So you have been designated and approved as a Key Employee?
As your next step, you should be thinking about submitting your application for Permanent Residency as soon as you reach your eighth year of being legally and ordinarily resident on island. I always recommend submitting your application as early as possible to avoid any headaches and stressful situations. In addition, these applications can take anywhere from 3 months to 6 months to be heard by the Board, and possibly longer.
There are a number of documents required, it would therefore be wise to start gathering documentation such as photos, completed application forms, letters from referees, employment letters, resume, bank reference letters, pension statements, proof of investments on island, police report, medical reports, proof of identification (e.g. copy of passport), marriage certificate (if applicable), and paternity tests (if applicable). Of course, Immigration may request further information or documentation depending on your circumstances.
There are a number of categories in which a person can apply for permanent residency including with or without the right to work, residency under independent means, residency on the basis of being married to a Caymanian, and residency under direct investments. So, do your research and find out which residency category fits your personal circumstances.
Talk to you again soon!