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Can I buy a vacant lot yet live on my boat for Cayman Islands residency?

I travel and live most of my retired life on my boat. If I were to buy a vacant lot on Little Cayman, yet reside on my boat, would this qualify me for a resident permit at a reduced cost? Furthermore, am I obliged to develop my land?

  • Priestleys
    November 19, 2018

    You do not need citizenship or residency rights in order to purchase land in the Cayman Islands, and there is currently no legislation mandating the upkeep or development of land unless you happen to purchase a lot which has been stratified. In that situation, the strata plan bylaws relating to must be adhered to by each owner. If you bring a boat into the territorial waters of the Cayman Islands, and you intend to reside in the Cayman Islands, customs duty will be payable on the value of the boat. When you enter the Cayman Islands, your passport will be stamped as a visitor, and if you then decide to remain in the Cayman Islands for a year or more, you must apply for one of the following types of residence grants: work permit holder; residency by way of independent means (there are two types, each with different monetary thresholds to meet).