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Associations: Wexas and the Association of International Property Professionals (AIPP), Local property Index

Investors Corner

Grenadine Escape is approved by the Association of International Property Professionals (AIPP)

Located in the Eastern Caribbean (below the hurricane belt) St.Vincent and the Grenadines International Airport: http://www.argyleairport.com will open in 2015. Smaller islands like Mustique, Bequia and Canouan will remain exclusive but access will be faster and easier.

A British Overseas Territory, operating according to British Common Law the region has now become a hotbed for investment thanks to an outstanding set of credentials. Read below.

Recently featured in the 'Financial Times How To Spend It' the Grenadines are the hottest investment product in the Caribbean, offering a real piece of European lifestyle and a supportive business environment.

Please note we are removing our AIPP logo and ended our membership there. 


   
 

Tax and Ownership Incentives

  • Tax Incentives
  • No Capital Gains Tax
  • No Inheritance Tax
  • No Gift Tax
  • Low purchase taxes for Nationals.
  • Ownership Incentives
  • Top 20 places to live in the world
  • National Registry System
  • British Conveyancing Laws
  • IFSA International Financial Services Authority
  • Political and economical stability
  • Rapid Growth
  • Dry Climate
  • International Community
  • Vibrant, Cultural Lifestyle
  • Whale and Dolphin watching
  • Sailing the Grenadines & Regattas
  •  

St.Vincent International Airport: http://www.argyleairport.com will open in  2015 and will bring with it obvious benefits of further international destination exposure and a larger number of tourists to the region. Smaller islands like Bequia and Canouan will remain exclusive but access will be easier.

Bequia Island in particular, is well known as a robust short – medium term real estate investment. The market here is in the early stages of a of a major growth period which began in 2006 and slowed during the economic crisis. However in the interim many 5 star luxury homes and two hotels have opened to the holiday market and for private use. The real estate market started to regain its strength in 2012. Prices achieved have been between US$ 550,000 for a resale 4 bedroom hillside apartment (in need of refurbishment) up to US$ 3m for a new 3 bedroom luxury villa.

There is increasing demand for high end luxury villas for rent and sale.We have noticed a growing number of British, Swedish, Canadian, French and American actors, musicians, designers and media moguls choosing Bequia as their favourite holiday destination. This is because Bequia offers fashionistas exactly what they want: raw beauty combined with easy access to the local community in a safe environment. Unlike other Caribbean islands, Bequia has a much more down to earth feel. Bequia's beaches, though, are some of the most pristine and underdeveloped in the Caribbean, and the coral reefs are also among the most beautiful in the world.

You might say that Bequia is becoming the laid back extension of Mustique offering a wider variety of cultural heritage, dining options and more entertainment than her regal neighbour.

Rental Villas on Bequia are let on average 16-20 weeks a year in Bequia. High season weekly rental prices are between US$ 2000 - 20,000 per week.

Buying in the Grenadines

The Grenadines is an exclusive and high-end market with many multi million dollar villas a growing number of which are on Bequia.

Buying here is a relatively short and straightforward documents set out the terms of the transaction, prepared by a lawyer.

A deposit of 10% of the purchase price is payable to the vendor on exchange of contracts. Prior to completion and owning any property, the all foreigners are required to apply to the Government for an ALHL. This application is usually made by a lawyer and involves providing standard personal details as well as various references. Following grant of the ALHL completion takes place and the remaining 90% is paid to the vendor.A contract can be agreed and exchanged in a few weeks. The ALHL normally takes 3-4 months. Completion takes place 4-6 weeks following this. So the whole process can be completed in around 6 months if parties are willing.

Buyers of property in Canouan and Mustique do not need to purchase an ALHL so the process is shorter.

Costs of Legals and Taxes

Information below is provided by Phillips and Williams, St. Vincent lawyers.

Buyers pay a 5% stamp duty

Legal fees are negotiable at around 1% to 2% of property value. Legal fees may include registration costs that are very minimal such as the ECD5 (US$1.85) registration fee.

Foreign Buyers also pay a License Fee which is usually 6% some developers have negotiated a reduction to a 2% fee.

In all forgein buyers will be paying between 7 and 12% on top of the purchase price.

All persons who do not belong to St. Vincent & The Grenadines or any company incorporated outside of St. Vincent & The Grenadines (or in St. Vincent and the Grenadines if it is under alien control) must first obtain from the Government of St. Vincent and the Grenadines an Aliens Land-holding Licence before it can legally purchase and hold real estate in St. Vincent & The Grenadines.

For the purpose of the application for the Licence the intending purchaser must act through an attorney-at-law and provide him/her with the relevant particulars. The attorney would then prepare an application (there is no prescribed form) and submit it with the prescribed fee of EC$2,500.00 to the office of the Prime Minister for consideration by the Cabinet. Consideration of an application can take 3-6 months.

