Leeward Islands real estate - the exotic place to buy
The Caribbean nation of Grenada, located on the southern end of the Leeward Islands, is awakening as a target for international real estate investors. Consisting of the islands of Grenada, Carriacou, Petite Martinique and a number of smaller islets and cays, this Southern Caribbean nation of 105,000 is set to become the newest real estate investment target in this part of the world. About 96,000 of these residents live on the island of Grenada, where most of the investment and amenities are. The buying process in Grenada is straightforward, with few restrictions as most land is freehold and open to anyone for purchase. The whole process can take from 4-6 months. The longest amount of time is taken to get your Alien Land Holding License. Once you have identified your property and settled on a price with the buyer, you make a 10% deposit which is held in escrow until the process is complete. Next, you have to apply to the government for an Alien Land Holding License. This application is made by a local lawyer and must include a police clearance from your country of residence, bank references and character references. The process to get this license can take 8-12 weeks. When the License is granted there is a payment due of 10% of the purchase price payable at the Inland Revenue Department. In addition to the 10% fee, you need to add in lawyers’ fees and taxes, which come to approximately EC$1,900. Your lawyer will perform a title search, prepare the title deed and obtain the necessary government clearances for the sale. In addition to the 10% Alien License fee, the following fees will also be due when the property closes: 5% of purchase price for Grenada for General Consumption Tax, payable at the Inland Revenue Office, 1% of purchase price for Stamp Duty paid at the Deeds and & Land Registry, 2% for legal fees to prepare title deed and title search, EC$ 250.00 for government fees. Once the property has closed and all fees have been paid, the registration of the new title Deed in the Deeds and Land Registry takes about 60 days and you will have the title to your new Grenada property.
|
|
Leeward Islands Vacations site
Our company is running one of the largest pc and mobile travel website networks, covering top hotel, vacation package, airline ticket, beach, cruise, all inclusive and honeymoon destinations worldwide.
We will also run a travel blog portal which centralises the blogs posted by our visitors on all of our websites and which represents one of the world's best travel information resources, totally build by people such as yourself.
In the link section, you can check more links to our travel website network as well as to other third party specialized websites as lastminute.com or orbitz.com which we suggest you to visit if are you planning a trip to Leeward Islands .
|
