Cayman Islands Residency in 2025

You found our guide to Cayman Islands Residency.

Cayman Islands residency is the legal right to live in the Cayman Islands for an extended period, typically granted through government-approved programs based on investment, employment, or personal means.

For example, an individual may obtain Cayman Islands residency by investing CI $2 million in local real estate or by setting up a business within the Special Economic Zone.

The purpose of this residency is to allow qualified individuals to enjoy long-term or permanent residence in the Cayman Islands, often for lifestyle benefits, tax neutrality, business operations, or retirement planning.

Why Choose the Cayman Islands for Residency?

The Cayman Islands offer one of the most attractive residency environments in the world, particularly for individuals seeking to preserve wealth, elevate their lifestyle, and maintain international mobility. With its combination of financial advantages, personal safety, and world-class infrastructure, Cayman stands out as a premier destination for global citizens.

Key benefits include:

• No direct taxes: No personal income, capital gains, inheritance, or corporate tax
• Political and economic stability: British Overseas Territory with strong governance
• Modern infrastructure: High-speed internet, global banking, healthcare, and private schools
• Elite lifestyle: Beaches, boating, gourmet dining, and luxury real estate
• Residency flexibility: Several pathways for passive income earners, investors, business owners, and remote workers

Here is more information on each of these benefits.

1. No Direct Taxes

A major draw is the jurisdiction’s tax neutrality. The Cayman Islands impose no personal income tax, no capital gains tax, no inheritance tax, and no corporate tax on most businesses. This makes it an ideal location for high-net-worth individuals, retirees, and entrepreneurs who want to optimize their financial future without the burden of high taxation. However, you should note that there are costs and fees similar to taxes in Cayman. For example, most imports come with a duty of 22%, with lower tiers for items like electric vehicles and higher for trucks. Converting USD to KYD comes with costs, and buying property has a substantial 7.5 stamp duty, though no ongoing property tax.

Learn about taxation in the Cayman Islands.

2. Political and Economic Stability

In addition to tax advantages, Cayman offers a politically and economically stable environment. As a British Overseas Territory, it benefits from the rule of law, strong legal protections, and reliable governance. This level of stability gives residents peace of mind when investing or settling long-term.

Learn about stability in Cayman.

3. Modern Infrastructure

The islands also feature modern infrastructure that rivals much larger nations. Residents enjoy fast and reliable internet, access to global banking services, quality healthcare facilities, and a selection of highly regarded private and international schools. This makes Cayman not only beautiful but also highly functional for business, education, and everyday living.

Learn about Cayman infrastructure.

4. Elite Lifestyle

Lifestyle is another key factor. The Cayman Islands are known for their pristine beaches, turquoise waters, and year-round sunshine. Boating, scuba diving, fine dining, and luxury real estate are all part of the everyday experience for residents. Whether you’re seeking relaxation or excitement, the islands offer a premium way of life.

Here is a personal account of life in Cayman and one comparing Cayman life to other islands.

5. Residency Flexibility

Finally, Cayman provides a wide range of residency pathways that suit different personal and professional goals. Whether you’re a passive income earner, a real estate investor, a business owner, or a remote worker, there’s a structured and welcoming route to legally reside in the country.

See Cayman immigration for more details.

Types of Residency Programs Available

Here is a table that compares the various paths to residency in the Cayman Islands.

Residency Program	Eligibility	Investment Requirement	Right to Work	Validity	Path to Permanent Residency/Citizenship
Residency Certificate for Persons of Independent Means	High-net-worth individuals with passive income	CI $1M+ (CI $500K+ in real estate) + CI $120K/year income	No	25 years (renewable)	No
Certificate of Permanent Residence for Persons of Independent Means	Investors seeking long-term stay	CI $2M+ in developed real estate	Yes (after variation approval)	Indefinite	Yes (eligible for Caymanian Status)
Certificate of Direct Investment	Entrepreneurs investing in local business	CI $1M+ equity + Caymanian employment	Yes	25 years (renewable)	Possible via long-term residence
Residency Certificate (Substantial Business Presence)	Senior executives or owners of Cayman-based businesses	Substantial local business presence and physical office	Yes	Valid as long as business maintains presence	Not directly, but may lead to long-term options
Special Economic Zone Work Permit	Remote workers, tech/startup founders, global teams	Approx. USD $15K/year (business setup, office, permit)	Yes (within SEZ)	1–5 years (renewable)	No (work permit status)

1. Residency Certificate for Persons of Independent Means

This program is ideal for individuals with substantial passive income who do not plan to work in the Cayman Islands.

