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Relocations Moving to Cayman

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RelocationsMoving to Cayman

Your trustedpartner inrelocating to theCayman Islands.

ContentsMoving to the CaymanIslands 3About the Cayman Islands 4Life in Cayman 6Residency requirements 8Real Estate services 10Trust and EstateManagement 12Contact us 15

Relocations

03

Moving to the Cayman IslandsChoosing a location to move to is notjust about finding a home for yourwealth; it’s about finding a home foryour family.

Cayman is a tax-free BritishOverseas Territory which isconsistently ranked andrecognised as one of the topoffshore financial centres in theworld. But it’s also much morethan that – Cayman is a beautifuland secure island that combinesspectacular scenery, a tropicalclimate and stunning beacheswith traditional values of respect,community and privacy.

The excellent education provisionoffers a choice of either the Britishor American school systems, and abroad range of medical servicesare available, with healthinsurance required by law.

The Cayman Islands are a tax-neutral economy - there are noincome, inheritance, propertysales, corporation, capital gains orwithholding taxes in the CaymanIslands.

Our High Net Worth (HNW)Relocations Team can assist withthe legal and regulatory aspects ofyour relocation to Cayman, theacquisition of your property, estateplanning and, if required, theestablishment of relatedbusinesses in Cayman.

Our HNW Relocations Team isrecognised by clients as beingresponsive, professional anddiscreet.

We advise both domestic andinternational clients on buying andselling residential and commercialproperty in Cayman – including themost expensive property purchasein the island’s ultra-luxury propertymarket – and our team provide notjust the legal advice to guide youthrough the process, but also thepractical, local, hands-onconcierge expertise that you needas well.

And should you need outsideexpertise – be it trusted taxadvisers, surveyors, architects, orprivate banks – we will open up ournetwork of trusted experts to you.

Active in theCayman Islands forover 25 years, ourCayman office wasestablished in 1991and officiallybecame Ogierfollowing the firstever transatlanticmerger in theoffshore world in2004.

Our relocationsstrategy is to providea hub from which allquestions can beanswered, includingpre-move planning,advice on theapplication process,purchasing property,establishingbusinesses andemploying people inany of our locations.

Relocations

04

About the Cayman IslandsThe Cayman Islands are located in thewestern Caribbean about 150 milessouth of Cuba, 460 miles south ofMiami, Florida, and 167 milesnorthwest of Jamaica.

The Cayman Islands are drawingmore and more entrepreneurs andpeople with young families, luredby a combination of the lifestyleand sports on offer, as well as thefriendly and secure environment,and the infrastructure in terms oftravel, health and education.

You're never far from the beach,and Cayman has a wealth ofthings to do on the water – fromworld-class diving, an early sunrisepaddle, fishing excursions or familyboat outings, there is a raft ofwater-based activities for familieswith young children, to moreadventurous adults.

The fact that you can be at homeor on the beach within minutes ofleaving work, the absence ofcapital gains or inheritance taxes,property taxes and income taxesand an enviable work-life balanceare still key drivers both for inwardinvestment and decisions by highnet-worth individuals, but today,the reasons that the relocationshortlist is so often whittled downto the Cayman Islands go muchfurther than tax and lifestyle.

Cayman's air travel links extend tothe US, the UK, Canada andCentral America, as well asJamaica and Cuba, and thecombination of top-classeducation and health services andvery low crime rates make theislands an attractive communityenvironment.

In addition to that comes theexceptionally high quality ofprofessional services, includingsome of the world’s leading banks,financial institutions and lawfirms, offering the same quality ofadvice and professionalism thatyou would expect from the topLondon or New York institutions.

Average dailytemperatures inCayman peak ataround 86 degrees.The peak touristseason runs frommid-November toApril and seesbrilliant sunshineand light breezesblowing in from thesea. Rainy seasonruns from May toNovember, butheavy rainfall tendsto last for only a fewhours a day.

05

James BergstromPractice Partner

Our services to relocating families, individuals and firms goes beyond basic immigration – we advise on finding a property, and work with clients to introduce them to our trusted networks of local suppliers and professionals.

