Countries around the world are competing to attract wealthy investors who can contribute financially and culturally. In exchange for investment, individuals can gain access to markets, healthcare, education, and numerous other incentives.
What is a residence by investment program?
A residency by investment program is an opportunity for high-net-worth individuals to relocate to a new country of residence. Through resident and citizenship programs, one can gain the right to live, work, study, and receive healthcare in a suitable foreign country of their choosing.
What are the benefits of a residence by investment?
A golden visa can substantially improve the quality of life of an individual and their family. Additionally, successful applicants gain visa-free access to many other territories. Through one of these programs, you can move somewhere new and exciting to get a fresh start.
The main benefits of top residency programs are:
- A second chance at life: Leaving your country of citizenship and starting anew is a once-in-a-lifetime opportunity. Immigrant investor programs give foreign investors the unique chance to change their environment and discover new living standards. Eventually, residency may lead to citizenship by naturalization, giving someone the right to dual citizenship.
- Enjoy political and social stability: Political turmoil can have a negative impact on a country’s economic growth and quality of life. If you come from a country where the political institutions and social climate put you, your loved ones, and your investments at risk, then a second residency is your ticket to a safer life. Even if you aren’t thinking of moving right away, a second residency can keep you safe in case of emergency.
- Visa-free travel: Some countries have better travel privileges than others. The best residency programs allow you to obtain a second passport, opening up visa-free access to many other countries. Through visa-free travel, you can visit multiple destinations without ever having to step into an embassy or consulate ever again.
- Increased business and investment opportunities: Through a residency program, an individual can move to a country with more palpable economic growth than their own. For an entrepreneur, this means being able to grow their business or maybe start a company.
- Better education possibilities: Through the acquisition of golden visas, a person and their family can gain admittance to a wide array of education and training programs. Many parents move to another country to provide their children with higher quality education.
- Improved access to healthcare: Through investment visas, you can do more than just improve your quality of life. Becoming a resident of a country can give a person access to a better healthcare system. Additionally, some countries have enhanced and affordable treatments in fields like odontology, cosmetic surgery, and more.
A more appealing tax system: In some countries, taxes are very high. This makes life more expensive for the vast majority of people and can lead to social unrest. Restrictive tax laws may impede you from saving money or giving it a more fruitful purpose, such as investing in your business. Golden visas can help you secure your money and make the best out of it.
What is the difference between residence and citizenship by investment program?
Golden visas allow applicants to reside in a country after an initial investment. In contrast, citizenship by investment programs grant a person citizenship automatically after a capital investment is made in the country. While golden visas offer many of the same benefits as citizenship by investment programs, they are not the same. A successful economic citizenship application grants a person the benefits normally reserved for natural-born citizens.
Through foreign investments, residents may be allowed to live and work full-time in the country, open businesses, and access social services. In due time, a golden visa acquired through immigrant investor programs can give someone the option to obtain dual citizenship through a separate application process.
Which country is best for residence by investment programs?
The best residency program for individuals who wish to acquire permanent residency is the Cayman Islands. As one of the world’s leading financial centers, the Cayman Islands is the ideal destination for foreign investors looking to expand their horizons.
The Cayman Islands has one of the highest standards of living in the world. Current residents have access to outstanding health, education, and legal services. The application process is simple and can be completed in a matter of months.
The Cayman Islands is distinguished from other Caribbean programs because residents have considerable business advantages. For instance, they don’t have to pay any income, property, company, wealth, or inheritance taxes. Additionally, the country offers a very stable economic and political climate. As an overseas territory of the United Kingdom, it enjoys very good international relationships with Britain, the United States, and other territories.
What are the requirements for residence by investment?
Cayman Islands residence requirements include:
- Being at least 18 years old
- Having a clean criminal record
- Being in good health and having adequate health insurance coverage
- Being in good financial standing
Foreign investors have five different methods to obtain a Cayman Islands residency. Every option has its own set of investment requirements.
1. Certificate of permanent residency for persons of independent means (Lifetime grant)
This permanent residence permit allows a person, their spouse, and children under 24 years of age to live and participate in the local economy. Applicants to a residency by independent means can eventually obtain citizenship via naturalization as British Overseas Territory Citizens (BOTC), which will give them access to Cayman and UK passports.
An application and one-time issue fee must be paid to access this method. Investors also have real estate investment options, where they gain golden visas in exchange for investment in a developed real estate project.
2. Certificate of residency for persons of independent means
While not permanent, this option allows a person to live in the country for a 25-year period. This residency permits individuals to work on their offshore businesses from home, but restricts their capacity to work in the local economy. Therefore, this golden visa program can be very enticing for retirees with profitable corporations and investment funds.
Applicants can access this residency by investing in developed real estate options, such as commercial buildings or residential property. Other residency requirements include paying a one-time grant fee and holding a certain amount of cash in a local bank.
3. Certificate of direct investment
Individuals who invest in an employment-generating business are eligible for a 25-year period of residency. Applicants can spark economic activity by investing in a new business or making a transformative investment in an existing one. Moreover, they must hire at least 4 full-time workers.
4. Certificate of residency by substantial business presence
If an individual is at least a 10% shareholder or senior manager of an exempted offshore business, then they may be granted a 25-year resident permit.
5. Special economic zone or offshore trade and business license
Under this option, individuals can set up their own licensed businesses and obtain investment visas within a month. To qualify, the applicant must be doing offshore-only business and be granted a license. This is one of the most popular options. CEC offers many benefits to companies that establish themselves in the special economic zone. Some of these benefits include, streamlined business registration, tax-free status and access to a skilled workforce. The CEC is particularly looking to attract and support the growth of media, technology and medical research companies.
After a period of time, one can possibly be awarded a permanent residency. Under this method, a Cayman Islands residency is attained through a points system, which considers:
- Occupation
- Education, training, and experience
- Financial stability
- Local investments
- Integration into the community
- Connections to the Cayman Islands
- History and culture test
- Demographics and cultural diversity
How to acquire residence by investment
Contact JH Marlin to become a Cayman Islands resident. Over the past five years, we have helped hundreds of individuals accomplish their application process and reach their international lifestyle goals.
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