The Caribbean paradise of Grenada has witnessed a surge in the influx of American expats and retirees seeking a new life in a Caribbean country with a tropical climate and natural beauty. Living in Grenada offers many benefits to foreigners who are choosing permanent residency on the island.
The country boasts one of the Caribbean’s top healthcare systems, properties are safe from the Caribbean’s destructive hurricane belt, and the cost of living is much lower than in the United States.
Another appealing aspect of the island country is the opportunity to gain Grenada citizenship by investment that contributes to Grenada’s economy. Americans and other eligible foreign nationals can permanently live in Grenada by successfully applying for Grenada’s citizenship by investment program with investments such as buying property or donating to the country’s National Transformation Fund.
This guide will tell you everything you need to know about living on the ‘Spice Island’ as an American and how life in Grenada compares to other Caribbean islands.
About Grenada
Grenada island is an unspoiled Caribbean paradise, also known as the ‘Spice of the Caribbean’ or ‘Spice Isle’ due to its significant exports of spices such as cinnamon and nutmeg. With its sister islands, Carriacou and Petite Martinique, Grenada is a destination equivalent to paradise for those favoring strolls through idyllic nature and a relaxed way of living.
These islands are home to 40 pristine white-sand beaches, crystal-clear turquoise waters, 15 breathtaking waterfalls, 30 top-notch diving locations, and a vast, awe-inspiring rainforest ready for exploration.
Grenada cities like St George’s, Gouyave, and Grenville showcase the country’s diverse cultural heritage of European, African, and East Indian influences. The capital city, St George, offers luxury apartments and numerous places to dine out and try the local food of the small island. In contrast, Carriacou boasts incredible lush vegetation and opportunities for investing in tourism.
As a former British Colony and part of the British Commonwealth, Grenada’s official language is English, and a Grenadian Creole language mixed with English, French, and African languages is also widely spoken among the population.
Direct flights to multiple cities in the United States Grenada’s Maurice Bishop International Airport, including New York and Miami, as well as Toronto, Canada.
Since the introduction of Grenada’s citizenship by investment program in 2013, there has been a remarkable increase in American expats living in Grenada. Foreigners have the opportunity to acquire a Grenada passport in exchange for investing in the country.
Benefits of living in Grenada
Lucrative investment opportunities in luxury villas, high-end resorts, and other pre-approved real estate
A high standard of living in a beautiful country with warm weather
A friendly local population where it’s easy to make new friends
Tax-friendly policies, including no personal income tax on foreign income, as well as no inheritance, wealth, and capital gains tax
Qualify for the US E-2 Visa Program after obtaining Grenada citizenship by investment
No risk of hurricane damage as the country sits outside the Caribbean hurricane zone
Grenada vs the US Cost of Living
In Grenada, the cost of living, including expenses related to rent, locally sourced food, dining out, and real estate, is generally more affordable compared to the US. Additionally, Grenada imposes lower and fewer taxes than the United States. Grenadian passport holders do not pay wealth, capital gains, or inheritance tax.
Here is a comparison of the average cost to rent property in Grenada vs the US:
Property Type | Average Monthly Rent in Grenada | Average Monthly Rent in the US |
One-bedroom apartment in the city center | $780 | $1,770 |
One-bedroom apartment outside the city center | $430 | $1,450 |
Three-bedroom apartment in the city center | $1,700 | $2,960 |
Three-bedroom apartment outside the city center | $660 | $2,400 |
Grenada ranks among the top Caribbean islands for real estate investments, offering properties in prime locations with breathtaking beach views at competitive prices. The average cost per square meter for a central property in Grenada is $1,430 compared to $3,480. Grenada provides the added benefit of obtaining a Grenadian passport through buying property in the Grenada citizenship by investment program.
Although Grenada heavily depends on imports for various products, its residents enjoy cost savings on groceries thanks to locally cultivated foods like citrus fruits, bananas, and the island’s renowned spices such as cloves, nutmeg, and cinnamon.
