top of page

Grenada

Delivery:

Price: $

Payment methods:

payment methods.webp
UK comapny formation (1).webp

About

Grenada

Capital
Official languages
Population 
Currency

ISO 4217

St. George's

English

112,203 (as of July 2020)

East Caribbean Dollar

XCD

Document checklist:

Process

Economy

Grenada has a strong and growing economy, with a GDP of $1.2 billion in 2019, according to the World Bank. The country has seen steady growth in recent years, with an average annual growth rate of 4.2% between 2015 and 2019. The main drivers of the economy are tourism, agriculture, and manufacturing. Tourism is the largest contributor to the economy, accounting for over 40% of GDP. Agriculture is the second largest contributor, accounting for around 20% of GDP. Manufacturing is the third largest contributor, accounting for around 10% of GDP. The country has a strong and diversified export sector, with exports of goods and services accounting for around 40% of GDP. The main exports are bananas, nutmeg, cocoa, and other agricultural products. The country also has a vibrant services sector, with financial services, telecommunications, and transportation being the main contributors. The government has implemented a number of reforms to improve the business environment and attract foreign investment. These reforms have helped to create a more stable and attractive investment climate. Overall, Grenada has a strong and growing economy, with a diversified export sector and a vibrant services sector.

Taxation

In Grenada, both corporate and personal taxation is levied by the government. 


Corporate taxation:

- The corporate tax rate in Grenada is 28% for both local and foreign companies.

- Corporations are required to file their tax returns within six months after the end of their fiscal year.

- Quarterly installments of corporate taxes are also required to be paid.


Personal taxation:

- Personal income tax rates in Grenada are progressive, with rates ranging from 15% to 30%.

- Individuals are required to file their tax returns by April 30th of the following year.

- Like corporations, individuals are also required to make quarterly tax payments.


The tax payment process in Grenada involves several steps:

1. Register with the Inland Revenue Division (IRD).

2. Obtain a tax identification number (TIN) from the IRD.

3. Keep accurate records of all income earned and expenses incurred.

4. Calculate the amount of tax owed based on the relevant tax rates and deductions.

5. Make quarterly tax payments by the due dates, either online or in person at the IRD office.

6. File annual tax returns by the due date, either online or in person at the IRD office.


The tax calendar for payments in Grenada is as follows:

- Quarterly payments: March 31st, June 30th, September 30th, and December 31st.

- Annual tax returns: April 30th of the following year.


It's important to note that failure to pay taxes on time can result in penalties and interest charges. Therefore, it is important to keep track of all tax obligations and to make timely payments.

Company incorporation application form

Representative

Chosen company name

Main business activity

Legal address of director

Extra services

Submit ✉

Your inquiry has been submitted. Thank You!

We will contact you shortly…

PDF application form

B2B hub provides fillable PDF application forms, you can simply save the filled form and send us by email clicking here  reg@b2bhub.uk or live chat

bottom of page