Current Edition 2010/11
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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.