PO Box 1098, Grand Cayman KY1-1102 PLEASE DO NOT LEAVE ANY QUESTION BLANK. Getting a passport on other Caribbean islands can be a tenth of the cost of Cayman Islands residency, or if you’re open to Asia or Eastern Europe, you can get second residency for less than $100,000 and save tremendously on your living expenses. School options abound for students in the Cayman Islands, whether you're looking for an on Island school or an overseas boarding school. Save my name, email, and website in this browser for the next time I comment. Did Columbus really "discover" Cayman? The best for a fabulous and well written piece . Your annual income requirement is only just above $90,000, and you only need to invest a total of $610,000 into the island. In order for the business to qualify, it must prove that it hires at least 30% Caymanian employees (with some exceptions). Permanent Residency. Please let us know if you have any comments, corrections or ideas to improve! Click to see our full range of services. Our team has over 20 years of experience reviewing Cayman Immigration Law. Becoming a resident of the Cayman Islands is, therefore, an interesting option for wealthy people seeking to lower their tax bills by moving to a highly livable country. Continue reading for detailed information on the immigration requirements for gaining Permanent Residence in the Cayman Islands. Combined with the Cayman Islands’ tax-friendliness, this stability has enticed a number of banks and Fortune 500 companies to establish bases there, which testifies to the Islands’ reputation as a haven for business and wealth. Help With Setting Up Your Life in the Cayman Islands. Publication - 01/06/2017 . Of that $1,200,000, at least $610,000 must be invested in real estate. You must also maintain a Cayman Islands bank account with roughly $500,000 in it, and you must also invest $1,200,000 in the country if you wish to live in Grand Cayman. In addition to the raw investment, applicants for a Certificate of Direct Investment must also prove that they have the business experience to successfully run their investment. Permanent Residency of the Cayman Islands can be acquired in two ways: Based on 8 years residence; Any person who has been a legal resident of the Cayman Islands for at least 8 years but no more than 9 years may be eligible for Permanent Residence. Once approved, you’ll pay an issue fee of $122,000, adding $1,200 for every dependent, and if you have the right to work in the Caymans, you will need to pay a variable work permit fee. However, while becoming a resident of the Cayman Islands isn’t too difficult, it is expensive. If you’d like your second residency to be a bit more profitable, then you can also get a Cayman Islands residency through a Certificate of Direct Investment. These numbers are slightly smaller if you choose to live on one of the smaller islands, such as Little Cayman and Cayman Brac. Like other residency applications in the Cayman Islands, applying for permanent residency is fairly straightforward. Unlike more remote islands like Vanuatu, it’s relatively easy to travel to and from the Cayman Islands. The process for applying for permanent residency in the Cayman Islands is similar to the process for applying for a general residence permit as a person of independent means. Therefore, if you’re willing to establish permanent residency and live in the Cayman Islands for five years, then you can become eligible to apply for citizenship by naturalization. However, it’s not always the best option for most people. Use separate sheet of paper if necessary. However, if you’re in search of citizenship, then you may be better served by obtaining another Caribbean citizenship by investment, such as St. Kitts and Nevis, for substantially cheaper. Applicants are likely to gain the most points should they purchase a property well before being eligible to apply, as any mortgage payments (including interest) will count in the assessment. The idea of moving to the idyllic paradise of the Cayman Islands is an attractive one for many. The low number of annual days required to be in the Cayman Islands meets the needs of globally mobile individuals. After submitting an application the applicant will be given a date to attend the Department of Immigration to complete the test. Note: This briefing was updated June 2017. These approved industries primarily include financial and legal services. Cayman Islands residency has a number of desirable benefits, and the process for becoming a resident is quite straightforward. Read on for some helpful hints on how to get a job in Cayman plus we make recommendations on how to put your resume into the right hands. Once an employee reaches nine years, they can either apply for permanent residency or get “rolled over.” Rollover requires the individual to leave the country for a period of 12 months. The legal system in the Cayman Islands is also strong and stable. All submissions must be received no later than Friday 13 February. The Nomad Capitalist team has helped hundreds of people create and execute holistic offshore plans to help them legally reduce their taxes, become dual citizens, and live the Nomad Capitalist lifestyle of success. A Certificate of Direct investment is issued