Requirements:

• Minimum annual income of CI $120,000 (USD $146,000) from outside Cayman
• Investment of at least CI $1M (USD $1.2M), of which CI $500,000 (USD $610,000) must be in developed real estate
• No right to work in Cayman

Validity: 25 years, renewable

2. Certificate of Permanent Residence for Persons of Independent Means

This certificate offers a permanent residency pathway and the ability to apply for Caymanian Status after eight years.

Requirements:

• Real estate investment of at least CI $2M (USD $2.4M) in developed property
• Must reside in Cayman at least 1 day per year
• Allows for application to vary terms to include the right to work

Benefits:

• Indefinite residency
• Eligible for British Overseas Territories Citizenship and eventually a Caymanian passport

3. Certificate of Direct Investment

This program is designed for individuals investing significantly in a local Cayman business and contributing to the economy.

Requirements:

• Minimum CI $1M (USD $1.2M) equity investment in an active Cayman business
• Must employ a minimum number of Caymanians (typically 4+)
• Active participation in management and control of the business

Validity: 25 years, renewable

4. Residency Certificate (Substantial Business Presence)

Ideal for entrepreneurs and business executives relocating to Cayman as part of a Cayman-registered business.

Requirements:

• Employment in a senior position in a business with a substantial presence in Cayman
• Business must occupy a physical office space locally
• Applicant must reside in Cayman for a minimum of 90 days annually

Benefits:

• Renewable certificate for the duration of the business’s substantial presence
• Right to live and work in Cayman

5. Work Permit via Special Economic Zone (SEZ)

The SEZ program is the fastest way for entrepreneurs, remote workers, and global businesses to set up in Cayman.

Operated by: Cayman Enterprise City (CEC)

Requirements:

• Register a business under CEC’s zones (e.g., Tech, Media, Commodities)
• Lease office space and acquire a work permit through the SEZ

Benefits:

• 5-day expedited setup
• Renewable work permits (1–5 years)
• No local hiring requirement
• Ideal for digital nomads and global teams

Learn more about the Cayman Islands Special Economic Zone.

Financial Requirements for Residency

Securing residency in the Cayman Islands requires meeting specific investment thresholds and paying government fees. Below is an overview of the main costs for each residency program, along with additional expenses you should consider.

1. Residency Certificate for Persons of Independent Means (25-Year Certificate)

• Investment Requirement: CI$1,000,000+ (at least CI$500,000 in developed real estate)
• Income Requirement: Annual income of CI$120,000 or a CI$400,000 deposit in a local institution
• Application Fee: CI$500
• Grant Fee: CI$20,000
• Dependent Fee: CI$1,000 per dependent annually
• Variation Fee: CI$500

2. Certificate of Permanent Residence for Persons of Independent Means

• Investment Requirement: CI$2,000,000 in developed real estate
• Application Fee: CI$500
• Grant Fee: CI$100,000
• Dependent Fee: CI$1,000 per dependent
• Variation Fee: CI$500

3. Certificate of Direct Investment

• Investment Requirement: CI$1,000,000 in a local business that employs Caymanians
• Application Fee: CI$1,000
• Grant Fee: CI$20,000
• Dependent Fee: CI$1,000 per dependent annually
• Variation Fee: CI$500

4. Residency Certificate (Substantial Business Presence)

• Eligibility: 10%+ business ownership or senior executive role in an approved business
• Application Fee: CI$1,000
• Grant Fee: CI$5,000
• Dependent Fee: CI$1,000 per dependent annually
• Variation Fee: CI$500
• Annual Work Permit Fee: From CI$20,925 (if employed)

5. Special Economic Zone (SEZ) Work Permit

• Annual Cost: Starts at USD $15,000 per person
• Includes: Business registration, office lease, work permit fees

As you can see, each of the residency paths has its own costs and considerations.

Additional Costs to Consider

In addition to the direct fees paid to the Cayman government, you can expect other associated costs with your application and residency.

