HSM LAW
Cayman Immigration: Section 64 Update
In a press release dated 15 April 2026, the Ministry of Caymanian Employment and Immigration announced: ”The Immigration (Transition) (Amendment and Validation) Act, 2025 introduces updated rules for work permit holders changing jobs, effective 1 May 2026. Work permit holders Read more +
HSM Tribute to Oscar DaCosta
It is with deep sadness that we mark the passing of our much‑loved colleague and friend, Oscar DaCosta, who died this weekend past following a courageous battle with brain cancer. Oscar obtained an LLB (Hons) Degree from the University of Read more +
The ‘X Trusts’ Case – The Privy Council Confirms Protectors May Have a Substantive Fiduciary Role
On 19 March 2026, the Judicial Committee of the Privy Council delivered its judgment in A and Ors (Appellants) v C and others (Respondents) [2026] UKPC 11, overturning the Bermuda Court of Appeal and holding that the protectors of the Read more +
Cayman Immigration Law Changes Will Take Effect on 1 May 2026
On Friday, 27 March 2026, the Government announced that the “Immigration Law changes will take effect on Friday, 1 May 2026”. It appears that the Act which was passed in December 2025 and amended, prior to coming into force on Read more +
Permanent Residence as a Person of Independent Means in the Cayman Islands
There have been recent reports in the UK Press about certain Caribbean countries “selling” citizenship. The BBC report that Antigua and Barbuda, Dominica, Grenada, St Kitts and Nevis, and St Lucia all provide Citizenship by Investment (“CBI”) for as little as $200,000.
While such programmes are not new, they occasionally attract controversy. For instance, in 2003, Nauru, a small Pacific Island, sold Citizenship to an individual who was later arrested as a member of Al-Qaeda.
More recently in April 2025, the EU Court of Justice ruled that the Maltese scheme which one could purchase Maltese Citizenship (and thus become a citizen of the EU) for 600,000 Euros was unlawful.
The Cayman Islands’ approach differs significantly and is unlikely to fall foul of similar legal or ethical scrutiny. Notably, obtaining Permanent Residence in the Cayman Islands as a Person of Independent Means (“PIMS”) does not automatically confer British Overseas Territories Citizenship (“BOTC”).
For $2million invested in developed real estate in the Cayman Islands, one can become a Permanent Resident of the Cayman Islands as a Person of Independent Means (“PIMS”). That means the individual has only crossed the first step into becoming a BOTC. To become a BOTC, the individual would still have to live in the Cayman Islands for at least 5 years and the Cayman Islands will have to be their home throughout that period. We are noticing several applications for BOTC are being rejected when the individual has spent more than 90 days outside of the Cayman Islands in the year proceeding the application, or more than 450 days outside the islands in the previous 5 years.
It therefore would be highly unlikely for a PIMS to become Naturalised as a BOTC if they had spent minimal time in the Cayman Islands.
For these reasons, it is believed that the current residency programme in the Cayman Islands is far more secure and superior to those of other countries. Investors to the Cayman Islands should be aware that a PIMS permission is only the first step to becoming a BOTC and potentially to becoming a Caymanian. It is not an automatic endpoint. This long-term and merit-based structure makes the Cayman Islands progamme a more attractive and credible investment opportunity compared to the other international offerings.