The Cayman Islands doesn’t directly offer citizenship by investment, but you can get a permanent residency by investment and then extend your permanent residence several times before applying for citizenship. If you are looking for a tax-efficient residence, the residency by investment program of the Cayman Islands is among the best, as the Cayman Islands do not impose any taxes on capital gains, corporation, income, inheritance, or sales. So let us see how you can obtain citizenship by investing in the Cayman Islands.

The Cayman Islands Golden Visa Program

You can gain Permanent Residence in the Cayman Islands by investing a substantial amount of money. It usually takes eight to nine years to get permanent residence in the Cayman Islands. But with a Golden Visa, you can get permanent residency status in a matter of months.

Requirements of the Cayman Islands Golden Visa Program

To be eligible for the Cayman Islands Golden Visa:

• • You must be more than eighteen years of age.
  • You must invest at least $2.5 million in real estate.
  • You do not have a criminal record.
  • You are in good health.
  • You need to have adequate financial resources to support you and your dependents who apply with you.

How to Apply for a Cayman’s Golden Visa

• • Check if you meet all the eligibility requirements for the Golden Visa.
  • Make sure you have the financial resources to make the investment and support yourself and your dependents.
  • Choose a real estate property to invest in. You can avail of the services from a professional agency to help find a suitable property.
  • Assemble all the documents required for applying for the visa.
  • Apply for the visa. You must submit the application for the Golden Visa to the Chief Immigration Officer at the Department of Immigration.

If your application gets approved, you will receive a letter notifying the same. This Golden Visa grants you permanent residence. You will also get the Certificate of Permanent Residence for Persons of Independent Means. This document is proof of your permanent residence status in the Cayman Islands.

The Cayman Permanent Residence only allows you to stay in the Caymans. To work as a permanent resident, you need to apply for a certificate that allows you to seek employment in the Cayman Islands. Do note that you will only get to work in only specific industries and occupations.

Document checklist for Cayman Golden Visa application

• • Birth Certificate
  • Copies of your passport page
  • Cover Letter
  • Filled medical report form available on the official website of the Caymanian government
  • One passport photograph
  • Police Clearance Certificate
  • Proof of financial means
  • Proof of paid fees

How long is the processing time for a Cayman Golden Visa?

Your application can be processed in three months. But if your application has some details or documents missing, it may take longer than three months. 

What if your visa application gets rejected?

If your Cayman Golden Visa application gets rejected, you must appeal to the Caymanian Status and Permanent Residency Board within seven days.

For how long is the visa valid?

The visa is valid as long as you spend at least one day in the Cayman Islands every year. You must pay an additional $120 to get your appeal reviewed.

What are the processing fees for the Golden Visa?

• • Application fee: $600
  • Additional fee for every additional applicant: $1,200
  • Fee for Certificate for Employment: $500
  • Mandatory fee after having your certificate of permanent residence issued: $120,000

How can you get citizenship with a Cayman Golden Visa?

You need to spend five years on the islands without spending more than ninety days at a time away from the islands. You’ll gain British Overseas citizenship after five years. Gaining British Overseas Citizenship doesn’t require you to drop your other nationality.

 

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