BUYER'S
& SELLER'S GUIDE
Here’s a guide to purchasing property in the beautiful Spice Island of GRENADA and the Sister Islands of CARRIACOU AND PETITE MARTINIQUE; all beautiful and rich in culture, historic sites, magnificent beaches, scenery, and culinary delights.
DISCLAIMER – Please note, the below guidelines may be subject to change and your Attorney at Law should guide you accordingly.
TAXES & FEES
THE PURCHASER OR BUYER PAYS FOR...
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LEGAL FEES – Approximately 2 % of the purchase price plus 15% VAT
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STAMP DUTY – 1 % of the purchase price.
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In addition, if the Purchaser/Buyer is a non-national he/she must apply for a landholding license and will pay 10% of the value of the property as a property transfer tax.
THE VENDOR OR SELLER PAYS FOR...
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PROPERTY TRANSFER TAX: 5% of the final agreed-upon sales price, for Grenada nationals and members of the OECS.
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15% of the agreed-upon sales price for non-nationals.
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The first $20,000EC is exempted from property transfer tax.
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LEGAL FEES – APPROXIMATELY 1.5% OF THE PURCHASE PRICE PLUS 15% VAT.
LEGAL REPRESENTATION EXPENSES TO COMPLETE THE SALES PROCESS
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Length/Time to complete a sales transaction is 3 to 6 months approximately.
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FOREIGN BUYERS - the following documents are required:
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A. Police Certificate/Record
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B. Two (2) character references
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C. Banker’s references
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LEGAL FEES – APPROXIMATELY 1.5% OF THE PURCHASE PRICE PLUS 15% VAT.
WHO PAYS THE REAL ESTATE AGENCY COMMISSION?
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THE SELLER OF THE PROPERTY - is responsible for the real estate commission at the conclusion of the sale.
ANNUAL PROPERTY TAXES
THE PURCHASER OR BUYER PAYS FOR...
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COMMERCIAL: Land - 0.005 / Building – 0.003
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AGRICULTURE LAND - 0 (zero): no property tax payable
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For additional information, please check the government of Grenada's website.