Grenada, also known as the Spice Island of the Caribbean is the southern most of the Windward Islands and lies 100 miles north of Venezuela. It is 133 square miles and has a population of approximately 98,000 people. A mix of beautiful white sand beaches, waterfalls, rivers and mountains, Grenada is certainly becoming one of the most desired destinations in the Caribbean. Real Estate is on the move and the villa community is growing rapidly. The following is an outline of what is required to own property as a foreigner on the island.
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.
Airlines such as British Airways, Virgin Atlantic, American Eagle, Air Jamaica and EXCEL service the island.
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Altman Villa Rentals offers Private Luxury villas in Grenada. Well-appointed and exquisitely detailed villas in Grenada have helped make the island one of the top luxury tourist destinations. Luxury Grenada Villas are found mostly on the island’s coastline of with calm clear waters for amazing snorkeling and scuba diving just steps from the beach. These secluded villas in Grenada attract a jet-setting crowd searching for the ultimate in rest and relaxation. Grenada, host to a healthy party atmosphere and the simpler Grenada villas. Whether you’re seeking Luxury Greanda Villa accommodations or something more understated. Villas in Grenada are sure to please your wishes. Altman Real estate in Grenada have a wide selection of villa rentals on the island.
