OUR PRICES

The description of corporate structures and prices quoted below is serving as a general guide and may be subject to the most recent changes of the legislation in various jurisdictions. We invite you to contact us for the latest update and free quotation.

COUNTRY: Grenada

Grenada Offshore Company

Legal form: 'Offshore' businesses in Grenada are normally incorporated under the International Companies Act, Cap. 152, as amended in 2002. International investor can form a sole proprietorship, a partnership or limited liability company. The usual form of business however, is a limited liability company.

Name of the company: Grenada companies’ names must end with one of the following words, or their relevant abbreviations - Limited, Corporation, Incorporated, Societe Anonyme, Sociedad Anonima.  The following names to be used, require licensing: Bank, Insurance, Assurance, Re-Insurance, Trust, Trustee, Savings, Royal, Asset management, Fund Management, Investment Fund, Building Society, Municipal, Chartered. Names denoting any connection to local, state or national Governments are generally prohibited.

Memorandum and Articles of Association: An International Business Company (IBC) is incorporated in Grenada by an application made to the Registrar of Companies. Memorandum and Articles of Association must be lodged with the Registrar by the Licensed Registered Agents. Memorandum specifies the activities in which the company may engage and Articles of Association specify the rules governing the internal management of the company. There are no specific legal requirements for the contents of the Articles of Association for an International Company, however the content of the Memorandum of Association is contained at section 12 of the International Companies Act.

Shareholders: A minimum of one shareholder is required which may be an individual or a corporate body. The details of company beneficial owners and shareholders are not part of the public records. The International Companies Act requires registered agents to maintain records of the names and addresses of directors and beneficial owners of all shares, as well as the date the person’s name was entered or deleted on the share register.

The share capital: There is no specific minimum capital requirement. The standard authorized share capital is US$ 50,000. The minimum issued capital may be one share of no par value or one share of par value. Issued shares must be fully paid. Registered shares, shares of no par value, preference shares, redeemable shares and shares with or without voting rights are permitted. The International Financial Services (Miscellaneous Amendments) Act 2002 requires all offshore financial institutions to recall and cancel any issued bearer shares and to replace them with registered shares. The holders of bearer shares in non-financial institutions must lodge their bearer share certificates with a licensed registered agent. These agents are required by law to verify the identity of the beneficial owners of all shares and to maintain this information for seven years. GIFSA was given the authority to access the records and information maintained by the registered agents, and can share this information with regulatory, supervisory, and administrative agencies.

Directors of the company: Grenada IBC requires a minimum of one director and corporate directors are permitted. Details of the directors do not appear on the public file. There is no requirement to have resident directors.

Registered office and local agent/secretary: Grenada companies must maintain a registered office and registered agent within Grenada who may be corporate body or individual resident in Grenada. There is a requirement to have a company secretary who can be an individual or body corporate.

Taxation: Grenada International Business Companies are exempt from the payment of taxes, duties and similar charges in Grenada for a period of twenty years, in connection with: Income Tax, Withholding Tax on dividends, returns or other interests, Business Levy and  Aliens Land-Holding Tax.

Audit and financial returns: Whilst there is no requirement to file audited accounts or annual returns with the authorities, a company is required to keep financial records, which should reflect the financial position of a company.

Meetings: The directors and the shareholders meetings need not be held in Grenada; also there is no requirement for an Annual General Meeting. All meetings may be held outside Grenada, by telephone or other electronic means. Alternatively, directors and shareholders may vote by proxy.

Time needed for formation: Usually it is 1 working day, but we need up to 10 working days for legalization of the documents and delivery by courier.

In order to proceed with the formation of the Grenada International Business Company please visit our  how do I start  page and then proceed to  filling in our application form