According to the Caymanian Compass, "The work permit fee increases are budgeted to bring in some $9.4 million more in revenues than they did during the previous budget year. The Cayman Islands raised about $48 million in revenues (unaudited figure) from work permits in the 2011/12 year, compared to an anticipated $57.4 million in the current 2012/13 fiscal year."
Just to clarify for our readers, these newly imposed fee increases do not affect costs for any candidates looking to make a move to Cayman for employment. When foreign workers are hired for employment in the Cayman Islands, your prospective employer must sponsor a work permit application on your behalf, and as such, the work permit fees are paid for by the employer.
Just to clarify for our readers, these newly imposed fee increases do not affect costs for any candidates looking to make a move to Cayman for employment. When foreign workers are hired for employment in the Cayman Islands, your prospective employer must sponsor a work permit application on your behalf, and as such, the work permit fees are paid for by the employer.
What kind of an impact do you think this will have on the Cayman Islands?
For more information on the new fees and other changes, please read the news article here.
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