How to buy property in St Vincent & the Grenadines

BUYING AND SELLING REAL ESTATE IN SVG (Non-Nationals of St Vincent & the Grenadines)

Foreign nationals wishing to purchase property are required to obtain an Alien Land Holding License.

When entering 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.

BUYING AND SELLING REAL ESTATE IN SVG (Nationals of St Vincent and the Grenadines)

STAMP DUTY
Buyers in Saint Vincent are required to pay 5% stamp duty of the purchase price of the property whilst the seller pay 5% as well In total of 10% go to the Government as stamp duty for a transfer of a particular property.

LEGAL FEES
It is advised for all Buyers to seek the advice of a local attorney. Legal fees in Saint Vincent and typically amount to 1% - 5% of the purchase price.

PROPERTY TAX
There are low annual property taxes in Saint Vincent. Which is required to be paid annually.

TRANSACTION COSTS

Who Pays?

Alien Landholding License (ALL) 4.00% - 10.0% buyer (DO NOT APPLY TO NATIONALS OF ST VINCENT AND THE GRENADINES)
Legal Fees 1.50% - 5% buyer
Registration Fee 0.25% buyer
Stamp Duty 5.00% / 5.00% buyer / seller
(Other fees may apply)

Note: This is only a guide to selling and buying of properties in St Vincent and the Grenadines.