Reasons to Start Investing in Grenada

  • It is one of the most politically stable countries in the region.
  • Over the past thirty years, Grenada’s economy has grown at an annual rate of 3.4 percent.
  • Labor productivity is relatively high in Grenada, having achieved one of the highest productivity rates in the region in past years.
  • Prices in the country are considered to be low compared to some other countries.
  • Employment tax rates are also low in comparison with other countries in the region.
  • It also has a relatively low inflation rate and a fixed exchange rate for the currency.
  • It has an advanced infrastructure of transportation, electricity and communications.

Also read: A Simplified Definition of Commercial Law

Some of the Best Areas of Investment in Grenada

  • Manufacturing and light industries.
  • Tourism.
  • Transportation.
  • Banking and insurance.

Also read: The Most Important Branches of Commercial Law

Procedures for Establishing a Company in Grenada

  • Choosing a name for the company.
  • Determining the type of the company and its activities.
  • Creating a bank account and depositing the capital in it.
  • Registering at the Corporate Affairs and Intellectual Property Office.
  • Create a seal for the company.
  • Registering with the tax department.
  • Registering for social security.

Also read: The Importance of Having a Commercial Lawyer Before Starting Your Investment