The Cayman Islands is an overseas territory of the British comprising of 3 islands in the west Caribbean Sea. Permanent Residency of the Cayman Islands can be acquired in two ways:
- Based on 8 years residence
Any person who has been a legal resident of the Cayman Islands for at least 8 years but no more than 9 years may be eligible for Permanent Residence. They can also apply for a Permanent Residence for their spouse and dependent children. The following people are exempt to apply under this category:
- Holder of a Residence Certificate for People of Independent Means
- Holder of a Residence Certificate for Retired People
- Holder of a Certificate of Direct Investment or their dependents
- Dependents of Residence Certificate Holders
- Holder of a Certificate of Permanent Residency for people of Independent Means
- Any person who had been granted Permanent Residence previously under any circumstance
- As a person of independent means
What is the cost of a Permanent Residency application?
Applicants must pay a filing fee of CI $1,000 at the time of application. This fee is non-refundable. The fee for dependents is CI $400 per dependent, as per WORC. The Issue Fees is as below: $0 to $20,000 per year : $500 Between $20,001 and $40,000 per year: $1,250 Between $40,001 and $60,000 per year: $2,500 Between $60,001 and $80,000 per year: $3,750 Between $80,001 and $100,000 per year: $5,000 Between $100,001 and $150,000 per year: $9,000 $150,001 and above per year: $12,500
How are Permanent Residency applications assessed?
Permanent Residency applications are assessed on a points system.
Points are awarded based on the following 9 factors:
- Occupation
- Qualification, Work Experience and Training
- Investments in the Cayman Islands
- Financial stability
- Integration into the Caymanian community
- Having a close connection to the Cayman Islands
- Cultural Diversity and Demographics
- Age distribution
- Deductible component
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