Living in the Cayman Islands: Options for Investors

While other Caribbean CBI programs jostled for investors in 2017, the Cayman Islands kept a low profile and deliberately retreated from the regional price war by doubling the minimum investment for some of its investment options. Unlike many other Caribbean programs, the Cayman Islands does not simply offer a second passport for a donation; Instead, it offers stay options – including one Option for permanent residence, which can lead to the following after a period of five years.

Wealthy investors have two attractive options for obtaining residency in the Cayman Islands:

Real estate investment:

Permanent residency through the Certificates of Permanent Residence for Persons of Independent Means (PR) program
Minimum investment of $2.44 million in developed properties
Possibility of Caymanian and British citizenship after five years
Exclusivity, high quality of life and lowest crime rate in the Caribbean
Tax neutrality with numerous advantages

Building a Substantial Business Presence:

The SBP program grants the holder and his family a 25-year Cayman Islands residence permit, which allows the holder to work in a senior management position in a recognized business category.
This option requires a minimum annual usage fee of US$25,000 (KYD 20,925) to be paid to the government. 25-year residence permit with extension option

This option does not give you a direct path to citizenship! After eight years, the family can apply for permanent residence using a points system. This application process awards points based on criteria related to employment, skills, community contributions, investments, financial stability and demographics.

Requirements:

Comprehensive supporting documents such as ID cards, police clearance certificates, health reports and financial statements
Application forms on the government website
Processing time: approx. three months

Requirements after receiving the residence permit:

Maintaining investment (if applicable)
Annual Fees and Affidavits

Annual stay on the islands:
Permanent residence: at least 1 day
25-year residence permit through real estate investment: 30 days
25-year residence permit through business presence: 90 days


British citizenship:

Possible after five years of permanent residence
British passport with visa-free travel to 185 countries
No right of residence in the UK

Conclusion:

The Cayman Islands offer attractive options for investors seeking residency in the Caribbean. Exclusivity, high quality of life, tax neutrality and the possibility of British citizenship make the islands a sought-after destination.

If you’re thinking about leaving the country but don’t know where to start, our GCI UNT Worldwide team is here to help.

We’ve helped hundreds of people move their businesses overseas, legally reduce their taxes, and become dual citizens. We are focused on high-net-worth individuals and their families as well as corporations wishing to invest their offshore companies or even secure their wealth in offshore financial centers around the world. We will help you to find the best solution for setting up an offshore or onshore company. Another special area of our full-service consulting is the investment opportunity and solution in Europe, especially in the Balkans, Africa, Asia, UAE, the Caribbean and the Pacific.

If you are looking for it, please feel free to contact us. We create a holistic plan that serves your purpose.
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