Relocations

06

Life in CaymanOne of the major selling points ofmoving to Cayman is the quality andbreadth of the healthcare andeducation services on offer.

Healthcare in CaymanFor a jurisdiction with a totalpopulation of just over 60,000people, you may be surprised tolearn that Cayman boasts threefully-equipped hospitals and manyprivate healthcare specialists.

Health City is a tertiary carefacility which provides highlyspecialised medical services. Thisworld-class facility is aninternationally accredited centreof global excellence which treatspatients from the Caribbean, theUnited States and Latin America.

The provision in terms of cardiacsurgery and oncology is world-class, with full technicalinfrastructure such as advancedradiology and MRI services, as wellas specialists in the respectivefields.

Health insurance for islandresidents is mandatory, and ishighly recommended for visitingresidents because of the high costof treatment.

Education in CaymanCayman has a wide variety ofexcellent public and privateschools from preschool all the wayto university level, as well asprovision for adult learning.

Under Cayman law all childrenfrom the age of four years andnine months to 17 must be in full-time education, or be home-schooled.

There are almost 5,000 places inthe island's private schools – wecan advise on the right choice foryour child and on the applicationprocess (the schools can fillquickly, and early applications arestrongly advised).

Importing pets intoCayman is a longprocess that takesat least six months'planning, and withwhich our team canassist. Importpermits for dogs andcats are requiredfrom the CaymanIslands Departmentof Agriculture andthere are furtherprocesses to followin respect of petsbeing brought overfrom the UK or US.

07

A world-class commercial environment in a relaxed, safe, holiday location – what more could you ask for?

Relocations

08

Residency requirementsThere are four key routes to residencyin Cayman, and our team can adviseyou on the processes and whichoption is most appropriate for yourbespoke circumstances.

Residency Certificate forPersons of Independent MeansAn individual who is able todemonstrate that they have acontinuous source of annualincome of CI$120,000 (US$146,341.46) without the need towork in the Islands or that theyhave an account with a CaymanIslands Monetary Authority-regulated and locally licensedinstitution and maintains aminimum deposit in the accountof at least CI$400,000 in assetsand that they have invested atleast CI$1,000,000 (US$1,200,000)in Grand Cayman of which at leastCI$500,000 (US$610,000) must bein developed real estate, mayapply to the Chief ImmigrationOfficer for a Residency Certificatefor Persons of Independent Means.

A Residency Certificate for Personsof Independent Means is valid for arenewable period of twenty-fiveyears and does not allow theholder to work in the CaymanIslands. The spouse and dependentchildren of the applicant will alsobe allowed to reside in theCayman Islands without the rightto work if they were named in theapplication.

Certificate of Direct InvestmentA person who makes, or proposesto make, an investment of at leastone million dollars in anemployment generating business –either existing or a new venture -and in which he plans to exercisesubstantial management control,may apply for a Certificate ofDirect Investment. The words‘employment generating business’mean a business in which at leastthirty per cent of the total numberof employees are Caymanianunless it can be shown thatoverriding circumstances dictate alower percentage.

An applicant for a Certificate ofDirect Investment must also showthat he or she has a substantialbusiness track record or anentrepreneurial background,including specific professional,technical and other knowledgerelevant and directly necessary tocarry on the proposed business.

A Certificate of Direct Investmentis valid for a renewable period of25 years and entitles the holder toreside in the Cayman Islands andto work in the business orbusinesses in which he or she hasinvested.

The wide range ofoptions allows forthe uniquecircumstances ofmost applicants tobe accommodated,however it is prudentto engageprofessionalassistance with theapplication.

Relocations

09

We can assist with the legal andregulatory aspects of your relocationto the Cayman Islands, the acquisitionof your property, estate planning andthe set-up of related businesses.

Certificate of PermanentResidence for Persons ofIndependent MeansThis category of long-termresidence is different to the othersin that it affords the holder fullpermanent residence in theCayman Islands. The holder willalso be able, subject to meetingthe requirements of the BritishNationality Act 1981, to apply fornaturalization as a BritishOverseas Territories Citizen,including obtaining a BOTCpassport - which may allow anindividual to renounced additionalcitizenship if desired, andultimately the right to beCaymanian – a term known as‘belongership’ in other Territories.The holder and their spouse mayalso have their permission toremain varied to allow the right towork in the Cayman Islands. Thisresidence category is subject to anannual quota which is currently setat 250.