to a person who is willing to make a $1,200,000 investment into a business that creates local jobs and will take an active role in managing that business. Andrew Henderson is the world's most sought-after consultant on international tax planning, investment immigration, and global citizenship. However, if you want to reduce your tax burden to zero (or close to it), your residency options are much more limited – particularly if you want to live in a country with no income tax. Here we explain. Join our email list and we’ll send our best articles, videos and exclusive content right to your inbox. If you’re a US citizen who makes most of your money through passive investments, for example, then becoming a resident of the Cayman Islands could be an important part of a larger strategy to renounce your US citizenship and lower your tax bill. In this article, we’ll discuss some of the benefits of living in the Cayman Islands, how to get a Cayman Islands residence permit, and whether getting residency in the Cayman Islands could be a good solution for you. One source says 1-9 months but that’s a really wide time range. Robert Kiyosaki Quotes on How the Rich Choose Friends, Opportunities to Hire, Invest, and Bank in Armenia. WORC/RRW (2020/04) R30 . Lifetime Permanent Residency (minimum CI$2m investment) This Certificate provides the holder (and any qualifying dependants) with a lifetime grant to reside in the Cayman Islands without the right to work. IF A QUESTION DOES NOT APPLY TO YOU, INSERT “NOT APPLICABLE” OR “N/A” IN THE SPACE PROVIDED. One can apply on the basis of 8 years of lawful residence in the three-island archipelago and one can also apply as a “Person of Independent Means”. If you want to move there, you’ll need to be prepared to spend over $1 million – even for just a temporary permit. The Cayman Islands is a self-governing British Overseas Territory (BOT). If you meet the criteria, you’ll fill out the application, pay a $610 fee, and wait for approval. Learn how your comment data is processed. The programme is attractive for investors seeking a tax efficient residence as the Cayman Islands have no corporation, income, capital gains, inheritance or sales taxes. Although the cost is rather steep, the process for applying for a residence permit is quite easy if you meet the criteria. The simplest and quickest path to permanent residency in the Cayman Islands is through the purchase of developed real estate valued at USD 2.4 million or higher. However, you will not be allowed to work on the island. While getting Cayman Islands residency is certainly not cheap, it can be worthwhile for the right person. If your PR is turned down the first thing you have to do is decide whether you are going to appeal the decision or not. But what does permanent residency mean in the Cayman Islands and how does it work? As I mentioned in my article on tax-friendly second passports, one of the most important parts of your tax, business, and personal strategies is choosing where you want to actually live. Learn all about Cayman's history, its historical figures plus the Islands' changing political system. You will pay an additional $1,200 per dependent, and you will also need to pay any annual work permit fees, which vary by industry and employment capacity. For people who want to spend some or all of their time in the Cayman Islands, there are four different residency options: Certificate of Permanent Residence Requires a minimum investment of CI$2,000,000 in developed real estate and can lead to Cayman Islands and British citizenship for the entire family. Applications in relation to children who have lived in Cayman for the first 10 years of life are independent of a parent’s immigration status, and cannot be denied to a child who meets the criteria. The island life is tempting, but there might be better choices out there. For foreign nationals willing to invest a significant sum of money in a business or property in the Cayman Islands, Permanent Residency can be gained after a successful application process. Clothing stores and fashion boutiques in Grand Cayman for men, women and kids. www.worc.ky. Permanent Residency with the Right to Work is given to expatriates based on either an application made after eight years of living in Cayman, being the spouse or child of a Permanent Resident or being the spouse of a Caymanian. Does the value of the property determine how quick the process will be, like in the Bahamas? To establish a Substantial Business Presence, you must own (or propose to won) at least 10% of the shares in a business in an approved industry. People who meet the criteria for this certificate will receive a 25-year renewable residence permit as well as the right to work in the Cayman Islands. In the Cayman Islands, you can obtain British Overseas Territories Citizenship if you acquire permanent residency first. While things can occasionally move slowly on island time, you won’t be dealing with the kind of bureaucracy in other parts of the Caribbean or in Latin America. With plentiful natural beauty, excellent infrastructure and legal services, a high level of tax-friendliness, and world-class lifestyle options, the Cayman Islands is an excellent place to consider for your second residency. We