A recently conducted survey carried out by Tower Marketing revealed that nearly 31 per cent of the expatriates asked said they intend to eventually apply for permanent residency.
The survey sampled 400 respondents through calls to randomly selected telephone numbers. After being asked 14 demographic questions, respondents were asked five questions concerning aspects of the rollover policy, including whether they intended to apply for permanent residency in the Cayman Islands.
‘We decided to carry out the survey to obtain some information on what people were thinking on this topical subject,’ said a Tower Marketing spokesperson. ‘From a business perspective, we knew that the information would also be helpful to us, as there is currently no organised information on the topic.’
The survey was sponsored by two companies and subsidised by Tower Marketing.
Of the 120 expatriate respondents to the question, 37 people – or 30.8 per cent – said yes, they intended to apply for permanent residency, while 55 people (45.9 per cent) said no and 27 people (22.5 per cent) said the did not know at this stage. One person did not respond to the question.
The percentage of expatriates who planned on applying for permanent residency varied with the length of time they had been here. Of those here for less than a year, 30.7 percent said they would apply for permanent residence. But the percentage dropped considerably for those expatriates here from one to three years.
The percentage rose to 53 per cent for those expatriates here between three and five years, and was at 50 per cent for those expats here six years or more. The majority of expatriates surveyed had been in Cayman for three or more years.
Tower Marketing said it went to great extents to ensure the randomness of the sampling to gain maximum representation of the Cayman Islands population.
‘The survey utilises statistical best practices in the areas of sampling and methodology to provide a set of descriptive statistics on the level of awareness, perceptions and perceived effects of the [rollover] policy by 400 respondents,’ Tower Marketing said in a written statement. ‘This approach used by this survey is the most common approach utilised in many countries for the purposes of gauging public opinion or perception of key issues.’
Tower reported that the margin for error with the survey was 4.88 per cent.
All respondents to the survey – including the 65 per cent that were Caymanian – were also asked about their perceived impact of the rollover policy.
The most prevalent positive impact reported was that the rollover policy allowed for better planning, which was mentioned by 104 respondents. The most prevalent negative impact cited was that on the upbringing or care of children, which was mentioned by 183 respondents.