Grenada, West Indies
Alien Land Holding License
- Alien Land Holding License - In order to own property or land in Grenada, 10% of the agreed purchase price must be paid to the Government of Grenada once the license is granted. It generally takes about three (3) months to obtain the License.
- The attorney representing you will require the following documents in order to apply for the License on your behalf:-
Police Certificate, Character Reference From A Friend, Bankers Reference.
- Stamp Duty is generally 1% of the agreed purchase price.
- Legal fees are generally 2% of the agreed purchase price.
- Land Transfer Tax is to be paid on the selling price of the property and land at the time of sale. If you are a citizen of Grenada, 5% of the selling price is required, if foreign, then 15% of the selling price is required to be paid to the Government of Grenada on completion of sale.
- Building costs generally run in the range of US$120/140 per sq. ft.
- The local currency is the Eastern Caribbean Dollar which is linked to the US dollar. Exchange rate is EC$2.7169 to every US$1.00.
Real Estate & Development