1. Legal & Immigration Consulting Fees

While it’s possible to apply for Cayman Islands residency on your own, most successful applicants choose to work with experienced local professionals. Immigration lawyers and licensed consultants can guide you through complex application requirements, help avoid common mistakes, and ensure your documents are accurate and complete. The cost of these services varies depending on the residency program and the complexity of your personal or business situation. For high-net-worth individuals or corporate applicants, professional fees can range from a few thousand dollars to significantly more—especially when combined with legal structuring, tax advisory, or corporate setup. For a basic setup, you could expect to pay CI$5,000 to a local consulting firm or CI$10,000 to a law firm.

2. Real Estate Costs

For residency programs that require investment in Caymanian property, real estate costs can add substantially to the initial outlay. In addition to the purchase price, buyers should budget for agent commissions—typically between 5% and 7% of the sale price—as well as legal fees for property title checks and contract reviews. One of the most significant one-time expenses is stamp duty, which is charged at a rate of up to 7.5% on most property transactions. These costs are critical to factor in, particularly for those applying under programs like the Permanent Residence Certificate, which mandates a substantial real estate investment. For example, stamp duty on a CI$2,000,000 property is CI$150,000, plus additional fees if you choose to finance your purchase in part with a mortgage.

You can see real estate costs on Cireba or in our database.

3. Health Insurance

Health insurance is a mandatory requirement for all residents of the Cayman Islands, regardless of the residency program selected. Cayman has a high-quality, private healthcare system, but services can be expensive without adequate coverage. Insurance premiums vary widely depending on your age, health status, and the level of coverage you choose. Plans with comprehensive international coverage or lower deductibles will naturally carry higher premiums. For families, this cost can add up quickly and should be included in your long-term budget planning. It’s also important to work with a licensed insurer that meets the Cayman Islands’ regulatory requirements. On average, you could expect your health insurance fees to be CI$200 per month on the low end, and CI$800 or more on the high end.

Planning ahead for both upfront and ongoing expenses ensures a smoother and more sustainable transition to life in the Cayman Islands.

Learn more about health insurance in Cayman including a list of approved providers.

4. Cost of Living

The Cayman Islands offers a luxurious, tax-free lifestyle—but that lifestyle comes at a premium. The cost of living is consistently ranked among the highest in the Caribbean, largely due to the need to import most goods. Essentials such as groceries, utilities, and dining out can be significantly more expensive than in the U.S., Canada, or the U.K. For example, milk may cost CI$6–7 per gallon, and a basic dinner for two can easily exceed CI$100 at a mid-range restaurant. Utility bills for air-conditioned homes also add up quickly, especially during the summer months. Families with children should also factor in the cost of private education, as public schooling is only available to Caymanians. Overall, it’s important to build a realistic monthly budget that reflects local prices, especially for first-time residents used to mainland expenses.

Lean more about the cost of living in Cayman.

5. Importing Personal Belongings

Many new residents choose to ship household goods, furniture, or even vehicles to the Cayman Islands—but importing items can involve more than just shipping fees. While Cayman does not levy import duties on a small number of personal effects brought in by new residents, most goods are subject to customs duties ranging from 20% to 30%, depending on the item category. Shipping containers must be cleared through customs, and hiring a local broker is often necessary to handle documentation, inspections, and delivery logistics. In addition, vehicles must meet local inspection and registration standards, and shipping a car may trigger additional fees. If you’re moving from a country with different voltage standards or driving regulations, it’s often more cost-effective to sell and repurchase items locally rather than import everything. Planning your relocation logistics early will help you avoid unexpected costs and delays.

A very reliable broker with fair prices for importing to Cayman is BeForward.

How to Apply for Cayman Residency

Applying for residency in the Cayman Islands is a step-by-step process:

1. Determine the best residency pathway for your goals and eligibility
2. Engage local professionals – immigration lawyers, real estate agents, or SEZ consultants
3. Gather documentation (proof of income/investment, police clearance, passport, references)
4. Submit application to the Cayman Islands Department of Workforce Opportunities and Residency Cayman (WORC) or relevant authority
5. Await approval – processing times vary but generally range from 3 to 6 months
6. Relocate and register locally once approved

Here are more details on each.

1. Choose the Right Residency Pathway

Applying for residency in the Cayman Islands is a structured process, and choosing the right pathway depends on your personal circumstances, financial goals, and lifestyle preferences. The first step is to determine which residency option best aligns with your situation—whether you’re an investor, entrepreneur, remote worker, or high-net-worth individual seeking a tax-efficient place to live.

