The Cayman Islands offers Permanent Residence permit for persons of Independent Means through four different categories.
The investment options of Cayman Islands Investor Immigration are:
- Residency Certificate for Persons of Independent Means
- Certificate of Direct Investment
- Certificate of Permanent Residence for Persons of Independent Means
- Residency Certificate (Substantial Business Presence)
Each investment option has its own independent requirements with certain aspects like documentation and obligations of applicants pending approval of the Certificate being common for all the options.
Documentation Required for all the Certificates
- Cover letter
- Evidence of payment of fees
- Certified copy of the picture page of Passport
- Police Clearance Certificate from home state or place of last residence of self and accompany dependents above the age of 18 years. The certificate should not be dated later than six months prior to the date of the application. The certificate must be signed and bear the seal of the issuing authority.
- Two photographs.
- Medical Questionnaire completed by investor, spouse, and all dependents over the age of 18 years along with original lab reports showing results of HIV/VDRL tests dated not later six months prior to the date of the application.
- Evidence of Financial Standing indicated by the following documents:
- Financial statement(s) prepared by:
- an accounting company either licensed in the Cayman Islands or
- outside the Cayman Islands provided proof of good standing of the latter company with the relevant Accounting State Board is confirmed, or
- an internationally recognized bank or securities company, or,
- any bank licensed in the Cayman Islands.
- Bank reference letters showing balances in local and oversea bank accounts.
- Proof of an annual income of CI $120,000.
- Financial statement(s) prepared by:
- Evidence of Local Investment with notarized copies of:
- Land Transfer Certificates and extracts from the Land Register indicating the developed real estate purchased by the investor in the Cayman Islands.
- Proof of all other investments in the Islands including share certificates
- Saving accounts and short-term fixed deposits of tenure of less than a year are NOT considered as investments for the purpose of Permanent Residence application.
- Proof of ownership of mandatory 10% shares in an approved business category, if applicable
- Proof of purchase or lease of commercial real estate for substantial business presence, if applicable.
- Proof of employment of at least four individuals who are legal and ordinary residents for a minimum of 9 months in a calendar year as full-time employees, if applicable.
- Evidence of proposal requiring the investor to be legally and ordinarily resident for 90 days in a calendar year, if applicable.
- Where the Trade & Business or other applicable licence has expired, a copy of the receipt of payment for the renewal
- Three written references from persons who have known the investor for at least three years. The referrers should not be relatives or spouse of the applicant. The reference must be submitted directly to the Officer and should bear the name of the applicant. The envelope must be sealed with the sign of the referrer across the seal. No application will be processed until the references are submitted.
- Proof of adequate Health Insurance for the applicant and dependents.
- Confirmation of acceptance and/or attendance of child from the private school or university. If the child is aged above 18 years, then the letter must be submitted annually.
- Proof of marriage in the form of a notarized copy of the marriage certificate.
- Notarized copies of birth certificates of children included as dependents in the application.
- Copy of Trade and Business License if the same is relevant to the application.
Fees: Cayman Islands Investor Immigration
|Application fee||Issue fee||Issue fee per dependant||Annual fee per dependant||Annual fee||Application for a variation|
|Residency Certificate for Persons of Independent Means||CI$ 500||CI$ 20,000||CI$ 1,000||NIL||Annual fee equivalent to fee payable by a person authorized by a work permit under section 48 in the same occupation||CI$ 500|
|Certificate of Direct Investment||CI$ 1,000||CI$ 20,000||CI$ 1,000||CI$ 1,000||An annual fee equivalent to that payable by a person authorized by a work permit under section 48 in the same occupation||CI$ 500|
|Certificate of Permanent Residency for Persons of Independent Means||CI$ 500||CI$ 100,000||CI$ 1,000||NIL||An annual fee equivalent to that payable by a person authorized by a work permit holder in the same occupation||CI$ 500|
|Certificate of Permanent Residency (Substantial Business Presence)||CI$ 1,000||CI$ 5,000||CI$ 1,000||NIL||An annual fee equivalent to that payable by a person authorized by a work permit holder in the same occupation||CI$ 500|
General grounds for Revocation as per Section 38 of the Immigration Law
- Investor organizes or engages in subversive political activity or in causes that promote racism within the Islands.
- Submission of false material information or concealment of a material fact.
- Conviction of an offence against the laws of the Islands.
- Conviction of an offence under the law of another country with the nature of offence being such that the continued presence of the investor in the Islands would be harmful to public interest.
- Mentally disorder or mentally defective as defined by relevant Cayman laws.
- Medically certified as suffering from a communicable disease leading to harm or danger to the Cayman Islands community;
- Reasonably believed to be a prostitute and reasonably believed to have come for purposes of prostitution.
- Reasonably believed to be living on or to be receiving proceeds of prostitution.
- Failure of maintenance of mandatory financial investments specified in the Permanent Residence application.
- Deemed by the Governor to be an undesirable inhabitant.
- Being a continuous ordinary resident outside the Islands for a period of one year or more.
Appeal against refusal of Permanent Residence application
The applicant can appeal against the rejection of the Chief Immigration Officer or the Caymanian Status & Permanent Residency Board to the Immigration Appeals Tribunal. The appeal should be filed within twenty-eight days of the communication of the decision. The fee for the appeal is CI$1,000 and the appeal can be lodged on grounds of:
- Being erroneous in law;
- Being unreasonable;
- Rejection being contrary to principles of natural justice; or
- Rejection being at variance with Immigration Regulations
Obligation of Applicant pending the outcome of the Permanent Residence Application
The applicant is bound to provide written information about changes to the application while awaiting the decision of the Board or Chief Immigration Officer in relation to the following points:
- Conviction for any offence,
- Unemployment of the applicant
- Applicant being charged with an offence
- Loss of assets listed in the application
- Change in marital status or relationship with dependants.
- Dissolution of marriage within 30 days of dissolution.
- Death of spouse.