Grenada

Information about the country, taxes, prices and cost of living, and other things to know

March 21, 2024
Reading Time: 11 min
License GCBI MA 55

Grenada is a small island nation in the Caribbean region. It is travelled to for a secluded vacation in the tropical jungle. Cosmopolitans relax on snow-white beaches, swim under waterfalls and stroll through trails walked by Christopher Columbus.

The country grows through agriculture, tourism and investment as wealthy foreigners obtain Grenada citizenship to travel to the Schengen Area, the UK, China, and Singapore visa-free.

Geography of Grenada

Grenada is located on the island of the same name and the southern islands of the Grenadines, which are part of the Lesser Antilles. 

The islands' location is favourable, protecting the country from devastating Atlantic hurricanes. Unlike other Caribbean countries, Grenada receives minimal damage, and some hurricanes do not reach the state at all.

The neighbouring countries of Grenada are St Vincent and the Grenadines to the north and Venezuela and Trinidad and Tobago to the south.

  • Area ― 344.5 km²
  • Capital — St George’s
  • Average annual temperature ― +27°C. The most comfortable months are January, February, and March
  • Population — 113,949
  • Official language — English
  • National currency — Eastern Caribbean dollar (XCD)

Climate and nature of Grenada

Grenada's climate is tropical, with trade winds. The rainy season lasts from May to December. In January, the weather is clear. There are no more than three short tropical downpours a month. 

The temperature on the island is stable and rarely falls below +20°C.

Climate in Grenada: temperature and precipitation
Climate in Grenada: temperature and precipitation

Colonisation has greatly changed the nature of Grenada. Tropical forests are preserved only in the upper part of the mountain range of the Grand Etang National Park. The rest of the country is planted with swietenia, mahogany and pine trees. On the coast, there are mangroves.

Native mammal species have almost disappeared. But mona monkeys and mongooses, which Europeans brought from Asia and the East, have adapted well. The forests of Grenada are home to about 150 species of birds, including the endangered Grenada turtledove.

The Caribbean Sea is home to about 450 fish species. Fishermen most often catch tuna, snapper, or mahi-mahi. Fishing enthusiasts from all over the world come to Grenada to boast their catch later.

Grenada: Underwater world

Grenada is famous among diving and snorkelling enthusiasts. The coastal zone is dotted with live coral reefs, with fish, turtles and squid swimming among them

Grenadian citizenship by investment: Local fishing

Tourists come to Grenada specifically for sport fishing. One of the main trophies is the mahi-mahi fish or golden mackerel. Mahi-mahi meat is considered a delicacy in South American countries

Grenada: mona monkey

Mona monkeys, like hamsters, store food behind their cheeks. They are not afraid of tourists and are ready to become the best friend for food

Grenada: Leptotila Wellsi, or Grenada Turtledove

Grenada Turtledove is on the verge of total extinction. But locals say that sometimes they hear a bird singing, which sounds more like the sighs of an owl

Grenada: nature

Mangroves are not afraid of tides. Tannins are obtained from the wood of their aerial roots, and homemade wine is infused from the juice

Political and economic structure of the country

Grenada is an independent state that is part of the Commonwealth of Nations. 

The form of government is a constitutional monarchy, with the reigning monarch of the UK as the head of the state. The governor-general represents the interests of the Crown in Grenada.

Legislative power is exercised by the Parliament, which consists of the Senate and the House of Representatives, while the Cabinet of Ministers exercises executive power.

In addition to the Commonwealth of Nations, Grenada is a member of the United Nations, the World Trade Organisation, the International Monetary Fund, and the Organisation of American States. The Grenada passport allows holders to travel without visas to the Schengen Area, the UK, China, and Singapore.

Grenada: the flag

The Grenada flag symbolises the trust, hopes and aspirations of a brave nation that accepts the challenge of statehood. The flag was adopted in 1974 after the National Wars of Independence

Grenada passport

The Grenada passport allows the holder to travel to 145 countries freely. For example, Grenadian citizens can visit China without visas for 30 days

Most of Grenada’s population is of African descent, but the islands are also home to Arawak, Indo-Caribbeans, and descendants of European settlers. The country's official language is English, but some residents still speak a variety of French-based Creole.

About 96% of Grenadians are Christians, Catholics and Protestants. Approximately 2% of the population follows different folk beliefs. Hinduism and Islam are followed by 1% of the island's inhabitants. Another 1% of Grenadians call themselves atheists.

The Roman Catholic diocese cathedral is in the capital of St George’s, known as Immaculate Conception Cathedral.

