Starting Business
• Register the Company for Taxes.
• Register the Company for Social Security.
• Make Company seal.
• Open bank account.
• Apply for relevant permits & licenses.
COSTS
The cost to set up a company is as follows:
• US$1369 (Local Company for profit).
• US$1848 (Foreign Company).
• Attorney’s fee US$921.
• Name registration certificate US$4.
• Filing fee US$442 (Local companies)
US$921 (foreign companies).
• Amendment to Business Name US$2.
• Certified Copy US$2.
PREPARING AND NOTARIZING COMPANY STATUTES
1. Procure the services of an attorney.
2. Prepare and notarize the following
company statutes:
A. Articles of Incorporation to include:
I. The name of the company.
II. The class and maximum number of shares
in the company.
III. Restriction on share transfer.
IV. The number of directors.
V. Restrictions if any on the business of the
company.
VI. Name of incorporated
B. Notice of Directors, which include:
The names of the Directors
I. The addresses and occupation of the
Directors
C. Notice of Address to include:
• Location of operations Address if different
from main place of operation Registering a
Company with The Supreme Court
Registry
• Submit company statutes along with
required stamps and filing fees to the
Supreme Court Registry
• Supreme Court Registry will stamp and file
documents and return certified copies
along with certificate of incorporation
REGISTERING FOR TAXES
Every business operating in Grenada is
required to register with the Inland Revenue
Department within one year of commencement
of the business operations. However, where
the business provides a service which attracts
VAT, registration is required prior to the first
day of operations.
REGISTERING FOR TAXES
1. Present to the Inland Revenue Department
a copy of the Business Registration
Certificate
30
2. Present proper Identification
(DriversLicense, NIS Card)
3. Complete the Tax Registration Form.
A Tax Ide