I get asked a lot of questions about living in the Cayman Islands.
These are the questions I get asked the most and the questions you should be asking.
The question I get asked the most is some iteration of, if I work in Cayman, how much
money will I make?
And is it enough to save?
This is such a hard question to answer because everybody has a different concept of what
enough means, not only in terms of pay, but what you can do with that pay.
Are you willing to share accommodation, have a long commute, eat out less or do you want
to go to brunch every Sunday and only eat organic food?
Do you want to make regular trips off island to cure that island fever?
Or do you want to send half your salary to loved ones in another country?
They all factor into how much is enough and how much you can save.
Thankfully, you came to an accountant with that question.
I knew you are smart from the moment you started this video.
Cayman has a low minimum wage when compared to First World countries.
It was a large talking point in our recent elections but to date nothing has changed.
If you're intending to do a service job, that should be something you consider.
Maybe you're coming from a third world country like me, and that's still a lot for you.
Most restaurants have a forced gratuity of 15%, but whether that actually goes into the
worker's pocket at the end of the shift will depend on where you work.
When tourism was on fire,
I met waiters making more than accountants.
But since March 2020, we've had no real tourism here for our friends in the tourism industry
We hope that ends soon.
Construction is a huge industry right now.
And many blue collar workers are doing very well for themselves.
You should hear what an electrician will charge to change a light fixture.
Professionals are generally well paid, but it may be harder for a lawyer to get a job here
than an accountant.
Because of the different rules for the professions.
I've met South African lawyers who can't practice here, so they've taken lower level jobs than they're qualified for
if your skill set is already taken care of by the local population,
then unfortunately and rightfully so, finding a job here will be an uphill battle for you
and may necessitate a career change for your time on these islands.
Lifestyle choices dictate how much you save.
A person earning a six figure salary may not feel like they're earning enough and somebody
earning way less.
Maybe sending a large portion of their salary home to family, eating out, drinking and pleasure
shopping can drain money fast, but there are cheaper places to go.
A high end restaurant can land you at 100 Cayman dollars per person, but a grocery store food
bar could get you a balanced meal for $6.
In short, the cost of living in Cayman is one of the highest in the world.
Rent, groceries, utilities, car repairs.
This is probably the most you'll ever pay for the essentials in your life.
Check out the Cayman Resident website for an up to date grocery basket price list.
Careers that are in high demand include compliance, finance, teachers, doctors, lawyers and nurses.
This just based on what we're currently seeing in the newspaper.
So for the latest information, contact a local recruitment agency.
A lot of these jobs are filled by expats and have high turnover because many people are
on short term contracts and plans to go back to their home country.
If you're the partner of somebody who's already got a job on Island but don't have a skill
set in high demand, you may need to be more flexible with what work you're willing to do
Finding a job once you're on island should be far easier.
But just being here doesn't guarantee you anything.
Make sure you can survive and be happy on that one person's salary in case the job search
doesn't go as planned.
Once you've signed your contract, got your work permit, packed your bags and flown to this
tropical paradise.
You'll want to find a place to live.
Most employers usually provide a place for you to stay for a week or two whilst you get
settled in.
In that time, you'll have a lot of admin to get done, but finding a place to live is usually
priority one.
The closer to Seven Mile Beach and town you are, the more you can expect to pay for rent.
There are also other amenities to consider, like pools and gyms in highly sought after
gated communities that carry their own premiums.
I'd recommend staying as close to your place of work as your budget will allow.
South Sound, Seven Mile Beach and Snug Harbor are great areas.
West Bay is a little further out, but without much traffic into town.
There are some really beautiful options, but beware there are sketchy parts of West Bay,
so drive around a bit and suss out the area you're considering.
If you head out east, prices get more and more reasonable, but you'll pay for it with
time and traffic especially if your commute is into town.
Many people share larger homes with housemates to be able to save or live in communities
they otherwise wouldn't be able to afford.
This is a great option and I did it for almost all my time as a single person in Caman.
