Every year, the Cayman Islands welcomes hundreds of newcomers from all parts of the globe who anticipate making Cayman their home, either temporarily or permanently. Some come to work, some to retire, and some to settle as “Global Citizens,” using the Cayman Islands as their base while they conduct business remotely. With a tropical climate, beautiful beaches, world-class diving and tax-neutral status, Cayman has long been sought after as a desirable place to live. Cayman offers a high standard of living with excellent sports facilities and a range of restaurants and other amenities that would normally only be found in a country with a far larger population. While Grand Cayman offers five-star accommodations and living standards, the Sister Islands (Cayman Brac and Little Cayman) offer newcomers a truly relaxing environment where life proceeds at a more leisurely place – here the old description, “the islands time forgot,” still holds true.

Residency Requirements for Persons of Independent Means, Business Owners and Investors

“We are witnessing a huge growth in interest from people looking to make the Cayman Islands their home and we are seeing more and more enquiries into the options available to do so. The good news is that it is possible to secure permanent residency in the Cayman Islands by investing in property. To help with an initial overview, we have provided the guide below into the basic requirements offered by the Cayman Islands Government.” – Nick Hemus, Priestleys

Employment

Persons hoping to obtain employment in the Cayman Islands must generally have obtained a job offer and work permit before arrival. Spouses and dependents are considered by the Immigration Board as part of the work permit and are generally allowed to accompany the work permit holder. They may have the opportunity to seek work after arrival, but the Cayman Islands Government understandably takes measures to ensure that Caymanians are employed first. That said, thousands of work permits are issued annually to fill local vacancies.

Cost of Living

Almost everything in the Cayman Islands, including many grocery items, is imported – mainly from the United States or the United Kingdom. While there is no direct income tax in the Cayman Islands, there is a 20 percent import duty on everything coming in from overseas. This means that the cost of living in Cayman is extremely high. Employers are well aware of this and salaries also tend to be generous to compensate but it is up to each individual to ensure they have a realistic budget for expenses and that their salary will cover these. 

Start-up Costs

On arrival, the following start-up costs should be budgeted for:

• Two months’ rent – a full month’s rent as a deposit, refundable at the end of the tenancy, depending on the condition of the residence, and the first month’s rent
• Utilities: set-up fees and deposits required for water, electricity, and gas 
• Services: phone, internet, cable TV – with deposits
• Car purchase, car insurance, and driver’s licence (plus, in all likelihood, car rental on arrival to use as you locate both a car to purchase and a suitable property to rent – public transport in the Cayman Islands is not widespread and taxis are quite expensive)
• Groceries and other household items – most rental properties in Cayman come fully furnished, including TVs; most also include linens
• School fees – those travelling with school-aged children should budget for the first term’s school fees in one of the island’s excellent private schools along with uniforms and sports kit

Clothing

Outside of the workplace, casual/resort attire is fine, though shirts and shoes are expected in stores and restaurants, and beach attire is only considered acceptable in beach and resort areas. The climate is very warm year-round and ‘winter’ clothes will not be needed, though a lightweight rain jacket is useful in the rainy season and light sweaters are often needed in air-conditioned interiors. Those working in business/professional environments will generally find that the dress code is a shirt and tie for men, and a skirt/pants with a smart top, or dress for women. Social events tend to be smart casual.

Shipping/Importing

Those entering the Cayman Islands for at least twelve months are allowed to bring a reasonable quantity of used household goods with them, duty free. These goods can be in accompanied baggage or can be forwarded through a freight forwarder within six months of their owner’s arrival in the Cayman Islands.

If furniture or any other goods, including personal items, are purchased new outside of Cayman, they will be subject to 22 percent duty - receipts or invoices must be presented to Customs.

Pets

Many people choose to bring their pets to Cayman with them. A few points to be aware of for those travelling with their pets:

• Rabies - the Cayman Islands is rabies free and all animals imported must have certification of rabies shots, be micro-chipped and have a veterinary health certificate, along with an import permit issued by the Cayman Islands Department of Agriculture – this procedure can take at least six months
• Accommodation - while it is by no means impossible to find pet-friendly accommodation, arriving with pets may limit your initial choice if renting