Caribbean, Cayman Islands, CJ Invest, News, Real Estate News

Cayman Islands Seeing “Tremendous” Response to Global Citizen Program

By: Caribbean Journal Staff

By Alexander Britell

The Cayman Islands is seeing a “tremendous response” to its newly-launched Global Citizen Concierge Program, which offers remote workers and their families the opportunity to apply to stay up to two years in the destination. 

“We’ve got thousands of people reviewing [the program],” Cayman Islands Tourism Minister Moses Kirkconnell told Caribbean Journal Invest. “We’re very happy about that and we expect it to continue to grow,” he said. 

Cayman Islands is a natural fit for a program that is capitalizing on a global trend of remote work, Kirkconnell said. 

The program mirrors similar star-up initiatives for remote around the Caribbean, in destinations like Barbados, Antigua and, most recently, The Bahamas. 

“We obviously believe with our infrastructure, our connectivity to the rest of the world, our cultural aspect, that we are a very good landing spot for high-net-worth individuals looking to work remotely and have the opportunity to do that,” he said. 

“We thought that somebody that had the opportunity to work remotely for 12 to 24 months would be a good opportunity to invite them and put the program in place,” he said. 

The program has a threshold of $100,000 in annual income to apply. 

“We’re not an inexpensive destination, but that would allow them to live a very comfortable lifestyle and enjoy the opportunity to have the different types of conveniences that are available to them,” he said. 

All incoming “Global Citizens” need to quarantine and isolate for their first two weeks upon arrival in Cayman. 

“There are a lot of people that, if they’re going to stay for a longer period of time, will accept that,” he said. 

The program is expected to be a boon for the long-term rental market, which, according to Cayman Islands-based Provenance Properties, of which there is a robust supply in the destination. 

It could also lead to a surge in real estate activity, with Cayman’s real-estate driven permanent residency program an option for those who end up deciding to stay longer than two years.

For more, visit the Global Citizen Program

— CJ

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