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What options do investors have in Cayman Islands for launching a startup?

Would entrepreneurs first have to wait and gain permanent residency via investment in real estate, or can they get permanent residency as they establish their own startup in Cayman? What options would you advise?


Answers
  • Bedell Cristin
    May 20, 2022

    Certainly, obtaining a Certificate of Permanent Residence by way of an investment in developed real estate and then launching a start-up from the Cayman Islands would be a prudent option. That way, you would have already established a nexus with the Cayman Islands that would make the process of setting up the business, corporate accounts, etc. much smoother. However, there is an option for what we term Extended (25-Year) Residency. This can be achieved by applying for a 25-Year Residency Certificate by way of a Substantial Business Presence which simply requires you to: (i) incorporate an exempted company (being a company that mainly carries on its activities overseas); and (ii) submit a residency application seeking to employ yourself in a senior management capacity (meaning a role that attracts a minimum annual fee of CI$20,925/US$25,518). It would also be possible for you to be the sole shareholder and sole director of the exempted company.