Grenada is a Commonwealth country with Queen Elizabeth II as head of state, represented locally by a Governor-General. The Governor-General role is largely ceremonial.
The island has a population of 110,000 people and the capital city is St George's.
Its size is 348.5 square kilometres (134.6 sq mi)
English is the country's official language.
Citizens of the USA, Canada, UK, EU countries, and most Commonwealth & South American countries can stay on vacation in Grenada for 3 months on a tourist visa which is automatically given on arrival.
Visitors wanting to stay longer than 3 months can apply for an extension of 3 months.
Individuals who are retired from work, financially independent and a person of good character can apply for Grenada permanent residence.
Individuals who have permanent residency and have resided in Grenada for 6 years or more are eligible to apply for citizenship by naturalization.
Grenada has a Citizenship by Investment Program where you can purchase real estate to acquire the right to become a citizen of Grenada. You don’t need to reside in Grenada before, during, or after the citizenship by investment application.
Grenada’s passport allows Grenada citizens visa free travel to over 140 countries including the UK (6 months), European Union countries, China and Russia.
There is no interview, education, or management experience requirements. A citizenship by investment application can be processed in as little as 60 business days.
Grenada permits dual citizenship.
There are no restrictions on foreign buyers acquiring real estate in Grenada. The Government of Grenada welcomes investment from overseas investors.
In Grenada, there is no multiple listing system (MLS) or certified real estate agents. Be careful when purchasing property as there is little protection against fraud.
Search for your perfect property.
Make an offer to purchase the property with the Real Estate Agent.
Engage a lawyer to perform a title search and land survey.
After signing the Agreement for Sale, pay a 10% deposit.
On settlement pay all taxes and fees.
Pay the balance of the purchase amount.
Please seek the advice of a local lawyer. Legal fees depend on the complexity of the transaction and the amount of work performed.
Property tax ranges from 0.1% to 0.5% of the market value for residential property.
An Alien Land Holding License is required by non-nationals and is currently 10% of the purchase price.
A non-citizen buying a property pays 10% transfer tax.
Currently 1% of the purchase price.
Grenada imposes no tax on capital gains.
Grenada imposes no inheritance tax.
Grenada imposes no tax on worldwide income.
Locally generated income is taxed. The first XCD 36,000 per annum is exempt, the next XCD 24,000 is taxed at 10%, and the excess at 28%.