The Cayman Islands is a popular location for high net worth individuals to obtain residency. With no personal income tax or capital gains tax, a tropical climate, and a high standard of living, it offers an attractive option for residency by investment. This article will provide an overview of the key benefits and requirements to obtain Cayman Islands residency through investment.
Tax benefits are main appeal of Cayman Islands residency program
The main appeal of the Cayman Islands residency by investment program is the tax benefits. The islands have no personal income tax, capital gains tax, inheritance tax, or wealth tax. For high net worth individuals with substantial assets and investments, this can provide major tax savings compared to most countries.
Program options include real estate purchase or contribution
There are a few options to obtain residency by investment in the Cayman Islands. The main routes are by purchasing real estate valued at over $1.2 million KYD, or making a one-time contribution of $1.2 million KYD to the government. For high net worth individuals, investing in Cayman Islands real estate or contributing funds can be attractive to gain residency rights.
Application process relatively straightforward but requirements apply
The process of applying for Cayman Islands residency by investment is generally considered straightforward relative to other investment migration programs globally. However applicants must provide police clearance reports, medical checks, and proof of funds. Requirements are stricter for residency compared to merely operating a business in the Cayman Islands.
Residency by investment a growing trend for global HNWIs
Programs offering residency or citizenship rights in exchange for capital investment have proliferated globally over the past decade. Countries as diverse as the UK, Australia, Thailand, Portugal, Malta and many Caribbean islands offer options. For global high net worth individuals seeking security, mobility, lifestyle and tax optimization benefits, investment migration is an increasingly popular solution being utilized.
The Cayman Islands offers a straightforward residency by investment program, with unique benefits around tax optimization, lifestyle, and security. By investing over $1.2 million USD into Cayman Islands real estate or government fund, applicants can gain residency rights while benefitting from no income, capital gains, inheritance or wealth taxes.