CI economy boosted by residency ‘sales’ for over 10yrs

| 05/04/2021 | 112 Comments
Cayman News Service
Work at the FIN development

(CNS): The Cayman Islands economy has seen a boost of almost half a billion dollars over the last decade from what is effectively the sale of residency to foreign investors. According to research conducted by Christian Henrik Nesheim, the founder of Investment Migration and an expert on the subject, Cayman has been one of the most successful jurisdictions at selling the right to live here to the world’s wealthiest citizens. While on the surface this is promoted by governments as positive inward investment, Johann Moxam sees a downside. He told CNS that this is contributing to the significant public concern about over-development, which is not benefiting Caymanians but is pushing up the cost of living.

Moxam, who is challenging Joey Hew, the current planning minister, for his George Town North seat, has spoken about this issue on the campaign trail. He believes this type of under the radar sale of permanent residency to rich investors was illustrated most recently by the Global Citizen Programme, which was sold to the public as a tourism project to fill the gaping hole in the economy left by the closure of the borders with long-term visitors. But in reality, he said, it is another route to sell rights to wealthy foreigners, fuelling the painful trap of unsustainable development that Cayman is now locked into without any exit plan.

“Selling citizenship is an economic tool to incentivize people to come and invest in your country at a time when they otherwise would not,” Moxam told CNS. “In 2021 the Cayman Islands does not need to do so. Cayman’s tax neutral status is the primary attraction and the quality of life and low crime rate help to drive people to our shores. When any policy harms Caymanians and appears geared towards population growth without a comprehensive plan, the time has come to reconsider the policy. Selling PR at the current price point is short sighted and undervalues the Cayman Islands and all Caymanians. The criteria and costs must be reviewed and increased if this initiative is to continue.”

Moxam said the current policy and population growth plans disadvantage Caymanians, who are unable to compete with people with the means, and are liquid enough, to purchase property. He said that this impacts the housing market and drives up the costs, which makes many Caymanians feel they are being left behind or not able to participate because the policy is geared towards bringing people into the country.

Through freedom of information requests in the Cayman Islands, Nesheim was able to calculate that, before the fees made directly to government from the investors who were able to buy their way to residency, Cayman raised at least US$400 million in the last decade from one just one route to citizenship.

“Include the issue-fees, which can run into the six figures, and the ‘substantial business presence’ investors, a category for which there is no fixed requirement, and the total figure over the last decade almost certainly exceeds half a billion dollars,” he said. Neshiem added that the “ultra-premium residency by investment programs” offered in Cayman turned out to have been “remarkably lucrative” for the islands.

The last two PPM administrations and the UDP government that preceded them all consistently touted their policies that made it very challenging for foreign workers to gain permanent residency and then status, which aimed to ensure that low earners do not become a burden on the state when they become Caymanian. However, both parties have been happy to sell the right to live permanently in Cayman to the highest bidder under the guise of inward investment.

Over the last decade Cayman has sold permanent residency rights to more than 220 wealthy people, who largely invested in property in order to achieve this, with only around 25 getting the right to reside here through an actual business investment that creates jobs.

Although most of the categories require people to invest in developed land in order to get the residency rights, those acquiring PR through purchase are not prevented from buying raw land as well. The programmes are being promoted by a number of realtors and developers, not just through listings but also through targetted videos aimed at very wealthy people all around the world.

Government currently provides five different ways for rich people to buy the right to reside in Cayman, several of which can lead to Caymanian status. All of them require a significant financial investment, but the trickle down benefit to the wider population is limited and many believe it is outweighed by the impact their investing in property has on the price of homes, as realtors and developers constantly cater to their needs rather than those of working Caymanians.

Projects such as the FIN Grand Cayman luxury condo development in South Sound and the Watermark on Seven Mile Beach, which received significant concessions, are the type of properties that wealthy investors buy, not just to acquire a profitable investment or a piece of paradise, but also towards PR.

