Name of country



  • Caribbean, three-island group (Grand Cayman, Cayman Brac, Little Cayman) in Caribbean Sea, 240 km south of Cuba and 268 km northwest of Jamaica


  • 63,131 (July 2021 est.)

note: most of the population lives on Grand Cayman

General Introduction

  • If you have independent means or are a qualified business investor, obtaining permanent residency in the Cayman Islands can be a simple process.

Provenance Properties, the Cayman Islands’ official Christie’s Real Estate affiliate, can assist you in finding a home if you are seeking permanent residency in this thriving British Overseas Territory. With four residency certificate options, a growing number of discerning individuals are now living and working in one of the world’s top ten financial centres.

Wifi Speed

  • Cayman offers the fastest internet speeds in the Caribbean with average speeds of 16.12Mbps across all three islands – not far off the UK average of 22.37Mbps.

Electrical outlet

  • On the Cayman Islands the power plugs and sockets are of type A and B. The standard voltage is 120 V and the standard frequency is 60 Hz.

Per Capita GDP 

Real GDP per capita

  • $73,600 note: data are in 2017 dollars (2019 est.)
  • $71,800 note: data are in 2017 dollars (2018 est.)
  • $69,573 (2017 est.)


  • tropical marine; warm, rainy summers (May to October) and cool, relatively dry winters (November to April)


  • The Cayman Islands have a permanent residency program that includes a path to eventual naturalization and citizenship. The Cayman Islands have no corporation, income, capital gains, inheritance, or sales taxes, making the program appealing to investors looking for a tax-efficient residence.

Investment and Requirements

Certificate of Permanent Residency for Persons of Independent Means 

  • Persons who invest a minimum of two million Cayman Islands’ Dollars in developed real estate in the Cayman Islands may apply for a Certificate of Permanent Residence for Persons of Independent Means. As the Certificate title denotes, a holder has the right to reside indefinitely in the Cayman Islands.
  • A holder will also have the option of seeking naturalization as a British Overseas Territories Citizen and, thereafter, the right to be Caymanian.
  • A holder and his spouse may also have their permission to remain varied to allow the right to work in the Cayman Islands.

Residency Certificate for Persons of Independent Means 

  • This is for persons who wish to reside long-term in the Cayman Islands without the right to work. Applicants will be required to demonstrate that they have invested a prescribed minimum amount in developed real estate in the Islands and that they meet certain financial standing requirements.
  • A successful applicant will be granted permission to reside in the Islands for a period of 25 years (renewable).
  • 1M Investment
  • Annual Income of 120K CI
  • 400,000 CI In local bank

Certificate of Direct Investment 

  • The Certificate of Direct Investment is for persons who invest, or propose to invest, a minimum prescribed amount in a licensed employment generating business in the Cayman Islands and in which he/she will exercise substantial management control.
  • An applicant must demonstrate a substantial business track record or an entrepreneurial background, including specific professional, technical and other knowledge relevant and necessary to carry on the business.
  • 1 M in an employment generating business

Residency Certificate (Substantial Business Presence)

  • This  is for persons who invest in, or who are employed in a senior management capacity within, an approved category of business in the Cayman Islands.
  • A successful applicant is granted a Residency Certificate valid for 25 years (renewable) which entitles him to reside in the Islands and to work in the business in which he has invested or is employed in a senior management capacity.
  •  Varies based on business investment; limited-status

Processing Time

  • Between 4 to 5 months.

Key Benefits

  • No restriction on foreign ownership of land
  • No direct taxation in the form of corporate, capital gains, inheritance, personal income or recurring property taxes
  • Convenient location with nonstop flights to London Heathrow and major North American cities, including a 70-minute flight to Miami
  • A sophisticated infrastructure with modern hospitals, reliable telecommunications, quality education and an extensive paved road network
  • Strong and stable economy
  • An estimated 3.2% growth in 2019 (GDP)
  • Stable, democratic government and a Governor appointed by the UK monarchy
  • Low crime rate thanks to a well-established police force
  • Judicial system based on English common law with the UK’s Privy Council serving as the highest court of appeal
  • High-quality shops, services, hotels and restaurants
  • Friendly, welcoming and educated population

Natural Resources

  • fish, climate and beaches that foster tourism

Ethnic Groups

  • mixed 40%, White 20%, African descent 20%, expatriates of various ethnic groups 20%


  • English (official) 90.9%, Spanish 4%, Filipino 3.3%, other 1.7%, unspecified 0.1% (2010 est.)


