The Cayman Islands has launched the Global Citizen program as an initiative for professionals and digital nomads to live and work remotely in the Cayman Islands (Cayman) for up to two years. Provided certain criteria are met, a person may apply for a Global Citizen Certificate (the Certificate), allowing them and their dependents the opportunity to live and work remotely in Cayman.
This Certificate presents a great opportunity for those looking to live and work in the Caribbean that until now may not have been be able to do so and may be of particular interest to those in the tech and digital assets industries and/or those who currently work remotely.
The Certificate has been created by in putting in place an exemption to the immigration laws that would otherwise apply. The Immigration (Transition) (Global Citizen Exemption) Regulations, 2020 (the Regulations) provide that a person may apply for a Certificate where they:
- Are employed outside of Cayman and intend to remain so employed if the Certificate is granted;
- Provide evidence that he or she has
an annual income of not less than:
- US$100,000 where the applicant intends to reside in Cayman;
- US$150,000 where the applicant and their spouse/civil partner intend to reside in Cayman;
- US$180,000 where the applicant and their spouse/civil partner and dependent children intend to reside in Cayman;
- US$180,000 where the applicant and their dependent children intend to reside in Cayman;
- Provide evidence this income is generated outside of Cayman; and
- They and any dependants have valid passports and are of good character.
In addition to the application requirements, the Regulations provide that the holder of a Certificate:
- May enter and work remotely for a period not exceeding 24 months;
- Shall reside and be physically present in Cayman for a minimum period of 90 days in aggregate in any year of the Certificate
- Shall not offer or provide goods and services to any person or entity in Cayman; and
- Shall possess adequate health insurance for themselves and their dependents.
The fees associated with the Certificate are as follows:
- Annual fee for the applicant and one dependent - US$1,500;
- Annual fee for each additional dependent - US$512;
- The fee for the first year is payable with the application for the Certificate The fee for the second year is payable at the end of year one.
The Global Citizen program will expire on 30 November 2023 with applications to be made by 31 October 2021 and so for those interested in taking advantage of this program, it makes sense to act quickly.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.