But it comes with the usual difficulties of sharing with strangers, along with the potential
additional difficulty of people needing to leave island in the past, I would have recommended
living a little further out to save some money.
After all, the island's small and a few miles shouldn't hurt.
But I've learned peak hour traffic can be surprisingly awful, especially if you're living
further east.
Hour long commutes are common for those residents just a few miles out of town, and if there's
an accident, you're going to be very late for work.
I made a video some years ago where I tried to get a bus to get around for an afternoon
and ended up walking most of the way in the heat.
Things have not really improved.
The government tried a great program with free, reliable shuttles around town on set
routes for a while which I used during the workday a few times.
But the uptake seemed low and the experiment has been shut down without any indication
of a return.
There's definitely been an increase in the use of bicycles electric scooters and other
alternative means of transportation.
I made a video of my wife and I getting e-bikes.
You should check it out.
I think this is Cayman's best solution for the traffic problems and a great option if
you want to be eco friendly.
Save a fortune on petrol, insurance and cars and get to work faster.
Unfortunately, those of us that use these means of transport are still considered crazy
by most people in island.
There's a perception that large high vehicles are the only acceptable means of transportation,
and drivers in general don't really know how to share the road with lighter transport
Becoming a citizen or getting permanent residence in Cayman requires significant time, investment
and hoop jumping.
Most people that ask me that question seem to be looking for a quick route to
a new passport.
This is not the place for that currently, unless you have wads of cash.
Eight years of living here is required along with a plethora of points for different skills,
tasks and investments just to be considered for permanent residency.
If you have wads of cash, let's hang out on your yacht when you get here.
Those are the big questions I get asked a lot, but there are other questions that you
should be asking.
Questions like If I'm moving here.
What should I bring most rental places are fully furnished and shipping is expensive,
especially in 2022.
So leave the big ticket items behind.
As mentioned in previous videos, shopping is limited when it comes to non grocery buying
and usually far more expensive than elsewhere.
So get yourself to a mall one last time and grab all the clothes, gadgets and accessories
you may need until you can travel off island again.
Technically, you can import anything you need that isn't here, but it will always carry
a cost.
Let me know in a comment if you're interested in learning how this works.
Hot tip.
The weather is almost always hot, but most offices have their air conditioning set to
Arctic We may be a financial hub of the world, but Cayman's personal banking is stuck in
the dark ages.
Going into the bank is still very much a thing.
Processing time is maybe slower than you expect.
And banking hours are essentially when most people are at work.
Hot tip! You'll need a referral letter from your home bank to be able to open an account at some
banks here. So make sure you get that before you come.
Growing up in a tropical region of South
Africa, we had flash flooding and fires, but it was never something people necessarily
prepared for.
Natural disasters seemed like crazy once off things that only happened in the movies.
In my ignorance, I didn't even think about how big a deal hurricanes are.
Or consider them when moving to Cayman. Cayman has been really blessed that we haven't
had any monster storm since Hurricane Ivan in 2004.
But in 2021, we had two major storms just within a week of each other.
With it comes panic buying in stores.
Why does the toilet paper always go first?
What are people doing with it?
And as it comes, you just buckle down to await your fate.
This is me cooking a meal on the barbecue after the power went out in last year's storm.
We stock up on a list of supplies every year and listen carefully to government warnings
about possible storms that could be coming our way.
And if they're serious enough to need to go to a shelter it's a huge deal.
Everyone's on alert, but it becomes a part of everyday life.
Let's do some quick fire questions to end this off.
I hope this video has been super helpful.
If it has hit that like button and hit subscribe, ring that bell for more
Cayman videos and more adventures coming soon.
Let's go.
I'm also South African.
Can you get me a job?
No.
Do you have Amazon?
No.
Do you have McDonald's?
Yes.
But not the one you're thinking of.
We have plenty of takeout places, though.
Can you help me launder money?
No.
Can I adopt a cat?
Jas,
did you edit the script again?