Being part of an archipelago, Grenada is an island in the Caribbean Sea. Those looking to open a company in Grenada should keep in mind that they can make all kinds of investments, except the ones that can be detrimental to Grenada’s national security, environment, public health or national culture.
Registering a company in Grenada requires compliance with a number of requirements (e.g. opening an account with a bank in Grenada). To open a commercial enterprise in Grenada, you will have:
- to register a unique company name;
- to file an application with the Supreme Court;
- to open a bank account in Grenada.
After receiving a certificate of registration, your company will have a legal status and be able to carry out business activities in Grenada. Please note that engagement in commercial activities in Grenada requires a license.
- Obtaining a business license in Grenada costs $13;
- Registering a company name costs $25;
- Registering a company in Grenada costs $1200.
- Having no less than one shareholder;
- Having no less than one director;
- Having a legal address;
- Having a registered office.
Those planning to open a business in Grenada can do it in one of the following legal forms: sole entrepreneurship, partnership or LLC.
ADVANTAGES OF REGISTERING A COMPANY IN GRENADA:
- no taxation for 20 years;
- no stamp duty or other fees;
- no taxes on inheritance;
- no taxes on transfers;
- no taxes on capital gains and profits;
- possibility to work in international markets.
* For commercial real estate, the tax rate is 0,3%
Looking to start a business in Grenada? Need assistance with registering a company in Grenada? Why not contact YB Case?