Company registration in Grenada

Name of service Bronze Silver Gold Platinum
Check and reserve of the company name Obtaining approval from the registrar for the company name
Company registration, including state fees Preparation of a full package of documents, depending on the chosen form of ownership, cooperation with the relevant authorities prior to obtaining information on company registration
Set of constituent documents Preparation of a complete package of constituent documents of a company of any form of ownership
Legal address for 1 year Providing a legal address for your company in a given jurisdiction, eliminating the need to purchase or rent real estate
Support in opening an account collection, preparation and submission of the necessary documents for opening a corporate account
Support in opening a personal account collecting, preparing and submitting the necessary documents to open a personal account
Total cost
1900 USD 2950 USD On request On request
Annual renewal (paid from the second year)
1100 USD 1750 USD 1750 USD 1750 USD

Deal of the month

If you will register a company until 29th of February,
opening a bank account is for FREE

6 easy steps to get started
  • 1

    Select your
    preferred jurisdiction

  • 2

    Choose a bank
    that meets your
    company's needs

  • 3

    Pay for our services
    using a convenient
    payment method

  • 4

    Receive all necessary
    corporate documents

  • 5

    Receive details
    for your newly opened
    bank account

  • 6

    We'll deliver the original
    documents directly
    to you

Grenada is an island nation in the Caribbean considered one of the best tax havens in the world. The country is rich in natural resources and attractive as a tourist destination. Grenada is an offshore country where most of the income of non-residents is tax-free. Entrepreneurs can promote international trade and provide access to the U.S. market, opening a company in St. George's or any other city in Grenada. Local laws protect investors' rights.

Advantages of registering a company in Grenada

  • well-developed infrastructure;
  • political stability;
  • access to the international market;
  • minimum registration requirements;
  • prospects of obtaining citizenship for investment;
  • possibility of opening a single-owner company in Grenada;
  • no need to hold shareholder meetings, publish data on beneficiaries and directors;

Main forms of legal presence and doing business

  • partnership;
  • sole proprietorship;
  • international business company (IBC);
  • Limited Liability Company (LLC).

Registration procedure

  • reserve a unique company name with the Office of Corporate Affairs and Intellectual Property;
  • go through the company registration procedure in Grenada, submit the required documents, and obtain a certificate;
  • obtain company seal;
  • file information with the Inland Revenue Department for tax purposes;
  • register with the National Insurance Scheme for social security of employees;
  • to open a bank account;
  • obtain the necessary licenses and permits for business activities.

Legislation and regulatory environment

Grenada is a common law country that follows the legal structure of Great Britain. The Companies Act regulates the establishment of new companies. According to the document, to open a business in Grenada, you have to:

  • appoint one or more directors and secretaries, who may be individuals or legal entities;
  • have a registered agent and a registered office.

There is no minimum capital requirement for company registration in Grenada. The issue of bearer shares is prohibited, but securities may be issued with or without par value, redeemable or preferred, registered, or with voting rights.

According to the Land Ownership Regulation Law, an entrepreneur must obtain a license from the central government to purchase land or real estate. Otherwise, property, shares, or liens on land acquired by a foreign investor may be confiscated in favor of the state.

Tax system

The tax system is based on the principle of tax residency. Corporate taxation is triggered if a company is incorporated in the country or has many business or financial transactions conducted in Grenada. The income of individuals is subject to local taxes on a general basis, provided that they reside in the state for more than 183 days per year and receive payment from local sources.

A company in Grenada that is considered a resident pays these taxes:

  • corporate tax - 30%;
  • VAT - from 0% to 20%, depending on the category of goods or services;

Corporations formed under the International Companies Act are fully exempt from corporation tax on business outside the island's jurisdiction. An investor may establish a company in Grenada and apply for tax exemption for 20 years.

Resident individuals pay income tax in the amount of:

  • 10% if income is less than XCD 24,000 (about $9,000) ;
  • 30% - in other cases.

There is no tax on inheritance, wealth, or capital gains, nor is there any stamp duty.

Companies in Grenada must keep accounting records. However, there is no requirement to file financial documents with regulatory authorities.

Open a business in Grenada: how Prifinance lawyers can assist

Grenada is an offshore country that offers privileges to foreign investors. Relatively simple local legislation protects the rights of business owners and creates a comfortable business environment. Prifinance lawyers will make the company establishment process in Grenada as simple and convenient as possible. We will take care of the preparation of documents and solve critical administrative tasks. Our staff can be entrusted with bookkeeping and annual maintenance. In addition, Prifinance guarantees client confidentiality.

Cooperation

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