Starting Tuesday, fees payable for workers who have been granted key employee designation under the Cayman Islands Immigration Law will be
reduced by half.
The Department of
Immigration has confirmed that lowering the fees for existing or new key employee designates
followed a Cabinet decision on the matter.
Currently, key employee fees are based on the job category held by the worker and are charged as a one-off fee in addition to a person’s annual work permit fee.
Designation of key employee status allows a foreign worker to remain in the Cayman Islands long enough to apply for permanent residency – the right to stay in Cayman for the rest of their lives.
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Finally some good new for business! Can you confirm if those that have had to pay this double fee already can claim a protion of the Key Employee grant fee back?
Checked the below question with Chief Immigration Officer Linda Evans. Here was her response:
"The relevant Regulation is being gazetted today (Monday) which brings this change into effect so only those key employee applications approved from today onwards would be subject to the 50% cut in fee."