Welcome mat out for property owners and business
(CNS Business): A number of changes to the immigration regulations are expected to make life easier for wealthy visitors, business people and property owners coming to the Cayman Islands. Policy directives that were recently approved by Cabinet will allow business travelers to remain in the country for up to 10 working days without the need to obtain a work permit and allow those who own property in the Cayman Islands and can demonstrate their wealth to stay for up to six months without having to check in with the immigration department for visa extensions. The directive announced in October was published on the government’s Gazette on Friday.
Joseph Hew, Councillor for Tourism and Transport, explained, “Once the directive is implemented, immigration officers may grant a six month visa where the person can demonstrate they own a home in Cayman Islands where they are intending to stay during their visit, and that they are able to support themselves without the need for employment during their visit. In addition to the new six month visa directives, those visitors who are here for the purpose of attending a meeting with a local entity will be entitled to stay up to a maximum of ten days without the need to acquire a work permit,†he added.
The changes are expected to be welcomed by the business community, holiday home owners and developers. The people behind the proposed Ironwood development were the first to express their pleasure and welcome the changes. They said it would be advantageous to those people that they will be hoping to sell their properties to when the much anticipated golf focused resort gets underway.
“Many of the purchasers at the Ironwood development will be retirees or investors who do not work but wish to spend time enjoying their properties and the relaxed, sunshine lifestyle which Ironwood and Cayman will readily provide,†spokesperson Denise Gower said following the gazetting of the new regulations on Friday. “The ability to stay for a six- month period without needing visa renewal will considerably enhance the desirability of Ironwood and the Cayman Islands as a destination of choice for property owners and investors.â€
Another service that immigration is expected to offer business visitors to Cayman is a pilot VIP programme to fast-track them through both immigration and customs, which will be a paid-for service but government has not yet revealed the price tag or the details of how it will work.
Category: Local Business
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