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
Y-Axis offers a wide range of visa and immigration services as well as products to the aspiring overseas immigrants including Y-International Resume 0-5 yrs, Y-International Resume (Senior Level) 5+ yrs, Y Jobs, Y-Path, Resume Marketing Services One State and One Country.
If you are looking to Study, Work, Visit, Invest or Migrate Overseas, talk to Y-Axis, the World’s No.1 Immigration & Visa Company.
If you found this blog engaging, you may also like…
IMMIGRATION CAUSE OF CAYMAN ISLAND’S SUCCESS, STATES PREMIER