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Tech-Entrepreneurs Opt for Residency by Investment in the Cayman Islands

Provenance Properties

The Cayman Islands has gained a name for itself in recent years as a global hub for technology businesses, from start-ups and mid-sized enterprises to major international corporations that have their headquarters in the Islands. This trend has led many technology-related entrepreneurs to consider Cayman as not only a place to live but also a place to do business.  

A technology & innovation centre

The range of technology businesses in the Cayman Islands’ innovation sector is diverse and includes blockchain, fintech, e-commerce, biotech, digital marketing, software development, programming, data services, aviation innovation, hosting, telecommunications, electronic publishing companies and more. 

Cayman’s emergence as a centre for technology and innovation business has partially been driven by a less location-centric global economy, ‘work from anywhere’ trends, and COVID-19, which has caused most businesses around the world to rethink their operations and to operate within more virtual and flexible parameters. 

What attracts businesses to the Cayman Islands?
Camana Bay, Grand Cayman

The Cayman Enterprise City (CEC) organisation states that, since it launched in 2011, Cayman has attracted over 250 businesses of all sizes from more than 20 countries around the world to set up in the Cayman Islands. 

It isn’t just about dispersal or diversification, however; Cayman’s rise has also come about as a result of the strong and business-friendly foundations that Cayman has offered for many years, particularly to those in the financial services sector.

Richard Munden, a partner with Carey Olsen law firm in the Cayman Islands, explains: “Cayman’s unique tax position is undoubtedly a draw in that there is no corporate income, capital gains, withholding or similar taxes with which a tech company need be concerned. Other advantages include a flexible corporate law framework and the ability to set up a form of legal entity to conduct the business that has governance and other characteristics similar to the types of entities with which investors and principals will be familiar in other jurisdictions.” 

Mr. Munden continues: “The fact that Cayman also boasts a long-established reputation as an investment funds hub, and as such is already a known commodity to many investors, may also facilitate the funding of entities based here. There is also a large and sophisticated base of legal, accountancy, corporate and other service providers available to assist new companies.” 

Not just business, it’s personal
The Residences at Seafire, Seven Mile Beach, Grand Cayman

The business benefits for technology and innovation entrepreneurs to relocate to the Cayman Islands are clear, however, it is also clear that the true motivation behind a decision to take up residency in Cayman is often much more personal. 

Cayman’s advantages extend beyond commercial business decisions and appeal to the individual entrepreneurs behind technology companies and in this regard Cayman’s many lifestyle attractions have not gone unnoticed.

Matt Vaughan is the founder of Fetch Tech SEZC, a company based in the Cayman Islands that provides strategic and commercial support to venture-backed growth technology companies. He expands on why Cayman is so attractive: “With the momentum we are now seeing for home working, distributed workforces and work-from-anywhere models there are a wider range of businesses and entrepreneurs moving to Cayman – which can also bring about tax advantages for those individuals, such as in the event of an eventual business exit.

“The lifestyle and sophistication that Cayman offers is not something that can be found in other offshore centres and appeals to many entrepreneurs. Whether it is the availability of high-quality healthcare, world-class schools and educational facilities or high-end restaurants, spas, gyms, boating, golf, fishing and waterfront properties on a Caribbean island, Cayman ticks a lot of boxes.”

Jennifer McCarthy from TechCayman—an organisation created to attract and build a growing tech industry in the Cayman Islands—also cites Cayman’s impressive response to the global pandemic as a real pull over the last few months. “People are coming to us and saying, we want to be there – it’s the safest place on earth. Our clients really appreciate the stringency of Cayman’s approach to [the] COVID-19 [virus].” 

Residency by investment made easy

Dart’s Vice President of Real Estate Marketing and Sales, Sue Nickason, believes that Cayman’s property ownership regime for foreign buyers is an additional attraction: “Cayman is a very compelling place to purchase property; there are no restrictions on foreign ownership of property, no property taxes, no alien landholding licenses and we have access to a range of desirable properties, from turnkey beachfront condos on beautiful Seven Mile Beach to luxurious private homes and estates. In addition, people who invest a minimum USD $1.2 million in developed property can qualify for permanent residency in this British Overseas Territory.  Since COVID-19, permanent residency status is becoming increasingly important to globally mobile individuals.”

“Our team at Provenance Properties can assist with everything you need to make a move to Cayman including relocation advice on topics such as healthcare, education, pets, fitness and more, proprietary market data and introductions to local service providers and professionals who can assist with your move.”

Finding commercial space in the Cayman Islands

For those looking for commercial space for a technology business or new venture in Cayman, Dart Real Estate’s commercial leasing team manages more than 800,000 square feet of Class-A and Class-B office, retail and commercial space in strategic locations across the Cayman Islands – including Dart’s flagship development of Camana Bay  Dart Real Estate has also recently launched readyspaces at Regatta Office Park on Grand Cayman; flexible, turnkey office space that’s ready when you are and starting from US$1,500 per month.  Dart’s newest project, 60 Nexus Way, is now pre-leasing at Camana Bay and will welcome new tenants in 2022. 

Are you interested in the Cayman Islands, but not sure where to start? Contact Sue Nickason, VP of Real Estate Marketing and Sales for more information.

