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Grenada

Grenada Flag

Country: Grenada
Region: Caribbean
Currency: East Caribbean dollar (XCD) (EC$)
Languages: English
Time Zone: UTC -4

Phone Code: +1473

Communications: OK

Formation Cost: 800 - 2000 USD$
Formation Time: 11 - 15 days
Maintenance cost: 700 - 1100 USD$

Executive Summary: Grenada is the largest of a group of Caribbean islands, north of Trinidad and Tobago. Thanks to its historic links to Britain, the population of 109,000 has English as its official language. Grenada relies on tourism as its main source of foreign exchange, but the development of an offshore financial industry has also contributed to growth in national output. The currency is the Eastern Caribbean dollar (XCD), which is fixed to the US dollar at USD1 = XCD2.70. Grenada is on the southern edge of the hurricane belt, but the occasional hurricanes can be devastating; Hurricane Ivan in 2004 and Hurricane Emily in 2005, both caused serious damage, although the island has recovered well. Foreign investment is welcomed, but there are some restricted sectors of the economy. Domestic companies are taxed on their profits, but the offshore sector is largely free of taxation; and investors once accepted are given good fiscal incentive packages. The offshore sector offers International Business Companies, Banking, Insurance and Gaming regimes.

Suitable for: Shipping, Aviation, Yachting
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Company Purpose Stats:

Wealth Management:

 

Treasury Management:

 

Banking:

 

Insurance:

 

Fund Management:

 

Shipping:

 

Aviation:

 

Yachting:

 

Trading Companies Goods:

 

Trading Companies Financial:

 

Intellectual Property:

 

Holding Companies:

 

E-Commerce:

 

E-Gaming:

 

Property Ownership:

 
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Vehicle Types: Limited liability companies, joint ventures, trusts, sole proprietors, general partnerships and limited partnerships

Capital primary business districts: St. George's

Good Relationships: Antigua and Barbuda, Barbados, Belize, Canada, Dominica, Guyana, Jamaica, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Suriname, Trinidad and Tobago, United States

Bad Relationships: Burma, Cuba, Iran, Korea (Democratic People's Republic of), Libya, Somalia, Sudan, Syria

Tax Burden - Business: Moderate

Tax Burden - Individual: Moderate

Headline tax rates: CIT 30%, PIT 30%, VAT 15%

Treaty Jurisdictions: Antigua and Barbuda, Barbados, Belize, Dominica, Guyana, Jamaica, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Trinidad and Tobago, United Kingdom

TIEA Jurisdictions: Aruba, Australia, Belgium, Denmark, Faroe Islands, Finland, France, Germany, Greenland, Iceland, Ireland, Netherlands, Norway, Poland, Sweden, United Kingdom, United States, Vanuatu

Information Links:

 

 

 

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Important Notice: Wolters Kluwer TAA Limited has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.

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