Have you ever wanted to live on a tropical island with stunning palm-fringed beaches and turquoise sea? There are five Caribbean islands that offer citizenship-by-investment, and others will provide a residence permit. However, not all Caribbean islands are equally safe and cheap, and these are the two pillars that make up the basis of living standards. In this post, we will focus on the prices of different Caribbean islands.
However, this will be a short post, and we have a longer article for you. If you are interested in choosing a Shangri La for you, welcome to our portal and read an article for those who are thinking about the Caribbean Islands to live. We have a lot of other articles on different aspects of the Caribbean, including citizenship-by-investment programs, asset protection, company setup, local banking, and so on.
If you need help with relocation, visa, citizenship, bank account, business re-domiciliation, or any other aspects that will make your life in the Caribbean more convenient, you can book a session with our expert and discuss any matters that are important to you. We can give you advice free of charge and help you with administrative steps you may need at a reasonable fee. Contact us to find out anything you need to know about the wonderful Caribbean islands!
Caribbean Islands: Overview
The Caribbean region is an affordable place to live and have a rest, while the conditions offered are similar to those you will find at the most luxurious Asian and European resorts. What about safety? It is somewhat similar to any place on Earth: the cheapest place is usually the most unsafe one, and vice versa. You probably know that there are districts in cities where it’s better not to go at all, and there are those you’d better avoid after dark. These are the minimum precautions that exist in any country or city, and the Caribbean is not an exception.
In short, choose the island by the balance of characteristics (don’t choose the cheapest one as it may be unsafe) and follow certain rules – and the Caribbean island of your choice will be your safe home for many years ahead!
Affordable Caribbean Islands
Which island is the best one to live in the Caribbean? There is no answer to that question. If you are on a tight budget, the “best” will mean the cheapest. However, you should understand that you cannot have comfort, safety, and well-developed infrastructure at no cost, so the higher the prices and taxes, the better living conditions you can have. Consider choosing a country like renting an apartment: you cannot rent a luxury villa for a few hundred dollars a year! Therefore, consider your budget, your needs, and your preferences, and choose the island that suits your tastes!
Let’s look at different options.
If you are interested in living among English speakers, this is the only Central American country where it is possible! Those interested in history will appreciate the traces of the ancient Mayan civilization that you can see here. Expats and digital nomads flock here to take advantage of the stunning place, so you will easily integrate into the local community.
- 2,000 US dollars a month will be enough for two people
- A great place for nature lovers
- Cheapest accommodation: 30 US dollars
- The majority of dishes in local restaurants cost about 19 US dollars
- Imported products may cost a lot
This is an island with a rapidly developing economy focused on tourists and banking services. Many people come to live here as the procedure of obtaining a residence permit is not very difficult and it does not cost much. You can find some really good low-cost real estate options here.
- A hotel room will cost you 30 US dollars
- A lunch at a local restaurant starts at 10 US dollars
- Two persons will need 1,800 US dollars to live here
Curacao is a very safe and comfortable place to live due to its close ties with the Netherlands. This is not the cheapest place to live, but if you like the island, you will still be able to find low-priced accommodation and cafes. It does not matter whether you are a beach rest lover or you enjoy active leisure, you will find something to do in Curacao.
- Tired of packed beaches? Curacao’s beaches are not crowded at all, and this may be an advantage
- You will find all you need for watersports here
- You can try and find accommodation that costs 30 US dollars per night
- If you like Caribbean cuisine, a meal will cost you 20 US dollars per person. International restaurants charge somewhat higher prices
The country is also known as the Island of Enchantment, and it is the center of high-quality rum production (so you will be able to buy it at a relatively low price). If you want to live in a country with many places of interest, Puerto Rico is not the best choice. However, if you are interested in a country with the best balance of characteristics, opt for Puerto Rico, and get stunning natural views as a bonus!
- If you want to live near the beach line, you will have to pay 50 US dollars a day or more. However, apartments in the center of the island cost less, so you may consider them if you are on a tight budget
- The price of a meal for two at a restaurant will cost 40 US dollars
What is Grenada? This is a natural paradise with tropical forests, flower fields, and nutmeg plantations. What is more, you can enjoy numerous hot springs there (with a temperature of up to 35 degrees) as there is an underwater volcano near the island. There are also a lot of places of interest to look at.
- If you are on a tight budget and want to find accommodation at 30-35 US dollars, you’d better explore Airbnb before you arrive – or the offers you will find quickly upon arrival are highly likely to be much more expensive
- You can get a three-course meal at 20 US dollars in tourist places. However, if you move a little away, you can have a good lunch at 10 US dollars
Please follow the link above to find out more about prices and read the section on safety rules. Book a session if you want to know how to relocate and get a residence permit in the Caribbean.
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