Government is currently debating policies that could incentivize developers to build homes that Caymanians can afford, but the coastal development, which causes the most concern among ordinary residents, given the price of land, is focused on selling to high net worth foreigners that are simply buying a property here for investment purposes or as a luxury location to visit or for the option of citizenship.


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Category: development, Economy, Local News, Politics

Comments (112)

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  1. Rick says:

    Trust a politician to make a good thing look awful to get more votes. If you think expensive real estate is a problem, try cheap real estate that everyone can afford. Do you know how you get there? Well, you can always travel to our neighbour to the east and see how they accomplished this fantastic social reality. I live in an overly expensive two bedroom condo, but thank God I own it. However, if I sold it for the $250k or more that it is worth, I could always move to another country like my former home to the east and buy a 100 acre country home with everything green under the Sun for that amount, and still have money left over. But I choose to not do so. Now, Mr. Moxam, please explain to us why you think I do not choose to do so?

    • Anonymous says:

      Ugh, Rick. You just don’t get it.

    • Anonymous says:

      So what do us Caymanians, educated in a crappy educational system, not hired because of dodgy hiring practices do….I mean, you were lucky enough to move here…drive up our property values. Meanwhile…we are here struggling to survive and when a politician actually gets the struggle (which you can’t obvs) you play “riddle me this” with him. I mean…what do you think will happen here when Caymanians get hungrier and angrier… Maybe your home “back East” will end up being that safer option for you. Cayman is on the cusp my boi….and it better make some changes.

  2. Anonymous says:

    By building a subcenter in the east, we can reduce traffic congestion and land price hikes.

  3. Anonymous says:

    Those humans with skill and determination will build a life for themselves. Those without will sell their soul to survive. It is the law of this world we live in right now. Work hard and smart or beg for your lives to your chosen King. Most third worlders will never be able to afford life on their own. Only a wanna be MLA will buy their vote and give them life in return. Those who can work do not have to depend on handouts and can buy things like an awesome condo by the sea.

  4. Anonymous says:

    Fool’s gold?

  5. Anonymous says:

    That would explain why investors are spending a small fortune on appartments at Fin Michael Ryan’s awful development. I guess they won’t be staying there.

  6. Anon. says:

    What is happening in Cayman is simply this;
    1. The greedy politicians will do whatever is in the best interests of Dart and other developers, XXXXX.
    2. The developers continue to develop Cayman for wealthy foreigners to purchase more and more property.
    3. The government ignores public education, leaving it in the abysmal state that neither prepares Caymanians for work in the private sector, nor prepares Caymanians for tertiary education.
    4. The government continues to expand the public sector, so that undereducated Caymanians can obtain employment in government services.
    5. Because most Caymanians are employed by government, government can control Caymanian involvement in important issues that effect Caymanians (remember how government told government workers to stay out of the the cruise port debate? The people that WE elected to power are controlling US, and not the other way round!).
    6. Caymanians are shut out of the better paying private sector careers, leaving the lucrative private sector jobs for more foreigners to come here and buy property.
    7. Government pays Caymanian government employees from the work permit fees, and other fees that it collects from aforementioned foreigners.

    Sound about right? Our greedy political leaders are selling us out so that we are relegated to serving the wealthy foreigners. They all get RICH. We get to SERVE. Vote better Caymanians. Please.

    • Anonymous says:

      8. Writing condescending asinine comments is a fantastic hobby if you failed to live up to your own potential, or worse you have lived up to it and still feel the need.

      • Anonymous says:

        9. You are totally clueless about how the majority of Caymanians feel, so you add an “out of touch” comment to a list that is spot on.

    • Anonymous says:

      3. CIG spends more per pupil on education than almost every country in the world. By some margin. On average we spend 66% more per pupil in public schools than the private schools cost. Given our academic results in the public system there is clearly a problem but it’s not obvious that it’s governments fault; certainly not a lack of funding.

      • Anonymous says:

        It’s the Jesus aspect and family’s with a dozen half siblings.

