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ARTICLE · 26 JUNE 2017

New Thresholds For PR By Independent Means

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A recent change to the Immigration Law has resulted in a significant increase in the qualifying sums for persons seeking to make an application to the Cayman Islands Government for permanent residence by independent means.

Cayman IslandsWealth Management
Nick Dunne
Nick Dunne
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A recent change to the Immigration Law has resulted in a significant increase in the qualifying sums for persons seeking to make an application to the Cayman Islands Government for permanent residence by independent means.

The Immigration (Amendment) (No. 4) Regulations, 2017 ("Amendment No. 4") were gazetted on 26 May 2017, and despite the provisions of Amendment No. 4 not featuring in the Immigration Regulations (2017 Revision) gazetted later, on 31 May 2017, they are now in force and will effect any new persons looking to consider permanent residence by independent means within the islands.

Residential Certificate for Persons of Independent Means

Applicants for a Residential Certificate for Persons of Independent Means must now show that they have invested CI$1,000,000 (or US$1,219,512) in real estate in Grand Cayman, of which CI$500,000 (or US$609,756) must be invested in developed real estate. The previous threshold was CI$500,000 for investment in Grand

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