Tourism and agriculture are the mainstays of Grenada's economy. About 70% of Grenada's GDP comes from tourism. The second most important industry segment is agriculture.

Grenada is nicknamed the Island of Spices. Nutmeg, cinnamon, cloves and cocoa are grown in the country for export, along with various vegetables and fruits.

Every third resident of the state is a fisherman. Grenada exports tuna to the US and Europe. On the islands, furniture is made from exotic tree varieties. Local beer is brewed in the country, in honour of which the Uncorked festival is held in May.

Since 2013, the Government of Grenada has been issuing citizenship to foreign investors. Thanks to this program, investments in tourism, construction, and the social sphere have grown.

Grenada: nutmeg

Grenada has many nutmeg plantations, exporting the spice all over the world

Grenada: a local market

St George’s market sells vegetables both familiar and exotic for Europeans, such as taro and cassava. Taro looks like a beetroot and tastes like a nut. Cassava is the local potato substitute

Grenada: a fish market

There are 450 species of fish in the Caribbean Sea. In Grenada, you can always buy fresh fish, which fishermen deliver every day to local markets and shops

Infrastructure of Grenada 

There are three airports in Grenada, one of which is international. Maurice Bishop Airport, formerly called Point Salines, is 8 km from the Grenada capital.

Grenada is popular with professional and amateur yachters alike. The island has many convenient bays and lagoons, with more than 20 marinas.

Port Louis Marina is one of the largest in Grenada, located southwest of St George’s. The marina has 170 berths that accommodate vessels of all sizes. A hotel, restaurant and shops can be found nearby.

Next to the mangrove forest is Clarkes Court Boatyard and Marina, protected from storms thanks to trees. On the beach, there is a bar, a restaurant, laundries, and showers.

Le Phare Bleu Marina is located on the south coast of Grenada. Its 60 berths are equipped for small and medium-sized yachts. There is a 24-hour security service, gas station, mini market and swimming pool.

Prickly Bay Waterside is home to the Prickly Bay Marina. It has a gas station, a marine service, a bar and restaurant, as well as a car rental. The marina staff can help book a hotel or pick up a new yacht if needed.

Next to St George’s is the Grenada Yacht Club, which can accommodate up to 44 yachts. Refuelling, electricity, clean water, free Wi-Fi and 24-hour security are available to ship owners. The staff teaches sailing to all visitors.

Grenada: Port Louis Marina

Small boat berth at Port Louis Marina. In total, the marina has 170 berths for vessels of various sizes

Grenada: berths of the island

Private, free berths are available all along the coast of the Grenada Islands. But if you need comfort and additional services, it is better to moor the ship in a well-equipped marina

Taxation in Grenada

Grenadian tax residents do not pay taxes on wealth, capital gains, inheritance, and gifts. They also do not pay tax on income and capital received outside the state.

The basic taxes for individuals are the following:

  • on personal income from Grenada sources — 10% on the first EC$24,000
    (≈ $8,880) and 28% on the rest;
  • on property transfer — 5% for Grenada citizens and 15% for foreigners;
  • on the owned property — 0 to 0.5%;
  • social contributions — 5% of the monthly wage.

The basic taxes for legal entities are the following:

  • on the income of country-based companies — 28%;
  • withholding tax for non-resident companies — 15%;
  • social contributions — 4% of an employee’s monthly wage;
  • VAT — 0 to 20%;
  • on property transfer — 5% for Grenada citizens and 15% for foreigners;
  • on the owned property — 0.8% of the property value;
  • stamp duty — 1%.

Cost of living in Grenada

Most tourists call Grenada a country of relaxation. The country can be reached by air or sea. Not only large cruise liners but also yachts, catamarans and trimarans enter the island bays.

Real estate. Tourists stay in hotels and apartments or rent spaces from residents. The average rental price of a one-bedroom apartment starts at $313. The closer to the centre, the higher the rent.

Prices in Grenada are relatively low, but imported goods are more expensive. 

Approximate grocery prices are the following:

  • bread, 500 g — $1.62;
  • milk, 1 l — $1.86;
  • local cheese, 1 kg — $8.12;
  • eggs, a dozen — $3.65;
  • chicken filet, 1 kg — $8.17;
  • beef, 1 kg — $12.43;
  • apples, 1 kg — $9.21;
  • bananas, 1 kg — $2.58;
  • bottle of mid-range wine — $10.

A monthly fitness club pass costs approximately $48, and a movie ticket costs around $9.

Transport. Bus routes connect the towns of Grenada. A one-way bus ticket is $1.01. Taxi tariffs start at $22.

Ferry services are available between Carriacou, Lesser Martinique and St Vincent.

