The Cayman Islands have no restrictions on foreign ownership of property and there are numerous avenues to enter the islands either as a visitor, on a visa, or even to become a resident.
Here are some of the available options.
Global Citizen Certificate
Relatively recently, the Cayman Islands launched a “Global Citizen Programme,” enabling certain individuals to apply to acquire a “Global Citizen Certificate.”
This certificate would allow certain individuals, even those that are employed outside of the Cayman Islands but who work remotely, to travel to and reside in the Cayman Islands for a period of up to 24 months.
This is a simple and cost-effective way to relocate to the Cayman Islands for an extended period of time and turnaround periods on applications are only expected to take a matter of days.
Work Permits
The Cayman Islands also issues both full and temporary work permits to certain qualifying individuals, although the process is a bit slower.
There are temporary work permits and some select exemptions, but as a general rule, the standard term limit of a work permit is 9 years – after that point, permit holders must either leave or apply to become permanent residents.
Permanent Residence
After living in the Cayman Islands for 8 years, individuals can apply for permanent residency. Permanent residency can also be acquired by spouses or children of Caymanians, as well as accompanying certain substantial investments in a Caymanian business or property.
Permanent residents that are not married to Caymanians may want to apply for British Overseas Territory Citizenship so they can become naturalized Caymanians.
Those who are interested in becoming naturalized citizens of the Cayman Islands should take note: the number of days you have been off the islands during the previous one-year period (or, if applicable, five-year period) will impact your eligibility.
Contact a consular agency in the Cayman Islands for additional details.
Right to Be Caymanian
The Right to Be Caymanian is another avenue to residency. Individuals who are children of Caymanians can apply for this or those that have been married to a Caymanian for a period of 7 years.
For Prospective Buyers: Cayman Islands Property for Sale
For some individuals, the path to Caymanian residency will start with a search for Cayman Islands property for sale.
The Cayman Islands levy no restrictions on foreign ownership of property and the islands even have exemptions to allow new residents to import certain personal belongings duty-free during the move.
Moreover, there are a wealth of investment opportunities in Cayman Islands real estate in the form of houses, condos, and even property for sale.
For those looking at buying and who are interested in Cayman Islands property for sale, the help of an experienced member of CIREBA like Crighton Properties can make the experience all the more enjoyable.
For more information on homes for sale in the Cayman Islands or to investigate active listings, visit their website, CrightonProperties.com, or contact them at 345-949-5250.