      • Anonymous says:

        Lack of accountability. Lack of structure within the schools, just like in much of the civil service. How did garbage fees and PR fees not get collected for years? How did Gas Boy happen…Where is the therapeutic facility that they actually broke ground on? Lots of stuff looks good on paper in Cayman, but very little actually gets done.

        Remember Alden was our education minister. It was under his administration that the million dollar high schools were started and a “new” curriculum (The English curriculum copied, find and replace England with Cayman Islands, find and replace pupil with student). Yet 14 years later the students are achieving at the same level….And at the end of the day it is the government fault. Paying hundreds of thousands of dollars for consultants and then not implementing changes is the government’s fault. Having teachers tell you the issues for DECADES and not listening is the government’s fault. It isn’t like parents are keeping the best kids home and sending the bad ones to school. Parents are sending us the best they have and if the system does not work for the majority of students it MUST be changed.Why spent millions for subpar education?

        • Anon says:

          Insert clapping hands emoji here. Spot on.

        • Anonymous says:

          I guess you’re a teacher. I don’t get it. The schools are well funded, you’re better paid than your private school equivalents. Parents are sending you good kids. You’re there in front of a bunch of kids for x many years and at the end of it half of them are functionally almost illiterate and innumerate. What specifically have you been telling them for decades?

  7. Concerned long-term resident says:

    What ever benefit the Cayman Islands receives from selling residency to wealthy foreigners, it is far outweighed (in my opinion) by the downside of this practice. We hear a lot about the resulting increase in property prices, and the negative impact that has on working Caymanians. However, very little is being said about the negative impact this could have on our society. When the country locked down last year, many working expatriates had to return home. Most of the people that remained on island were Caymanians and longer-term residents. Many that remained commented on how the island seemed to return to the Cayman society that they’d remembered. Kinder, friendlier and willing to do whatever necessary to protect our fellow residents from COVID 19. We all got onboard with wearing masks and social distancing and obeying the rules put in place throughout 2020. The direct result of our efforts as a community, is the COVID-free life that we are all enjoying today. Contrast our relative success story to that of other countries around the world, particularly the US. The division over COVID restrictions has lead to further divisions in those societies, much to their own detriment. Can there be any doubt that many of those that are purchasing their Cayman Islands residency were reluctant to doing the right thing back home? Are we importing the same incivility and divisiveness that we see on the news everyday? Are these people all of a sudden going to change upon entering the Cayman Islands? What will the overall impact on our society be in the long run?

    I know many people reading this will say “Who cares?”. Well, look at what is happening in the US and other countries. Is that the type of society that we want here? I think not.

    • Anonymous says:

      “Can there be any doubt that many of those that are purchasing their Cayman Islands residency were reluctant to doing the right thing back home?”

      I see zero evidence to support that assertion. In fact I think it’s complete nonsense.

    • Anonymous says:

      To be frank most of these people are buying properties that are, in most cases above CI$2M. That market has nothing to do with the real estate market for the average person. That average person was unlikely to be buying a home in Crystal Harbour or on SMB anyway. Basically zero of these people are buying a home on a regular street in, say, Red Bay. So to say that the influx of these particular people is putting prices out of reach for the average person is to miss the point.

      One bad thing about all these people moving here and the number of construction workers working on these high-end developments is the increased traffic congestion.

      The easiest way to benefit the average Caymanian would be to take some of the insane money the government is making on residency fees and stamp duty and put it into building more roads and developing a proper mass-transit system. That will improve lives for Caymanians and expats, rich and poor in equal measure.

    • Anonymous says:

      “What ever benefit the Cayman Islands receives from selling residency to wealthy foreigners, it is far outweighed (in my opinion) by the downside”

      So you don’t know what the benefit is, you just know it’s outweighed by the downside. LOL. Do you have any idea how ridiculous that sounds?

      • Anon. says:

        The downside is the importation of American incivility. I think the commenter made that clear.