Healthcare ranking of Grenada

Grenada has 7 acute care hospitals and about 30 public and private medical facilities. Each district has its own central hospital. Most of the medical staff are graduates of the St George’s University.

Doctors also work in large hotels. For example, tourists can seek help from a therapist, dentist, or cosmetologist. If necessary, tourists are hospitalised in clinics. Medical treatment for non-residents is not free, so you need to get insurance before travelling.

Locals practice African traditional medicine: from herbal medicine to shamanism.

Education system in Grenada

Grenada has public and private schools. Children ages 6 to 14 are required to attend primary and secondary schools. All public schools are free: the government provides students with food and all the necessary textbooks.

School graduates can choose to continue their studies at a technical university, teachers’ college, or the private St George’s University.

The St George’s University is the most prominent in the Caribbean. It was opened in 1976 as a medical school and nowadays has a variety of programs, including international business, finances, arts and sciences, and more. It also provides postgraduate education. 

For international students in Grenada, university education costs are comparable to the UK. A four-year medical degree program will cost about $152,000. The education of Grenada citizens is subsidised by the state and is therefore much cheaper than for foreigners.

The School of Medicine’s students receives clinical rotation opportunities in the US and the UK. More than 18,000 doctors are the St George's University graduates. Most of them work in the US, Canada and the UK.

Attractions, festivals, and entertainment in Grenada

Attractions. Connoisseurs of ancient architecture should walk in St George’s, built by French colonists. The city has preserved 18th-century buildings, such as Fort George. Military personnel in an old-style uniform serve at the fort walls.

Carenage Harbor in St George’s is the main harbour of the country, where most of the maritime infrastructure is concentrated. Next to the harbour, at the eastern entrance, is the port of Frederick, built in the 19th century.

Morne Rouge Beach, one of the country’s main beaches, is surrounded by tropical trees. Locals love local tree shade and host barbecues and weekend parties here. The beach has a well-developed infrastructure: restaurants, cafes and hotels.

La Sagesse Bay is a secluded Atlantic Ocean beach. The ocean water is warm, but there are big waves. Coconut palms and tropical trees line the beach. Most tourists rest on the eastern Grand Anse beach with the Caribbean Sea, so the locals visit La Sagesse for peace.

The highest mountain in Grenada is St Catherine. It is a stratovolcano located in Mount St Catherine Forest Reserve. 

The most popular waterfall on the island is Seven Sisters. It gets its name from the seven cascades, through which water flows as a calm stream. Those who want to view the waterfall or swim in the reservoir next to it need to get to the Grand Etang National Park first.

Medical tourism enthusiasts come to take a dip in the volcanic hot springs of Clabony. They can be reached by public transport or on a guided tour.

An underwater sculpture park is operating in the Caribbean Sea near the coast of Grenada, at a depth of up to ten metres. It features 65 sculptures: people standing in a circle, a cyclist and a witch-looking girl. The sculptures are created not only for the exhibition: they also act as artificial reefs.

Grenada capital: St George's

St George’s is the capital and cruise port of Grenada. Founded by French colonists, their churches and ancient city harbour fortifications are still open and host tourists

Grenada: Fort George

Fort George guards set off fireworks from ancient artillery cannons as an attraction for tourists

Grenada: Local beach La Sagesse Bay

La Sagesse Bay is a quiet ocean beach in the west of Grenada. The water here warms up to a comfortable +25°C. After learning about the beach for the first time, tourists often become regulars

Grenada: Local beach La Sagesse Bay

The goal of many Grenadian tourists is to climb St Catherine, the youngest and highest volcano in the country, and see the sunrise over the sea from 840 metres above sea level

Grenada: Underwater Sculpture Park

Underwater sculptures that act as reefs and corals around the island of Grenada. To visit the underwater park, tourists scuba dive to 10 metres

Festivals and entertainment. Once a year, Grenadians organise their own Spice Island Billfish Tournament. In the morning, fishermen have a boat parade; in the evening, they show off the biggest fish and share anecdotes.

Local athletes have their own regatta, Grenada Sailing Week. It is held in late January and early February and lasts 8 days. The number of participants increases every year. Concerts and beach parties are organised for them.

You can visit the famous cruise ships that call on Grenada. For example, the AIDAperla cruise ship takes a trip to the Caribbean. It has 11 restaurants with various cuisines, a water park, areas for children, a fitness hall, nightclubs, a beauty salon and an art gallery.

The islands of Carriacou and Petite Martinique, which cover 35 km² of Grenada, host carnivals, festivals, and The Carriacou Maroon & String Band Music Festival.