Life in Grenada as an American Retiree
With its pristine beauty, Grenada offers an ideal retirement haven for those yearning for a tropical climate on one of the Caribbean’s most picturesque islands. Outdoor activities in Grenada are abundant, from basking in the sun on Grand Anse Beach to exploring the country’s unique Underwater Sculpture Park.
History buffs will find the island nation’s past brought to life at iconic landmarks like Fort Frederick and Belmont Estate, offering retirees a deep dive into the rich cultural heritage of Grenada.
Grenada’s largest medical facility is St George’s General Hospital, providing state-of-the-art care and medical facilities. Grenada has seven acute care medical centers and around 30 health facilities in total, including private clinics. Retirees can obtain private health insurance from renowned health insurance providers, including Bupa and Cigna Global.
Foreign residents can easily travel to the United States with direct flights from Grenada’s Maurice Bishop International Airport.
Grenada does not provide a dedicated retirement visa; however, the Grenada passport program allows retirees to obtain citizenship and permanent residency in the small island nation, with no requirement to give up their citizenship in their home country. Retirees can obtain a Grenada passport by purchasing Grenada real estate.
Moving to Grenada as a Grenadian Citizen
Launched in 2013, the Grenada citizenship by investment program offers foreign nationals and their family members the opportunity to obtain Grenadian citizenship and a Grenadian passport and live in the country or abroad as citizens in exchange for investing in the island’s economic growth.
A US citizen will be granted Caribbean citizenship within three to six months and can permanently relocate to Grenada or one of its sister islands of Carriacou and Petite Martinique.
Below are the tobtwo investment options in the program:
- Contribute $150,000 to the Grenada NTF.
- Purchase pre-approved real estate for at least $220,000 in a joint investment or $350,000 for a sole investment.
Grenada real estate investment is an attractive option for permanently moving to Grenada. Pre-approved property buyers should note that Grenadian residential or commercial property investments must be held for at least five years before they can be sold to maintain dual citizenship.
Other options to move Grenada from the US
- Grenada Work Visa: Requires a job offer from a local employer in Grenada. The employer must demonstrate to the Grenada Department of Labour that a local candidate could not fill the position.
- Citizenship by naturalization: Americans can apply for Grenada citizenship by naturalization after seven years of residency in the country.
Americans can consider moving to Grenada for work or family reunification purposes. You can visit Grenada visa free for up to 90 days. Any stay longer than 90 days will require a temporary residency permit.
Take a look at our Grenada Citizenship by Investment Ultimate Guide
The Pros and Cons of Living in Grenada
Pros:
- Tropical weather: Grenada offers white sandy beaches, year-round warm temperatures, and sunny weather.
- Affordable real estate: Grenada real estate is cheaper than real estate in the United States
- Daily direct flights: Americans can fly directly to several cities across the US, including New York and Miami.
- English speaking: Grenada inhabitants speak English, making it easier for US expats to adapt to life in Grenada. Additionally, Grenada has a large expat community.
- No hurricanes: Grenada’s geographic position is outside the Caribbean’s hurricane belt, minimizing the risk of severe storm damage to property.
Cons:
- Lack of infrastructure: While Grenada is relatively developed for a small island, the country lacks infrastructure when compared to major US cities.
- Instances of petty crime: Grenada is relatively safe, but residents must be aware of the cases of opportunistic petty theft.
- Reliance on imports: Grenada relies significantly on imported goods, resulting in higher prices for specific items like electronics and certain food commodities.
- Small size: Grenada is one of the Caribbean’s smaller islands, resulting in limited options for entertainment, dining, and cultural activities compared to large US cities and hubs, as well as other countries in the Caribbean.
- Bureaucracy: Dealing with Grenadian bureaucracy and administrative processes is often inefficient and runs on ‘island time,’ making navigating opening bank accounts and other
- official matters time-consuming and sometimes frustrating.
