Certificate of Direct Investment

47. (1) A person who — (a) has made or proposes to make, an investment equal to or greater than the minimum prescribed amount in any licensed employment generating business or businesses in the Islands, whether already existing or a new venture, and in which the person does or will exercise substantial management control; (b) has a substantial business track record or an entrepreneurial background, including specific professional, technical and other knowledge relevant and necessary to carry on the pertinent business or businesses; and (c) can prove — (i) that that person has available to themselves and under that person’s personal control funds to the value of the proposed investment amount; or (ii) that that person has already invested the minimum prescribed sum of money in a licensed employment generating business in the Islands, may apply to the Director of WORC for a Certificate of Direct Investment but such Certificate shall not confer any right to a licence under the Local Companies (Control) Act (2019 Revision) or the Trade and Business Licensing Act (2021 Revision).

47. (1) A person who — (a) has made or proposes to make, an investment equal to or greater than the minimum prescribed amount in any licensed employment generating business or businesses in the Islands, whether already existing or a new venture, and in which the person does or will exercise substantial management control; (b) has a substantial business track record or an entrepreneurial background, including specific professional, technical and other knowledge relevant and necessary to carry on the pertinent business or businesses; and (c) can prove — (i) that that person has available to themselves and under that person’s personal control funds to the value of the proposed investment amount; or (ii) that that person has already invested the minimum prescribed sum of money in a licensed employment generating business in the Islands,

(4) Where a Certificate has been issued under subsection (3) the holder is required to submit to the Director of WORC audited financial statements and details of the employment that has been generated at the end of the second and fifth year of that person’s investment and at any time thereafter upon request by the Director of WORC.

18. The principal Act is amended in section 47 by inserting after subsection (11) the following subsections — “(12) The holder of a Certificate issued under subsection (3) shall provide an annual declaration containing prescribed particulars in respect of the holder and the holder’s dependants — (a) on the anniversary of the date of issue of the Certificate of Direct Investment; or (b) on the date that the Director of WORC may specify, and the declaration shall be accompanied by the prescribed fee for the filing of the declaration. Page 28 Act 14 of 2025 c Immigration (Transition) (Amendment and Validation) Act, 2025 Section 19 (13) The failure by the holder of a Certificate of Direct Investment to provide the declaration under subsection (12) is an offence and a ground for revocation of the Certificate of Direct Investment.”.

(5) A Certificate issued under subsection (3) shall entitle the holder — (a) to reside in the Cayman Islands; and (b) to work in the business or businesses in which that person has invested for the purpose of obtaining the Certificate in an occupation or in occupations approved by the Director of WORC. (6) The spouse or civil partner and dependent children (where applicable) of the holder of a Certificate of Direct Investment shall be granted a Direct Investment Holder’s (Dependant’s) Certificate, the holder of which is permitted, subject to this section, to reside in the Islands.46

(2) Where the Director of WORC is satisfied that — (a) the applicant and that person’s spouse or civil partner (where applicable) have a clean criminal record;44 (b) the applicant, that person’s spouse or civil partner and dependent children (where applicable) are in good health and possess adequate health coverage;45 and (c) the applicant has provided satisfactory evidence with respect to subsection (1), the Director of WORC may, taking into account the views of the Department of Commerce and Investment, issue an Approval-in-Principle Certificate of Direct Investment valid for six months. (3) Where before the expiry of the Approval-in-Principle Certificate of Direct Investment the applicant can demonstrate that that person has made the investment proposed and has obtained all required licences, then the Director of Page 50 Revised as at 31st December, 2021 c Immigration (Transition) Act (2022 Revision) Section 47 WORC may, upon receipt of the prescribed fees, and having taken into account the views of the Department of Commerce and Investment, issue a Certificate of Direct Investment valid for twenty-five years renewable on application and at the discretion of the Director of WORC.