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Life in the Cayman Islands: Pristine Beaches, Robust Infrastructure And a COVID-Free Community


It is difficult to recall life before the COVID-19 pandemic ravaged the globe; exhausting lockdowns, vigorous social distancing guidelines, continuous mask-wearing, and a relentless dependence on online services shape-shifted our lives and made them unrecognisable. Unless you’re in the Cayman Islands, that is. 

While this group of islands in the Western Caribbean is considered one of the most attractive places in the world, we won’t bore you talking about its crystal-clear waters, sandy beaches, luxury resorts, sunny tropical climate, or its world-class cuisine; Google Images and YouTube do that for us. The true allure of the Cayman Islands is its high standard of living.

Cayman International School, Grand Cayman

One of the safest and easiest places to live in the world, let alone the Caribbean, the Cayman Islands serve as a microcosm of how the world could be. Its infrastructure is second to none, its economic landscape is bustling and residents are accomplished and educated. 

A COVID-free safe haven
In the atrocious year of 2020 the Cayman Islands proved to be much more than just an aesthetically pleasing economic power hub; it arose as a safe haven in a world gripped by fear. The Cayman Islands’ handling of the pandemic was steady, decisive and timely. The British Overseas Territory has only had 416 cases since the beginning of the outbreak, the majority of which were managed in quarantine facilities and as such local transmission has not occurred since July 2020.

Due to robust quarantine measures and safety protocols for returning residents, the community itself largely has no social distancing regulations, imposed lockdowns, or mask-wearing (except in healthcare facilities). The population is living life as it was intended; free of constraints. 

Seven Mile Beach, Grand Cayman

Successfully containing the virus
One may argue that islands had an easier task when it came to imposing travel bans and containing the spread of the virus, which, to some extent is true. Yet the Cayman Islands exceeds that perceived notion; comparing it to other islands such as the Bahamas (8,311 cases) or Malta (20,047 cases) among many others, it shows the adeptness of the Cayman Islands in handling the pandemic.

This is in no way an indictment of other countries, rather a commendation of the extraordinary competence of the Cayman Islands in handling a global pandemic that other nations could not contain. It is an accolade of awareness, capability, and efficient management and cooperation of both the government and residents that has made the Cayman Islands one of the most sought-out locales in a COVID world. Those with those with the resources to do so are flocking to Cayman from all around the globe. 

The Cayman Islands continues to thrive
The islands have one of the highest GDPs per capita in the world at US$85,975 (more than double that of France), which is mainly derived from financial services. 

The Peninsula Estate, Grand Cayman

The Cayman Islands perfected balancing between economic sustainability and the health of its locals. Cayman was able to avoid an economic catastrophe and maintain the wellbeing of its population through diligent planning and execution of preventive measures.  

The excellent handling of the pandemic is not the only reason the Cayman Islands is considered one of the best places in which to live, either. 

Access to quality healthcare and education

  • Through a comprehensive and expertly maintained infrastructure, its residents are set for life when it comes to the essentials. The Cayman Islands has 4.5 doctors per 1,000 residents, nearly double the figure of the United States, and have the medical institutions capable of delivering the best healthcare services possible, including the state-of-the-art Health City Cayman Islands facility. Its education system is also top-notch, as Cayman has a choice of excellent secondary schools, some that follow the British system (GCSEs and A-levels) as well as Cayman International School, which delivers the IB Diploma. Cayman’s proximity to the USA means its residents have a portal to the entire world for higher education via a 70-minute flight to Miami. 

A superior business landscape

  • Its business landscape also proves unmatchable, with some of the best financial and professional institutions in the world having large offices in Cayman, these include Royal Bank of Canada, Scotiabank, EFG, Bordier, KPMG, EY, Deloitte and PWC. Doing business in the Cayman Islands is simple, efficient, and most importantly, cost-effective due to the its tax-neutral status. There are no income, inheritance, corporate, capital gains, direct sales or recurring property taxes. Include the fact that the country has no imposed lockdowns or restrictions due to coronavirus, it is largely business as usual on these Caribbean islands. 

High standard of living

  • As Cayman provides one of the best quality of living standards, made possible by attracting the best the world has to offer, it is attractive to those seeking to live there full time. Through the Cayman Islands’ residency-by-investment (RBI) programs, the Certificate for Persons of Independent Means which requires a real estate investment of US$1.2 million and the Certificate of Permanent Residence for Persons of Independent Means which entails a US$2.4 million property investment; the Cayman Islands have a direct and simple route for high-net-worth individuals who wish to not only grow their investment but obtain a second home in one of the best liveable countries in the world. 
Kimpton Seafire Resort and Residences, Grand Cayman

For more information about securing residency in the Cayman Islands contact Sue Nickason, VP Marketing and Sales at Provenance Properties, the official Christie’s Real Estate affiliate in the Cayman Islands. The simplest and quickest path to permanent residency in the Cayman Islands is through the purchase of developed real estate valued at US$2.4 million or higher. For example, purchasing this three-bedroom luxury beach home at The Residences at Seafire qualifies buyers to apply for Cayman Islands residency if all requirements are met. The Provenance Properties team has a wide range of listings available to help satisfy this requirement while finding your ideal home.

It has been a long time since a business meeting started with a handshake or a family gathering was adorned by hugs, unless, of course, you are in the Cayman Islands.

Interested in contributing a sponsored feature? Email us on cn@imidaily.com and see all our promotional options here.

The post Life in the Cayman Islands: Pristine Beaches, Robust Infrastructure And a COVID-Free Community appeared first on Investment Migration Insider.