        • Anonymous says:

          Obviously. The point is if they don’t, by their own admission, know the benefits how can they possibly weigh them against the supposed “importation of incivility”

    • Anonymous says:

      Why does all of the writers seem concerned about the 220 high net worth individuals that over the past 10 years have acquired PR who spend millions that they have made elsewhere to buy the right to live in Cayman where they will continue to spend money in our economy. They are not working or buying properties that Caymanian would be buying. What we should be worried about is the 2000 annually who get PR through the point systems after having worked here in jobs and buying properties that Caymanian could be purchasing. These are competing directly with Caymanians for property and employment and will all qualify as Caymanians and be entitled to the social safety net. At 2000 a year we will very quickly get to the 100k population regardless whether it is intended or not.

      • Anonymous says:

        How many of those people getting PR through residency ever go on to NAU? A handful at best and the only way they ever got enough points was to marry a Caymanian or have kids with one. The vast majority of people getting PR the long way are in professional jobs to ever get enough points to stay and will never ever qualify for NAU or any other government assistance.

  8. Anonymous says:

    Well maybe he should have spoken up when he SAT ON THE BOARD.

    • Anonymous says:

      What board?

      • Anonymous says:

        Immigration – PR/BSP

      • Anonymous says:

        The chairman of the bored.

        • Johann Moxam says:

          Please note that facts matter. I was never the Chairman of the BSPB, I was a member.
          I was not a member of the Central Planning Authority so could never opine on any planning application matters.

          I understand it’s the silly season but this narrative being pushed has no substance or makes no sense. Good luck and try again.

          Best regards

          Johann Moxam

  9. Naya Boy says:

    What a friggin indictment on the last three administrations one by the UDP and the PPM unity last 8 years look around Cayman dilapidated districts exclusive neighborhoods for the political elite and their investor friends Quadrupled paved roads and SUV’s for the government a black Range Rover parked outside a bar in breakers trips to Ascot for minister of development Mr Hew and his elite friends $100,000,000,000 Caymanians Ask yourself What does Cayman have to show for it 11-0 trouncing by Canada because our football officials wanted to be just like our government mafia who want to be Rich. Cayman we have got to do better than this . That is the budget of some large countries . Cayman you have to vote for those who will act in our best interest on 14th April 2021 Vote for Change Cayman. We Can do better than this ! The PPM & Unity Pirates and opposition are an absolute Disgrace to this little island.

  10. Anonymous says:

    $100,000,000,000???

    Seems legit

    LOL

  11. Anonymous says:

    so…where does all that money go..?

    • Anonymous says:

      It goes to pay for all the services you take for granted without paying income tax.
      Schools hospitals, fire service, roads, court system NAU and so on….idiot.

      • Anonymous says:

        Most goes into political pockets.

      • Anonymous says:

        That’s obvious – the point I was trying to make is that most of those services are terrible and the island is crumbling with dump fires, air/water pollution, flawed public transportation, etc…

  12. Anonymous says:

    And yet cayman is the envy of every island. What would Anguilla, Barbuda, or hundreds of other islands give to have the high quality investors and developers that Cayman has? Every island would love to have kept their borders closed, while still nearly breaking even. All that construction is due to the Dart’s, Wellon, and countless other residents who “bought” or more rightly EARNED their stay. The infrastructure is world class because of the foresight of these millionaires and billionaires. We are lucky to have them on our world class island.

    • Anonymous says:

      The infrastructure is not world class. If it were Alden would not be raiding the Environmental Protection Fund for dump remediation or public beaches.

      • Anonymous says:

        Fixing the biggest environmental disaster on our islands seems like exactly what the environmental protection fund should be for used for! What concerns me is why our Department of ENVIRONMENT have done absolutely nothing about the dump

        CNS: The DoE has nothing to do with the dump. That falls under the DEH. Here’s the difference between the two departments explained.

        And you are blaming civil servants for policy, which is also just wrong. Finding and funding a solution to the dump is the responsibility of the politicians in charge, i.e. the government.

    • Anonymous says:

      Infrastructure is world class? Have you tried riding a bike in Cayman? Have you seen how neighborhoods and roads flood? No, you probably don’t stray too far from your million dollar condo complex or elite neighborhood. How about that public school system…how has that been doing? Is it, in fact, world class?

