BUYING PROPERTY IN ST VINCENT & THE GRENADINES, AND GRENADA

CAN FOREIGNERS Aquire PROPERTY here?

 

Yes, there are no restrictions and foreigners can buy property with the Government welcoming foreign investment. In order to purchase property here, non-citizens need to apply for an Alien Land Holding Licence (ALHL).

 

BUYING PROCESS

 

Buying property in St Vincent & the Grenadines is a lot simpler than it looks, which typically involves the following steps:

  1. Begin your property search.
  2. Find your perfect property and make an offer.
  3. Once you have made an offer in writing which has been accepted, the lawyer of your choice will prepare a Purchase Agreement.
  4. You will need to pay a 10% deposit which is usually held in escrow.
  5. Your lawyer will then conduct a title search and due diligence and apply for the Alien Land Holding License.
  6. Upon the license application being approved, your lawyer will arrange for payment of the balance, including the taxes and fees.

License Fees

In Saint Vincent there is a non-refundable application fee of EC$ 2,500 for the license. The license would be specific to the property and does not require annual renewal. In Grenada, there is a fee of 10% of the purchase price. Approval for the license usually takes between 2 - 3 months.
 

STAMP DUTY

Buyers in Saint Vincent are required to pay 5% stamp duty of the purchase price of the property whilst in Grenada they are required to pay Stamp Duty of 1%.
 

Legal Fees

It is advised for all Buyers to seek the advice of a local attorney. Legal fees in Saint Vincent and Grenada typically amount to 1% - 2% of the purchase price.
 

Property Tax

There are low annual property taxes, both in Saint Vincent and Grenada.

 

We cannot be held responsible for discrepancies in the details on this page and encourage all our clients to confirm their own legal obligations and requirements, with above only to be used as a general guideline.