  • Protestant 67.8% (includes Church of God 22.6%, Seventh Day Adventist 9.4%, Presbyterian/United Church 8.6%, Baptist 8.3%, Pentecostal 7.1%, non-denominational 5.3%, Anglican 4.1%, Wesleyan Holiness 2.4%), Roman Catholic 14.1%, Jehovah’s Witness 1.1%, other 7%, none 9.3%, unspecified 0.7% (2010 est.)

Median Age

  • total: 40.5 years
  • male: 39.7 years
  • female: 41.2 years (2020 est.)


  • urban population: 100% of total population (2021)
  • rate of urbanization: 1.13% annual rate of change (2020-25 est.)

 Government type

  • parliamentary democracy; self-governing overseas territory of the UK

Unemployment Rate

  • 4% (2008)
  • 4.4% (2004)


Headline Personal Income Tax Rate (highest marginal tax rate) 

  • 0%

Headline Corporate Income Tax Rate (excluding dividend taxes)

  •  0%

Corporate – Taxes on corporate income

  • Corporate income, capital gains, payroll, or other direct taxes are not imposed on corporations in the Cayman Islands.

Individual – Taxes on personal income

  • There are no income or withholding taxes imposed on individuals in the Cayman Islands.

Import duties

  •  Import duty is paid, generally at a rate of 22% to 27%, on importation of most goods

Stamp duties

  • Stamp duty is paid, generally at a rate of 7.5%, on transfers of Cayman Islands immovable property.
  • Stamp duties also apply on legal or equitable mortgages or charges of immovable property or debentures. The stamp duty ranges from 1% to 1.5%, depending on the sum secured.

Trusts Act (2021 Revision)
95. (1) In this Part “beneficiary” means a person who will or 1nay derive a benefit or advantage, directly or indirectly, from the execution of a special trust enforcer means a person who has standing to enforce a special trust ordinary, in reference to a trust or power, signifies that it is a trust or the power which is not subject to this Part Power includes an administrative power as well as a dispositive power. Special in reference to a trust or power, signifies that it is a trust or which is subject to this Part standing to enforce” means the right or duty to bring an action for enforcement of a special trust; and includes a trust of a power, as well as a trust of property, and trustee has a correspondingly extended meaning.
(2) In this Part, a power is said to be held in trust if granted or reserved subject to any duty, expressed or implied, qualified or unqualified, to exercise the power or to consider its exercise.
(3) Except as provided in subsections (1) and (2), terms and expressions defined in section 2 have the same meanings in this Part.

,,. ( l) A trust or power is subject to this Part, and is described as special, if-
a) it is created by or on the terms of a written instrument , testamentary or inter vivas; and

b) the instrument contains a declaration to the effect that this Part is to apply.
(2) If a trust or power is created by written instrument in exercise of a special power, and the instrument contains no declaration as to the application of this Part, this Part shall, subject to evidence of a contrary intention, be deemed to be intended to apply; and for the purpose of subsection (1) the instrument shall be needed to contain a declaration to that effect.
(3) A trust or power which does not meet the requirements of subsection (1), and is not deemed to do so by virtue of subsection (2), is an ordinary trust or power and is not subject to this Part.

97. Nothing in this Part affects an ordinary trust or power directly or by inference.

98. The law relating to special trusts and powers is the same in every
.respect as the law relating to ordinary trusts and powers, save as provided in this Part. ‘

99. (l)The objects of a special trust or power may be persons or purposes or both.
(2) The persons may be of any number.
(3) The purposes may be of any number or kind, charitable or non­ charitable, provided that they are lawful and not contrary to public policy.

