Cayman Island Real Estate

Most of real estate properties in Cayman Islands are sold by wealthy citizens to foreigners who want to permanently reside in the islands or make profit through renting out these properties to tourists. Most of the properties built are luxurious and lavishly-interiored townhouses that have easy access to beautiful beach, with the backyard a step away from swimming, snorkeling and diving. This means that houses for sale in Cayman Islands are a bit expensive, though owning and living in one is one great achievement.

Permanent residency in Cayman Islands, however, is not easily being granted. The British government requires a comprehensive application process assessing an individual's good reputation and financial status. It encourages only those applicants who has big potentials in contributing a significant investment in the islands. Prospective residents should prove that they have private income enough for them, and their family members, to live in the islands without being employed within the islands. Applicants who passed the permanent residency application can only work after two years of residence, although they are allowed to hold shares in a local company as long as it does not require direct management and daily office work. Ultimately, prospective residents must be capable of investing in a real estate property or a local business company that is worth at least 180,000 U.S. dollars.