2. Engage Local Professionals

Once you’ve identified the most suitable program, it’s highly recommended to engage experienced local professionals. Immigration lawyers, real estate agents, or consultants who specialize in the Special Economic Zone (SEZ) can guide you through the nuances of the application process, help ensure compliance with local regulations, and streamline your experience from start to finish.

Here are a few options for consultants:

• Solomons – friendly, responsive and professional service
• CML – local firm with costs from CI$5,0000+
• Bedell Cristin – Cayman law firm with expertise in immigration and tax law, costs starting at CI$10,000
• Anglin Lewis – another local firm
• Reside Cayman – a boutique agency with a nice website

You can also Google “Cayman Islands residency consultants” for more options.

3. Prepare Required Documentation

With expert support in place, the next step is to gather the necessary documentation. This typically includes proof of income or investment, police clearance certificates, a valid passport, bank references, and sometimes health insurance details. The exact requirements may vary depending on the residency category, so having professional guidance can be crucial to avoid delays or errors.

4. Submit Your Application

Once your documentation is complete, you will submit your application to the Cayman Islands Department of Workforce Opportunities and Residency Cayman (WORC) or the appropriate authority overseeing your specific program. The processing timeline can vary, but most applications are reviewed and decided upon within three to six months.

You will submit your application via the WORC online services portal or in-person at Apollo House West, 87 Mary Street, George Town, Grand Cayman.

5. Finalize Your Move

After receiving approval, you can proceed with your relocation. This involves registering locally, securing a residence, and integrating into the Cayman Islands community. With your residency granted, you’ll be able to enjoy all the benefits of living in one of the world’s most desirable island jurisdictions.

Living in the Cayman Islands as a Resident

Once your residency is approved, settling into life in the Cayman Islands is typically a smooth and rewarding experience. The islands offer a high standard of living, with modern amenities and a welcoming international community that make it easy for newcomers to feel at home.

• Housing: High-end condos, beachfront villas, and gated communities
• Healthcare: Excellent private clinics and access to U.S.-standard care
• Education: International schools with U.K. and U.S. curriculums
• Community: Vibrant expat community, networking events, and business associations
• Leisure: Boating, diving, golf, and cultural festivals year-round

Here are more details about living in the Cayman Islands.

1. Housing

Housing options range from luxurious beachfront villas and high-rise condominiums to gated communities with full-service amenities. Whether you’re looking for a property with ocean views, proximity to top restaurants and shopping, or privacy and seclusion, there are plenty of choices to suit your lifestyle and investment goals.

2. Healthcare

Healthcare in the Cayman Islands is top-tier, with well-equipped private clinics and hospitals that provide services to international standards. Many facilities have U.S.-trained doctors and offer advanced diagnostics, outpatient surgery, and emergency care. Health insurance is a requirement for all residents, and international coverage options are widely available.

The largest full-service hospital in Cayman is Doctors Hospital, and a popular option for urgent care is Doctors Express.

3. Education

Education is another strength, particularly for families relocating with children. The islands are home to a number of private international schools that offer British, American, and International Baccalaureate (IB) curricula. These institutions are known for small class sizes, high academic performance, and extracurricular opportunities in sports, arts, and STEM.

4. Community

The community in Cayman is diverse and inclusive, with a large population of expats from North America, Europe, and around the Caribbean. Business associations, charitable organizations, and social clubs provide numerous ways to connect, network, and contribute to local life. New residents often find it easy to integrate, thanks to the friendly, English-speaking culture and professional atmosphere.

The Women in Cayman Facebook group is a great starting point to meet people.

5. Leisure

Finally, leisure and lifestyle are integral to the Cayman experience. Residents enjoy year-round sunshine and access to world-class recreational activities including scuba diving on coral reefs, boating and fishing, golfing, yoga on the beach, and attending vibrant cultural festivals. From quiet relaxation to active adventures, the Cayman Islands offer an exceptional quality of life for those who choose to call them home.

See our list of things to do in Cayman.

Common Mistakes People Make When Moving to the Cayman Islands

Relocating to the Cayman Islands can be a life-changing experience—but like any international move, it comes with its own set of challenges. Being aware of common pitfalls can help you make a smooth and successful transition to island life. Here are some of the most frequent mistakes people make when moving to Cayman—and how to avoid them.