Best cities and areas to live in Grenada as an expat

The country of Grenada consists of three islands: Grenada, Carriacou, and Petite Martinique. All three are populated. Grenada has around 80 settlements, including big and small towns and villages. 

St George’s is the mentioned capital city, with the essential infrastructure. This includes Maurice Bishop International Airport and the St George’s University. It is the main tourist hub, resulting in abundant attractions and festivals. The main banks are also located here.

The city is one of the best places for boat owners, with numerous first-class berths, marinas, and clubs catering to their needs.

Grenville is a coastal town, the capital of St Andrew Parish. It is quite busy and has active public transportation, several secondary schools, and the Pearls Airport. 

Grenville also has one of the most famous markets in the Caribbean. The best day to shop here is Saturday, when the market is full of vendors offering fresh catch, spices, fruits, vegetables, textiles, and more.

Lance aux Epines is one of the best options for family life. It has gated communities, premium properties, private beaches, and high-end restaurants and is generally way calmer than other areas of Grenada. However, Lance aux Epines is also great for boat owners, who will find all the necessary services in the local Prickly Bay Marina.

Hillsborough is the main city of the Carriacou and Petite Martinique islands. It’s less touristy than Grenada parishes but has a robust infrastructure and gorgeous nature and culture. Hillsborough has an airport and a port.  

The local Tyrell Bay Marina makes Hillsborough especially popular among yacht and sailboat owners: it’s one of the best anchorages in the Grenadines. 

Morne Rouge is a tiny town in St George Parish. It is located at the tip of Grenada island and overlooks the Caribbean Sea. 

Morne Rouge is a great place for a family residence: quiet, peaceful, and green, but only a five-minute car drive away from places of entertainment. It also has one of the safest beaches in Grenada, with calm waters and a lack of crowds.

Grand Anse can be referred to as a “beach town”. Of course, other Grenada towns have plenty of beaches, but the local one is the biggest on the island. Life here will be perfect for those who appreciate active leisure, water sports, and nightlife.

Grenada, Hillsborough

Hillsborough Bay on the island of Carriacou

Grenada, Morne Rouge Beach

The white-sand Morne Rouge Beach is also known as BBC Beach

Grenada, Grand Anse beach

Grand Anse Beach on the island of Grenada

Top 10 interesting facts and things to know about Grenada

#1. The name “Grenada” was given to the island by European colonisers, but the indigenous Arawak people used to call it “Camajuya”, which meant “thunderbolt”.

#2. Dozens of birds, reptiles, animals, and trees are unique to the country. Among them are Grenada Dove, Grenada Tanager, Grenada Frog, Worm Lizard, and Grenada Bank Tree Boa.

#3. Grenada has a golden waterfall. The Golden Falls are tricky to reach but are majestic: their golden and orange colour results from sulphur in the water. There are two cascades of water: one is cool, and the other one is hot. The Golden Falls are located between Mount Horne and Grenville. 

#4. Grenada also has a Black Beach. Like Golden Falls, Black Bay Beach requires some hiking, but it’s also worth it. It is small and secluded, located in the town of Concord in St John’s parish. The soft sand's black and dark grey colour is the product of Mount Saint Catherine eruptions of the past. 

#5. There's a bottomless lake in Grenada. Grand Étang Lake, located in the national park of the same name, is 15 ha in size and is basically the crater of a former volcano. 

Despite wonderfully clear blue waters, you can’t actually see the lake’s bottom, and the legend claims there isn’t one at all. Although some sonar research recorded the 6‑metre depth, that legend lives on.

#6. Grenada is a paradise for food lovers. Local restaurants offer authentic dishes, including freshly caught seafood. The main national dish of Grenada is Oil Down: a chowder made from breadfruit, coconut milk, turmeric, taro leaves, dumplings and salted cod or beef jerky.

#7. It’s also a paradise for rum connoisseurs. Grenada produces a variety of rums and has several old distilleries as well as small stills where the product is the most unique. Even if strong drinks are not your thing, take a tour of the River Antoine Rum Distillery, the oldest operating water-powered distillery in the Caribbean.

#8. Grenada’s cocoa has dethroned spices. While nutmeg and mace remain the country’s main export goods, local cocoa beans have grown in popularity worldwide. The reason is their extremely rich taste that makes chocolate and drinks delicious. 

Currently, cocoa is Grenada’s 4th most exported product, with the main destinations being France, Germany, and the Netherlands. 

#9. You can get legally married in Grenada after 3 days of visiting. You and your fiance must apply to the Prime Minister’s Office. Your marriage will be legally binding and recognised internationally. While it won’t automatically make you a Grenada citizen, you can have the most picturesque ceremony on short notice.

