Incorporating & Registering A Company in Grenada

Grenada is more popularly known as the isle of spice because the country is one of the largest exporters of nutmeg. The island is 133 square miles, it has a rich political history and is home to St. George’s University. These factors make the country an interesting business hub for agricultural entrepreneurship, medical entrepreneurship and other entrepreneurial pursuits.

So how do you start up in the isle of spice?

The process of incorporating and registering a business in Grenada is a six step process. Overall the process will cost you XCD $3779 or USD $1400 and will require approximately 15 working days.

 

Search And Reserve Company Name

The first step of the incorporation and registration process is to search and reserve the company’s name. To do this, the company will file two copies of the name search and reservation form at the Corporate Affairs and Intellectual Property Office.

COST:  XCD $10 or USD $4

TIME: 3 days

 

Prepare and Notarize Company Statutes

Preparing and Notarizing Company Statutes will also be completed via the Corporate Affairs and Intellectual Property Office. This part of the process requires retaining the services of a  lawyer and is responsible for a large part of the overall cost.

COST: XCD $2500 or USD $925

TIME: 2 days

 

Register with Corporate Affairs and Intellectual Property Office 

After the company’s statutes have been prepared and notarized they are to be submitted for registration to the Corporate Affairs and Intellectual Property Office. The certificate of registration will be received after 5 days.

COST: XCD $1200 or USD $445

TIME: 5 day

 

Make Company Seal

A company seal can be made at a local seal making shop by business owners/founders.
Register for Taxes

COST: XCD $69 or USD $25

TIME: 2 days

 

Register for Taxes

The next step is to make a visit to the Department of Inland Revenue to register your company for taxes.

COST: FREE

TIME: 2 days

 

Register for Social Security

The final step is to register for social security. Employee registration will be issued by the Social Security Institute within a day of submitting the required forms at the National Insurance Scheme (NIS).

COST: FREE

TIME: 1 day