      What is the point of “world-class” anything in Cayman when Caymanians are left further behind. We can’t even enjoy our beaches anymore….people blocking off beach access. The fuel surcharge on electricity and planning requirements further hold Caymanians back…

      In my opinion, all of unna can leave, and I would be quite happy with my quiet beaches and almond trees. Not like our lot has improved so much with all of this “world class development” of bright white boxes that most Caymanians can’t afford.

  13. Anonymous says:

    220 people over 10 years, over 10% of which are creating jobs for Caymanians. This doesn’t sound like a disaster Mr Moxam. While he didn’t offer solutions, as normal, at least Moxam didn’t say to take cash for my vote in this article. Not saying Joey is much better but I think he has done ok so far. I like the George Town revitalization and that the dump is finally getting fixed. We should have a national holiday to celebrate fixing the dump!

    • Anonymous says:

      GT revitalization will only happen when DART does it not Joey Hew or ppm.
      The dump is Only getting fixed because of DART

      Joey Hew is not qualified to continue as a MP he has sold out Cayman to developers that own him.

      Vote for a change for the better In GTN.

      Vote for Johann Moxam
      http://www.johannmoxam

  14. Anonymous says:

    Time to raise the $2.5M threshold for investment. It has been in place for 10 years…should be increased to $4M at least. That may slow down some of this wild property value increases.

  15. Anonymous says:

    I don’t need to buy residency but how much for a seat in the legislative assembly? 100k a year for just opening my mouth sounds like a great investment for me being a young Caymanian.

  16. Anonymous says:

    What these morons fail to understand is our economy is boosted by our natural environment. Without our natural beauty we have nothing.

  17. Anonymous says:

    Johan is always strong on criticism but weak on solutions. Don’t tell us that it is a bad program; tell us what you are going to do to fix it, replace it or just scrap it. GT North before you support Moxam be sure to find out his solutions for ..high cost of living; rapid development; building setback from the sea along Seven Mile Beach; education; the re-opening of our borders (will he follow the science and put health before wealth, or lives before dollars); or the size of the Civil Service (will he be making layoffs?). Johan has failed to answer any of these ; instead he tells us all the faults of the Govt. He accuses them of having no plan but has yet to produce one of his own. Where is your plan Johan.Show us before we elect you and have to wait 4 yrs while you try to come up with a plan.

    • GT voter says:

      The truth clearly offends the willful blind that want to continue the nonsense. Moxam has done more to share the facts and offered solutions than his unqualified opponent that does not deserve to be re-elected. Moxam is a champion for transparency and all Caymanians.

    • Better must come says:

      11:46 wa you drinking bredrenn, did you not read this from Johan in the article “ The criteria and costs must be reviewed and increased if this initiative is to continue.”

      Stop the scandalizing and vote for a better way forward
      Iin these islands for “all” the people”

    • Anon says:

      Look at his campaign website. Solutions are there for all to see.

      http://www.johannmoxam.com

  18. Truth says:

    Excuse me, but who the hell gas benefited from this.

    Must be a hole in the bucket because I sure as hell have not.

    In fact shit around here only got more expensive.

    Young Caymanians can not get jobs.

    So who the hell is reaping the benefits……

    The EXPAT workers who come here in droves to get their friend to take out a work permit for them and get jobs on their own…. Then send the money back home…..Thats who…

    The Politicians and those in power have benefited by getting cuts from these deals….

    The regular Caymanian aint getting shit. So as far as I am concerned its all a fat load of horse shit.

    And they can stuff it where the sun dont shine, even in their families…..

    • Anonymous says:

      Cayman would be a better place without you.

      • Anonymous says:

        Spoken like a true expat. “Cayman would be better without the Caymanians”. Everything Truth said is, in fact, true. Go back from whence you came.

  19. Anonymous says:

    $100bn? $400m? These numbers are nonsensical without explanation; they might as well say zillions.

  20. Anonymous says:

    Could benefit Cayman a trillion, but I’m in my 20s and still have very little prospect of ever owning part of my own Islands.. along with many others my age.

