Cayman Islands: all programs

The Cayman Islands in brief

The Cayman Islands are a British Overseas Territory in the Caribbean, south of Cuba and west of Jamaica. They consist of three islands: Grand Cayman, where almost everyone lives and where the capital George Town stands, plus Little Cayman and Cayman Brac. They are one of the world's largest financial centres, home to thousands of investment funds and companies, banks, insurers, law and audit firms. There are no direct taxes, and life is safe, English-speaking and expensive.

The islands suit wealthy individuals and families who value no taxes, safety and British law, entrepreneurs in finance and technology, and those seeking long-term residence in a stable jurisdiction close to the US. They suit less those who need low costs or a second passport: there is no citizenship by investment here.

History and government

Columbus discovered the islands in 1503 and named them after the many sea turtles. Under the Treaty of Madrid of 1670 they passed to England and were long governed together with Jamaica. When Jamaica became independent in 1962, the Caymanians chose to remain a British territory. The governor is appointed by the King and is responsible for defence, foreign affairs and the police, while an elected parliament and premier run domestic affairs. Courts apply English law, with the Privy Council in London as the final court of appeal. The islands became a financial centre from the 1960s, when the first banking and trust laws were passed. In 2004 Hurricane Ivan damaged most buildings on Grand Cayman, and building codes have been tightened since.

How to move in 2026

The 25-year certificate gives the right to live on the islands but not to take employment, and its fee is 20,000 Cayman dollars. The remote worker programme is closed: no new applications have been accepted since 31 October 2022. More on each route on the page about moving to the Cayman Islands.

Taxes

The Cayman Islands have no income tax, capital gains tax, inheritance or gift tax, payroll tax or annual property tax. The budget relies on import duty, mostly 22%, stamp duty on property purchases of 7.5%, and since 2026 10% for property from 2 million Cayman dollars, on annual fees from companies and funds, and on licence and work permit fees. Tax residency certificates are no longer issued to individuals, so leaving your previous country's residency has to be proven with a residence permit, a housing contract and entry and exit stamps. More on the page about Cayman Islands taxes.

Property

Foreigners buy homes and land on the same terms as locals, with no special permits. Stamp duty is paid on purchase, and there is no ownership tax afterwards, only hurricane insurance, complex maintenance and utilities. The most expensive properties are condos and villas on Seven Mile Beach and in West Bay, while houses in Bodden Town and East End are cheaper. Local banks lend to foreigners, usually with a deposit of at least a third of the price. Rents are also high, because demand is kept up by thousands of foreign professionals on work permits.

Business and companies

Most foreign-owned companies on the islands are registered as exempted companies: they operate only outside the islands, pay no tax and pay an annual fee. Since 2019 such companies, if they carry on banking, insurance, holding or similar activities, must demonstrate real presence: an office, staff and decisions taken locally. To trade on the local market a company must be 60% owned by locals or obtain a separate licence. For foreign entrepreneurs the simplest option is the special economic zone: the company receives work permits for the owner and staff and can do business with clients abroad.

Cost of living

The Cayman Islands are one of the most expensive places in the Caribbean. Almost everything is imported, so groceries, cars and electricity cost noticeably more than in the US. Employees pay 5% of salary into a pension plan, the employer adds the same, and health insurance is mandatory and partly paid by the employer too. Private schools are expensive, and places at the best ones must be booked in advance. The Cayman dollar is firmly pegged to the US dollar: 1 Cayman dollar equals $1.20, and US dollars are accepted everywhere.

Where to live on Grand Cayman

• Seven Mile Beach. The best-known beach and a strip of hotels, condos, restaurants and shops, convenient for living without a car.
• Camana Bay. A new town quarter with offices, cafés, a cinema, a waterfront and an international school, popular with families.
• George Town. The capital and business centre with banks, courts, the port and the cruise terminal.
• West Bay. Quiet residential streets and villas in the north-west of the island.
• South Sound and Bodden Town. Residential areas on the south shore, where houses with gardens are cheaper than near the main beach.
• East End and North Side. The quietest part of the island, with empty beaches and coral reefs, but far from the offices.

Practicalities

• Climate. Tropical, about 25-31 degrees all year, with hurricane season from June to November; banks require hurricane cover on mortgaged homes.
• Language. English.
• Getting there. Flights from the US, Canada and the UK; Miami is just over an hour away, and the international airport is on Grand Cayman.
• Roads. Traffic drives on the left, public transport is limited, so almost everyone drives.
• Safety. One of the lowest crime rates in the Caribbean.
• Schools and healthcare. There are private schools with British, American and international curricula, a public hospital in George Town and private clinics, including a large cardiac and surgical centre in East End. Complex treatment is often done in Miami.
• Information exchange. The islands take part in the automatic exchange of account information, so details of foreign residents' accounts are sent to their home countries.

Leisure

The Cayman Islands are one of the best places for diving in the Caribbean: the sheer wall off Little Cayman drops hundreds of metres, and around Grand Cayman lie wrecks and coral reefs. On a sandbar in the North Sound you can swim with stingrays. At weekends people go to Little Cayman and Cayman Brac, which have hardly any cars or hotels, and Miami and Jamaica are an hour's flight away.

Who the Cayman Islands suit

The islands are a strong choice for a family with capital of several million dollars that wants to live tax-free in a safe English-speaking environment close to the US. Those who need a second passport are better served by countries with citizenship programmes, and Panama or Uruguay suit life on a smaller budget. Write in the chat and we will calculate the full cost of moving for your family.