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, American Airlines, Air Jamaica and service the island.
For further information, please contact:
Altman Real Estate
P.O. Box 1572, Le Marquis Complex
Grand Anse, St. George's, Grenada
Direct: (473)435-2081
From the UK: +44(0)1204322143
Fax: (473)435-2080
E-mail: info@altmangrenada.com
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Altman Real Estate Grenada specializes in property sales and rentals, property management, and property consulting with a wide portfolio of private luxury villas for sale and for rent. Altman Real Estate also Well-appointed and exquisitely detailed villas in Grenada have helped make the island one of the top luxury tourist destinations. The island is home to traditional spice plantations and is transitioning into a luxury tourist destination. The tranquility of the Grenada attracts a jet-setting crowd searching for the ultimate in rest and relaxation. Now considered home to one of the Caribbean's finest mega-yacht marinas, Grenada is likely to become a required stop over for well-healed yachtsmen. Whether you're seeking land, a private villa, a beachfront condominium, Altman Real Estate has a wide selection of properties for sale and rent on the island including; Mount Edgecombe Plantation, Cedar Cliff, Azzurra Castle, Sea Moon Residences, Deep Pool, Nutmeg Bay, Bacolet Bay, Grand Harbour and Port Louis Marina and Residences.