    And then they wan tell us we na breeding enough!!! ROFL you paying for it??

    • Anonymous says:

      Perhaps if you concentrated more on your education, learned how to write properly etc. you would be more likely to get a good job and be able to buy back from those evil foreigners what your grandparents sold.

  21. Homeowner says:

    People, I have never seen so many huge construction projects happening at the same time! It scares me! What is happening to my once peaceful island? Is this the increase 100,000 thousand population plan the government was talking about to bring more customers on the island? We have a traffic, dump, and beach access problem! Why must government bow to the money-makers all the time? I am sadden to think that in the next 10 to 20 years, Cayman will become a stressful overcrowded place to live!

    • Anonymous says:

      There are about 8 cranes that I can see outside my board room window. It’s astonishing that we are allowing anything new to be built when we have so many dilapidated ones that should be redeveloped first.

  22. _||) says:

    You should be Caymanian to be able to buy property.

    You shouldn’t need to buy property to become Caymanian.

    • Anonymous says:

      Lol. Great policy. You just put every Caymanian with a mortgage underwater and bankrupted CNB and Butterfield.

      • Anonymous says:

        Butterfield was quick to throw half of their local staff under the bus when hard times hit. I’d tell them to tek their licks.

  23. Anonymous says:

    So much money injected into the economy. Sounds wondereful if it wasn’t for the fact it went into a small fraction of a percent of the population outside the government. I’m sure you and me didn’t benefit from it.

  24. D D watler says:

    Ritchie migrants will create a subculture and strata only for them. That in itself is no a problem because mobility and stratification is part of the battle among forces to be part of the class among locals. But how can a local mobilize there and be of that strata
    Is the question that we must ask our self
    Because they will use their influence to position their children in those areas where wealth and power can control inferior social class .

  25. John says:

    How many Caymanians are unable to buy a home because a foreign millionaire buys a $6 million condo at Water Colors? None. In fact that foreign buyer is injecting money into the economy without taking a single job or home from anyone.

    That condo purchase came with a Stamp Duty bill of about $500,000.
    If they bought a nice car to use here that’s another $30,000 to the government. If they choose to apply for permanent residency that’s $100,000 more for the government.

    All so they can live here and spend money here in restaurants, on groceries etc.

    What is the average Caymanian deprived of if they spend money on champagne and caviar?

    Nothing.

    Mr. Moxam is peddling the politics of envy. Don’t fall for it.

    • New Caymanian says:

      He is presenting the reality on the costs of living and increasing costs of housing that most Caymanians cannot afford. Look at the costs in the real estate it is crazy. They are not building for Caymanians. Mr. Moxam is stating and sharing facts that is not envy that is the reality for many that do not live in a bubble.

      • John says:

        It’s a similar problem in central London. Only Russians, Arabs and Chinese can afford homes in prime London, Knightsbridge, Kensington, Mayfair etc. Yet those same rich foreigners are paying a lot in Stamp Duty into the government coffers to pay for the schools, police and National Health Service that benefits every British citizen.

        My point is that we should be encouraging wealthy people to come here and spend money. The alternatives are:

        Local income taxes.
        or
        Less money for the government to spend.

        How do you provide lower priced housing:

        1. Pay less for raw land. The price depends on supply and demand.

        2. Pay less for construction. Also prices that are mostly out of our control.

      • Anonymous says:

        “They” are not building for Caymanian? So buy a plot of land, build some houses on it and sell them only to Caymanians… no thought not.

  26. Anonymous says:

    Take away hope for younger people and it will breed resentment and division. After that the crime will follow.

  27. Anonymous says:

    So what the majority of those leaving comments is that it is a bad thing to have wealthy clientele coming to invest in the Island and its people?

    • Anonymous says:

      That’s the problem they don’t. Moreover they come here and create their own little empires moulded to their vision only. The absence of any true Caymanian development master plan is like a flame to a moth to them. Unless a person who values where Cayman came from and where it needs to go, a person of true integrity, foresight, consideration and sustainable vision steps up we will forever be a sitting duck to the ones that sell us out and the ones that pave paradise.