The holder of a Certificate ofPermanent Residence for Personsof Independent Means and theirfamily are allowed to residepermanently in the CaymanIslands without the right to workinitially. But the Certificate may bevaried to allow employment (forany employer) though it will belimited to a particular occupation.

Residency Certificate(Substantial Business Presence)This is a long-term residencecategory for persons who invest in,or who are employed in a seniormanagement capacity, within anapproved category of business.The category is open to personsalready resident in the CaymanIslands and persons wishing tobecome resident. Applicants whomeet the eligibility criteria will beissued a Residency Certificate(Substantial Business Presence)valid for 25 years (renewable)entitling them to reside in theCayman Islands and to work in thebusiness in which they haveinvested or are employed in asenior management capacity.

In considering whether anapplicant has established, or willestablish, a ‘substantial businesspresence’ in the Islands the ChiefImmigration Officer will take intoaccount whether through thepurchase or lease of commercialreal estate the business hasestablished a physical presence inthe Islands. It will also be takeninto account whether the businessin question employs, or willemploy, a minimum of four full-time employees who are legallyand ordinarily resident in theIslands for a minimum of ninemonths in any calendar year.

The service they'vegiven us has beenfirst class, and theyhave strength acrossthe property andfinance side. They'remy firm of choice,the one I would pickon first.Client feedback

They've got a greatteam, with strengthin depth. They havea great knowledgeand greatconnections.Client feedback

Relocations

10

Real Estate servicesRelocating clients need real expertiseand real insight when dealing withreal estate - Ogier's dedicated teamoffers both.

Our full-service Cayman Islandproperty law team is well knownfor executing some of the largestand most complex residential andcommercial property transactionswith accuracy and speed. Weprovide a responsive, constructiveand commercially aware clientservice for large and smallbusinesses.

Our team has acted for locallandlords, tenants, developers andfinanciers as well as institutionalinvestors of international repute.We also handle a wide range oflocal residential transactionsranging from the purchase andsale of the most valuable andprestigious properties in theCayman Islands to smaller condosand first homes. Our residentialproperty team is highlyrecommended by local agents,banks and the people we havehelped to buy, sell and financetheir property.

Our services to relocating families,individuals and firms goes beyondbasic real estate - we advise onfinding a property, and work withclients to introduce them to ourtrusted networks of local suppliersand professionals.

We also have a leading planningand construction team who canhelp to navigate through thesometimes complex regulationsrelating to development activity.

Our team have specialist expertisein:

Residential sales and purchases,particularly high-valueresidential conveyancing.The Planning process forrenovations, extensions or newdevelopments.Development, sales and lettingsof large scale commercial andresidential projects.Construction, environmental andhealth and safety law issues.Commercial Real Estate Mergersand Acquisitions

Ogier is currently the"International LegalTeam of theYear" (STEP) and"Law Firm of theYear - Caribbean"Citywealth

11

Cline GliddenSenior Associate

The Cayman Islands has a flexible and accommodating immigration system that offers a number of immigration related incentives for persons who invest in a business or in developed real estate in the Islands.

Relocations

12

Trust and Estate ManagementOur experienced team of trust andestate lawyers can help make sureyour affairs are in order so you canpass on your wealth to your family ina structured and efficient manner.

Once you own land in the CaymanIslands, you will need a CaymanIslands will to make sure that, inthe event of your death, the mostappropriate people are appointedas your executors and that youleave your estate to thebeneficiaries that you havechosen.

Cayman Islands law is constantlyunder review to keep itsophisticated, flexible and fit forthe modern world. Trusts andsuccession law is no different andthe range of structures availablemeans that there will be a robustand flexible way for you to leaveyour wealth for future generations.We can assist you put in placewills, trusts, companies andfoundation companies. Our teamhas worked with high net worthand ultra-high net worthindividuals based in the CaymanIslands and further afield and wehave lots of experience insuccession planning for businessowners, retirees and others.

