Cayman Islands Residency By Investment 2020GoldenVisasAdmin2020-07-27T19:46:05+00:00
Cayman Islands Residency By Investment 2020
Looking to gain second residency in a safe, stable and tax neutral location? The Cayman Islands Investment Residency Program offers high net worth investors and their families the ability to gain second residency and a path to eventual UK citizenship via two relatively unknown residency programs. Often referred to as the “Monaco of the Caribbean,” Cayman Islands has a lot to offer the investment migrant.
Find out more about the Cayman Islands RBI program below, or contact us now for more information.
The Cayman Islands RBI is ideal for high net worth individuals seeking a sanctuary from the rat race in a sun-drenched Caribbean location. The program has two primary streams, being the:
Cayman Islands Investment Certificate for Persons of Independent Means
Cayman Islands Permanent Residence Certificate for Persons of Independent Means.
Cayman Islands Investment Certificate Program
By making a minimum eligible investment of US $1.2 million, applicants can obtain an investment certificate with a 25 year validity, enabling them to reside in the Cayman Islands without the right to local employment. Half of this investment amount (US $600,000) must be made in completed residential real estate.
In addition, applicants must be able to prove a recurring annual income of at least US $145,000, or, alternatively, they must open a Cayman Islands bank account and maintain a deposit of no less than US $480,000. This option requires the applicant to spend a minimum of 30 days per year in-country.
Cayman Islands Permanent Residency (PR) Certificate Program
In order to qualify for Cayman Islands permanent residency, applicants must invest a minimum of US $2.4 million in completed real estate. This program does not offer the right to work as a standard benefit, however the applicant and their spouse have the option to apply for an additional endorsement to their certificate, enabling them to obtain gainful employment.
While this program has no minimum income requirement, applicants will be required to prove that they have sufficient means to support themselves and any dependent family members.
This program path has no expiry date, and offers applicants a path to naturalization as a British Overseas Territories Citizen (Cayman Islands) and gain said passport once the residency holder has been ordinarily and legally resident in the country for a minimum period of 5 years. Holding this status will enable the applicant to apply for full British citizenship and a UK passport – without having to relinquish any existing citizenships.
As an added benefit, the minimum in-country stay requirement for this program stream is only 1 day per year.
Why choose the Cayman Islands Permanent Residency Program?
NO DIRECT TAXATION: Cayman Islands charges no income, corporate, capital gain, wealth inheritance sale or value-added taxes, nor any recurring real estate taxes, making it a highly attractive destination for high net worth individuals (HNWIs) seeking to preserve their wealth offshore.
PATH TO UK CITIZENSHIP: Unlike as is the case with many of its prominent Caribbean neighbour states, there is no Cayman Islands Citizenship by Investment Program, however this permanent residency program does offer a proven path to acquire eventual British citizenship and a UK passport.
EXCELLENT HEALTHCARE: Boasting 4 state of the art hospitals and a ratio of at least 4 doctors per 1,000 residents, as well as over 1,000 healthcare professionals for a population of 65,000, Cayman Islands scores highly in terms of its healthcare offering. Please note that medical insurance is mandatory for all residents.
MODERN INFRASTRUCTURE: Cayman Islands boast a highly developed developed infrastructure, offering reliable utilities, high speed internet and affordable telecommunications services, making it an ideal location for remote work. Quality FMCG products and world class consumer service levels complete the picture for a highly livable second home location.
FLEXIBLE REAL ESTATE OPTIONS: Unlike with many other RBI and CBI destinations, investors in Cayman Islands are not required to invest in government approved real estate projects. As long as a particular property meets the minimum investment threshold, it can be acquired to serve as the basis for a Cayman residency application. In addition, there are no limitations or restrictions on foreign land ownership.
WORLD CLASS EDUCATION: Cayman Islands offers excellent British and American school curriculums, wit IB programs available. The country also boasts tertiary institutions offering medicine, law and undergraduate level courses.
DIVERSIFIED ECONOMY: In addition to many other island nations offering CIPs, around 80% of the country’s GDP is delivered by the financial services sector, making it less vulnerable to natural disaster and other black swan events. By as early as 2017, a whopping 65,000 companies were incorporated in Cayman Islands.
LOW POPULATION DENSITY: The country appeals to those seeking an unparalleled level of privacy, offering one of the lowest population densities in the world.
LOW CRIME RATE: The Cayman Islands have one of the lowest crime rates in the Caribbean and the world, making for carefree living in a paradise location.
QUALITY OF LIFE: Cayman Islands boasts one of the highest standards of living in the world, making it an excellent second home location for high net worth individuals from the world over.
LOW MINIMUM STAY REQUIREMENTS: A stay of only 1 day per year is the required to earn Cayman Islands residency status, making it highly attractive as a Plan B destination.
BRITISH OVERSEAS TERRITORY: The United Kingdom is responsible for Cayman Islands’ internal security and defence, and also conducts economic oversight and provides aid during the event of natural disaster occurring.
STABLE GOVERNANCE & LOW SOVEREIGN DEBT: Unlike many other Caribbean CIP countries, Cayman Islands has surpassed its budget surplus targets for the past 4 years running, and maintains an A-3 credit rating from Moody’s.