It is difficult to recall life before the COVID-19 pandemic ravaged the globe; exhausting lockdowns, vigorous social distancing guidelines, continuous mask-wearing, and a relentless dependence on online services shape-shifted our lives and made them unrecognisable. Unless you’re in the Cayman Islands, that is.
While this group of islands in the Western Caribbean is considered one of the most attractive places in the world, we won’t bore you talking about its crystal-clear waters, sandy beaches, luxury resorts, sunny tropical climate, or its world-class cuisine; Google Images and YouTube do that for us. The true allure of the Cayman Islands is its high standard of living.
One of the safest and easiest places to live in the world, let alone the Caribbean, the Cayman Islands serve as a microcosm of how the world could be. Its infrastructure is second to none, its economic landscape is bustling and residents are accomplished and educated.
A COVID-free safe haven
In the atrocious year of 2020 the Cayman Islands proved to be much more than just an aesthetically pleasing economic power hub; it arose as a safe haven in a world gripped by fear. The Cayman Islands’ handling of the pandemic was steady, decisive and timely. The British Overseas Territory has only had 416 cases since the beginning of the outbreak, the majority of which were managed in quarantine facilities and as such local transmission has not occurred since July 2020.
Due to robust quarantine measures and safety protocols for returning residents, the community itself largely has no social distancing regulations, imposed lockdowns, or mask-wearing (except in healthcare facilities). The population is living life as it was intended; free of constraints.
Successfully containing the virus
One may argue that islands had an easier task when it came to imposing travel bans and containing the spread of the virus, which, to some extent is true. Yet the Cayman Islands exceeds that perceived notion; comparing it to other islands such as the Bahamas (8,311 cases) or Malta (20,047 cases) among many others, it shows the adeptness of the Cayman Islands in handling the pandemic.
This is in no way an indictment of other countries, rather a commendation of the extraordinary competence of the Cayman Islands in handling a global pandemic that other nations could not contain. It is an accolade of awareness, capability, and efficient management and cooperation of both the government and residents that has made the Cayman Islands one of the most sought-out locales in a COVID world. Those with those with the resources to do so are flocking to Cayman from all around the globe.
The Cayman Islands continues to thrive
The islands have one of the highest GDPs per capita in the world at US$85,975 (more than double that of France), which is mainly derived from financial services.
The Cayman Islands perfected balancing between economic sustainability and the health of its locals. Cayman was able to avoid an economic catastrophe and maintain the wellbeing of its population through diligent planning and execution of preventive measures.
The excellent handling of the pandemic is not the only reason the Cayman Islands is considered one of the best places in which to live, either.
Access to quality healthcare and education
- Through a comprehensive and expertly maintained infrastructure, its residents are set for life when it comes to the essentials. The Cayman Islands has 4.5 doctors per 1,000 residents, nearly double the figure of the United States, and have the medical institutions capable of delivering the best healthcare services possible, including the state-of-the-art Health City Cayman Islands facility. Its education system is also top-notch, as Cayman has a choice of excellent secondary schools, some that follow the British system (GCSEs and A-levels) as well as Cayman International School, which delivers the IB Diploma. Cayman’s proximity to the USA means its residents have a portal to the entire world for higher education via a 70-minute flight to Miami.
A superior business landscape
- Its business landscape also proves unmatchable, with some of the best financial and professional institutions in the world having large offices in Cayman, these include Royal Bank of Canada, Scotiabank, EFG, Bordier, KPMG, EY, Deloitte and PWC. Doing business in the Cayman Islands is simple, efficient, and most importantly, cost-effective due to the its tax-neutral status. There are no income, inheritance, corporate, capital gains, direct sales or recurring property taxes. Include the fact that the country has no imposed lockdowns or restrictions due to coronavirus, it is largely business as usual on these Caribbean islands.
High standard of living
- As Cayman provides one of the best quality of living standards, made possible by attracting the best the world has to offer, it is attractive to those seeking to live there full time. Through the Cayman Islands’ residency-by-investment (RBI) programs, the Certificate for Persons of Independent Means which requires a real estate investment of US$1.2 million and the Certificate of Permanent Residence for Persons of Independent Means which entails a US$2.4 million property investment; the Cayman Islands have a direct and simple route for high-net-worth individuals who wish to not only grow their investment but obtain a second home in one of the best liveable countries in the world.
For more information about securing residency in the Cayman Islands contact Sue Nickason, VP Marketing and Sales at Provenance Properties, the official Christie’s Real Estate affiliate in the Cayman Islands. The simplest and quickest path to permanent residency in the Cayman Islands is through the purchase of developed real estate valued at US$2.4 million or higher. For example, purchasing this three-bedroom luxury beach home at The Residences at Seafire qualifies buyers to apply for Cayman Islands residency if all requirements are met. The Provenance Properties team has a wide range of listings available to help satisfy this requirement while finding your ideal home.
It has been a long time since a business meeting started with a handshake or a family gathering was adorned by hugs, unless, of course, you are in the Cayman Islands.
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