How difficult is the property purchase process in St. Vincent & Grenadines?
Foreign nationals wishing to purchase property are required to obtain an Alien Land Holding License. When entering into a real estate transaction in St. Vincent and the Grenadines, lawyer’s services are very much needed. The lawyer will provide the abstract of title and prepare a Deed of Conveyance. The lawyer will also handle the application for the Alien Land Holding License of the buyer. The License registration fee must be paid to the lawyer, while the registration cost of the Deed of Conveyance (transfer tax) must be paid directly to the Government. A deposit of 10% is required as security to take the property off the market. After which, the lawyer will also take care of the application for required permanent residency. The whole process of buying takes about 6 to 10 weeks.
