How to Move to the Cayman Islands – The 7th Heaven Properties Guide
Have you been thinking about making a move to the Caribbean? Do you find you can’t quite shake the idea of enjoying an idyllic island lifestyle every day? We put together this guide for anyone wondering how to move to the Cayman Islands.
One of the most sought-after destinations in the Caribbean, moving to the Cayman Islands is a dream for many. But, how can you actually make the move?
This guide will take you through everything you need to know from why to choose the Cayman Islands to how to move and the best places to live.
Relocating – Is the Cayman Islands a Good Place to Live?
Visas & Residency – Can I Move to the Cayman Islands?
Global Citizen Concierge Programme (GCCP)
Finding a Place to Live in the Cayman Islands – Where are the Best Places to Buy Property?
Find Out More About Moving to the Cayman Islands
Mention the Cayman Islands to most people and 3 things tend to spring to mind: freedom from direct taxation, outstanding beaches and world-class diving. All these are certainly true. The beaches (such as Seven Mile Beach on Grand Cayman) are truly spectacular, the reefs and wrecks off the islands’ coasts are ideal for underwater adventures and the Cayman Islands lack of taxes on income, property and capital gains are certainly alluring.
However, there is far more to this trio of islands that make it such a great place to live. The climate is great, crime is low and the standard of living is high. The Cayman Islands is one of the most diverse and cosmopolitan destinations in the region. As such there is plenty to entertain you whether you prefer to spend your time unwinding on the beach, frolicking on (or under) the water, roaming the golf course, shopping till you drop or wining and dining.
As a British Overseas Territory with a prosperous economy, the archipelago offers good quality healthcare, social, political and economic stability and, as you would expect from a world-class destination, real estate built to very high standards.
All in all, the Cayman Islands is a wonderful place to live.
Find out more in our guide to investing in the Cayman Islands.
To move to the Cayman Islands, you will need to apply for a student visa, a work permit or a Certificate of Residency for Persons of Independent Means.
Our focus is primarily on the latter option.
A Certificate of Residency for Persons of Independent Means is valid for a period of 25 years and is renewable.
To qualify an individual must be aged over 18 years of age, have no need to work in the Cayman Islands, be able to demonstrate the ability to support himself or herself financially and make a significant investment in real estate in the territory.
For full details on the criteria to qualify for a Certificate of Residency for Persons of Independent Means, read the full details here: Residency in the Cayman Islands
A new way to enable high net worth foreign professionals to move to the Cayman Islands is currently in the final stages of development.
The Ministry of District Administration, Tourism and Transport initiative is currently developing a Global Citizen Concierge Programme (GCCP) which would allow eligible professionals and their families who can fully support themselves while in the territory to enjoy a longer stay in the Cayman Islands.
In contrast to citizenship and permanent residency programs in operation elsewhere, the GCCP is aimed at professionals looking to enjoy life in the Cayman Islands for an extended period while working remotely and generating income from overseas.
Applicants will need to meet a minimum income requirement which is expected to be: US $100,000 for individuals, US $150,000 for couples and US $180,000 for families.
Applicants will also need to cover the cost of the Global Citizen Concierge Certificate Fee which amounts to US $1,469 per annum for 2 people (plus US $500 for each additional dependent).
The main applicant will be able to include dependents in the application and all accompanying family members are required to have health insurance that is valid in the Cayman Islands.
Those approved for the programme must either rent or buy a property before arriving in the Cayman Islands and will be required to quarantine for a period of 14 days.
The Cayman Islands is a beautiful destination and there are fantastic places to live across the islands.
Traditionally, the most sought after location is the Seven Mile Beach Corridor on Grand Cayman, the most populous of the three islands which make up the Cayman Islands. The area offers some of the best restaurants, shopping and entertainment in the Cayman Islands. Buyers will discover luxurious apartments along the 5.5 mile white sand beach as well as lovely houses and lavish estates within prestigious residential communities within walking distance of the beach.
The area of West Bay north of Seven Mile Beach is the setting for some wonderful oceanfront and canal-front homes just a short distance from the world-famous beach.
For buyers in search of beachfront homes for sale in Grand Cayman away from the buzz of Seven Mile Beach, take a look at quiet, tranquil areas such as Rum Point in North Side and East End.
For families, the South Sound area near the capital George Town is a great choice.
For buyers looking for truly get away from it all, check out Grand Cayman’s smaller sister islands Little Cayman and Cayman Brac – perfect for a laidback island lifestyle.
Would you like to find out more about moving to the Cayman Islands? Would you like to browse property for sale which would be ideal for living in this coveted destination?
We would be delighted to help. Explore Cayman Islands real estate on our website.
Alternatively, contact 7th Heaven Properties, the Luxury Caribbean Property Specialist, to begin your property search and to discuss your options in more detail.