Legal procedure and costs

Most purchasers (those that are not citizens of St Vincent and the Grenadines) are required to obtain an "Aliens Land Holders License" from the Government of St. Vincent and the Grenadines before they can legally own real estate in St. Vincent & the Grenadines.

An Alien Land Holders License application process is conducted via a local attorney upon receipt of a 10% deposit on the sale price of the property. The attorney would submit the application (together with a fee of EC$2,500.00 or USD$930.00) to the office of the Prime Minister for approval.

The application must be submitted together with the following details:

• Full name (if more than one person the names of all)

• Date(s) of birth

• Place(s) of birth

• Passport Number(s)

• Date & Place of  issue of passport

• Marital status

• Occupation

• Passport size photograph

• Bankers reference

• Police report showing that applicant has no criminal record

• Copy of Survey Plan of the parcel of land and any property thereon to be purchased

• The purchase price of the property

Application fees

Usually the legal fee for preparing and submitting the application for the license is EC$1,500.00 + VAT of 15%.

Following the approval of the license the purchaser would be expected to pay the purchase price to the seller upon exchange of the deed of conveyance. This deed of conveyance is required to be registered by the payment of stamp duty at the rate of 10% based on the purchase price of the property. This amount is usually split between the purchaser and vendor (unless otherwise agreed).  The registration fee is EC$50.00 for the first EC$15,000.00 of the purchase price and EC$ 2.50 for every EC$1,000.00 or part in excess of EC$15,000,00.

Example: based on a purchase price of $865,000.00 USD the application fee would be $2,167.00 USD or $5,808.00 ECD

Alien Landholders License cost

Upon approval of the Aliens License the purchaser would be required to pay the license fee which is based upon the purchase price of the property as set out below.

Up to ECD $100,000.00  fee of ECD $10,000.00.

Over ECD $100,000.00 and up to ECD $3,000,000.00, 6%

Example: Purchase price of $865,000.00 US or $2,318,200.00 ECD = License fee of $53,392.00 USD or $143,092.00  ECD

Attorney Fees

Legal fees usually calculated at approximately 1.5% of the purchase price.

Example: Based on a purchase price of $865,000.00 USD Legal fees would be approximately $12,975.00 USD or $34,773.00 ECD

Government Stamp Duty

10% (5% paid by the purchaser and 5% paid by the seller)

Example: Based on a purchase price of $865,000.00 USD the Stamp Duty for the purchaser would be $43,250.00 USD or $115,910.00

The exchange rate used is typically US$1.00 = EC$2.6882

Therefore the total cost of all fees based on a purchase price of $865,000.00 USD would be approximately 13% of the purchase price of the hous. The purchase price can be reduced by listing furniture and fixtures, chatels etc. as a separate cost and not applicable to the above fees.