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 access to Cayman’s national vaccination roll-out, the DoT said programme participants are considered “legal and ordinary residents and therefore are able to access the vaccination”.
This Monday, new quarantine protocols have been introduced, reducing the mandatory isolation period from 14 days to 10 days for vaccinated travellers; this also includes Global Citizen Concierge programme applicants.
Travellers who have not been vaccinated will still be required to quarantine for at least 14 days. Remaining in force as well will be the requirement to provide a medical certificate showing a negative result of a PCR test taken within 72 hours of departure, and PCR test upon arrival in Cayman, whether an individual is vaccinated or not.
Under the requirements of the Global Citizen Concierge programme, applicants must earn a minimum income of US$100,000 annually if applying as an individual, or US$150,000 annually if applying with an accompanying spouse or civil partner. If the applicant has dependents, that minimum income increases to US$180,000.