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Grenada: Country and Foreign Investment

Business Environment

Grenada has approximate 700 miles (1,127 km) of roads, many of which have been newly resurfaced or rebuilt.

The country's major seaport is St. George's, the capital, where the sheltered natural harbour features an 800 foot pier with berth space for two to three vessels at a minimum depth of 30 feet. A general ports development, completed in 1985, provides a 250 foot schooner berth with 18 feet depth, a container park and other operational improvements. The port has 27,500 square feet of transit shed space and supporting warehouse and bond storage facility with the aim of separating cruise ship and cargo activities.

Grenada has two airports, a 1,300 foot airstrip in Carriacou, and the 9,000 foot International Airport at Point Salines capable of servicing the largest aircraft in the world. There is a departure tax per person payable at the airport upon leaving Grenada.

Power is supplied by the Grenada Electricity Services Ltd. (GRENTEL) from diesels. Upgrading of the system is continuous. The non-industrial current is 220 volts, single phase, 50 cycles. For industrial use, 410 volts, three phase, 50 cycle power is available.

The National Telecommunications Regulatory Commission of Grenada was established pursuant to the Eastern Caribbean Telecommunications Authority (ECTEL), ECTEL Treaty (Act 30 of 2000) and the Telecommunications Act (Act 31 of 2000) to regulate the newly liberalized telecommunications market in Grenada, Carriacou and Petit Martinique.

The country's water is supplied by the National Water and Sewage Authority (NAWASCO) from a series of catchments, rivers and deep wells. The water is clean and safe to drink.

All companies/businesses operating in Grenada must register with the National Insurance Scheme and pay 4% (at the time of writing) of an employee's salary/wage plus a matched 5% from the employer.

Businesses must also be registered with the Comptroller of the Inland Revenue with respect to VAT if the taxable turnover is expected to be above ECD120,000. VAT replaced the General Consumption Tax (GCT) on the sale of goods and services from February 1, 2010 and consists of a standard rate of 15%, a reduced rate of 10% for hotel accommodation and diving activities and a zero rate for certain foodstuffs, water and electricity.

VAT also replaced the Airport Departure Tax and the Motor Vehicle Purchase Tax (levied at rates of up to 15%).



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