Experts are warning foreigners of high unstated costs involved in applying for permanent residence in the Cayman Islands that can potentially add thousands of dollars to what is already an expensive process.
The upfront costs of Cayman Islands permanent residence application were greatly increased under amendments made to the immigration law in 2013, with the costs now ranging from $3,000 to $30,000 or even higher depending on who is filing the application. The new requirements include a one-year work permit fee, a fee based on the applicant’s income, a $1,000 application fee and also dependants’ fees, though only the $1,000 application fee is retained in the event that the application is rejected.
However these costs do not include other costs associated with acquiring official documents that must be submitted in support of the residency application, which can range anywhere from a few hundred dollars to thousands of dollars.
“People rarely give these fees much consideration in advance of applying,” says one immigration consultant. “However the total fees are considerable in all applications. I submitted one last week where the applicant was a high earner had two children and a spouse listed as dependents and … the total fees submitted with the application were almost $40,000.”
Some of the official documents required by the immigration department for permanent residence applications include local police clearance certificates from the Royal Cayman Islands Police Service, which is $25 per application, and medical tests by designated health centers, which are usually between $100 and $150 per person.
Applicants must also provide copies of birth certificates, university degrees, employer letters, bank letters, and property registry information, all of which must be certified by a public notary at around $25 per document.
Applicants also usually pay $200 for a four-week course on Cayman Islands history at the University College of the Cayman Islands, as well as $60 to $100 in books, in order to sit for the 40-question test that they are required to pass.
As the Cayman Islands permanent residence application process has become increasingly complex over the years, and with uncertainty surrounding the appeals process, applicants are being advised to ensure that the initial application is correct and is submitted together with all required supporting information and documentation so as to ensure the permanent residence application is accepted at the first attempt. To that end, experts are advising applicants to engage the services of specialist immigration consultants to assist them with their applications.
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Source: compasscayman.com