1. Underestimating the Cost of Living

While the Cayman Islands are tax-free, that doesn’t mean they’re cheap. The cost of living—particularly for housing, utilities, and imported goods—is significantly higher than in many other countries. Many new residents overlook the premium pricing on groceries, dining out, and private schooling. Budgeting realistically for island life is essential, especially if you’re moving without employment income.

2. Choosing the Wrong Residency Path

There are several residency pathways in Cayman, each with specific eligibility criteria and long-term implications. A common mistake is selecting a residency program that doesn’t align with one’s financial situation or lifestyle goals. For example, applying for the Residency Certificate for Persons of Independent Means without realizing it doesn’t grant the right to work. Always consult with a qualified immigration advisor before applying.

3. Failing to Do Property Due Diligence

Cayman’s real estate market is attractive—but it’s also complex. Newcomers sometimes rush into property purchases without understanding local regulations, strata fees, or title status. Others rely solely on listings without using a reputable agent. Make sure to engage a local real estate attorney and inspect properties thoroughly before committing to a purchase.

4. Neglecting Health Insurance Requirements

Health insurance is mandatory for all residents in the Cayman Islands, yet some newcomers assume their international coverage will suffice or forget to arrange local insurance before arrival. This can lead to compliance issues and limited access to medical services. It’s crucial to secure a policy that meets local regulatory requirements and covers both emergency and routine care.

5. Assuming Island Life is Always Relaxing

Yes, Cayman offers a beautiful, sunny lifestyle—but it’s still real life. Newcomers sometimes arrive expecting a permanent vacation and are unprepared for the everyday realities: driving on the left, hurricane season, bureaucratic processes, and a slower pace of service. Adjusting expectations and embracing the local rhythm will lead to a much more satisfying experience.

6. Not Integrating with the Local Community

Some expats stick too closely to international or corporate circles and miss out on the rich cultural fabric of Caymanian life. Engaging with the local community—through volunteer work, cultural events, or supporting local businesses—not only enhances your experience but also builds goodwill and lasting relationships.

7. Overlooking Long-Term Planning

Finally, many people move to Cayman with a short-term mindset, only to fall in love with the place and decide to stay. Failing to plan for long-term residency, schooling for children, or business scalability can create unnecessary complications down the road. Thinking ahead about residency renewals, real estate investments, or even succession planning is key.

Final Thoughts: Is Cayman Islands Residency Right for You?

Whether you’re seeking a better lifestyle, greater tax efficiency, or a launchpad for international business, the Cayman Islands presents a unique and compelling residency opportunity. It’s one of the few places in the world that offers no direct taxes, a stable political and legal system, first-world infrastructure, and a luxury island lifestyle—all within a few hours of major U.S. cities.

For investors, entrepreneurs, retirees, and remote professionals alike, the Cayman Islands offers multiple pathways to residency tailored to different needs and goals. From permanent residence via real estate investment to flexible work permits through the Special Economic Zone, there’s a program to suit a wide range of financial and professional profiles.

Beyond the technical benefits, choosing to live in Cayman means joining a thriving and welcoming community. You’ll find top-tier education and healthcare, a vibrant cultural scene, and endless opportunities for networking, leisure, and personal growth. Whether you’re raising a family, expanding a company, or simply seeking a more fulfilling way of life, the Cayman Islands can provide the foundation for a successful and rewarding future.

That said, relocating to a new country—especially one with unique legal and immigration frameworks—requires careful planning and due diligence. Engaging a qualified local expert is not only the smartest way to navigate the application process but also a valuable investment in your peace of mind. Professionals on the ground can help ensure your transition is smooth, your paperwork is in order, and your financial and legal interests are fully protected.

If you’re serious about making the move, now is the perfect time to explore your options and start your journey toward residency in the Cayman Islands. With the right guidance and preparation, your vision of island living can become a reality.

Additional Resources and Citations

In addition to personal experience and research, we referenced the following resources to write this guide.

• Immiration (Transition) Act – the governing legislation for immigration to the Cayman Islands
• Permanent Residence in the Cayman Islands – a guide to permanent residency by Cayman Resident, which a popular locally operated media site
• Securing Cayman Residency via Independent Means or Direct Investment – a guide to investment based options by Ogier, which is a local law firm
• Work Permit & Permanent Residency FAQ – an FAQ by WORC, Cayman’s government immigration department
• Life in Cayman – a guide to life in Cayman, provided by the government

And additional resources too.