Grenada, byname Isle of Spice, island country of the West Indies. It is the southernmost island of the north-south arc of the Lesser Antilles, lying in the eastern Caribbean Sea about 100 miles (160 km) north of the coast of Venezuela. Oval in shape, the island is approximately 21 miles (34 km) long and 12 miles (19 km) wide. The southern Grenadines—the largest of which is Carriacou, about 20 miles (32 km) north-northeast, with an area of 13 square miles (34 square km)—are a dependency.
The capital, St. George’s, on the southwest coast, is also the main port, having a fine natural harbour, and its picturesque pastel-coloured houses rise up the hillsides from the waterfront. The waterfront itself is known as the Carenage because island schooners were once careened (beached for cleaning or repair) there. St. George’s is the yachting and charter-boat centre of the eastern Caribbean.
Most of the population is black, having descended from African slaves, and there is a large minority of mulattoes and other mixtures. There are also small minorities of East Indians, descendants of indentured labourers brought to replace the freed slaves; descendants of the old French and British settlers; and more-recent immigrants from North America and Europe. Although English is the accepted language, a form of patois is still spoken by older people in the villages. Nearly one-half of the population is Protestant. More than one-third is Roman Catholic, and small but significant portions of the population adhere to the Rastafarian and Jehovah’s Witnesses’ faiths. Although Grenada is densely populated, its population grew slowly during the 20th century.
Grenada is an English-speaking country in the Eastern Caribbean, where conditions for efficient and convenient business are created. Companies in the jurisdiction can be created quickly and without hassle, and the legislation is very flexible. It, on the one hand, meets all the requirements of international financial institutions (therefore Grenada is an offshore with a good reputation), and on the other hand it provides entrepreneurs with ample opportunities for tax planning and optimization.
This is a good choice for investors and businessmen who want to conduct business on the world stage. In the state it is possible to establish trusts, mutual funds, international firms, use modern Internet banking and all the advantages of traditional offshore companies.
International bussiness Company(IBC)
|Governing corporate legislation|
The International Companies Act of 2002
Only one shareholder is required in order to incorporate.
Only one director is required to incorporate. The sole shareholder can become its only director for total control of the IBC. Directors can be natural persons or legal entities and do not have to reside in Grenada.
|Information published relating to company officers|
The shareholders’ names are not part of any public records.
Shareholders’ liability is limited to their share capital contributions.
|Accounting requirement/ compliance|
IBC’s are not required to file annual records or financial statements. Audits are not required. However, they are required to maintain financial records.
|Corporate income tax|
Non-resident companies like an IBC generating total income from outside of Grenada owe no taxes. Both the IBC and the shareholders are exempt from all taxes including: corporate tax, income tax, withholding taxes, dividends tax, interest tax, capital gains tax, transfer tax, gift tax, inheritance, tax and estate taxes. Grenada guarantees these tax exemptions for IBC’s for at least 20 years from the date of incorporation.
However, United States taxpayers along with residents of other countries taxing worldwide income must notify their governments of all earned income.
|Shared capital/paid up|
While a typical authorized share capital is $50,000 USD, there is no required minimum authorized share capital.
|Basis of the Legal System||Common law|
Secretary required, can either be a natural person or a company.
shares can be issued in one share of par value or no par value. Shares may be issued as preference shares, redeemable, or registered with or without the right to vote. Bearer shares are not permitted.
must have a local registered office.
IBC’s are not required to hold annual meetings for its members, shareholders, or directors. If they do hold meetings, they may take place in other countries. In addition meetings can be conducted by electronic methods as long as all qualified participants receive prior notice of the meetings day and time.
|Time to form||7-10 days|
Anniversary date of the company / Each Year
Convenient world time zone: GMT-4
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