Family & Business Relocation to the Cayman Islands

Whether re-locating as a solo expat, with family or as a retiree from work, Cayman provides superior options for long term, short term (leisure/alternative), work or event driven moves for HNWIs, UHNWIs and digital nomads.

Cayman offers individuals and families a suite of residency options for every circumstance, providing a welcome alternative to city life with diverse high-end residences offered for purchase.  As well, living in Cayman provides access to professional service providers of the highest calibre to facilitate businesses and family offices.

All residency options may include family and dependents.

The options to consider are as follows:

I. Long Term Residency and Citizenship – Certificate of Permanent Residence for Persons of Independent Means;

HNWI’s and UHNWIs of all ages who wish to relocate long term, may apply for indefinite residence in Cayman by means of a certificate of permanent residence for persons of independent means. In addition to being able to reside on island for life, the holder also has the option to work if desired (application required).

After residing in Cayman for 5 years, the holder is eligible for naturalization as a British Overseas Territory Citizen and eventually has the option to apply or the right to be Caymanian.

An applicant will be required to invest a minimum of US$2.4 million in developed real estate as well as furnish proof of having financial resources to maintain the applicant and all dependents.

There is a minimum residency requirement of 1 day per year.

II. Long Term Residency (25 years) – Persons of Independent Means

For persons who wish to establish a secondary residence, with no interest in British or Cayman citizenship or in obtaining the right to work on island, the 25 year residency certificate for persons of independent means may be suitable.

An applicant will be required to invest a minimum of US$1.2 million of which 50% should be in developed real estate. The applicant must also provide proof of a continuous source of annual income of US$150,000 or deposit US$500,000 with a local licensed bank.

There is a minimum residency requirement of 90 days per year.

III. Residency Certificate – Substantial Business Presence

This residency category gives the holder the right to work in Cayman in the business in which he has invested or is employed in a senior capacity. The grant is for 25 years which may be renewed.

The applicant must provide proof of ownership of an interest of 10% or more in the business which employs four (4) persons full time in Cayman or be employed in a senior management capacity.

There is a minimum residency requirement of 90 days per year.

IV. Residency Certificate – Direct Investment

With this residency option, the applicant will receive a 25-year residency grant. The applicant must provide proof that:

i.    he or she has made or proposes to make an investment of not less than US$1.22 million in a licensed, employment generating business which employs at a minimum 30% Caymanian staff; and

ii.    he or she has an entrepreneurial background including knowledge relevant for the business being undertaken.

There is a minimum residency requirement of 90 days per year.

V. Work / Event Driven Short Term Residency – Global Citizen Concierge Program

This program is a short-term initiative introduced in response to the coronavirus pandemic. It was recognized that many persons who now work from home would prefer to work remotely from anywhere but home and specifically a place with attractions and amenities that Cayman has to offer. With this program, digital nomads may reside and work in Cayman for a maximum of 2 years.

Applicants are not required to make any investment in Cayman however they must provide proof of employment outside of Cayman with minimum income of US$100,000 for single persons, US$150,000for couples and US$180,000 for families with children.

There is a minimum residency requirement of 90 days per year.

Purchasing Real Estate in Cayman

Cayman’s requirements for property ownership is simple – there are no restrictions on foreign ownership of property in Cayman. The only significant acquisition cost is stamp duty which is 7.5% on land transfers.  There are no property, corporate, wealth, withholding, capital gains or inheritance taxes in Cayman which makes investing in the Cayman Islands that much more attractive.

Why do HNWIs and UHNWIs choose to Relocate their Families and Businesses to Cayman?

  • Stable government
  • First class international financial centre
  • Tax neutrality
  • British Overseas Territory status
  • No restrictions on foreign ownership of real property
  • Ease of accessibility by air to major cities in the US, Canada, the UK and the Caribbean
  • Superior standard of living
  • Modern Infrastructure
  • Low crime rate

Premier health and education facilities

FrancisGrey’s experienced Relocations and Acquisitions specialists are trusted advisors who navigate, collaborate and support. To discuss your requirements for residency, real property and business acquisitions and licensing in Cayman, please contact:

Contributing Advisors