RSS| Grenada - The Spice Isle | |
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Grenada
is a tri island independent state situated in the Eastern Caribbean to
the south of Puerto Rico. Grenada is also popularly known as the spice
island. The capital of Grenada, St. George's, is a beautiful town overlooking
a magnificent harbour and lined with buildings the architecture of which
dates back to the 18th Century. Grenada is rightly called the Isle of
Spice with a range of spices like cloves, nutmeg, ginger, vanilla, cinnamon......
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The population of Grenada is approximately 100,000 mainly of Caribbean descent. However, there are many Europeans and North Americans living on the island. English is the main language spoken on the island. |
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| The Eastern Caribbean Dollar (EC dollar) is the official currency in Grenada, however United States Dollars are accepted in most places. The exchange rate for the EC dollar is $2.70 to one United States dollar. The Government of Grenada is based on a democracy. The political climate is very stable. | |
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The Grenada International Financial Services Authority (GIFSA) was established as a statutory corporation by the Grenada International Financial Services Authority Act, Act No. 26 of 1999 (the GIFSA Act) in 1999. |
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GIFSA is managed by a board of directors which consists of seven (7) members and is responsible for the supervision and regulation of offshore services in Grenada. |
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The Grenada International Financial Services Authority (GIFSA) has responsibility for the offshore sector. The Government of Grenada has pledged its commitment to the development of Grenada's offshore industry and in this regard has implemented an offshore program which is rated among the best in the Caribbean and the world. There is at present legislation in force. |
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| Investment Opportunities in Grenada | |
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GIFSA is divided into 6 departments:
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During its first year of operation GIFSA has evolved and developed a stronger regulatory regime enhanced by professional staff and a well-balanced legislative framework. |
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I
N T E R N A T I O N A L
C O M P A N I E S
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The International Companies Act CAP. 152 of the Revised Laws of Grenada govern the incorporation of international companies or international business companies as they are popularly referred to. |
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| K E Y F E A T U R E O F I N T E R N A T I O N A L C O M P A N I E S | |
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An international company is incorporated by filing the company's Memorandum and Articles of Association with GIFSA. Government charges to incorporate an international company are US$234.00 and annual renewal fees are US$187.00. |
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| There are no specific legal requirements for the contents of the Articles of Association for an international company, however the content of the Memorandum of Association is contained at section 12 of the International Companies Act . | |
| Persons desirous of establishing an international company must use a registered agent as only Licensed Registered Agents are permitted to incorporate international companies in Grenada. | |
| At present over 4000 international companies are incorporated in Grenada and Grenada is a popular jurisdiction for Americans and Europeans. | |
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Source : Grenada International Financial Services Authority (GIFSA)
