Two-Bedroom Residence, South Coast Beachfront Condos, Grenada
A freehold two-bedroom apartment on Grenada's south coast, still under construction — the images are the developer's renderings, not photographs. It suits a buyer who wants a Caribbean base that can also carry a citizenship application, and who can wait for delivery. It does not suit anyone who wants keys this season, or who wants to underwrite the purchase off a rental record, because a scheme that has not opened does not have one.
What you actually own
Freehold title to the apartment itself. Grenada's Property Tax Act deems an individual unit in a multiple-unit development a separate property, so it carries its own valuation and its own bill rather than a share of one large assessment.
As a non-citizen you also need a licence under the Aliens (Land-Holding Regulation) Act: land held by an unlicensed alien is liable to forfeiture, and the licence has no effect until the fees are paid and it is registered. Routine, but not optional — who obtains it, when, and at whose cost belongs in the contract.
Nothing is built, so the contract is the asset. I want the strata documentation, deposit protection, a long-stop date, and a specification that limits substitutions in writing.
What it costs to buy, and to leave
A purchaser who is not a Grenadian citizen pays transfer tax of ten per cent of market value — not automatically your contract price, since where the Comptroller is not satisfied the consideration is fair market value, the Valuations Officer determines it.
One exception is worth chasing. Where Cabinet has declared the development an approved tourism development, the first transfer is taxed at five per cent on the vendor and five per cent on a non-citizen purchaser, and subsequent transfers at two and a half per cent each. Ask for the Cabinet Order, not the assurance.
Exit matters more than most buyers expect: a vendor who is not a citizen pays fifteen per cent of market value, against five per cent for a citizen — or two and a half under the approved-tourism rate.
This property qualifies for the Grenada Citizenship by Investment program.
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Interested in Two-Bedroom Residence, South Coast Beachfront Condos, Grenada?
Book a private call with Dan to explore availability, ownership options and eligibility.
Book a Private CallDan Merriam & Associates acts for the buyer. Our advice is independent, not contingent on any sale, and we hold no brokerage or developer mandate.
Frequently asked questions
What does it cost to hold each year?
I will not quote a property tax rate, because Grenada's rates are set annually by Ministerial Order and I cannot verify the current one from a published source. The Act's owner-occupier deduction requires occupation for at least nine months in the year, which a unit in a rental program will not meet, and a minimum tax applies whatever the value. Service charge, insurance and reserve contributions here are unpublished — ask for the operating budget, reserve policy and apportionment formula in writing.
Can I rent it out, and what does Grenada take first?
Yes. Hotel and holiday accommodation is taxed at ten per cent VAT rather than the fifteen per cent standard rate, and rental paid to a non-resident carries fifteen per cent withholding on the gross amount, which is the final liability on that income unless a treaty directs a lower rate. No rental terms are published for this scheme, so I would want the management agreement before completion: the split and what it is a split of, the booking calendar, owner nights, and who pays the service charge in a void month.
Does it qualify for Grenadian citizenship?
Grenada's real-estate route requires a minimum of US$350,000 in an approved project for a sole buyer, or US$270,000 per share where two or more individuals buy a tourism accommodation unit valued at a total of at least US$540,000 and twenty per cent of the proposed construction cost has already been invested. There is also a government contribution of US$50,000 for a main applicant and up to three dependants, and US$25,000 for each additional dependant. "The developer is approved" is not the same as "this purchase qualifies" — I would have Grenadian counsel confirm the latter in writing.
What is the catch?
Nothing is built, so there is no occupancy history and any yield presented to you is a projection; renderings are not a specification. Exit friction is real — fifteen per cent vendor transfer tax for a non-citizen unless the approved-tourism rate applies, plus a five-year hold if you resell as a qualifying investment to another citizenship buyer. And if you are American, the United States taxes its citizens on worldwide income wherever they live, so a second passport is a mobility and structuring tool, not a tax event.