100. (l)A beneficiary of a special trust does not, as such, have standing to enforce the trust, or an enforceable right against a trustee or an enforcer, or an enforceable right to the trust property.
(2) The only persons who have standing to enforce a special trust are such persons, whether or not beneficiaries, as are appointed to be enforcers
a) by or ·pursuant to the terms of the trust; or
b) by order of the court.
(3) A right or duty to enforce a trust is presumed, subject to evidence of a contrary intention, to extend to every trust which is created by or on the terms of the same instrument, or pursuant to a power so created.
(4) The court may, on the application of a trustee or an enforcer, appoint an enforcer –
a) if the terms of the trust require the appointment of an enforcer but-
i) it is impossible to make the appointment without the
court’s assistance· or
‘ii) it is difficult to make the appointment without the court assistance;
b) if an enforcer With a duty to enforce is unable, unwilling or unfit to do so; or
c) if there is no enforcer who is of full capacity and who –
i) is a beneficiary; or
ii) has a duty to enforce and is fit and willing to do so.
(S)ln the circumstances described in ,paragraph (c) of subsection (4), the trustee shall, within thirty days apply, to the court for the appointment of an enforcer, or for the administration of the special trust under the direction of the court, or for such other order as the court shall think fit and, if a trustee knowingly fails to do so, that person commits an offense and is liable on summary conviction to a fine of ten thousand dollars.
(6) Subsections (1) to (5) do not affect –
a) the enforcement, by a trustee, an enforcer or any other person involved in the administration of a trust, of a right to remuneration or indemnity; or
b) the enforcement of a trustee’s duties by a co-trustee or a successor trustee.
(7) Section 83 does not apply to special trusts.

101. (!)Standing to enforce a special trust may be granted or reserved as a right or as a duty.
(2) Subject to evidence of a contrary intention, an enforcer is deemed to have a fiduciary duty to act responsibly with a view to the proper execution of the trust.
(3) A trustee or another enforcer, or any person expressly authorized by the terms of the special trust has standing to bring an action for the enforcement of the duty, if any, of an enforcer.

102. Subject to the terms of that person’s appointment –
a) an enforcer has the same rights as a beneficiary of an ordinary trust –
i) to bring administrative and other actions, and make
applications to the court, concerning the trust; and
ii) to be informed of the terms of the trust, to receive information concerning the trust and its administration:ion from the trustee, and to inspect and take copies of trust documents;
b) in the performance of that person’s duties, if any, an enforcer has the rights of a trustee of an ordinary trust to protection and indemnity and to make applications to the court for an opinion, advice or direction or for relief from personal liability; and
c) In the event of a breach of trust an enforcer has, on behalf of the trust, the same personal and proprietary remedies against the trustee and against third parties as a beneficiary of an ordinary trust.

103. (})Subject to subsection (4), a special trust is not rendered void by uncertainty as to its objects or mode of execution.
(2) The terms of a special trust 1nay give the trustee or any other person power to resolve an uncertainty as to its objects or mode of execution.
(3) If a special trust has multiple objects and there is no allocation of the trust property between them, the trustee, subject to evidence of contrary intention, has discretion to allocate the trust property.
(4) If an uncertainty as to the objects or mode of execution of a special trust cannot be resolved, or has not been resolved pursuant to the terms of the trust, the court –
a) may resolve the uncertainty –

i) by reforming the trust;
ii) by settling a plan for its administration; or
iii) in any other way Which the court deems appropriate; or
b) insofar as the objects of the trust are uncertain and the general intent of the trust cannot be found from the admissible evidence as a matter of probability, may declare the trust void.
(5) This section applies to powers as to trusts.

104. (l)lf the-execution of a special trust in accordance with its terms is or become in whole or in part-
a) impossible or impracticable;
b) unlawful or contrary to public policy; or
c) obsolete in that, by reason of changed circumstances, it fails to achieve the general intent of the special trust, The trustee shall, unless the trust is reformed pursuant to its own terms, apply to the court to reform the trust cypress or, if or insofar as the court is of the opinion that it cannot be reinforce consistently with the general intent of the trust, the trustees shall dispose of the trust property as though the trust or the relevant part of it has failed.

(2)Section 72 does not apply to special trusts.

05. (l)Except as authorized by an order of the court, or permitted by or pursuant to this section –
a) the trustee of a special trust shall be, or include, a trust corporation; and
b) the trustee shall keep in the Islands at the office of the trust corporation a documentary record of-
i) the terms of the special trust;
ii) the identity of the trustee and the enforcers;
iii) all settlements of the property upon the special trust and the identity of the settlors;
iv) the property subject to the special trust at the end of each of its accounting years; and
v) all distributions or applications of the trust property.

(2) Repealed by section 6 of the Trusts (Amendment) Act, 2019 [Law 4 of 2019].

(3) The court may authorize non-compliance with subsection (1) on such terms as it thinks fit if it is satisfied that the execution of the trust will not be prejudiced.

