747 Pilot, i hope you enjoyed the transition from 02 to 03.
i wonder if perhaps you are talking apples and oranges here.
Could it not be that the Canadian Govt. would consider you a resident of the Cayman Islands based on the fact that you do not reside in Canada and declare your address to be in Cayman?
The requirement to own property of a certain value comes into the picture when you try to obtain permanent resident status ( as opposed to just resident) in Cayman,( this is a Cayman requirement)
I will seek clarification on that part, I do know there are a lot of Canadians here that are not permanent residents, but may become that sometime in the future, untill they do, they either have a work permit or, in case they do not work, have thir residency renewed every six months upon proving that they can support themselves.
You might want to check the situation at the Canadian end.
Either way, its a buyers market in real estate at the moment.
take care!