Ask A Question  | Learn more about Cayman Islands

When can investors pull their money out after receiving permanent residency in the Cayman Islands?

Do they have to wait for a certain number of years before they can take their money out and invest in something else? Or can they do that immediately after they get their permanent residency?


Answers
  • Bedell Cristin
    May 20, 2022

    Holders of 25-Year Residency Certificates must maintain their investment for the duration of the Residency Certificate. There is flexibility in the sense that it does not necessarily need to be maintained in the same initial investment but in the event of a sale, there is a period of time within which a further investment (at the same or higher value) must be made. The only circumstance where such investment requirements differ is for holders of Certificates of Permanent Residence who progress to naturalisation as British Overseas Territory Citizens (after a period of 5 years) and thereafter, to the acquisition of the Right to be Caymanian (after a further period of 5 years). Whilst the same principles apply during that initial 10 year period, once they have acquired Cayman Status, there is no need for them to maintain any investments which for most of my clients opens up an interesting variety of succession planning options with which we assist.