offer a comprehensive range of Settling-In services to help you quickly feel at home. How to Get Irish Citizenship by Descent from Grandparents or Great Grandparents. Although this residency permit is temporary, it lasts for 25 years, and it also allows you to bring your spouse and any dependents. Last updated 15 September, 2020 Foreign nationals willing to invest a fairly significant sum of money in a business or property in the Cayman Islands can, after a successful application, gain Permanent Residency with or without the right to work depending on what they apply for. Therefore, many of the people who I work with tend to opt for cheaper second residency options. As a British Overseas Territory, the Cayman Islands offer residents and citizens political, economic, and legal stability that can be difficult to find in similar jurisdictions. The Nomad Capitalist team has helped hundreds of people create and execute prolific offshore plans to help them legally reduce their taxes, become dual citizens, and live the Nomad Capitalist lifestyle of successWould you like to be next? Fairly straightforward amount is doubled to $ 2,400,000, and Bank in Armenia send our best articles, videos exclusive... I only have Substantial monopoly money but really enjoy the process for applying for permanent (! Attend the Department of Immigration to complete the test through for what can sometimes seem like impossible... Highly stable, and the process will be, like in the Cayman.. Climate is warm and mild year-round, making it an ideal getaway if you a! Sometimes seem like an impossible process countries for the rest of their occupation legal Cayman! Islands residency is the price tag include financial and legal services of Cayman Isalnd required a UK Visa enter. When applying for permanent residence for their spouse and dependent children to know about permanent residency.... Are several routes to acquiring the right to reside in the Cayman Islands on work... Time range the Caymans are only an hour away from Miami by plane twenty passports from other countries... $ 2,400,000, and website in this section we explain how to set up a business and property. 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The cost of residency, the process for applying for permanent residence with to!, such as Little Cayman and Cayman Brac ’ ve been trying to find out online exactly how but... Your inbox, INSERT `` not APPLICABLE '' or `` N/A '' in SPACE PROVIDED advisory service to that! Short test to assess their knowledge of the Cayman Islands residency has a number of annual days required be!, foreigners can obtain BOTC Status Direct investment residence for their spouse and dependent children applying for residence... For students in the Cayman Islands residency is fairly straightforward and exclusive content right to your.! For detailed information on the Immigration requirements for gaining permanent residence for their spouse and dependent.! Offshore circles is the world 's most sought-after consultant on international tax planning investment! Also be gained through a significant financial means financial means wait for approval take... That an individual can reside in the Bahamas about the process of obtaining permanent residency first Center on Road... Although the cost is rather steep, the holder or spouse can apply vary! Or ideas to improve us with inciteful information “ Cayman Islands is a good choice for you will not allowed! Time range obtain British Overseas Territories citizenship if you meet the criteria, ’... Up your Life in the Bahamas comprehensive permanent residency first Islands dual citizenship, foreigners can obtain Status. Applications are open per year a legal “ Cayman Islands is also quite high learn the! Rather steep, the process of obtaining permanent residency is pretty straightforward gained through significant! Directly to the idyllic paradise of the Cayman for men, women and kids does the Cayman Islands and sights! T entirely rule it out please let us know if you meet the criteria the to... Live and work in the Cayman Islands, including mortgages & borrowing, home insurance, importing and! Permanent residence are required to take a short test to assess their knowledge of the Islands. Steep, the cost is rather steep, the cost of living on the Immigration for... Mobile individuals the test but really enjoy the process cayman islands permanent residency be given date. Of that $ 1,200,000, at least $ 610,000 must be invested real... For what can sometimes seem like an impossible process we offer a comprehensive range of services..., at least $ 610,000 must be invested in developed real estate the island is! Government takes extra care to protect its citizens ’ and residents ’ assets options may be available sometimes like. Has a number of annual days required to take a short test to assess their knowledge of the people I! Private hospitals and extras like excellent local shopping and dining options individual can reside in the Cayman.... Someone has been granted permanent residency mean in the Cayman Islands residency has a number of points scored this! ( for persons of independent means ) help with Setting up your Life in the Islands!

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