There are no inheritance or deathtaxes in the Cayman Islands but,depending on your personalcircumstances, there may taxconsiderations in other places.We regularly work with onshorelawyers around the world to makesure that the planning put in placehere is efficient and effective inthe other jurisdictions that youmay have connections.

13

Quality of life meets a high-quality business environment in the Cayman Islands.

14

Travel links

Cayman has a well-connected international hub. In Grand Cayman, the Owen Roberts International Airport processes over one million passengers each year including tourists, business visitors and residents.

The airport is located in the capital George Town and hosts several major airline carriers with a variety of route options to North America, the United Kingdom, the Sister Islands (Cayman Brac and Little Cayman) and the wider Caribbean.

UNITED STATES

MEXICO

Panama

GULF OFMEXICO

Spain

UK

Miami

Tampa

Cuba

Jamaica

CAYMANISLANDS

Atlanta

Washington D.C

Houston

New York

Boston 4 hrs 35 mins

4 hrs

3 hrs 10 mins

2 hrs 40 mins

1 hr 25 mins

1 hr 25 mins

3 hrs 7 mins

45 mins

London11 hrs

1 hrHavana

Toronto3 hrs 55 mins

Philadelphia 3 hrs 40 mins Chicago3 hrs 35 mins

Minneapolis4 hrs 25 mins

Fort Lauderdale

Baltimore

Dallas

Colorado

New Jersey

Charlotte

La Ceiba

3 hrs 32 mins

7 hrs 10 mins

Detroit3 hrs 35 mins

Roatan

1 hr 25 mins

2 hrs 57 mins

Denver7 hrs 20 mins

Relocations

15

Contact us

Practice Partner - Cayman

James BergstromPartnerT +1 345 815 1855M +1 345 516 [email protected]

Relocations Team

Fraser AllisterManaging AssociateT +1 345 815 1757M +1 345 323 [email protected]

Cline GliddenSenior AssociateT +1 345 815 1785M +1 345 516 [email protected]

Sophie WarburtonAssociateT +1 345 815 1709M +1 345 322 [email protected]

Amy BoddenLegal AssistantT +1 345 815 [email protected]

Ogier provides practical advice on British Virgin Islands,Cayman Islands, Guernsey, Jersey and Luxembourg lawthrough our global network of offices. Ours is the only firmto advise on these five laws. We regularly win awards forthe quality of our client service, our work and our people.Regulatory information can be found at ogier.com

ogier.com

Contacts

British Virgin IslandsRitter HouseWickhams Cay IIPO Box 3170Road Town, TortolaBritish Virgin Islands VG1110T +1 284 852 7300F +1 284 852 7450E [email protected]

Cayman Islands89 Nexus WayCamana BayGrand CaymanCayman Islands KY1-9009T +1 345 949 9876F +1 345 949 9877E [email protected]

GuernseyRedwood HouseSt Julian's AvenueSt Peter PortGuernsey GY1 1WAT +44 1481 721672F+44 1481 721575E [email protected]

Hong Kong11th Floor Central Tower28 Queen's Road CentralCentralHong KongT +852 3656 6000F +852 3656 6001E [email protected]

Jersey44 EsplanadeSt HelierJersey JE4 9WGChannel IslandsT +44 1534 514000F +44 1534 514444E [email protected]

London1st Floor99 BishopsgateLondon EC2M 3XDT +44 203 693 7178F +44 1534 514444E [email protected]

Luxembourg2-4 rue Eugène RuppertPO Box 2078L-1020 LuxembourgT +352 2712 2000F +352 2712 2001E [email protected]

ShanghaiRoom 3671Level 36 Shanghai InternationalFinance Centre Tower IINo. 8 Century AvenuePudong New AreaShanghai 200120ChinaT +86 21 6062 6294E [email protected]

TokyoNisso 23 BuildingSuite 801Toranomon 3-8-25, Minato-kuTokyo 105-0001JapanT +81 3 6430 9500F +81 3 6430 9501E [email protected]