Grenada Real Estate
Grenada’s real estate sector is thriving, offering exceptional housing prospects. From brand-new apartments to luxury villas and charming beachfront bungalows, Grenada offers diverse housing options to suit various preferences and budgets.
As a US citizen purchasing Grenada property, you must apply for the Alien Landholding License (ACHL), which amounts to ten percent of the property value. However, investing in the Grenada citizenship program negates the need to acquire an ACHL when buying Grenada real estate.
Discover why you should Explore Caribbean Real Estate Investment
Grenada Expat Community
Expats moving to Grenada or spending an extended visit in the country have grown in recent years, drawn by the country’s natural beauty, safety, strategic location, and favorable conditions for foreign residents. The largest contingents of expatriates in Grenada come from the United Kingdom and North America, and expats living in Grenada frequent online platforms such as Expat Exchange and Reddit.
Americans considering moving to Grenada will quickly form connections, as the country’s large expat community contains like-minded individuals interested in outdoor activities like sailing and hiking, or its slower pace of life.
Get in touch with a Caribbean Citizenship by Investment specialist
Frequently Asked Questions about Living in Grenada as an American Expat
Grenada offers a compelling lifestyle for those seeking a slower pace of life and warm weather on a tropical Caribbean island. The country is often cited as a good place to live in the Caribbean because of its safety, political stability, and optimal climate compared to other countries in the Caribbean, like the British Virgin Islands, due to its mild rainy season.
Foreigners can live in Grenada. In fact, the Grenada government welcomes foreigners to enjoy island life by the Caribbean Sea through the Grenada citizenship by investment. Foreigners can acquire Grenada citizenship and enjoy permanent residency in Grenada by buying property or donating to the Grenada government fund.
Grenada’s cost of living is about 16 percent cheaper than in the United States. According to Number, the estimated cost of living without rent for a family of four is about $3,000 to $3,500. A single person’s estimated monthly living costs are $900 to $1,000 without rent.
Grenadian living conditions offer a mix of natural beauty, comfortable amenities, and some challenges. Residents enjoy tropical weather with year-round warm temperatures, white sandy beaches, and numerous outdoor activities.
The island’s infrastructure, including roads, utilities, and healthcare facilities, can vary in quality. The island has one of the Caribbean’s best healthcare systems, but occasional power outages and water shortages in certain areas are not uncommon. While Grenada offers a relatively safe environment compared to other islands in the Caribbean, the island suffers from some instances of petty crime.
Americans find the island of Grenada exceptionally welcoming compared to other countries and islands in the Caribbean, with its friendly local populace and a strong sense of safety. Moreover, the island boasts a sizable expat community, predominantly comprising Grenada passport holders from English-speaking countries, including North America.
Moving from the USA to the radiant island of Grenada is an exciting change for many Americans. Besides the country’s natural beauty, a warm climate without Caribbean hurricanes offers a welcome respite, attracting US expats seeking permanent residency in a predictable and stable Caribbean environment.
Additionally, moving to Grenada can reduce tax through the US Foreign Earned Income Exclusion, as Grenada does not levy worldwide income tax or wealth, capital gains, and inheritance tax.
Moreover, Americans relocating to Grenada choose the Grenada citizenship by investment program, which provides a straightforward pathway to citizenship and a Grenada passport through investment in the country’s economy.
Americans can get Grenada passports through the Grenada citizenship by investment program. Donating $150,000 to the country’s National Transformation Fund or purchasing Grenada real estate worth $220,000 in a joint investment or $350,000 as a sole investment qualifies investors for a Caribbean passport. Alternatively, a US citizen can apply for Grenada citizenship by naturalization after residing in the country for seven years.
The best places to live in Grenada include the capital city, St George, Carriacou, Lance aux Epines, and Grand Anse. Many Americans living in Grenada often gravitate towards these cities and islands for their convenient amenities, vibrant expat communities, and proximity to white sandy beaches and natural attractions.
