Grenada is a Caribbean island state comprising a main island as well as smaller surrounding islands, stretching north towards St Vincent and the Grenadines. Dubbed the “Spice Isle,” the hilly main island is home to numerous nutmeg plantations. It’s also the site of the capital, St. George’s, whose colourful homes, Georgian buildings and early-18th-century Fort George overlook narrow and picturesque Carenage Harbour. To the south is Grand Anse Beach, a vast white sand beach with resorts and bars that is undergoing a boom in construction spurred by the country’s relaunched Citizenship by Investment (second passport) programme.

In the past there were literally hundreds of Offshore Banks in Grenada, but these days they are long gone and the local banking sector is dominated by foreign-owned brands. Today the Grenadian regulatory authority Garfin is in charge of regulating the non-bank financial institutions sector covering insurance, betting and gaming, money services business and the like. Grenada is phasing out its “offshore” International Companies Legislation (Cap 152 – International Companies Act) and as of March 2020 had only 60 offshore companies in good standing.

Nonetheless, Grenada local companies can be useful for international structuring due to certain tax exemptions and tax treaties in place.

Grenada is an attractive and stable location for inward investment, especially via its successful Citizenship by Investment programme.

Offshore Pro Group offers:

• Grenada Citizenship by Investment
• Grenada Residence (employment or retiree residence)
• Grenada Investment Opportunities
• Grenada Banking (only for those with citizenship or residence)
• Grenada virtual office address with substance services

For further information on Offshore Pro Group services in Grenada, please contact us today!