This Caribbean Island Is One of the Best Places to Retire — With Low Taxes and Cost of Living (2024)

Beachgoers and foodies flock to St. Kitts and Nevis for its natural and cultural treasures, such as its lush mountains, beautiful volcanic landscapes, and coastline washed by the Caribbean Sea and Atlantic Ocean. The dual-island nation, the smallest in the Western Hemisphere both by size and population, is also favored as one of the most affordable tropical destinations that is easily accessible via a direct flight from multiple cities on the East Coast.

The islands are also gaining attention from seniors, as they were recently named among the best Caribbean islands for American retirees by visa and relocation consulting firm Global Citizen Solutions (GCS).

The company points out that expats relocating here also have several financial incentives to look forward to. “In addition to the serene surroundings, this retirement haven offers one of the most lenient Caribbean tax environments, with zero income taxes on local and worldwide income and no capital gains, inheritance, and wealth tax,” GCS stated.

Additionally, the general cost of living on the islands is lower than in the U.S. Renting an apartment, according to GCS, in the capital of Basseterre should not cost over $900. Groceries, though, are pricier since many products are imported.

The country also grants citizenship to foreign nationals who invest over $400,000 in real estate or donate a minimum of $250,000 to the Sustainable Island State Contribution, a program that supports social and economic development on St. Kitts and Nevis. Citizenship can also be passed down to future generations and has no travel or language requirements. (The official language on the islands is English.)

Other factors that make the small nation an excellent retirement choice are the level of safety and stability it offers its residents and visitors. The State Department’s current alert level for St. Kitts and Nevis is the lowest, Level 1, meaning travelers should exercise normal precautions. The country’s 2024 Global Freedom Score, measuring political stability, civil liberties, and the normal functioning of government, is 89 out of 100.

Other Caribbean nations on GCS’ list of the best destinations for American retirees are the Bahamas, Antigua and Barbuda, the Cayman Islands, and St. Maarten. If affordability is a top priority, GCS ranks Dominica, Grenada, the Dominican Republic, Jamaica, and St. Lucia as the most affordable Caribbean nations.

You can read the full report on globalcitizensolutions.com.