About The Cayman Islands Citizenship and Residency

Cayman Islands offers a permanent residency program which also offers a path to eventual naturalization and citizenship. The process generally takes a minimum of three months.

Investment options available to acquire the citizenship and passport of Cayman Islands. 

• Investment in Real Estate

– One can invest US$1.2 million in local real estate. Successful applicants will qualify to apply for a 25-year residency certificate.

–  Alternatively, an applicant can invest US$2.4 million in local real estate. Successful applicants will qualify to apply for The Cayman Islands Permanent Residency by Investment.

• Dependents of the applicants

– Work permit applicants can include their spouse and children (younger than 18) as dependants on their application.

– Children are required to have a confirmed place in a school in Cayman to remain as dependents of an applicant unless they are home-schooled.

• Naturalization

– One needs to have PR for 12 months and live in the Cayman Islands for at least five years

– After completing the aforementioned requirements, one can apply under the British Nationality Act for Naturalisation as a British Overseas Territories Citizen (BOTC) by virtue of a connection with the Cayman Islands.

Cayman Islands Residency Requirements And Qualifications

1. Certificate of Permanent Residence for a Person of Independent Means (resulting in indefinite residence and the ability to apply to be a British Overseas Territory citizen)

A successful applicant will be granted indefinite residency in the Cayman Islands but will be required to submit an annual declaration to the Department of Immigration confirming (among other things) that the conditions set out below continue to be met.

– This Certificate of Permanent Residence does not allow the applicant to work in the Cayman Islands although a supplemental application can be submitted to allow the right to work.

– This is the only route (through investment and independent means) that allows the holder of this certificate, subject to certain requirements, to apply for naturalization as a British Overseas Territories Citizen.

– The cost of applying for a Certificate of Permanent Residence is USD 610 and, if the application is approved, there is an issue fee of USD 122,000 plus USD 1,220 per dependant.

Eligibility and Requirements: Certificate of Permanent Residence

• An investment of at least US$2,400,000 in developed real estate in the Cayman Islands
• The immigrant and their spouse must have good character and a clean criminal record.
• The applicant, spouse, and dependent children must be in good health and possess adequate health insurance coverage.
• The applicant must have adequate financial resources to maintain his family in the Islands.

2. Residency Certificate – Persons of Independent Means (resulting in 25-year term residency)

A successful applicant will be granted residency for a renewable period of 25 years but will be required to submit an annual declaration to the Department of Immigration confirming presence in the Cayman Islands for a minimum of thirty days in aggregate for the preceding calendar year.

– This category of Residency Certificate does not grant the holder a right to work in the Cayman Islands and there is no option to submit a supplemental application for the right to work.

– The cost of applying for this category of Residency Certificate is USD 610 and, if the application is approved, there is an issue fee of USD 24,500 plus USD 1,220 per dependant. A fee of USD 1,220 per dependant is payable per annum.

Eligibility and Requirements: Residency Certificate for Persons

The applicant should:

•  Provide evidence of a continued source of an annual income of no less than US$150,000
• At all times maintain a bank account in the Cayman Islands with a balance of not less than US$490,000 in assets
• Have invested an amount of US$1,220,000 in the Cayman Islands, with at least US$675,000 of that amount invested in real estate.
• Not be less than 18 years old, and
• Have a clean character without any serious criminal convictions, and
• Be in good health, and
• Have adequate health insurance cover, and
• Have stable finances with a continuous source of an annual income of prescribed value.
• Meet the minimum investment requirements mandated by the law.

3. Residency Certificate – Substantial Business Presence (resulting in 25-year term residency)

This category is open to persons wishing to become residents as well as persons that are already residents in the Cayman Islands. A successful applicant will be granted residency for a renewable period of 25 years but will be required to submit an annual declaration confirming the conditions below continue to be met.

– This category of Residency Certificate does confer on the holder a right to work in the Cayman Islands in the business in which he or she has invested or is employed in a senior management capacity.

– The cost of applying for this category of Residency Certificate is USD 1,220 and, if the application is approved, there is an issue fee of USD 6,100 plus USD 1,220 per dependant. The holder is also required to pay an annual fee equivalent to that paid by a work permit holder who is employed in the same occupation. A fee of US$1,220 per dependant is payable per annum.

Eligibility and Requirements: Residency Certificate

• Fulfillment requirements related to the substantial business presence: ownership of the interest of 10% or more or employment in a senior management capacity.
• The applicant must intend to be a legal and ordinary resident of the Islands for at least 90 days in a calendar year.
• The immigrant and their spouse must have a good character and a clean criminal record.
• The applicant, spouse, and dependent children must be in good health and possess adequate health insurance coverage.
• The applicant must have adequate financial resources to maintain his family in the Islands.

4. Residency Certificate – Direct Investment (resulting in a 25-year term residency)

A successful applicant will be granted residency for a renewable period of 25 years but will be required to submit an annual declaration confirming that the applicant and his business:

• complies with the original requirements,
• holds appropriate licenses for the business
• the applicant was in Cayman for a minimum of ninety days in aggregate for the preceding calendar year.

– This category of Residency Certificate confers on the holder a right to work in the Cayman Islands in the business in which he or she has invested.

– The cost of applying for this category of Residency Certificate is USD 1,220 and, if the application is approved, there is an issue fee of USD 24,500 plus USD 1,220 per dependant. The holder is also required to pay an annual fee equivalent to that paid by a work permit holder who is employed in the same occupation. A fee of USD 1,220 per dependant is payable per annum.

