Persons who have been legally and ordinarily resident in the Islands for a period of at least 8 years may apply to the Caymanian Status and Permanent Residency Board for the right to reside permanently in the Islands. The grant of such permanent residency is based on an applicant attaining 110 points from a maximum of 205 points in a variety of categories including: occupation; education; experience; local investments; financial stability; a history and culture test; community contributions; and possessing close Caymanian connections. Upon a grant of permanent residency, it is also possible for dependants of the applicant (i.e. spouse and/or children under the age of 18) to be granted permanent residency as well.
Residency Options for Persons of Independent Means
The Cayman Islands are an English-speaking British Overseas Territory in the western Caribbean Sea. In addition to being a major offshore financial centre, the territory boasts some of the highest standard of living in the Caribbean and is home to a number of high-net-worth individuals. The Cayman Islands has no income, property, estate or corporate taxes and there are no restrictions on foreign ownership of real estate.
For those persons wishing to spend some or all of their time in the Cayman Islands, there are four different residency options to consider. Please refer to the following guide (here) for an overview of each option. For detailed and bespoke advice, please do not hesitate to contact our experts in this area, Sophia Harris and Daniel Altneu.