One of the top residency programs in the world is the Cayman Islands residency program. The Cayman Islands is a tax free country and offers a high quality of living with top notch education and healthcare. If you are looking to receive the best services in the Caribbean, often the Cayman Islands tops the list.

Here are some of the different options for residency in the Cayman Islands:

Certificate of Residency by Independent Means (Lifetime Grant):

– Lifetime Grant of residency stamped in existing passport
– Option to work in local economy
– Spouse and children (under 24) can become legal dependents under the Residency – Certificate and obtain work in local economy
– Ability to obtain Caymanian Status in roughly 10 years after being naturalized as British – – Overseas Territory Citizen (BOTC) which allows Cayman passport to be obtained, and subsequently a UK passport.
– Requires CI$2M (roughly US$2.4M) cash investment (no mortgage) in developed real estate (commercial or residential). Note that we can include the stamp duty paid to the purchase price for the purposes of calculating the investment total.
– CI$100k (~US$120k) one time grant fee

Residency by Independent Means (25 year grant):

-25 year grant of residency stamped in existing passport
-Does not allow you to work in local economy – generally appropriate for wealthy retirees. – No restriction on person working on offshore based businesses from home however.
-Spouse and children can become legal dependents
-No ability to obtain passport or Caymanian Status as the law currently reads but subject to possible change.
-Requires unencumbered total investment of CI$1M (~US$1.2M) of which CI$500M (~US$600k) must be in developed real estate (commercial or residential) – the balance can be raw land, shares in a local business or an investment account with a local bank. – –Must also have CI$400k (~US$500k) cash held in local bank as a general requirement OR -CI$120k in annual income
-CI$20k (US$24k) one time grant fee.

Setting up own offshore company, obtaining license to hold own work permit (Special Economic Zone or Offshore Trade & Business License)

– If a person is not ready to make such a substantial investment in property, then this option makes sense. Within a month, they can set up their own licensed business and obtain their own work permit (which can include any dependants) as long as they are doing offshore only business. For example, if the person was providing administrative support to their Canadian companies (or elsewhere) from Cayman, that would be a legitimate business purpose we could license. The person can then can obtain an annual work permit and work towards Permanent Residency at year 8, or convert to one of the options above at any time. From a Cayman perspective, there is zero taxation – no corporate tax, capital gains tax, withholding, sales and income tax, etc.

Certificate of Direct Investment – if a person invests CI$1M into a locally licensed employment generating business (new or existing) they could be eligible for a 25 year residency grant.

Residency by Substantial Business Presence – 25 year grant of residency if a person is 10% or more shareholder or a senior manager of an exempted offshore business (or one of the following categories)
· fund administration
· brokerage services
· investment and fund management services
· financial trading (including foreign exchange, securities and derivatives)
· captive insurance or reinsurance management services
· reinsurance underwriting
· investment banking
· actuarial services
· insurance claims management
· family office
· hedge fund incubation
· any exempted company providing offshore-only services

For more information about citizenship by investment

Antigua & Barbuda Citizenship by Investment
Dominica Citizenship by Investment
Grenada Citizenship by Investment
Saint Kitts & Nevis citizenship by Investment
Saint Lucia Citizenship by Investment
Malta Citizenship by Investment
Montenegro Citizenship by Investment
Turkey Citizenship by Investment
Cayman residency
Panama residency
Bahamas residency
Costa Rica residency
& more

This video does not constitute legal advice and is intended for informational purposes only. For further information and information specific to your case contact: jennifer@jhmarlin.com

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