List (.pdf)
The territory of the state is 340 sq. km.
Population - 89,227 people (July 2002)
Capital - Saint George's
Administrative division - 6 parishes
Official language - English; the population also speaks the French patois dialect
The legal system is based on English law
Head of state - Queen ELIZABETH II since 6 February 2952, represented by Governor-General Sir Daniel WILLIAMS (since 9 August 1996)
National currency - East Caribbean dollar; the US dollar is also officially in circulation
Company law
International Business Companies Act 1996 (The International Companies Act)
Grenada International Financial Services Authority Act, No. 26 of 1999 (the
GIFSA Act)
Company type
International Business Company (IBC), hereinafter - the company.
Permitted activities
Any activity not prohibited by law. A special licence is required for banking, insurance and reinsurance, and trust services.
Prohibited activities
Companies incorporated under the International Business Companies Act are prohibited from conducting commercial activities with residents and owning real estate in the territory. It is also prohibited to engage resident companies for administrative management and to provide registered agent services for resident companies.
Registration time
48 hours from the time all required documents are provided.
Possibility to purchase ready-made companies
The law does not prohibit purchase of already registered companies.
Company name
Must not be identical or similar to names already existing and registered.
Company names may be registered in any language (with a mandatory translation into English or French).
The words "Limited", "Corporation", "Incorporated", "Societe Anonyme" or "Sociedad Anomina", “Public Limited Company”, “Societe”, “a Responsabilite Limitee”, “Berhad”, “Proprietary”, “Namloze Venootschap”, “Besloten Venootschap”, “Aktiengesellschaft” or “Limited Life Company”, or the abbreviations "Ltd", "Corp", "Inc", "S.A." “PLC”, “S.A.R.L”, “Bhd”, “Pty”, “NV”, “BV”, “A.G.” or “LLC”, will form part of the name of each company.
Documents required for registration
Memorandum of Association and Articles of Association.
Registered address
Provided by the registered agent and must be located within the administrative territory of the jurisdiction. It is used only for receiving postal correspondence from government authorities.
Company share capital
The authorized capital of the company is declared; there are no requirements for mandatory payment or for setting a minimum or maximum amount.
Proposed authorized capital
USD 1,500, divided into 1,500 shares with a par value of USD 1.
Shares
Registered shares and bearer shares may be issued, with or without par value, stated in any currency.
Shareholders
Shareholders of the company may be legal entities or individuals resident in any country of the world. The minimum number of shareholders is one.
Directors
Directors of the company may be legal entities or individuals resident in any country of the world. The minimum number is one director, vested with all powers except those within the exclusive competence of shareholders (determined by the memorandum, articles of the company and/or law).
Shareholder/director meetings
Meetings may be held in any country of the world; meetings by telephone are also possible. Minutes of meetings may be kept at any address specified by the shareholders of the company in the incorporation documents.
Information available on request by third parties
Confidentiality of owners and directors is guaranteed by law. Information from the incorporation documents, copies of which are kept in the companies register, may be provided to third parties only after an appropriate court decision made on the basis of evidence submitted regarding the company’s involvement in illegal sales of drugs or weapons, support of terrorist activities, or laundering of illegal proceeds obtained from criminal activity.
Documents kept at the registration office
The place of storage of incorporation and financial documents may be any country of the world.
Taxation
The company is exempt from taxes on profits, distributed dividends and capital gains.
Annual fees
Annual licence fee (IBC) - €187
Registration fee (IBC) - €224
Category one banking licence - €22,320
Category two banking licence - €18,450
Full trust business licence - €11,160
Captive insurance companies (licence) - €4,464
Registration fee (IBC) - €224
Category one banking licence - €22,320
Category two banking licence - €18,450
Full trust business licence - €11,160
Captive insurance companies (licence) - €4,464
Company bank accounts
The law does not restrict the company in its choice of banks or the countries where they are located, or the total number of accounts required for its own business needs. The law protects the confidentiality of information about the company's banking operations.
Double taxation avoidance agreements
No conventions or agreements have been concluded.