  28. Anonymous says:

    What we need is more poor people, not more rich people…

    • BeaumontZodecloun says:

      No. What we need is more equality. We used to defer to Caymanians, and rightfully so. Now, anything can be purchased, which leaves Caymanians in a position of competing for their own assets, and often selling their property, just to stay in the game.

      Yes, we need expats. Caymanians first. No more people, we are full up. We need to focus on infrastructure/transportation upgrades that allow us all to travel throughout the island, instead of wading through ever-increasing congestion.

    • Anonymous says:

      It doesn’t have to be either.

      A country’s real success comes from the health of its middle class; the working class.

    • Anonymous says:

      … I’ll interpret your intent:

      “What we need is more stupid people, not more intelligent people…”

      Curious if you are a Caymanian, or an expat with financially obtained residency. Just asking!

    • Anonymous says:

      Better to be poor and happy than poor and unhappy

    • Anonymous says:

      What we NEED is to find a balance.

    • Anonymous says:

      Wow you guys seem to have missed the sarcasm.

    • John says:

      I assume your comment was intended to be sarcasm.

      Having more rich people, who are IMPORTING their wealth not taking it from anyone in Cayman, is to the island’s benefit.

  29. TopaZ says:

    Yet we have substandard roads sport facilities etc people begging people out work ,realestate agents from Timbuktu living large whilst Caymanians are a mortgage payment away from foreclosure. No doubt about the amount of money dumped into our economy which our political apparatus have splurged on themselves and supporters and friends. Look around Caymanians see exactly who has benefited from this and now telling us they are going to do better every 4 years . They are are disgrace and are completely full of $#%!Time to Vote Them out Cayman! Vote Cayman because their benefactors will to maintain this terrible Status Quo at all cost !

    • Anonymous says:

      I cannot begrudge anyone from Timbuktu being here. They’re in the midst of an Islamic guerrilla war.

      I wouldn’t be against sending realtors there though.

      • TopaZ says:

        Yes and if we continue to allow those from Timbuktu to come here unabated we will suffer the same fate or worse ! George Speight 2000 Fiji ?

    • Anonymous says:

      Where is housing that locals can buy? Where is a mall that locals can afford to shop?

    • Anonymous says:

      Substandard roads and sports facilities? Are you kidding me? That’s the most ridiculous thing I’ve ever heard said about Cayman! I assume you’ve never left island.

  30. Anonymous says:

    Selling Caymanian PR and Status is wrong! PPM have no shame

    • Life's A Beach says:

      No, you are wrong- these are limited term residency grants only, are not permanent and do not confer Caymanian Status. The only route to Status other than the long hard road via term limits and PR rights is by Cabinet grant, and this is for exceptional cases only. So relax, Caymanians- all these new residents can do is pay fees and spend money locally (hopefully a lot of it)…

      • Anonymous says:

        No, you’re wrong. The residency by investment 2M gives you the ability to get Caymanian status in 10 years instead of 15.

  31. Anonymous says:

    Developers like Dart and Wellon control this government especially Alden McLaughlin and Joey Hew. They all needs to get voted out on Election Day.

    • Anonymous says:

      Don’t forget Imperato. Check where Joeys signs are on West Bay Road. Galleria and Westshore both Owned by Imperato.

      Shoring about the vote…got to keep those politicians sucking on the developers tit.

      Has anyone stopped to think how much the PPM has been spending on digital and regular signs, stages, T-shirts, Jingles, food, DJ’ and I could go one..

      Someone is paying for these things and I would bet that not one penny is coming out of the politicians pockets..

      • GT East says:

        West shore and Galleria and many condo developments where built by the legendary Norberg Thompson…who was way ahead of his time …he was caymanian through and through but nobody really wanted to get on board and continue the development by caymanians for caymanians ….the Ryan’s and Joe E and Fraser W got in because they could .The Thompson family did once own a lot of the land that Camana Bay is built on and and Norberg was a Dart fan he probably wished his own people could have done something similar but they didn’t

    • Anonymous says:

      They also provide income to the government so that you can live the good life in a civilized country.

