What are the benefits of moving to Grenada from US? Is it possible to get a Grenada passport as a US citizen? Can I buy Grenada real estate as an American? These are some of the most common questions US expats ask themselves before making the big move to Grenada.
If you are American or an expat and are thinking of relocating to Grenada, this guide is for you.
Grenada is an unspoiled Caribbean island, also called ‘The Spice of the Caribbean’ due to its locally grown spices. 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. The islands boast 40 white-sandy beaches with crystal clear blue waters, 15 wonderful waterfalls, 30 world-class diving sites, and an impressive rainforest to explore.
Because Grenada’s main language is English, and thanks to direct flights from Grenada’s Maurice Bishop International Airport to the US, the island has become one of Americans’ favorite Caribbean islands for relocation.
The launch of Grenada’s Citizenship by Investment Program in 2013 has seen a staggering boost in the number of expats coming to live in Grenada. The successful scheme gives foreigners the fantastic opportunity to get a Grenada passport in exchange for an investment in the country’s economy.
Why moving to Grenada from US is an excellent decision
Benefits of living in Grenada as a US expat
Pros of living in Grenada
The island’s inhabitants are kind and welcoming, the weather is warm year-round, and the island has plenty of beautiful natural landscapes that are untouched. The buildings in Grenada are colorful, reflecting its charm and vibrant culture. It is also easy to travel from Grenada to neighboring islands, as well as international destinations. The island is also relatively safe and boasts a large expat community.
Cons of living in Grenada
The island’s infrastructure is not as developed as other countries, government processing can take more time than you may be used to, and the slower pace of life (also called ‘island time’) may require some adjustment.
Living costs for Americans in Grenada
The living costs in Grenada compared to the US are relatively cheaper, especially in terms of renting costs, locally produced food, restaurant prices, and real estate. Additionally, very favorable tax exemptions make the cost of living considerably more affordable than in the US — there are no capital gains, inheritance tax, income tax or wealth tax on worldwide income or assets.
You can, for example, rent a one-bedroom apartment in the city center for $400, and a three-bedroom apartment for $900. Outside the city center prices are cheaper and you can find a one-bedroom apartment for $340 and a three-bedroom apartment for $600.
Cost of groceries
Locally produced food such as loaves of fresh white bread, spices, white rice, local cheese, bananas, oranges, mangoes, onions, potatoes, and tomatoes are cheaper than in the US. Imported products are however more expensive than in the US such as milk, lettuce, beef, apples, and gasoline.
For those who enjoy eating out, restaurant prices are cheaper in Grenada than in the US. A meal in an inexpensive restaurant costs about $7, while a three-course meal for two people in a mid-range restaurant costs $70. Domestic and imported beers are also cheaper in Grenada.
Grenada real estate cost
Buying property in Grenada is cheaper than buying property in the US. Due to an increase in expats relocating to Grenada, the Grenada real estate market is booming and offers excellent housing opportunities. The price per m2 for an apartment in Grenada’s city center is half the price of the price per m2 for an apartment in one of the US’ city centers.
Americans retiring in Grenada
Still relatively unspoiled, Grenada is a fantastic place to retire to if you are seeking a life under the sun, in one of the most beautiful islands in the Caribbean. The real estate market offers attractive investment opportunities, and you can also find low-cost rentals. With a cost of living generally lower than in the US, Grenada is becoming an upcoming place for US expats to retire.
If you are into nature, you will enjoy a range of outdoor activities and other things to do. Grenada is very famous for sailing, swimming, and diving. Several of its marinas are very convenient for yacht owners, and strategically located in the Caribbean. Stunning white-sandy beaches, diving spots, and hiking trails are also available on the island.
In terms of health facilities, Grenada has one of the best healthcare systems in the Caribbean. In Grenada, you can find 30 medical stations, six health centers, and eight hospitals — the biggest hospital being The General Hospital in St George. Private health insurance is available in Grenada.
Moving to Grenada from US: relocation tips
Obtain Grenada residency
If you wish to reside in Grenada, several options are available:
- Permanent residency: A US citizen looking to stay in Grenada for longer than three consecutive months will have to apply for an extension visa. A US citizen who has resided in Grenada lawfully for more than two years can apply for permanent residency.
- Citizenship by naturalization: US citizens who have resided for seven years in Grenada can apply for citizenship by naturalization.
- Citizenship by investment: In exchange for an investment of at least $150,000 in Grenada’s economy, US citizens can get Grenada citizenship in two months’ time.
Get a Grenada passport
Launched in 2013, the Grenada Citizenship by Investment Program is a very successful scheme allowing qualifying individuals to obtain the Grenada passport in exchange for an investment of at least $150,000 in the country’s economy.
Two investment routes are available for investors:
- Invest in the National Transformation Fund (NTF): The main applicant must donate a minimum of $150,000 to the NTF, or $200,000 for a family of up to four members.
- Invest in pre-approved real estate: A single applicant must make an investment of at least $350,000 in pre-approved real estate, or make a joint-investment in pre-approved tourism accommodation of at least $220,000 per investor.
To learn more about the Grenada Citizenship by Investment Program, take a look at our Grenada citizenship ultimate guide by local experts.
Talk to our advisors
If you are thinking about moving to Grenada from US, get in touch with us. One of our dedicated Global Citizen Solutions advisors will answer your queries.
We offer a service tailored to your specific needs and requirements. Our team of experts will work diligently from start to finish, ensuring a successful application.
Professionalism and integrity are at the core of all we do.
Grenada real estate
Grenada real estate market is booming and provides for fantastic housing opportunities. Whatever you are seeking you will find at an affordable price. From brand new apartments, luxury villas, and charming bungalows, to historic colonial houses and family homes by the beach.
As a foreigner, if you are thinking about moving to Grenada from US and purchasing Grenada real estate, you will have to apply for the Alien Landholding License – which amounts to 10% of the property value. You can also buy Grenada real estate through the Grenada Citizenship by Investment Program, which will allow you to obtain Grenada citizenship.
US expats living in Grenada
Because of its beauty, safety, convenience in terms of location, and very favorable schemes for foreigners, Grenada’s expat community has increased these last few years. The nationalities making up the biggest number of Grenada expats are from the UK and North America. Americans relocating to Grenada will easily make new connections as you will always find like-minded individuals looking to go for a sailing excursion or a beach gathering.
Frequently Asked Questions about moving to Grenada from US
What are the benefits of Americans living in Grenada?
There are numerous benefits for Americans living in Grenada. The weather and nature are incredible and the country is safe. The living costs are cheaper in Grenada than in the US, and foreigners benefit from great tax exemptions.
Can Americans retire in Grenada?
Americans can retire to Grenada if they apply for permanent residency, acquire citizenship by naturalization, or pursue citizenship by investment.
Is Grenada friendly to Americans?
Grenada is very friendly to Americans. The local population is very warm, and the country is safe. There also is a big expat community in Grenada, mainly composed of English and North Americans.
How can US expats get the Grenada passport?
US expats can get the Grenada passport by applying to the Grenada Citizenship by Investment Program. Providing that an investment of at least $150,000 is made in the country’s economy, investors and their families can get the Grenada passport. US expats can also get the Grenada passport if they have resided in Grenada for seven years.
- Be over 18
- Be in good health
- Must have acquired the investment amount in a legal manner
- Clean criminal record
- Has not been denied entry to any of the countries with which Grenada has a free entry treaty.
Is Grenada safe for Americans?
With a very low crime-rate, Grenada is very safe for Americans.