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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.

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

LatAm Inquiries About Cayman Growing: 10 on the Weekend – Sue Nickason

Ten On The Weekend is a semi-weekly feature in IMI, the concept of which is simple: Each time, we ask the same ten questions of a different industry figure, letting readers get to know the interviewee on a more personal and informal level than they might in an ordinary business setting.

Our guest this weekend is Sue Nickason of Dart Real Estate.


How do you spend the weekends?
The Cayman Islands have spectacular beaches surrounded by the Caribbean Sea with a rich marine environment. Living here means that most weekends include time spent outdoors and on the beach. COVID resulted in less travel time than usual and provided the opportunity for me to take up cycling, and I’m enjoying exploring Grand Cayman on two wheels. 

What are your top three business goals this year?
Continuing the momentum of the business successes we achieved in the last few years in promoting the Cayman Islands as a jurisdiction of choice for residency by investment.

Remaining customer centric; meeting and exceeding the expectations of our clients by serving as trusted advisors and providing exceptional customer service.  

Being innovative and flexible to keep pace with (and ideally ahead of) market trends. Our success in 2020 was due to how quickly we pivoted our business activities – it was a great lesson learned. We were able to do so thanks to the incredible support and resources available from working for a company like Dart.

What’s your biggest business concern right now?
On a global level, my biggest concerns are economic recovery and consumer confidence. For Cayman specifically, it is ensuring that our value proposition – our quality of life, modern infrastructure, low crime rate, tax neutrality, ease of access, and stable government and economy – is known and understood by our stakeholders and target market. 

Which book is on your nightstand right now? 
I have a lot of books there (I am hoping to decrease the size of the stack over the holidays). At the top of the stack, there is The Cayman Islands in Transition by J.A. Roy Bodden, Clay Water Brick by Jessica Ackley, The Moment of Lift by Melinda Gates, The Testaments by Margaret Atwood, A Little History of the World by E.H. Gombrich, and War & Peace by Leon Tolstoy.

How and why did you first get involved in the investment migration industry? 
The Cayman Islands is a premiere locale for globally mobile high net worth individuals looking for residency by investment through real estate. In the last two years, in response to increasingly dynamic global conditions, we have seen an increase in people looking to establish residency in Cayman so I was prompted by this market trend to learn more about investment migration and ensure our team is able to assist these individuals with their relocation needs. Earlier this year I completed the investment migration certification with the Investment Migration Council.

What was your proudest moment as a service provider?
I don’t think there has been a proudest moment but rather just an overall sense of accomplishment for myself and our team that we are now recognized by our colleagues as thought leaders on the residency by investment topic in the Cayman Islands. It is so rewarding when clients tell us how appreciative they are of the service we provide and the knowledge we share with them. It is that feedback that makes the work that we do so fulfilling.

Which investment migration market development has surprised you the most in the last year?
The demand from new markets for RBI in Cayman has been surprising in a positive way. Historically, demand for residency in Cayman has been driven by people from Canada and countries in western Europe. In 2020, we have seen an increase in inquiries from the United States, India, and LatAm.

Cayman recently introduced a Global Citizen Programme. Given the incredible lifestyle here and modern infrastructure, and the fact so many people will continue to work online in 2021, we anticipate many will apply to “live the dream” and spend time working from home in our tropical paradise.

If you could go back 10 years in time, what business decision would you change?
I would have moved to the Cayman Islands earlier. There is so much opportunity here and it’s such a great place to live.

What investment migration industry personality do you most admire?
First, I admire the people in the Cayman Islands government for the thoughtful RBI programme they have produced. I think it’s one of the best in the world when you consider its benefits and the value offered by the Cayman Islands. Second, Denis Kravchenko from the Investment Migration Council; he has been so supportive in my efforts to learn more about this industry. 

If all goes according to plan, what will you be doing five years from now?
Five years from now, I hope to be witnessing the positive impact that new RBI residents have made on Cayman’s economy and community. On a personal level, my goal is to continue trying to make a positive contribution to these wonderful Islands.

More From 10 on The Weekend

As many continue to work remotely in 2021, Sue Nickason expects a rise in applications from those wanting to “live the dream” in Cayman Islands.

“With nine hotels in […] development, we are keeping a close eye on the trends for the recovery,” writes Mercan Group’s Jerry Morgan.

Jeffrey Henseler says he’s confident investment migration application volumes will soar once people are free to travel again.

 

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The post LatAm Inquiries About Cayman Growing: 10 on the Weekend – Sue Nickason appeared first on Investment Migration Insider.