(4) A person who, in the Islands or elsewhere, accordingly administers a special trust while there is a breach of paragraph (a) of subsection (1), apart from-
a) actions intended to bring the trust is to compliance with paragraph (a) of subsection (1) as soon as possible; and
b) actions intended to preserve the trust property pending compliance with paragraph (a) of subsection (1)
commits an offense and is liable on summary conviction to a fine of ten thousand dollars and to imprisonment for one year, and on conviction on indictment, to a fine of one hundred thousand dollars and to imprisonment for five years.
(5) A trustee who knowingly fails to comply with paragraph (b) of subsection (1) commits an offense and is liable on summary conviction to a fine of ten thousand dollars.
(6) This section does not apply to the holder of a power which is granted or reserved by the terms of a special trust to a person other than the trustee of the special trust, even though the power is held in trust.
(7) This section does not apply (except as regards any antecedent offense) if the governing law of the trust has been changed from the law of the Islands.
(8) The Cabinet 1nay make regulations subject to affirmative resolution restricting the application of subsection (1).

106. (l) Section 239(1) of the Penal Code (2019 Revision) does not apply in relation to special trusts.
(2) For the purpose of the Penal Code (2019 Revision) property held upon a special trust shall be regarded, as against the trustee of the property or of any power in relation to the trust, and against any enforcer of the trust, as belonging to others (except to the extent of the beneficial interest, if any, of the trustee or enforcer under the terms of the trust), and an intention on the part of any such trustee or enforcer to defeat the trust shall be regarded accordingly as an intention to deprive others of their property.

l 07. A person who, as trustee, accepts a settlement of property upon a special trust without taking steps to ensure that the settlor, or the person making the settlement on that person’s behalf, understands who will have standing to enforce the trust commits an offense and is liable on summary conviction to a fine of ten thousand dollars and to imprisonment for one year, and on conviction on indictment to a fine of one hundred thousand dollars and to imprisonment for five years.

108. Part VI of this Act applies to special trusts but as though paragraph
(b) of section 89(4) were repealed and the following substituted –
“(b) in the case of a change from the law of the Islands, the new governing law would recognize the validity of the trust (without any material effect on its objects) and the standing of the enforcers to enforce the trust.”.

109. No land nor any interest in land in the Islands shall be subject, directly or indirectly, to a special trust, but a special trust may hold an interest in a company, partnership or other entity which holds land in the Islands, or an interest in such land for the purposes of its business.

STAR Trusts have been part of Cayman Islands late since October 1997, when the Special Trusts (Alternative Regime) Lai-v 1997 (thus STAR) came into effect, which is not incorporated into the Trusts Act (2021 Revision) of the Act).

STAR Trusts are very popular in commercial structures where there is trust to avoiding the “beneficiary principle” (which provides that there, must be an ascertainable beneficiary a proprietary interest in the trust property capable of enforcing the trust), the common law requirement of certainty and the rule against perpetuity. In essence, this means in practice is that a STAR Trust is very flexible as it operates:
to approved rights of beneficiaries not only to enforce the trust, but also their rights to seek disclosure of information regarding the trust and its on-going administration (the “Enforcer” of’ the trust is the only person (natural person or corporate entity) 1-with standing to enforce the terms( { the STAR Trust);
such that any uncertainty as to objects or 1node of’ execution or administration of a STAR Trust can be resolved by the trustee ( or any other person the trust document so specifies) or by the court, if necessary. A STAR trust is therefore very unlikely to be declared void ab innate on grounds of uncertainty; and such that it may be created for an unlimited curation.

The only restrictions on the types of.purposes ( or objectives) that they are lawful and not contrary to public policy. STAR Trusts are regularly used in complex loan transactions, asset securitization transactions or business joint ventures, for example. In certain offshore planned structures, it is not possible or desirable for the parties to become beneficiaries of a trust and the financial planners can be uncomfortable with establishing a charitable trust. furthermore, and having regard to the above, a STAR trust is often used in a transaction 1–whereby a party wishes to move off its balance sheet certain assets or where it prefers to not take legal or beneficial control c f assets for a particular period o.f time or until or after a special event.
A STAR Trust does not have to be registered with the regulatory authorities in the Cayman Islands which preserves it confidentially (but maybe subject to disclosure by Court order or under a Tax Information Exchange Agreement properly invoked in. according to its terms). Accordingly, there are no direct taxes.
In terms of· regulation., the trustee of a STAR Trust must be (or more than one trustee, must include) a trust company licensed in the Cayman Islands under the Banks and Trust companies Lai-v or a private trust company registered in the Cayman Islands. The trustee of’ a STAR trust must also comply with certain statutory requirements which include keeping documentary records of’ all settlements of· property upon trust and all distributions or applications of the trust Property.



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