What does means Certificate of Permanent Residence for Persons of Independent?
Introduced in 2012, this Certificate provides the right of permanent residence without any time limit. The Certificate grants right to permanent residence for the applicant, spouse, and dependent children without the right to work. The investor can apply to the Caymanian Status & Permanent Residency Board seeking the right to work. The right may be granted only for particular occupation(s).
Eligibility: Certificate of Permanent Residence
- Fulfillment of the mandatory investment requirements.
- The immigrant and his or her spouse must have a good character and a clean criminal record.
- The applicant, spouse, and dependent children must be in good health and possess adequate health insurance coverage.
- The applicant must have adequate financial resources to maintain self and family in the Islands.
Investment Requirement:Certificate of Permanent Residence
The investor is required to make an investment of a minimum amount of CI$1.6 million in developed real estate in the Cayman Islands.
Application Process: Certificate of Permanent Residence
- Submit the completed application form with all necessary documents to the Chief Immigration Officer at the Department of Immigration.
- Provide satisfactory proof of the real estate investment.
- The Officer shall review the form and require the applicant to submit additional information.
- Upon receipt of additional information and proof of payment of requisite fees, the Chief Immigration Officer may issue the Certificate of Permanent Residence for Persons of Independent Means.
- This Certificate is valid throughout the life of the investor.
Death of, or divorce from, the holder of Residency Certificate
In the event of death or divorce, the right of residence of the surviving or former spouse of the investor may be revoked at the discretion of the Chief Immigration Officer at the Department of Immigration.
The surviving or former spouse is free to apply for Permanent Residence in his or her own name subject to fulfillment of all eligibility conditions.
Family Members: Certificate of Permanent Residence
The resident permit issued by Cayman Islands covers the following family members of the investor:
- Dependent Children.
The right of dependent children to reside in the Islands shall end upon fulfillment of either condition:
- Completion of full-time tertiary education of the child, or
- Attainment of age of 24 years
Upon attaining the age of 18 years, the child of the holder of a Permanent Residence Certificate can apply for Permanent Residence in his or her own name by virtue of having been a legal and ordinary resident in the Islands for a period of not less than eight years. The applicant must fulfill all the eligibility requirements to enjoy the status of a Permanent Resident independent of his or her parent(s).
Revocation: Certificate of Permanent Residence
The right to reside granted by the Certificate of Permanent Residence may be revoked if:
- The investor fails to maintain the prescribed investment in developed real estate in the Cayman Islands.
- The holder violates the general provisions related to revocation as laid down in Section 38 of the Immigration Law of the Cayman Islands.
Annual Declaration: Certificate of Permanent Residence
Every holder of the Certificate is required to submit an annual declaration certifying compliance with all requirements related to revocation of the Certificate. The Declaration must be submitted by 31st December to the Chief Immigration OfficerGeneral Information: Contact us to receive more information about this article.
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