(CMR) Dart Real Estate is courting “ultra-wealthy Chinese families” by sharing that the Cayman Islands is “increasingly becoming a jurisdiction of choice” for them. This is according to a recent blog written by Emma Parker on the Dart Real Estate website.
Monique Bhullar, a partner at Walker's law firm was interviewed for the blog and she shared that there has been an increase in “the number of ultra-high-net-worth (UHNW) individuals and family offices either relocating or preparing a contingency plan for relocating to Cayman. This is without actively seeking this type of work, so is clearly illustrative of a global trend.”
One of the key driving factors according to Bhullar contingency residency by wealthy families who are concerned about the instability in their own country. She shared that recent events such as the Hong Kong protests and the COVID-19 outbreaks have further highlighted the positives Cayman has to offer.
Elizabeth Yang, a Hong Kong attorney, also shared that Cayman's zero direct tax status allows it to attract “the very top tier of global wealthy to its shores”.
The blog shares that Dart Realty has world-class housing options catering to UHNW individuals. It also boasts that Cayman has one of the best culinary reputations in the Caribbean because of the annual Cayman Cookout festival held at a Dart owned property. When mentioning the educational facilities on the island it bragged about Cayman International School in Dart owned Camana Bay being “Grand Cayman's flagship educational establishment”.
Sue Nickason, vice president of real estate marketing and sales at Dart explains that her team is ready and able to assist these ultra-rich Chinese families to explore their options. They can “provide exclusive access to all that Cayman has to offer” including information on residency options that ultimately lead to obtaining a British Overseas Territory passport.