Can a US citizen move to the Cayman Islands?

*The Cayman Islands’ borders are currently closed to tourists due to COVID-19 and as such, regularly scheduled commercial flights are currently not available. Citizens and individuals with residency status can enter the country, provided they quarantine in a government-approved facility for 14 days upon arrival.

Should I move to the Cayman Islands?

Moving to the Cayman Islands is, for many, a lifelong ambition fulfilled. It’s an opportunity to live on a Caribbean island with fabulous beaches, balmy year-round weather, a high standard of living, a low crime rate and a community of international residents who extend a “Caymankind” welcome.

Is it illegal to move money to the Cayman Islands?

So moving your money to the islands where you pay 0\% should be illegal, right? Wrong. As long as you’re only using your account in the Caymans to avoid taxes and not evade them, it’s all perfectly legal—you’re only required to pay the absolute legal minimum of taxes.

How do you become a resident of the Cayman Islands?

Who is eligible to apply for permanent residence? Any person who has been legally and ordinarily resident in the Cayman Islands for a period of at least eight years, other than: the holder of a Residency Certificate for Persons of Independent Means; or. the holder of a Residency Certificate for Retirees; or.

Are the Cayman Islands a good place to retire?

Retirees appreciate Cayman’s excellent healthcare facilities, modern infrastructure, tropical year-round weather and nonstop flights from major cities in North America,” Nickason says. “The Cayman Islands is an ideal address for living an active lifestyle as a retiree,” Nickason says.

There’s no income tax, no property tax, and no company tax. Therefore, unless you have tax obligations in other countries, you could feasibly move to the Cayman Islands and reduce your tax burden to zero. In the Cayman Islands, it’s easy to live a tax-free lifestyle.

Are there any restrictions on US citizens entering the Cayman Islands?

There are restrictions in place affecting U.S. citizen entry into the Caymans. Visit the Embassy’s COVID-19 page for more information on COVID-19 and related restrictions and conditions in the Cayman Islands.

Are there any restrictions on travel to Cayman Islands due to covid-19?

Reconsider to the Cayman Islands due to COVID-19-related restrictions. Read the Department of State’s COVID-19 page before you plan any international travel. The Centers for Disease Control and Prevention (CDC) has issued a Level 1 Travel Health Notice for the Cayman Islands due to COVID-19 indicating a low level of COVID-19 in the country.

Can foreigners own property in the Cayman Islands?

They are however required to pay the taxes on their worldwide income in their home country. One of the main reasons people decide to move their money to the Cayman Islands is to avoid paying taxes. There is no restriction on ownership of property by foreigners.