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| | Acquisition of Permanent Residential Status in the Cayman Islands |
 | | Permanent residency is granted on the basis that the applicant has sufficient private income to enable him/her, and family, to reside in the Islands without employment here being necessary. |
 | | A resident may, however, hold shares in a local company, subject to any other laws concerning the ownership of shares, and may hold a directorship in such a company, without the need for a Gainful Occupation License, provided that the directorship does not entail day-to-day management of the company's affairs. |
 | | A permanent resident, given permission to work, will be required to pay an annual fee equal in the amount to that required for the relevant gainful occupation license. |
| cayman.com.ky /reside.htm (1163 words) |
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