George Town, Grand Cayman – 26 October 2020:  In response to the creation of the Global Citizen Certificate by The Government of The Cayman Islands, which allows overseas individuals the right to reside in The Cayman Islands for two years as a remote worker, Butterfield has initiated expedited customer onboarding for Global Citizen Certificate holders. This will allow approved applicants in receipt of a Certificate to open a new Butterfield account without valid address verification documentation. 

Mike McWatt, Managing Director of Cayman said, “Due to the Government’s swift action it is unlikely that an approved individual will have secured a valid Cayman address verification document when applying for a new Butterfield account. The Bank has responded quickly to support the government’s initiative and ensure that remote workers have access to their overseas funds as soon as possible, allowing them to secure rental accommodation and transportation, and purchase food and supplies on arrival.

“New customers holding Global Citizen Certificates can be onboarded without valid address verification on an exception basis, under the condition that the verification document is provided to Butterfield within three months of the onboarding approval date.” 

Global Citizen Certificate holders and individuals considering applying can contact Butterfield’s Retail Banking division at (345) 949 7055 or visit the Moving to The Cayman Islands on our website for more information and to start the account opening process. 

The following documentation is required:

• Completed Account application form
• Certified copies of:
  • Global Citizen Certificate (permits the applicant to reside in Cayman and carry out work for a non-Cayman entity)
  • Passport 
  • Utility bill from country of origin (dated within the last 3 months)
  • Bank reference
• Letter from employer confirming employment and salary (on company letter head) or most recent tax return if self-employed
• Details of Cayman temporary address (i.e. temporary hotel/condo accommodation)
• Declaration of Tax status
• W-9 for US citizens
•  Deferment;
  • Proof of Cayman address; certified copy of utility bill and/or rental agreement (can be deferred for 3 months from the date of the account application)

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Butterfield Bank (Cayman) Limited is licensed to conduct banking business and investment business by the Cayman Islands Monetary Authority.

BUTTERFIELD and the Wyvern Logos are trade marks or registered trade marks of The Bank of N.T. Butterfield & Son Limited in Bermuda and other countries.

About Butterfield:

Butterfield is a full-service bank and wealth manager headquartered in Hamilton, Bermuda, providing services to clients from Bermuda, the Cayman Islands, Guernsey and Jersey, where our principal banking operations are located, and The Bahamas, Switzerland, Singapore and the United Kingdom, where we offer specialized financial services. Banking services comprise deposit, cash management and lending solutions for individual, business and institutional clients. Wealth management services are composed of trust, private banking, asset management and custody. In Bermuda, the Cayman Islands and Guernsey, we offer both banking and wealth management. In The Bahamas, Singapore and Switzerland, we offer select wealth management services. In the UK, we offer residential property lending. In Jersey, we offer select banking and wealth management services. Butterfield is publicly traded on the New York Stock Exchange (symbol: NTB) and the Bermuda Stock Exchange (symbol: NTB.BH). Further details on the Butterfield Group can be obtained from our website at: www.butterfieldgroup.com. Butterfield Bank (Cayman) Limited is licenced to conduct banking business by the Cayman Islands Monetary Authority.