Grenada’s investment opportunities are rooted in its natural endowment of abundant sand, sun and sea. The country’s relatively untapped opportunities for development mean that a treasure trove of attractive sites are still available for the development of hotels and tourist facilities to compliment one of the most diversified tourism offerings in the Caribbean with rain forests, crater lakes, waterfalls, white sand beaches, exotic underwater life and diversified flora and fauna. In addition, most sectors of the economy are open to investment with only a few exceptions related to national security and strategic areas of social and natural protection.
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Grenada’s pristine environment offers investors, tourists and locals a high quality of life, low crime and unspoilt surroundings. The country boasts a steady annual growth rate of 3.4% over the last 30 years which remained positive, at 1.6%, even during the global financial crisis in 2008.
Grenada has a relatively young, English-speaking workforce with high levels of literacy (96%) and labour productivity. As one of the most open economies in the world, the regulatory environment is comparatively free and the country’s economic structure highly diversified. Prominent industries include agriculture, manufacturing, tourism, construction, communications, transportation and government.
Doing business in Grenada is relatively easy. Grenada is ranked 84th in the world on the ease of doing business and has an enhanced ranking in areas such as the ease of dealing with construction permits (16th), protecting investors (24th), starting a business (40th), employing workers (51st), trading across borders (63rd), getting credit (68th) and paying taxes (74th).
Grenada’s tax regime is transparent and offers various incentives and concessions to investors as well as freedom from exchange controls. Benefits may include corporate tax incentives, full exemption from import duties, tax relief benefits and export allowances.
|Value Added Tax||15% on all goods & services|
|Value Added Tax||10% on Hotel Accommodation|
|Personal Income Tax||15% flat on Grenada-sourced income only|
|Capital Gains Tax||None|
Every business operating in Grenada must register a business name, partnership or limited liability company and register with the Inland Revenue Department. Registered businesses may be wholly owned or joint venture and the procedures are the same for sole proprietorship, partnership and corporations.
CARICOM investors are accorded Rights of Establishment. Non-National investors require alien landholding licenses to invest in property and a work permit to procure employment.