Eligibility and Requirements: Certificate of Direct Investment

The applicant must fulfill the following eligibility requirements to qualify for an Approval-in-Principle Certificate or Certificate of Direct Investment:

• S/he has made or proposes to make, an investment of not less than US$1,220,000 in a licensed “employment generating business” in the Cayman Islands (being an existing or new venture in which, ordinarily, at least 30% of the total number of employees are Caymanian)
• S/he has an entrepreneurial track record or background, including professional and technical knowledge to carry on the business.
• The investor must show proof of the availability of funds required to make the prescribed investment under his or her control.
• The immigrant and their spouse must have a good character and a clean criminal record.
• The applicant, spouse, and dependent children must be in good health and possess adequate health insurance coverage.
• The applicant must have adequate financial resources to maintain his family in the Islands.
• The investor can invest in the existing venture(s) or start a new enterprise. The applicant must exercise substantial management control on the venture(s).
• The investor is required to submit audited financial statements and details of the generation of employment arising out of the business at the end of the second and fifth years of the business.
• Beyond the fifth year, the investor will be required to submit the audited financial statements and details of the generation of employment as and when required by the Chief Immigration Officer.

5. Work Permit (resulting in indefinite residency and ability to be a British Overseas Territory citizen)

An individual holding a valid work permit can apply for permanent residence, provided the applicant has been employed by an employer based in the Cayman Islands for eight consecutive years. The successful applicant will be issued a Residency and Employment Rights Certificate, which will remain in force subject to the applicant paying an annual fee (equivalent to the fee payable on the grant of permanent residency) and providing an annual declaration confirming the below conditions continue to be met.

– There are also various ongoing obligations to notify the Government of a change of personal circumstances (e.g., change in a number of dependants, asset holdings, or changes to employment circumstances).

– In addition to the eight-year requirement, an applicant is assessed by reference to a regulated points system, requiring a score of no less than 110 points out of a possible 215 points before a grant of permanent residency will be made.

– An applicant can be awarded points in different categories, all based on the applicant’s connections with and contributions to the Cayman Islands as well as personal characteristics (including investments in local real estate or businesses; contributions to Caymanian community initiatives; the applicant’s occupation, education, experience, and financial stability; results of the mandatory history and culture test; country of origin).

Benefits Of The Cayman Islands Residency By Investment Program

• 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
• The judicial system is 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
• A friendly, welcoming, and educated population

Steps And Timeline

• Application Process: Certificate of Permanent Residence

• STEP #1: Submit the completed application form with all necessary documents to the Chief Immigration Officer at the Department of Immigration.
• STEP #2: rovide satisfactory proof of the real estate investment.
• STEP #3: The Officer shall review the form and require the applicant to submit additional information.
• STEP #4: Upon receipt of additional information and proof of payment of requisite fees, the Chief Immigration Officer may issue the Certificate of Permanent Residence for Persons of Independent Means.

• Application Process: Residency Certificate for Persons

• STEP #1: Submit the completed application form with all necessary documents to the Chief Immigration Officer at the Department of Immigration.
• STEP #2: The Officer shall review the form and the applicant may be required to submit additional information as required.
• STEP #3: Upon fulfillment of all the requirements, the Certificate of Residence Permit will be issued.

• Application Process: Residency Certificate

• STEP #1: Submit the completed application form with all necessary documents to the Chief Immigration Officer at the Department of Immigration.
• STEP #2: Provide satisfactory proof of shareholding in an approved business category and completion of all licensing requirements. If this requirement is ongoing, then the Officer may issue an Approval-in-Principle Residency Certificate (Substantial Business Presence). This certificate will be valid for six months.
• STEP #3: The Officer shall review the form and require the applicant to submit additional information.
• STEP #4: Upon completion of all eligibility requirements, receipt of additional information, and proof of payment of requisite fees, the Chief Immigration Officer may issue the Residency Certificate (Substantial Business Presence) will be issued. This Certificate is valid for 25 years.

• Application Process: Certificate of Direct Investment

• STEP #1: Submit the completed application form with all necessary documents to the Chief Immigration Officer at the Department of Immigration.
• STEP #2: Provide satisfactory proof of investment, business background and track record, and availability of and control over funds to the Chief Immigration Officer.
• STEP #3: The Officer shall review the form and require the applicant to submit additional information.
• STEP #4: The Officer shall solicit the view of the Department of Commerce and Investment and consider the same before issuing the Approval-in-Principle Certificate of Direct Investment. This Certificate is valid for six months.
• STEP #5: The investor is required to show proof of investment and acquisition of all required licenses before the expiry of the Approval-in-Principle Certificate.
• STEP #6: Upon receipt of the evidence, proof of payment of requisite fees, and due consideration of the views of the Department of Commerce and Investment, the Chief Immigration Officer may issue the Certificate of Direct Investment.
• STEP #7: This Certificate is valid for 25 years and renewable at the discretion of the authorities. This Certificate does not confer the right to obtain a license under the Local Companies (Control) Law or the Trade and Business Licensing Law.

Our Services

Privacy World offers its services to anyone, not only looking to obtain residency and/or citizenship processes but our experts figure out legal ways to:

• Find the best solution for your needs.
• Identify and deploy a strategy to help you accomplish your goals.
• Activate our network of people in the country where you need help without having you search for the best solution or lawyer. We only work with licensed people in every country whom we carefully vet and pass our guidelines and principles of privacy we stand for.
• Focus on cutting through the red tape and to expedite your process.
• Provide proper communication with you about your case.
  …. and above all: Offer you legal strategies to provide additional layers of privacy for your identity, while obtaining your residency or citizenship!

Privacy World can also help you with incorporating your company in the Cayman Islands, assisting in getting you settled in the country and coordinating with you so that this experience will be less of a hassle.

Want Privacy World to handle your case? Have any questions? Contact us!

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