Cayman Islands residency options

The purchase of real estate offers buyers an opportunity for low-risk, long-term investment, and in the Cayman Islands, it also provides options for individuals seeking residency in a sophisticated, tax-neutral jurisdiction.

There are many reasons to want to live in the Cayman Islands, starting with its high standard of living and sunny Caribbean weather. The British Overseas Territory is also easily accessible, politically stable and a well-regulated financial centre with first-class health services, schools and infrastructure.

The residency options include a Certificate of Permanent Residence for Persons of Independent Means and a Residential Certificate for Persons of Independent Means, the latter of which is ideal for retirees.

The application process normally takes four to eight weeks, but can sometimes be expedited to within a month. However, some complex applications — for example, if the financial means of the person applying is tied to a trust structure — might take slightly longer.

Once an application is approved, firms like Provenance Properties, the official Christie’s International Real Estate affiliate in the Cayman Islands, can provide a concierge service to help with everything from the relocation of pets and finding appropriate schools for children to finding commercial office space and quality service providers.

The Cayman Islands has one of the most efficient real estate purchase processes in the Caribbean, making buying a property not only a good investment, but also a simple task. The Grand Cayman property market is buoyant, particularly in popular areas on Seven Mile Beach, Crystal Harbour, Vista Del Mar and Grand Harbour. The real estate professionals at Provenance Properties can help with sourcing the ideal property or land across the many neighbourhoods of Grand Cayman.

As Grand Cayman grows and prospers, real estate values are forecast to continue to appreciate. Now is a good time to buy your piece of paradise in the Cayman Islands and become a permanent resident on this glorious island.

This article originally appeared in December's Camana Bay Times print edition under the headline "Residency through real estate."