Grenada Island Buying Process
1. The Property Purchase Process — Step by Step
The Grenada property purchase process differs depending on whether the transaction is a CBI-approved development purchase or an open market property acquisition. Both are described below in practical terms.
CBI Real Estate Purchase — The Six-Step Process
Step 1: Engage an Authorised CBI Agent and Independent Attorney
CBI applications in Grenada must be submitted through an authorised agent licensed by the Grenada Citizenship by Investment Unit (CBIU). Your authorised agent manages the programme application process. Separately and critically, engage an independent Grenadian conveyancing attorney to review the property purchase agreement — the agent represents the CBI application process, not your legal interests in the property transaction. These are two separate professional relationships serving two different functions.
Step 2: Select an Approved Development and Unit
The Grenada CBIU maintains a current list of government-approved real estate developments eligible for CBI investment. The approved list evolves over time — developments are added and, in some cases, removed. Always confirm current approval status with the CBIU or your authorised agent at the time of enquiry. Assess each development on: location and lifestyle credentials, post-hurricane Ivan build standard, operating track record, rental pool structure and management capability, the international brand association (if any), and the specific unit type and price point relative to the CBI minimum threshold.
Step 3: Execute the Purchase Agreement
A purchase agreement is executed with the developer, reviewed by your independent attorney. CBI property purchase agreements are typically structured with stage payments tied to the application milestones: an initial deposit, a payment on CBI application submission, and a final payment on CBI approval and citizenship grant. The agreement should specify the rental pool terms, management arrangements, what is included in the purchase, and the consequences of CBI application refusal for the deposit and purchase price paid to date.
Step 4: CBI Application Submission
Your authorised agent compiles and submits the full CBI application to the Grenada CBIU, including completed application forms, certified passport copies, birth and marriage certificates, police clearance certificates from all countries of residence in the past ten years, medical certificates, bank reference letters, source of funds evidence, professional references, and the purchase agreement. Government due diligence and processing fees are paid at this stage. The Grenada CBIU conducts multi-layered due diligence on all applicants using independent vetting organisations.
Step 5: Approval and Investment Completion
Following government approval (typically three to six months for a complete, well-documented application), the remaining investment payment is made to the developer and the citizenship and passport are issued. The five-year minimum holding period for the real estate investment begins from this point.
Step 6: E-2 Visa Application (If Applicable)
For buyers whose primary goal includes E-2 access to the United States, the E-2 visa application to the US Embassy is a separate process, filed after Grenadian citizenship has been granted and a qualifying US business investment has been made. E-2 visa applications are filed at the US Embassy in Barbados (which serves the Eastern Caribbean), and the processing requires comprehensive business plan documentation, evidence of the investment, and demonstration that the business is not marginal. Engage US immigration counsel with E-2 experience for this stage — it is a specialist US immigration matter, not a continuation of the Grenada CBI process.
Open Market Purchase — Step by Step
Step 1: Legal Engagement and Due Diligence
Engage a Grenadian conveyancing attorney before making any offer. Your attorney conducts a title search at the Deeds and Land Registry, verifies the seller's ownership, identifies any encumbrances or charges on the property, and assesses the alien landholding licence requirements for your specific transaction. For properties that have changed hands multiple times, a comprehensive chain of title review is important.
Step 2: Sale and Purchase Agreement
A sale and purchase agreement is executed with the seller, including: the agreed purchase price, a conditional clause for alien landholding licence approval (if required for your transaction), the deposit amount (typically 10%, held as stakeholder), the completion date, what is included in the sale, and all relevant warranties and representations about the property's condition and compliance.
Step 3: Alien Landholding Licence Application
If required, your attorney submits the licence application to the relevant government ministry. Processing timelines should be confirmed and built into the transaction schedule. Ensure your SPA protects your deposit pending licence approval.
Step 4: Completion and Registration
Upon licence approval (if required) and satisfaction of all conditions, completion proceeds: balance of purchase price is paid, stamp duty is settled, transfer documents are executed, and the transfer is registered at the Deeds and Land Registry. Your attorney provides the registered title evidence confirming ownership.
Typical Timeline
Open market transactions with clear title and no complicating factors typically complete within eight to twelve weeks of the SPA being executed — including the alien landholding licence processing period. CBI development purchases follow a longer timeline driven primarily by the CBI application processing: allow a minimum of four to six months from application submission to citizenship grant for a complete, well-documented application.
2. Can Foreigners Buy Property? The Legal Framework
Foreign nationals can purchase property in Grenada, but — in common with several other Eastern Caribbean islands — the majority of non-citizen open market purchases require an Alien Landholding Licence. The exception is CBI-programme real estate purchases in approved developments, which are handled within the programme framework.
The Alien Landholding Licence — Open Market Purchases
The Alien Landholding Licence is the government's formal permission for a non-Grenadian citizen to hold real property in Grenada. It applies to purchases of land and buildings by foreign nationals on the open market — outside the CBI approved development framework. Key practical points:
- ⦁ Applications are submitted to the relevant government ministry — typically the Ministry of Finance or the Lands Division — with supporting documentation including identity documents, evidence of financial means, a description of the intended use of the property, and the payment of the applicable government fee
- ⦁ The licence fee is calculated as a percentage of the property value and represents a material acquisition cost that must be budgeted from the outset — confirm the current applicable rate with your Grenadian attorney before making any offer
- ⦁ Processing timelines can vary — your attorney will advise on current processing times and structure your sale and purchase agreement appropriately to protect your deposit pending licence grant
- ⦁ The SPA for any open market foreign purchase should be explicitly conditional on the grant of the Alien Landholding Licence — your deposit should be refundable if the licence application is refused
CBI Purchases — A Different Framework
Purchases made through the official CBI programme in government-approved developments operate within the CBI framework rather than the standard open market foreign ownership process. In the CBI context, the alien landholding licence requirement may be handled differently — your authorised CBI agent and Grenadian attorney will confirm the specific requirements for your approved development transaction. Do not assume that the CBI framework eliminates all licensing requirements without specific professional confirmation for your transaction.
English Common Law — Familiar Conveyancing
Grenada operates within an English common law legal framework — property transactions are effected by conveyancing attorneys, title is registered at the Deeds and Land Registry, and the transactional process is broadly familiar to buyers from the UK, USA, Canada, and other common law countries. Your conveyancing attorney manages title due diligence, drafts and negotiates the sale and purchase agreement, advises on all taxes and fees, and manages the registration of the transfer.
Currency
Grenada uses the Eastern Caribbean dollar (XCD), pegged to the US dollar at a fixed rate of XCD 2.70 = US$1. This peg is maintained by the Eastern Caribbean Central Bank and has been stable for decades. Property transactions — particularly in the CBI and international buyer market — are commonly denominated in US dollars. There are no restrictions on the import of foreign currency for qualifying investment transactions.