(Persons of Independent Means)
The Cayman Islands opens its doors to persons who can afford to live in our beautiful Islands without having to work. If you feel you are eligible for these types of residency certificates and wish to live in paradise, PMC345 Consultancy is here to assist you with your applications.
In this category, an applicant can obtain a 25-year term limit with the potential for a renewal of a further 25 years.
To qualify for this residency option, 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 meet other criteria, such as having no criminal convictions, you must be in good health, and have adequate health insurance coverage.
You must also satisfy the following additional criteria:
- You must invest CI$1,000,000 (equivalent to US$1,219513) into the Islands, of which CI$500,000 (equivalent to CI$609,575) must be in developed real estate in Grand Cayman.
- You must also have an ongoing source of income equivalent to CI$120,000 (US$146,342) per year (without needing to work on the Island) or hold an account with a regulated bank or institution on the Island with a minimum deposit of at least CI$400,000 (US$487,805). This can be held in stocks or cash.
Cayman Brac & Little Cayman
If you prefer to live in one of our other smaller islands, Cayman Brac or Little Cayman, the same requirements apply, however, the financial threshold is lower. You must invest CI$500,000 (US$609,757) of which at least CI$250,000 (US$304,900) must be in developed real estate on the relevant island.
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).
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