lynnedarren

Hi
My wife and I are looking to move out to Grand Cayman in the next year or so.
I have been in touch with the CI embassy in London and found the criteria I need to get a visa foe Independent means, I was wondering if anyone else on here as done it the same way and how they went about moving over to find a property to buy, Did they get a different visa till they bought or did they have to trip back and forwards till they bought.

What kind of deposit do you need to buy a property over there?????

If anyone can answer any of the above it would be much appreciated.

dfjordan

I suggest you do some searching on this website before you decide to buy something, as from the posts I read from time to time, the place is going downhill. Worst seems to be the crime rate, corruption of the police and a general anti expat atmosphere

Orangepants

You'd have to satisfy the criteria to apply for the residency certificate for independent means - isn't that $500k which $250k has to be in developed real estate?
You'd line up properties to see beforehand and go for a couple of weeks. You can normally go for up to 28 days and then get extensions of a week at a time at a cost of $50 but snowbirds may get 6 months at entry by showing lots of docs etc. A risk you take on arrival.

Wouldn't you therefore be putting $250k into a house to satisfy that criteria.? Would you be looking at a mortgage from a CI bank? When I lived there, it was 20% deposit and a mortgage for 7 years but then I was on a work permit.

Have you been there?

Gordon Barlow

I wouldn't go so far as to say Cayman is getting worse. It's just not improving. The crime doesn't affect most of us; it's not rampant, although there are a few more no-go areas than there used to be. Yes, there is endemic corruption, but again it doesn't affect most of us. The Police probably aren't any more corrupt than they ever were. The anti-expat atmosphere emanates from a large and vocal minority of native-born Caymanians, and their representatives in the local parliament. It is mostly directed at Filipinos and black Jamaicans, whose numbers (both groups) are a lot higher than the anti-expats feel comfortable with.

From the earliest days of my blog, I have railed against this anti-expat foolishness in an attempt to persuade the anti's that it is bad for their own positions. But I have to admit that not much has changed. Check out some of my earliest posts.

Mind you, it's still a good place to live, for well-paid middle-class expats who aren't looking for love from the natives. All the expat nationalities get on remarkably well together; we all hate the Immigration Authorities, and that's a popular topic of conversation! Also, the money's good.

lynnedarren

Yes you have to invest $500,000 into property but it can be the property you live in.
And you have to earn over a certain amount per year to prove you are not needing to leach of the local economy.
My wife will be looking for a job to keep her from getting board while I am at work.
Is it hard to find employment when you are already living there.

Orangepants

It is probably harder to find employment when you are not living there!

That is a "how long is a piece of string question".. so many variables.
Many office jobs may be off limits as Caymanians will take those jobs..but in F&B and service sector maybe..