Reinsurance: Considerations for Hedge Fund Managers evaluating forming reinsurance vehicles in the Cayman Islands
- Residency Certificate (Substantial Business Presence).
- Certificate of Direct Investment. This residency right allows a person to reside in the Cayman Islands
- Certificate of Permanent Residency for Persons of Independent Means. This residency right affords the holder residency for life. The holder of this type of certificate may also apply to have the certificate varied to allow the holder the right to work for any employer in the Cayman Islands. Ordinarily, permission is restricted to a particular occupation. To qualify for this type ofresidency certificate, the applicant must (amongst other criteria) have invested a minimum sum of CI$1,600,000 (US$1,951,000) in developed real estate in the Cayman Islands. There is a quota of 250 such certificates in total that may be granted per annum.
Published October 12, 2014
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