#10. Local culture is celebrated under the name of Shakespeare. The Shakespeare Mas', or Shakespeare Masquerade, takes place annually, a few days before Ash Wednesday. 

People all over Grenada wear colourful carnival outfits and arrive at Carriacou. Their costumes pay homage to West African and Creole cultures. And this heritage blends with a more Commonwealth one: the participants have “duels”, where each party recites William Shakespeare from memory. Whoever does it more accurately wins.

What are the benefits of the Grenada passport?

The passport of Grenada gives its holder the right to visit 146 countries without visas, including the states of the Schengen Area, China, Singapore, and the UK.  

Besides, Grenada is the only Caribbean country whose citizens are eligible for an E-2 business visa to the USA.

The Grenada Citizenship Program was launched in 2013. The government offers two investment options to choose from:

  1. Non-refundable contribution of $150,000 or more to the National Transformation Fund.
  2. Purchase of real estate for $220,000 or more.

Investors can buy tourist real estate: full ownership or shares in hotels, resorts, and apartment and villa complexes. These are mainly five-star coastal projects. The government approves all properties, and developers are rigorously selected. 

The investor must own real estate for 5 years after obtaining citizenship. During this time, they have the right to rent out the property. The management company monitors the leasing. Annual rental income ranges from 2 to 5%.

In addition to the investment fees, the investor also pays for a security check, legal services for processing documents, state fees and duties. The total investment under the program depends on the family's composition.

Frequently Asked Questions

Where is Grenada located?

The state of Grenada is located in the Caribbean Sea and the Atlantic Ocean next to South America. The country consists of one large island, Grenada, and parts of the southern islands of the Grenadines, some of which are uninhabited.

Do I need a visa to visit Grenada?

Not if you are a citizen of one of 146 countries with visa-free agreements with Grenada. In that case, you can visit the country as a  tourist and stay there for 90 days within six months.

How to get citizenship in Grenada?

Grenada citizenship is obtained either by naturalisation, marriage, or investment. The fastest way to get Grenada citizenship is through an investment program. Investors choose one of the investment options: a non‑refundable contribution to the state fund or the purchase of real estate.

The minimum contribution amount is $150,000. A real estate investment starts at $220,000. Investors purchase apartments, villas or shares in a hotel. Real estate must be kept for 5 years after obtaining citizenship. At this time, it can be rented out and receive an income of 4% per year.

What does an investor with a Grenada passport get?

With a Grenada passport, an investor gets the freedom of global movement. Citizens of Grenada travel without a visa to 146 countries, including the Schengen states, China and the UK.

Grenada is also a member of the British Commonwealth of Nations, so its citizens get benefits for studying in schools and universities in the UK.

What attractions can you see on the islands of Grenada?

The main attractions of Grenada are the islands themselves, the cities and the nature of the country.

St George’s is the capital of Grenada and one of the oldest cities in the country, built by French colonists. There are buildings of architecture of the 17—18th centuries. The city has a well-developed infrastructure: restaurants and shops, hotels and fitness centres, hospitals and schools, museums, and national parks.

The Seven Sisters Waterfall, popular with tourists, is located in the Grand Etan National Park. To reach it, tourists need to walk about 45 minutes through the rainforest. But on the way, you can meet mona monkeys and see how nutmeg grows.

On boat trips, tourists are shown an underwater sculpture park. An English sculptor near the coast of Grenada created it. At a depth of up to 10 metres, 65 sculptures are displayed: people standing in a circle, a cyclist and a girl who looks like a witch. The sculptures are created not for the exhibition only: they also play the role of artificial reefs.

Is Grenada a good country to live in?

Yes, it is. Grenada has a pleasant and stable tropical climate, with temperatures rarely below +20°C. The local political environment and economy are stable, too: the East Caribbean Dollar is pegged against the US dollar. 

Grenada has developed infrastructure and access to quality healthcare, education, and entertainment. It’s a perfect place for nature lovers, yacht owners, and families with children.

Can I travel to the UK with a Grenada passport?

Yes, you can. You will be able to enter the UK visa-free and spend 180 days a year there.

Schedule a meeting

Let’s discuss the details

Schedule a meeting at one of the offices or online. A lawyer will analyze the situation, calculate the cost and help you find a solution based on your goals.

Zlata Erlach
Caribbean Investment Program Expert
Schedule a meeting
Prefer messengers? WhatsApp Telegram
Rate this article

How useful was this post?

Click on a star to rate it!

Average rating 5 / 5. Vote count: 1

No votes so far! Be the first to rate this post.

Scroll to Top