Cayman Islands permanent residency by Investment

The application process for residency by investment in the Cayman Islands is relatively quick and simple. It can be broken down into simplified steps:

1. Clients contact JH Marlin Law
2. Initial due diligence checks are performed
3. Client agreement is signed, and retainer is paid
4. Applicants choose the qualifying investment option best suited to them, with the help of our team
5. File preparation, required documents are collected
6. Relevant investment is made by main applicant
7. Residence certificate application made on family’s behalf
8. Application and corresponding documents submitted to the government
9. Application fee is paid
10. If successful, activation fee is paid for issuance residence permit
11. Annual fee is paid by permit holder (varies)

No, there is no direct Cayman Islands citizenship by investment program. Applicants can first secure permanent residency through real estate or business investment. Over time, permanent residents may become eligible for Caymanian status through naturalization, which can eventually lead to a British Overseas Territories passport.

There are over 8,000 children enrolled in various schools across the Cayman Islands. There are many top-notch private schools.

People over the age of 65 compromise about 80% of the population. Many retirees consider Cayman a great place to retire for its top notch health care and tranquil living. Given the growing senior population, there are an increasing number of services tailored for seniors.

People from North America are increasingly Relocating to the Cayman Islands

Many high net worth families from Canada and the United States of America are choosing to relocate to the Cayman Islands There are many reasons why Cayman has become an attractive jurisdiction which include; healthcare, educational opportunities, quality professional services, time zone, English language, excellent quality of life, easy accessibility to Miami and other hot spots, tax neutral country, great weather. Many young entrepreneurs particularly in the technology fields are establishing their business in the Cayman Islands due to Cayman’s robust flexible legal framework. 

With the pandemic many people have realized the opportunity that they can work from anywhere and Cayman is quickly becoming the destination of choice for many people wishing to relocate abroad. 

Here are Reasons why you Should Consider moving to the Cayman Islands

Considering moving outside of your country of origin might seem like a giant daunting step, especially without the necessary information. Being informed can help you make the right decisions. 

Multiple Options for Residency

Before diving into the benefits of residing in the Cayman Islands, it is also vital to briefly explore the different options available. The Residency by Investment Program in the Cayman Islands provides a variety of options to potential applicants. There are over four options, to name a few, the Certificate of Permanent Residence for Person of Independent Means, the 25-Year Residency Certificate for Persons of Independent Means, the 25-Year Certificate of Direct Investment and the new Global Citizen Certificate. With all these options, applicants are assured of choosing an option that fits their personal and business interests. JH Marlin Law can walk you through the investment requirements for each route to residency

Tax Benefits

You guessed it right: taxes are practically nonexistent! The Cayman Islands is one of the best options given its tax-neutral environment. The government does not impose any taxes on all Cayman Islands incomes, corporations and withholdings, capital gains, inheritance or gifts. On top of that, companies can be assured to have these tax benefits for 20 years – protecting their business from uncertainty in the law. Entrepreneurs, business owners, individuals or families seeking to benefit from such a tax system should consider the Cayman Islands.

Political Stability

The British Overseas Territory, the Cayman Islands, offers an environment suitable for business development and family tranquillity. The Islands scored a 99.5% in political stability (Trading Economics 2019) – higher than the US, which has not scored higher than 60% since 2008. Considering political stability can be crucial, especially for businesses, since the absence of political stability can lead to economies and market failures.

Economic Growth

With political stability comes economic growth! Often used by Economists, the Gross Domestic Product (GDP) is a reliable indicator of a country’s economic growth. Since 2010, the Cayman Islands’ GDP has been increasing thanks to the growing investments and government policies. The Islands’ GDP growth was assessed at a 4.12 change (World Bank 2018) – higher than all G7 countries (Canada, the US, the UK, Italy, Japan, France and Germany). With higher GDP comes better profits for businesses. Any businesses looking to expand and entrepreneurs seeking to open up Startups can take advantage of the growing economy in the Cayman Islands.

Banking in the Cayman Islands

The Cayman Islands are a leading financial centre ranked 5^th globally. The country has one of the largest number of hedge funds in the world and is one of the top jurisdictions for banking.

Unlike often preconceived notions, the Cayman Islands is subject to high compliance standards to maintain its reputation. Incorporating an entity in Cayman is expensive when compared to other jurisdictions around the world such as the UAE, Hong Kong, BVI and others.

We often get asked what country offers the best banking services in the Caribbean and our response is the Cayman Islands.

However, opening a bank account in Cayman can be challenging. To open a bank account you often have to demonstrate a strong connection and ties to the country. This often means you need to have done a Cayman Islands residency just to be able to open a bank account.

• Best of the Best: It is known to be an expensive jurisdiction, attracting some of the most wealthy people in the world.
• Variety & Stability: There are a variety of options and stable banking. The Cayman Islands stable government
• Top talent: working in the Cayman Islands are some of the best lawyers, banking, accounting and wealth management professionals
• Top service: You can expect top service, responsiveness, professionalism and support. Banking is done in english. There are many high-quality legal services, professional service advisors and personal service providers to choose from. 
• Tax favourable jurisdiction: As a resident of the Cayman Islands you can reside in a tax haven where there is no personal income tax, no property tax, no company tax and no wealth or inheritance tax. By residing in the Cayman Islands you can potentially have zero taxes to pay, provided you do not have tax obligations in other countries.
• Quality of Life: The country has some of the best infrastructure in the Caribbean with quality health care and education. Large expat community. Natural beauty, best of the best.