Alien Land Holders License
A foreign national who wish to acquire real
estate in St. Vincent and the Grenadines will need an authorization known as a Alien Land Holding license as stipulated by
the laws of the country. Once a property has been selected and prior to a purchase being completed. An application should
be made for an Alien land holding license. This application is usually made by a lawyer and involves a police clearance from
the purchaser's country. A banker's reference and character reference. The acquisition of real estate does not automatically
grant citizenship.
Required Information
1. Current address and address for the past
five years.
2. Birth Certificate.
3. Passport number and date and place of issue.
4. Purpose of Acquisition
of Land.
5. Banker's reference (fax copy not Acceptable).
6. Survey Plan of land.
Buying
costs
Various acquisition costs are payable when buying property and include:-
Legal Fees are as follows
10% of purchase price for stamp duty.
ALIEN LAND HOLDING LICENSE FEES ARE AS FOLLOWS:
Type of registration
Registration fee
On sale of land where the value of the property:
i. Does
not exceed $100,000 $10,000.00
ii. Exceeds $100,000 but does not exceed $3,000,000 $10,000.00
plus 6% of value in excess of
$100,000.00
iii. Exceeds $3,000,000 $184,000.00
plus 4% of the value in
excess
of $3,000,000.00
On lease of land where the value of the property:
i. Does not
exceed $100,00
$10,000.00
ii. Exceeds $100,000 but does not exceed $3,000,000
$10,000.00 plus 6% of the aggregate
leases value
iii. Exceeds $3,000,000
$184,000.00 plus 4% of the aggregate
leased
value
DEED OF GIFT WHERE THE VALUE OF THE PROPERTY:
i. Does not Exceed
$100,000
$10,000.00
ii. Exceeds $100,000 but does not Exceed $3,000,000
$10,000.00 plus 6% of the excess of
$10.000.00
ii. Exceeds $3,000,000 $184,000.00
plus 4% of the Value in
excess of $3,000,000.00
TO HOLD LANDS AS MORTGAGE
On A company already
holding land becoming a company under alien control where the value of property:
i. Does not Exceed $100,00
$10,000.00
ii. Exceeds $100,000 but does not Exceed $3,000,000
$ 10,000.00 plus 6% of the value in excess
of
$100,000.00
iii. Exceeds $3,000,000 .
$184,000.00 plus 4% of the value in
excess of $3,000,000.00
Administration fee is payable on application to
the Governor-General
for the Variation of any $5,000.00
document or condition of license.
for Any other License Granted Under this Act
$ 500.00
Annual General License
$2,500.00
TAXES
Property tax is Payable to government by owner of
land and/or buildings and every property is given a unique reference number when it is entered onto the tax roll. properties
become reteable or taxable when any one or more of the following conditions are satisfied:
hen it is occupied.
2. When it is in use.
3. When it is completed.
Tax on developed land (land with Building)
- 5% of the annual rental value.
Tax on undeveloped land attracts a minimum of $10.00 up to the first 7 acres
Tax
on hotels or guest houses - %2.5.
Tax is payable annually Between July 1st and September 30th, after which it is subjected
to arrears.
Permission of Residence
It is obvious that a person
who purchases property in St.Vincent and the Grenadines will want to know that they can enter St.Vincent and the Grenadines
and reside here. If the Person is in possession of an airline ticket from St Vincent and the Grenadines to any other country,
entry for three months is normally automatically granted. This three month entry can usually be extended, in three month intervals,
up to the departure date of the airline ticket.
Additionally, the policy of the Government is
that anyone who owns a residence in St. Vincent and the Grenadines, upon that Person making an application to the Government
for permission to reside here, the Government will consider granting to that person permission to permanently reside in this
country.
