Cayman Islands residency by investment guide

Overview

If you are a person of independent means or a qualified business investor, the path to obtaining permanent residency in the Cayman Islands can be a straightforward process.

Provenance Properties, the official Christie’s Real Estate affiliate in the Cayman Islands, can help you to find a home if you are seeking to achieve permanent residency in this thriving British Overseas Territory. With four residency certificate options to choose from, a growing number of discerning individuals now live and work in one of the world’s top 10 financial centres.

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. For example, purchasing this three-bedroom luxury beach home at The Residences at Seafire, which offers optional turnkey furniture packages from Restoration Hardware, qualifies buyers to apply for Cayman Islands residency if all requirements are met.

Our team have a wide range of listings available to help satisfy this requirement while finding your ideal home.

According to the Cayman Islands Government, the following residency certificates are currently offered to “Persons of Independent Means and Investors”:

1. Residency Certificate for Persons of Independent Means grants the right to live and work.
2. Certificate of Permanent Residence for Persons of Independent Means grants the right to live but not work.
3. Residency Certificate - Substantial Business Presence allows business owners and/or its senior management to live and work in the Cayman Islands for 25 years.
4. Certificate of Direct Investment is granted to those with an “employment-generating business”.

• No restriction on foreign ownership of land
• No direct taxation in the form of corporate, capital gains, inheritance, personal income or recurring property taxes
• Convenient location with nonstop flights to London Heathrow and major North American cities, including a 70-minute flight to Miami
• A sophisticated infrastructure with modern hospitals, reliable telecommunications, quality education and an extensive paved road network
• Strong and stable economy

• An estimated 3.2% growth in 2019 (GDP)*
• Stable, democratic government and a Governor appointed by the UK monarchy
• Low crime rate thanks to a well-established police force
• Judicial system based on English common law with the UK’s Privy Council serving as the highest court of appeal
• High-quality shops, services, hotels and restaurants
• Friendly, welcoming and educated population

Depending on which residency certificate you hold (or propose to hold) and whether you wish to progress towards citizenship, there are different requirements as to the number of days that you and your dependants must spend in the jurisdiction each year. Click here for more on this from Daniel Altneu, Senior Associate at Bedell Cristin.

*Cayman Islands Economics and Statistics Office
** Cayman Islands Ministry of Finance and Economic Development

Other guides that contain useful and comprehensive information about obtaining residency are available from Cayman Islands-based law firms Ogier and Bedell Cristin, both based in Camana Bay, and this moving and immigration guide from law firm Carey Olsen.

These law firms can also assist in guiding you through the process should you wish to proceed on the path to Cayman Islands residency.