  32. Anonymous says:

    Hi CNS, the headline doesn’t make sense nor does the actual article.

    The $400m figure seems out of line with 220 people having received the PR right. Is this the amount they spent on buying property? Or is it the fees paid to gov’t? $400m divided by 220 is $1.8m per person and that amount was not “raised” by Cayman (whatever that means).

    Further $100b is a lot of money and given that total 2020 Real Estate sales in the Cayman Islands were less than $700m according to ReMax I’m not sure where this ties in.

    You may be anti-immigration or anti-investment but people that are investing large sums of money into property for whatever reason want some assurance that they can access and use the property.

    Looking at the math 220 people out of our estimated population over a decade is a very small number.

    Most people are getting PR the “Old Fashioned” way by coming here working and establishing ties to the island through investing an being part of the community. There is probably a better story to be found looking into that aspect of the real estate market than an average of 22 people per year “buying” residency and then needing to wait years and in some cases not being able to become status holders.

    • Anonymous says:

      Yeah, but facts and stories about expats who actually went through the old fashioned PR process don’t rile up the populist vote around election time.

  33. Anonymous says:

    Thanks Johan for pointing out the reality for most Caymanians that are struggling in our own country

    • Anonymous says:

      2.27pm Johan is excellent at pointing out other peoples mistakes. The problem is he offers no solutions, which raises the question..what will he do if anything.

      • VOTE MoXam 4 GTN says:

        The solutions Mr. Moxam presents are not liked by the developers that control this government and the status quo who want the system to remain unchanged. The narrative by critics is he offers no solutions which is incorrect. He does not follow the BS and challenges the current system and players that are getting all the benefits.

        He promotes a balanced approach with a clear vision for a sustainable future for these islands. Most Caymanians are being left behind and the inequality will impact quality of life issues for all. He is the best choice for GTN this election.

        http://www.johannmoxam.com

      • Anonymous says:

        Read and review the sections and see for yourself instead of making up stories.

        http://www.johannmoxam.com

  34. Anonymous says:

    Thank you Mr. Moxam

    • alaw says:

      I think this will one day call for a REFERENDUM for the IMMIGRATION of Poor People Versus Rich People
      I think that should resolve the Matter!

  35. Anonymous says:

    PPM are selling out Caymanians

  36. Anonymous says:

    Johann Moxam is the only candidate that speaks the truth and understands the issues Caymanians are dealing with like housing costs.

    • GTN Voter says:

      I pray voters in GT North will vote for Moxam. Please give him a chance because Caymanians cannot afford another four years of Joey Hew selling out the country and serving his masters at Camana bay and all the other developers he represents. Mr. Moxam is the better candidate and qualified for the role Joey had his chances over the last eight years and blew it. The time for change has come.

      Vote MoXam for GT North on Election Day.

    • Anonymous says:

      Johan Moxam is enjoying his time criticizing everything anyone else has done.
      His apparent wisdom is nothing more than shoulda woulda coulda hindsight..Which he is presenting as wisdom , in his hunger for power.

      Don’t be fooled folks, talking the big talk won’t create jobs and opportunities for Caymanians.

    • Anonymous says:

      He is chameleon

    • Paradise Cost says:

      I’d hate to take the puff from Johan’s pitch, but here is the real reasons why it is getting more and more expensive for Caymanians to purchase property in Grand Cayman- 1) current owners of land tracts are enjoying higher and higher competing offers from developers looking to develop and sell at higher margins, and especially closer to town. Also, 2) construction costs are higher because of commodity cost increases in the US (steel, lumber, sheetrock etc) and the inconvenient imposition of the Building Code with its inflexible and expensive compliance requirements…

    • Anonymous says:

      Wrong. Check Alric Lindsay!

    • Anonymous says:

      He and Ezzard are the only ones with the backbone to stand up and speak out against Government.

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