Grenada Real Estate Approved for Citizenship by Investment

Buying Grenada real estate for sale is an excellent investment and a chance to have a second home and retire on an unspoiled Caribbean island. The Grenada government grants citizens to foreigners who buy approved properties for sale in Grenada.

Grenada Real Estate Market Overview

Since the introduction of the Grenada Citizenship by Investment Program in 2013, the number of foreigners investing in Grenada and its property market has significantly increased. Grenada real estate listings  in popular areas such as Morne Rouge and St George show that the market is diverse.

You can explore various Grenada property options, from luxury villas and modern apartments to historic plantation homes and luxury resorts run by property management companies deemed reliable. Depending on the Grenada property type and your preference, buying Grenada land and building the home of your dreams is possible.

The main island is divided into six parishes, of which St Andrew is the largest. However, the capital city of St George’s is where most of the population lives, providing easy access to other parts of the country. Some of the best places to buy property in Grenada are St George, St Patrick, Carriacou, Grand Anse, St Patrick, and Lance aux Epines.

Why buy real estate in Grenada?

How to buy Grenada property?

If you wish to purchase Grenada island real estate, two options are available:

1. Access property for sale in Grenada through an authorized real estate agent or on your own, and search for vacation rentals or Grenada homes for sale.
2. Obtain an Alien Landholding License, which grants permission to purchase Grenada property as a foreigner. The license costs ten percent of the property value.
3. Hire a reputable lawyer to draft a Purchase and Sale contract. You’ll typically have to pay a ten percent deposit to secure the purchase.
4. Get a certified property surveyor to conduct the valuation and prepare documents to transfer the title deed.
5. After approval, documents will be submitted by the lawyer to the Grenada Land Registry to register you as the new property owner.

Note: An Alien Landholding Licence is not required to purchase pre-approved property for sale in Grenada through the citizenship by investment program.

Grenada Property Prices

Depending on the property type, prices of property for sale in Grenada cities like St George range from $160,000 to $7 million. According to data from listing information provided by Numbeo, the cost per square meter for an apartment ranges from $435 to $1,700.

Grenada Property Transaction Costs

• Alien Landholding License: Ten percent
• Legal fees: One percent to two percent
• Stamp duty: One percent
• Property Transfer Tax: Ten percent

Finding Property for Sale in Grenada

Several Grenada real estate websites offer property to buy in Grenada. International real estate websites listing pre-approved Grenada citizenship by investment (CIP) real estate developments include:

• Terra Caribbean
• 7th Heaven Properties
• Century 21 Grenada
• Point2Homes

Pre-approved Grenada properties for sale

St George: The Coral Cove Hotel development by Charis Group Ltd offers sea-view suites with balconies from $270,000.

Grand Anse: The Emreal Suites development by Reece Investment Inc. offers shares in eco-friendly luxury suites from $270,000.

St George: The Hideaway True Blue offers strategic residential apartments close to Maurice Bishop International Airport and St George’s University from, from $350,000 for a studio to $425,000 for a two-bedroom apartment.

L’Esterre: The Sanctuary at Fiji Beach on the Grenada island of Carriacou is a gated community and private resort offering options such as Alamanda Villas and Hibiscus Condominiums from $350,000.

Other real estate for sale in Grenada

Buying Property in Grenada to Get Citizenship

Thanks to the Grenada Citizenship by Investment Program, you can purchase Grenada pre-approved real estate and gain citizenship without having to obtain an Alien Landholding License:

• Option 1: Purchases shares in a Grenada pre-approved real estate project for at least $270,000.
• Option 2: Make a sole investment in a pre-approved property valued at least $350,000.

The property must be held for at least five years to maintain dual citizenship.

1. Contact your authorized agent Global Citizen Solutions to assist in filling out the relevant CBI application forms.
2. The agent will submit completed forms and documents on your behalf to the Grenada CBI Committee.
3. Your application is submitted for a due diligence check by the Grenada Citizenship by Investment Unit (CIU). If approved, the applicant can initiate a real estate purchase.
4. Proof of purchase is sent to the Investment Migration Agency Grenada.
5. Final approval and issuance of a Grenada citizenship certificate by the Investment Migration Agency Grenada.

Additional program fees

• Government Fee: $50,000 for up to a family of four
• Application fee: $1,500 per person
• Due diligence fee: $5,000 for each family member aged 17 and over
• Processing fee: $1,500 per person aged 18 and over; $500 per person under 18
• Interview fee: $1,000 per person aged 17 and over

Is it worth getting real estate in Grenada?

If you are looking to invest, retire, or simply buy a second home or rental property, acquiring real estate in Grenada is worth it. Overall, Grenada’s investment opportunities are plentiful, and finding the perfect property to earn rental income through a trustworthy Grenada property management company is relatively straightforward.

Buying pre-approved Grenada real estate shares or a home qualifies for a Grenada passport, providing visa free travel to over 140 countries. As a Grenada citizen, you will benefit from great tax exemptions – there are no capital gains, inheritance, wealth, or worldwide income tax.

 

Why use Global Citizen Solutions?

Global Citizen Solutions is a multidisciplinary firm offering bespoke residence and citizenship solutions in Europe and the Caribbean. In a world where the economy and politics are unpredictable, having a second citizenship opens up opportunities and creates flexibility for you and your family.

So, why work with Global Citizen Solutions to obtain Caribbean citizenship?

• Global approach by local experts: We are corporate members of the Investment Migration Council, with local expertise in all five Caribbean CBI programs.
• 100 percent approval rate: We have never had a case rejected and will offer you an initial, free-of-charge, due diligence assessment before signing any contract.
• Independent service and full transparency: We will present to you all the investment options available, and all expenses will be discussed in advance, with no hidden fees.
• An all-encompassing solution: A multidisciplinary team of immigration lawyers, investment specialists, and tax experts will take into consideration all your and your family's mobility, tax, and lifestyle needs.
• Confidential service and secure data management: All private data is stored within a GDPR-compliant database on a secure SSL-encrypted server.

Frequently Asked Questions about Grenada Real Estate

As a foreigner, can I buy real estate in Grenada?

A foreigner can buy Grenada real estate by applying for an Alien Landholding License. The cost of the license amounts to ten percent of the property value. Foreigners can buy homes for sale in Grenada in Grenada-approved areas without a license through the Grenada CBI program.

What are the best places to buy property in Grenada?

Some of the best places to buy property in Grenada are

• St George
• Carriacou
• Grand Anse
• Lance aux Epines
• L’Esterre
• Morne Rouge

What kind of homes can I find in Grenada?

There are many types of houses for sale in Grenada in popular cities like St George, including historic plantation homes, modern apartments, beachfront villas, and bungalows. Foreign buyers can also buy Grenada land and build their own houses.

How much does a house in Grenada cost?

The cost of a house in Grenada can vary between $160,000 and $7 million, depending on factors like the property’s location.

What is the average price of a house in Grenada?

According to new listings on Rightmove, the average price of homes for sale in Grenada ranges from $400,000 to $1 million.

How much is property tax in Grenada?

Grenada property tax is charged at progressive rates from 0.2 to 0.3 percent of the property value for residential properties and hotels. Other commercial Grenada real estate investment is subject to a property tax rate of 0.2 to 05 percent. Grenada agricultural real estate is not subject to property taxes.