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Retiring in the Cayman Islands

There are several requirements one has to meet before coming to the Cayman Islands to retire. Generally one has to be at least fifty-five years of age, although applications have been allowed under special circumstances at which time each case is decided on its own merits. One cannot have any children under sixteen years of age. A clean police record is most important, as is very good health insurance coverage.

Health

There are two hospitals on the Grand Cayman and one on Cayman Brac as well as many private practitioners and visiting specialists. There is also an air ambulance service on call to enable evacuation to the United States if so required.

Finances

An annual income of at least CIS 150,000.00 per annum without working in the Cayman Islands is required. An investment of CI$750,000.00, with at least CI$250,000.00 of that invested in real estate is required. These conditions are for Grand Cayman and vary slightly for the Sister Islands. If one is thinking of just coming for part of the year there are Timeshare condos available and many rental properties. To stay for short periods of time a person may come in on as a visitor and providing they can prove that they are financially able to support themselves can stay up to six months by periodically getting their passports restamped by the Immigration Department. If you know that you want to stay for six months a letter written to the Chief Immigration Officer before coming to the Island explaining why you would like to stay that long should get you the necessary permission.

Social Life

Having given the regulations here are some of the many advantages of living in the Cayman Islands. There is, of course, the climate. It is warm all year round, and for the occasions it is too warm we all profusely thank the inventors of air-conditioning. There is a varied social life for people that want it as there is an easy-going, friendly atmosphere making it easy to meet people. There are several excellent restaurants, a new complex including a cinema, several bistro type cafes and several stores is soon too open just a few steps away from the famous Seven Mile Beach. An active amateur theatre group entertains us four or five times at the Prospect Playhouse, and a various musical groups visit from time to time.   For the more athletic minded there is a tennis club, golf course and a large selection of water sports including deep sea fishing trips for the more adventurous.

 

Read more about Bostock, J D & Associates Ltd.