International residents shell out $142K for Cayman entry

Global citizens shell out $142K for Cayman access

Cayman’s Global Citizen Concierge programme has netted KYD $142,154 in application fees since it began last October, according to statistics from the Department of Tourism.

The programme, which was first introduced as a measure to attract long-term visitors while the jurisdiction’s borders remain closed, allows successful applicants to live and work remotely in the Cayman Islands for up to two years.

Applicants are required to provide proof of health insurance cover and pay a non-refundable annual fee of KY$1,224 for up to two people, with an additional KY$417 yearly per dependent.

For the purposes of this story, the Cayman Compass used a conversion rate of KYD $1 = US $1.20.

The DoT, responding to a Cayman Compass request for statistics on the programme, said the numbers “are constantly changing”.

As of 17 March, 129 applications, comprising 287 people, have been received under the initiative. Of that number, 73 applications, covering 178 people, have been approved.

As for…