The particulars which an intending applicant must provide to his attorney-at-law are:

  • 1. Full name (if more than one person the names of all)
  • 2. Date(s) of birth
  • 3. Place(s) of birth
  • 4. Passport Number(s)
  • 5. Date & Place of issue of passport
  • 6. Marital status
  • 7. Occupation
  • 8. Passport size photograph
  • 9. Bankers references
  • 10. Police certificate that applicant has no criminal record
  • 11. Copy of registered Survey Plan of the parcel of land and any property thereon to be purchased
  • 12. The purchase price for the property
  • If the intending purchaser is successful in obtaining approval for the grant of an Aliens Licence he would be required to pay the licence fee and have the licence registered at the Land Registry. The licence fee is based on the purchase price of the property. If the purchase price does not exceed EC$100,000.00 the licence fee is EC$10,000.00. If it exceeds EC$100,000.00 and up to EC$3,000,000.00 add 6% of the excess to the $10,000.00. The legal fee for preparing and submitting the application for the licence is EC$1,500.00 plus VAT of 15 per cent.

    Following the grant of the licence the purchaser would be expected to pay the purchase price to the seller upon exchange of the deed of conveyance executed by the seller and in registrable form. This deed of conveyance is required to be registered by the payment of stamp duty at the rate of 10 per cent based on the purchase price of the property (5 per cent by the seller and 5 per cent by the purchaser) and registration fees of EC$50.00 for the first $15,000.00 of the purchase price and $2.50 for every $1,000.00 or part thereof in excess of $15,000,00. The purchaser alone is responsible for the registration fee. Also the purchaser alone pays the legal fees calculated at approximately 1 per cent of the purchase price plus VAT of 15 per cent.

    The rate of exchange is US$1.00 = EC$2.6882

    Buying in Grenada

    Grenada is again less developed than the northern Caribbean islands, out side the hurricaine belt, more un spoilt and also less expensive. It has an enviably rich cultural heritage most in its architecture and incredible flora, fauna and wildlife. There is a growing exclusive and high-end market with many multi-million dollar villas a number of which are on the south coast.

    Buying here is a relatively short and straightforward document setting out the terms of the transaction, prepared by a lawyer.

    A deposit of 10% of the purchase price is payable to the vendor on exchange of contracts. Prior to completion and owning any property, the all foreigners are required to apply to the Government for an ALHL. This application is usually made by a lawyer and involves providing standard personal details as well as various references. Following grant of the ALHL completion takes place and the remaining 90% is paid to the vendor.A contract can be agreed and exchanged in a few weeks. The ALHL normally takes 3-4 months. Completion takes place 4-6 weeks following this. So the whole process can be completed in around 6 months if parties are willing.

    Tax and Ownership Incentives

    • Tax Incentives
    • No Capital Gains Tax
    • No Inheritance Tax
    •  

    • Ownership Incentives
    • Camper and Nicholsons Marina (free berth for buyers of La Luna villas)
    • National Registry System
    • British Conveyancing Laws
    • IFSA International Financial Services Authority
    • Politically stable
    • Rapid Growth
    • Dry Climate
    • International Community
    • Vibrant, Cultural Lifestyle
    • Whale and Dolphin watching
    • Sailing the Grenadines & Regattas
    •  

    Costs of Legals and Taxes

    Buyers pay a 1% stamp duty

    Buyers also pay a Property transfer tax is based on the value of the property ECD20,000 (US$7,407). The tax rate is different for citizens of Grenada and non-citizens.

    Legal fees are negotiable at around 1% to 2% of property value. Legal fees may include registration costs that are very minimal such as the ECD5 (US$1.85) registration fee.

    All persons who do not belong to Grenada or any company incorporated outside of Grenada must first obtain from the Government of Grenada an Land-holding Licence before it can legally purchase and hold real estate in Grenada.

    The license fee in Grenada is usually 10%. However some developers have negotiated a reduction of fees.

    Buyers of villas at La Luna pay only a 1.4% tax on purchase

    For the purpose of the application for the Licence the intending purchaser must act through an attorney-at-law and provide him/her with the relevant particulars. The attorney would then prepare an application (there is no prescribed form) and submit it with the prescribed fee of EC$2,500.00 to the office of the Prime Minister for consideration by the Cabinet. Consideration of an application can take 3-6 months.

    Both the Grenadines and Grenada use the East Caribbean Dollar (XCD) which is pegged to the US Dollar (USD) at USD1 = XCD2.70.

    The air holidays advertised are ATOL protected by the Civil Aviation Authority.
    Grenadine Escape is a subagent on ATOL license ATOL T7350 for Travel Indigo.
    Protection extends primarily to guests who book and pay in the United Kingdom. ATOL protection does not apply to all holiday and travel services on this website. Please ask us to confirm what protection may apply to your booking.
    Click on the ATOL logo for further information.
    Grenadine Escape is a trading name of Grenadine Escape Ltd.
    Registered office: 5th Floor, Kinnaird House, 1 Pall Mall East, London SW1Y 5AU. Registered number: 05141271.