Expert: Robert Clark - 3/24/2008

Question
I am thinking of moving with my wife soon to the islands and we are preliminarily gathering some info to weigh our options. We are not averse to staying for the entire 7 year limit.

Specifically we have the following questions:

*What salary range is realistic for a new Canadian CMA [certified management accountant] (with an MBA) on the island?

*how is mortgage credit assessed? Is our credit file in Canada used, and if so, to what degree? We would be interested in either a small residential unit or condo (2 bedrooms min).

*My wife would like to give birth on the island (conception would occur after we are enrolled in a health plan on the island to avoid any issues entering). We've read the entire website http://www.newresident.ky/ and are okay with the approximate $5,000 hospital fee. Is this accurate?  My wife is worried that she may not meet any others in similar circumstances. My question is, are the play dates and support programs for moms working as great as they seem on that site?

*further to the last question, which area of the island would support my wife best in her efforts to make new friends with small children (she is 26yrs old)? [Our ability to pay for a home would be directly limited to your answer in my first question about income. Our savings would most likely be used as a down payment for whatever home is chosen. We by no means need luxury]. She is very outgoing and a lovely person. Our concern that in such a small island we may not meet friends as easily.

*Are there any companies you've encountered that are absolutely superb in the way they conduct business that I would want to apply for?

*Do you know of any visitor restrictions imposed on the island? for instance, my wife's grandmother would most likely be staying with us for 2 months after the baby is born.

*If we moved back to Canada after 7 years, would the child automatically become a CDN citizen? I assume it would just be paperwork, but worth asking nonetheless.

*Would having two dependents (wife + child) hurt my chances of renewing a contract position or securing permanent work?


Other notes:
*I have registered with CMLOR, but will not be moving until Jan 2009 at the earliest [current work commitments].

*regarding accounting work, i have 5yrs experience as a financial accountant closing month ends, variance analysis, performing balance sheet rec's, providing accounting support to numerous locations across Canada and am a fast learner. I would be interested in fund accounting, although have not worked in the field. My main skills lay in the areas of IT (advanced excel certificates) and learning new skills quickly.

I wanted to thank you in advance for your response, and wholeheartedly respect the work you're doing on this site.

Answer
Hi Jack
Answers to some of your questions:

Salary US$50K - US$80K.  Your wife would have to be declared`as a dependent on your work permit application.

Mortgage - Depends on your credit and down-payment.  When you open a bank account you will need references from your existing bank, so this may help.

Insurance normally covers pregnancy after a waiting period of 9 months.  Less  deductible for the year and 20/80% patient pay 20% and Insurance pays 80%.  Depends on your insurance plan.  Not sure about plans for working mums - you may need to check this out either with your employer and also check their policy to see if it covers pregnancy/confinement.    But there are a number of pre-schools if wife decides to work.

Anywhere Cayman as the island is fairly small, but normally large apartment or condo complex allow for this kind of friendships.  Lots of functions for kids on island on weekends.  (Note that if you chose to settle in Rum Point/Cayman Kai it could take up to an hour to commute into George Town).

Good companies: KPMG (Investors in People), Dart Management

Grandmother could stay up to three months - just needs to declare it on entry.  Can be extended by visiting the immigration department I believe to up to six months (you would have to prove that you could support her).

Any child would not be Caymanian unless parent is.  Normally takes nationality of parent or mother. However I believe that a child would have right to residency up to completion of full-time education.

With a potential good salary I think the authorities would allow up to four dependents, but remember that you would have to pay for schooling - see my FAQ to some guidance on living costs (http://www.gotocayman.com).

Hope this helps and good luck!

Robert