Foreign nationals willing to invest a fairly significant sum of money in a business or property in the Cayman Islands can, after a successful application, gain Permanent Residency with or without the right to work depending on what they apply for.
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There are actually four different types of Permanent Residency for people of independent means, some with very similar names, so the full, official, names of the options are: 1) A Certificate of Direct Investment 2) Residency Certificate (Substantial Business Presence) 3) Residence as a Person of Independent Means 4) Certificates of Permanent Residence for Persons of Independent Means. Here we describe in detail how much you need to invest and what your various options are:
This is the ultimate permission which can grant Permanent Residence with the Right To Work based on investment, rather than having to wait for the usual eight years before becoming eligible to apply, subject to a points system, for Permanent Residency.
For foreign nationals not wishing to work in the Cayman Islands but simply wishing to have the right to reside, there are alternative options. In particular, one can apply to the Director of WORC for a Residency Certificate which is valid for 25 years and is renewable.
Wealthy individuals who are in a position to invest a substantial sum in an employment generating business or businesses in the Cayman Islands, may wish to participate in an incentive scheme intended to attract investors and their dependants.d
Residency Certificate (Substantial Business Presence - for persons of independent means))keyboard_arrow_right
A Residency Certificate (Substantial Business Presence) is available to individuals who either own at least a 10% share in an approved category of business or will be employed in a senior management capacity within such a business. In each case, the business must have a substantial presence in the Cayman Islands.