H O W TO O B TA I N RESIDENCY IN THE CAYMAN ISL ANDS
FREQUENTLY ASKED QUESTIONS
1.
OPTION 1: Apply for a 25 year renewable residency certificate.
Apply for the right to permanently reside.
This certificate is issued to an applicant (and immediate family including children under the age of 18) granting the family the right to reside but not the right to work in the Cayman Islands.
show a minimum investment of at least CI$1,600,000 (approximately US$1,952,000)* in developed real estate (it can be several different properties). The cost of this certificate is CI$100,000 (approximately US$121,955)* per family with an additional fee of US$1,220* per dependent at the time it is granted.
In order to obtain this certificate, an applicant must have invested at least CI$1,000,000 (approximately US$1,220,000)* in the Cayman Islands of which a minimum of CI$500,000 (approximately US$610,000)* must be in developed real estate. The “remaining” CI$500,000 (approximately US$610,000)* must be invested in a company or property in the Cayman Islands. The cost of the 25 year certi cate is US$24,400* payable upon grant and an additional fee of US$1,220* per dependent. In order to maintain the certi cate, an investor must maintain his/her investment and reside in the Cayman Islands for at least 30 days in every 12 month period. The 30 days need not be consecutive. *Please note these are price approximations and may be subject to change. We recommend seeking legal advice on all matters relating to residency. For full documentation required and legal recommendations, please visit our website.
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OPTION 2:
Similarly to Option 1, the applicant must
Yes - the Cayman Islands Dollar which is
residence now. Local bank financing options
pegged to the US Dollar at a fixed rate of 0.82.
have been arranged for qualified buyers and
The US Dollar is also widely accepted in the
would require a 10% initial deposit followed
Islands. 7.
hold a visa which is easily obtained and valid for three months.
late 2019.
8.
What is the average temperature? Temperatures
Can I customize my residence?
range
from
85F/29C
to
92F/33C, with 80% relative humidity and
While Rum Point Club Residences have 12
water temperature ranges from 79F/26C in
unique floor plans to chose from, further
the Winter to 90F/32C in the Summer.
customization options are available. Please contact us to discuss your requirements. Do I need to visit the Islands to purchase a residence? No.
5.
Do I need a visa to visit? Visitors from certain countries are required to
When will the construction of the residences
We expect the residences to be completed in
if the holder complies with the necessary criteria. *Please note these are price approximations and may be subject to change. We recommend seeking legal advice on all matters relating to residency. For full documentation required and legal recommendations, please visit our website.
A deposit of 10% is required to secure a
be completed?
4.
Do the Cayman Islands use their own currency?
first year of construction. 2.
6.
residence now?
by an additional 25% to be paid during the
3.
The main difference between the two certi cates is that with Option 2 the applicant obtains the right to permanently reside in the Cayman Islands and such right can be varied to include the right to work. It can also entitle the holder after ve years to apply for naturalization under the British Nationality Act as a British Overseas Territories Citizen
What level of deposit is required to secure a
The
9.
What is the most popular attraction or activity in the Cayman Islands? Swimming
with
the
stingrays
at
world
famous Stingray City is only a short boat ride transaction
can
be
completed
from Rum Point Club Residences. Cayman’s
remotely provided we receive the necessary
marine parks and unparalleled dive sites truly
documentation.
set it apart from other Caribbean destinations.
Are there any taxes in the Cayman Islands?
10. How do I travel to the Cayman Islands by air?
While there is no direct taxation on individuals
There are over 100 direct weekly flights from
or companies, there is a one time stamp duty
16 major markets including: London (with
tax payable on the purchase of property
British Airways), Miami, New York, Houston,
which is approximately 7.5% of the purchase
Chicago, Toronto, Atlanta, Charlotte and Fort
price. There are no sales taxes or income taxes
Lauderdale (with American Airlines, Delta,
and many items are also duty free.
Southwest Airlines and Cayman Airways).
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