Moving to the Cayman Islands for Business Relocation
Are you a business owner seeking the perfect destination to elevate your enterprise? Look no further, as moving to the Cayman Islands offers many business advantages. From enticing tax incentives and a stable government to a welcoming business environment, the Cayman Islands are an ideal choice for business relocation. Our expert team at Cayman Islands Sotheby’s International Realty have years of experience in the local market. We can provide all the essential guidance to ensure a smooth and hassle-free transition. Here we’ll explore the myriad benefits of moving to Cayman for your business relocation.
Business Setup in Cayman
Establishing a business in the Cayman Islands is a breeze due to the range of government bodies, private companies and law firms that can help with all the formalities, from documentation and licences to banking. You will surely find highly qualified and reliable professionals on the islands – from tax experts and surveyors to architects and bankers. Furthermore, the advanced infrastructure and availability of modern offices make it easier than ever to set up shop when moving to Cayman.
Doing business in the Cayman Islands
The Cayman Islands is known for its well-regulated and pro-business environment. This stable and prosperous jurisdiction offers a top-notch infrastructure, a skilled workforce and various banking, investment and professional services. Furthermore, businesses in the Cayman Islands enjoy a favourable tax regime with no direct taxation on income or profit and a secure legal and regulatory framework that guarantees certainty. Additionally, moving to the cayman islands is an attractive option as it is accessible with a short flight from Miami and direct flights to the US, Canada and the UK.
Cayman Residency through investment
Residency through investment options includes:
Certificate of Permanent Residence
A minimum investment of US$2,439,024 in developed Cayman real estate grants the holder and their spouse a lifetime right to reside. In addition, the permit provides holders and their spouse’s opportunities to take up employment if they so wish. It also offers a route to the Cayman Islands status and full British Citizenship, along with all its benefits, including having a British passport without relinquishing their original nationality.
Residency Certificate (Substantial Business Presence)
This Certificate is valid for 25 years and can be renewed, giving the holder (and their dependents) the right to reside and work in the business in a senior management capacity. Additionally, the holder must own, or plan to hold, at least 10% of the shares in an approved business category and whether the business has established a physical presence in the Islands. It is also mandatory to stay in Cayman for at least 90 days each year.
Certificate of Direct Investment
The applicant will obtain a renewable 25-year certificate that includes eligible dependents when they invest US$1.2m in a licensed employment-generating business, whether an existing or a new venture. Applicants must demonstrate a background in the business and a knowledge of the industry they intend to invest in. It is mandatory to stay in Cayman for at least 90 days each year.
Invest in Cayman Property
The Cayman Islands has excellent opportunities for property investment. There are no restrictions on foreign land ownership, and the land registry process is regulated and simple. With no annual property taxes or obligation to develop the land. As a result, high-net-worth individuals can invest in luxury villas, condos and beachfront lots as an alternative to traditional investments. And, with the continued growth of the Cayman property market, it is considered a solid investment.
Moving to the Cayman Islands
Successfully relocating your business to the Cayman Islands necessitates careful planning and in-depth research. However, the rewards of moving to Cayman make the effort truly worthwhile, as the numerous benefits can greatly contribute to your business’s growth and success.
At Cayman Islands Sotheby’s International Realty, we cater to domestic and international clients looking to buy, sell, or lease residential and commercial properties, including the most sought-after luxury real estate. Our seasoned team possesses the expertise and knowledge required for seamless transactions, ensuring your move to Cayman is well-supported. To learn more about how we can assist you with your business relocation to the Cayman Islands, please contact us today. In the meantime, feel free to browse our latest listings here.