The Cayman Islands,
three jewels of the Caribbean, are a top destination not only for
tourists. Famous for its role in the world of finance, the Caymans
have risen to be much more than some lush peaks of the ridges south
of Miami. Don't get taken away by their looks, however. It is easy to
fall for the Seven Mile Beach, rugged beauty of Cayman Brac or
cosmopolitan George Town. Retiring
in the Cayman Islands is admittedly for those with deeper pockets,
regardless of their age.

Retiring in the
Cayman Islands

Nowadays, everybody
knows what Grand Cayman is famous for. That is being free from taxes,
a magnet for hedonists, and its captivating nature. It all sounds
like a paradise, but the doors of paradise are not that easy to
reach. To call the Cayman Islands your retirement haven, you need to
fulfill certain expectations.

The Cayman Islands’
government is welcoming everybody who can contribute to this British
Overseas Territory. Even
as a retiree, you would need to prove you have substantial means to
support yourself and any dependents.
However, it may sound to you, it is only logical. The CI Government
doesn't have the resources to assist the elderly with the state
pension fund because there's no income from taxes.

According to
caymanresident.com, there are several types of permits allowing
residence. However, a permit specifically intended for retirees is
called Certificate
of Permanent Residence for Persons of Independent Means.
To become eligible for this permit, one must invest at least 1.6
million Cayman Island Dollars (close to 1.92 million USD) to buy
developed real estate
and pay the application fee.

Moreover, a wealthy
and healthy retiree
would need to prove he/she can weather the very high standard of
living on the islands.
Also, it is easy to understand why living costs are high. The Cayman
Islands have to import almost everything, and import fees have to be
high to compensate for the absence of the direct tax. If you believe
this is acceptable, head to one of the 12 gateways to the Grand
Cayman. Your retirement can begin.

What the Cayman
Islands can offer to a retiree?

Retirement in the
Cayman Islands begins with landing at the Owen Roberts International
Airport. It would take you about an hour to arrive from Miami and
around 3 hours from New York City. If you're moving from NYC, you can
at least get
cheap packing containers in New York.
Believe it or not, the standard of living is higher in the Cayman
Islands than in the rest of the world. Why don’t
you
save where you can?

Real
estate

Luckily for expats,
foreigners
can purchase real estate on the Cayman Islands with no limitations.
Once again, there
are no taxes.
If you plan to buy property for personal use, there won't be any
restrictions whatsoever. If you decide to rent your property, you
won't have to pay the tourist tax if you rent it to residents.
Furthermore, if
you buy vacant land, there are no time limits for construction and
development.

The Sister Islands are truly tiny and what they lack in real estate options they compensate for in leisure activities. Grand Cayman offers a much larger choice when it comes to real estate. Before you hand over your belongings to dynamicmoversnyc.com, contact real estate agents in Grand Cayman.

Neighborhoods on the largest Cayman island are unique and offer various residential options.

Health
care

There is no
state-run healthcare system on the Cayman Islands but every
resident is required by law to have health insurance.
However, there were proposals to the Government to consider free
healthcare for children.
The elderly would need it, too. For the time being, before CI
Government acquires new investments, a health insurance plan as such
must suffice.

The good news is
that the
Cayman Islands have excellent coverage in medical facilities and
top-notch practitioners.
Health City, for instance, is a modern hospital located in East End
in Grand Cayman and offers world-class, cost-effective care.

On the other hand,
patients with the most serious injuries or conditions are airlifted
to the United States. Everything that medical practitioners can't
treat in the Cayman Islands is taken care of in overseas hospitals.
This is done in the best interest of the patient because CI doctors
are not routinely performing certain procedures.

Leisure
activities

If your wealth
encompasses good health too, nothing is stopping you from living
large. The Cayman Islands have expats as a better part of their
community and it is highly likely you will find a lot of like-minded
people in the local social clubs, hobbyist groups, and cultural
avenues.

The
Grand Cayman shopping malls are mostly there for cruise ship
tourists, but even bargain-lovers can find something to treat
themselves.

If you are a fan
of sports, you will not miss any.
The most interesting might easily be cricket, field and roller
hockey, horseback riding and also a variety of watersports. You can
indulge in numerous year-round sports activities like walks and
marathons. Also, take your time to explore the Islands by bicycle or
motorcycle or enjoy the scenery from a helicopter. Botanic
Park,
Crystal
Cave,
Hell
geological site, Blue
Iguana Safari,
and the Cayman
Turtle Centre
are only a few of the many attractions.

Some of the most
beautiful beaches in the world are on the Cayman Islands but note
that topless
sunbathing is illegal
and there aren't nudist beaches. If you prefer being more active,
kayaking, sailing, and fishing will not disappoint you.

If retiring in
the Cayman Islands for you means shopping, remember that prices are
higher than in the USA
for the same reason the standard of living is high. Maybe you can't
avoid costly imports when it comes to apparel, electronics, and
jewelry, but locally grown food should be your first choice. Art
lovers are more than welcome to support local craftspeople and
artisans.

The best way to move
around the Grand Cayman is by car but don't forget that Caymanians
drive on the left-hand side of the road.

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