The Cayman Islands offers several residency options:
This factsheet is confined to the residency certificate for persons of independent means option.
With regards to the Residency Certificate of Independent Means, you must be over the age of 18 and have the financial resources to support yourself without needing to work in the Cayman Islands. You must also have no serious criminal convictions, be in good health and possess adequate health insurance coverage.
As with an application to reside in Grand Cayman, you are required to have an ongoing source of income without needing to work in the Islands. However, the income threshold is lower, and it is currently set at CI$75,000 per annum (US$91,500) or a minimum deposit held in a regulated bank or institution on Island of at least CI$400,000 (US$487,805).
When making your application for a Certificate of Independent Means, you can add your spouse and/or any dependent children to your application. If the certificate is approved, then they will be granted residence in their capacity as your dependent without the right to work.
The benefit of holding a lifetime certificate is that within 5 years of holding the certificate you are allowed to make an application for naturalization as a British Overseas Territory Citizen and ultimately you can apply for the right to be Caymanian. Once you are naturalized as a British Overseas Territory Citizen you are entitled to hold a Cayman Islands passport and be registered as a British Citizen
To qualify for a lifetime certificate, you must meet the criteria for a ‘term’ certificate but your investment in the Islands is increased to a minimum of CI$2,000,000 (US$2,439,024) in developed real estate in the Islands
Again, you must demonstrate that you have sufficient financial resources to maintain yourself and your dependants, however, there is no specific annual income required with this option.