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Doing Business in Grenada
 
 
 

General

For local businesses, other than as a requirement under the Fiscal Incentives Act (for manufacturing enterprises) there is no specific obligation for a business to be incorporated as a company. Thus an investor can form a sole proprietorship, a partnership or limited liability company. The usual form of business however, is a limited liability company and investors are encouraged to incorporate.

The following ownership forms are recognised:

• local investors alone;
• foreign investors alone;
• joint venture between foreign and local investors.

In accordance with the Companies Act 35/94 Part 1, one or more persons may incorporate a company by submitting the following documentation to the Registrar, Supreme Court:

• Articles of Incorporation;
• list of directors;
• notice of address;
• request for a name search.

Business names can be registered with the Registrar, Supreme Court Registry.

International Companies

Offshore businesses in Grenada are normally incorporated under the International Companies Act, Cap. 152.

The principal legislation is the International Companies Act Cap 152 of the Laws of Grenada, as amended in 2002.

Before an individual can apply for a licence for banking, insurance, etc. an international company (often referred to as an International Business Company) has to be formed. Such a company can be established to engage in any lawful activity and is fully tax exempt. There are no foreign currency restrictions.

The key features of the Grenada International Company are:

• ease of incorporation;
• no disclosure of shareholders or directors unless the international company intends to engage in a licensed activity such as insurance, banking or trust, international betting or company management;
• no filing requirements;
• no audit requirements unless a licensed entity;
• incorporation within 24 hours;
• confidentiality.


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