If you want to incorporate in Grenada, reading this will help you becoming knowlegeable on the specific tax laws and rates for an IBC, which is the most common company type in Grenada.
International Business Companies (IBCs) in Grenada are entitled to do business outside the country and may have restrictions to trade and own real estate within the territory or to engage financial services activities. An IBC may be tax-exempt for 20 years. Therefore, IBCs income accrued offshore, from our research, but seek professional advice, is not taxable. This ranks Grenada as 1st when compared to corp. taxation rate internationally. An annual business license fee may apply.
An IBC in Grenada may be formed by one or more shareholders, one or more directors and a secretary, who may be individuals or corporations. A registered agent is required. Standard authorized capital may be US$ 50,000. Shares may be issued with par value or non par value, redeemable or preference shares, registered or with or without rights to vote. Bearer shares are not allowed.
Details of beneficiaries may not be publicly disclosed. IBCs may not be required to file annual reports or financial statements, but they may be required to prepare and maintain accounting records.
Dividends received or paid by an IBC are not subject to taxation. Dividends are distributions of earnings of the legal entity, decided by the board, to a particular class of shareholders. Dividends can be either cash payments, shares of stock, or other property. Capital Gains are not subject to taxation. A capital gains tax is levied on the profits that a corporation or natural person realizes when he or she sells sells a capital asset for a price that is higher than the purchase price.
Payments made by an IBC on dividends, interests, royalties or any kind of fees to non residents are not subject to withholding tax.
The VAT rate in Grenada is 15.00%, which ranks Grenada as 80th overall with regards to VAT taxation rate internationally.
There is no known tax on wealth in Grenada. There are no known inheritance taxes in Grenada. There are real estate and transfer taxes.
The above is not tax or legal advice for your particular facts and circumstance. Incorporations.io can to refer you to a tax advisor in Grenada who can properly advise you. Ready to get started? Click the free consultation button above.
It takes approximately 32 hours to file and prepare documents for a Grenada Common law.
The corporate tax is approximately 0% which is 1 in the world.
Owners of a company in Grenada are not allowed to carry back a loss .
The vat rate in Grenada is 15% which ranks 78 in the world.