Business
Starting a Business
Legal & Regulatory Framework
Legal and Regulatory Framework Investors may freely invest in all fields of lawful economic activity except activities prejudicial to national security or detrimental to the natural environment, public health or the national culture Investors must register a business name, a partnership or a limited liability company. A Registered business may be wholly-owned or a joint venture. Caricom investors are accorded Rights of Establishment and require alien landholding licenses to invest in property and a work permit to gain employment. BUSINESS REGISTRATION Procedure It takes Four (4) procedures, eight (8) days and costs US$14 to register a business in Grenada. Details are provided below. Business name search (3 days ,US$4) Business name registration (2 days, US$10) Tax registration( 2 days, Free) Social Security (1 day, Free) REGISTERING A BUSINESS NAME Forms of Businesses Allowed • Individual (Sole Proprietorship) with a registered business name under the Registration of Business Names Act, Cap 281 of the Revised Laws of Grenada • A partnership • A private or public company with limited liability for the shareholders under the Companies Act No 35 of 1994 Every business operating in Grenada is required to register a business name with the Supreme Court Registry within 14 days of commencement of the business operations. The process is as follows: 1. Determine type of business structure (Sole Proprietor, Partnership or Company) 2. Determine the business name 3. Prepare letter of application (in duplicate) in the prescribed form to the Registrar of the Supreme Court Registry requesting the registration of the business name under the Business Name Ordinance, Cap.281 of the Revised Laws of Grenada.
4. Prepare statement of particulars (in duplicate) in the prescribed form. A statement of particulars must include the following: a. The name of the business b. General nature of the business c. The principal place of business d. Where the registration to be effected is that of an individual i. The present Christian name and surname ii. Former Christian name and surname iii. The nationality iv. The usual residence v. The other business occupation of the individual e. Where the registration to be effected is that of a firm . For each of the individuals who are partners the following: i. The present Christian name and surname ii. Former Christian name and surname iii. The nationality iv. The usual residence v. The other business occupation i. Corporate name ii. Registered or principal office of every corporation which is a partner f. Where the registration to be effect ?????????????????????????%??????????????()???I????????????????????????????????????????????????????????????Q????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????%????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????M??????U?????%?????????M????A??????????? ??????I?????????Q??????????????????????????????????????????????????????????????????????????????????????????????????M??????
????I??????????????????????????
???Q????????????????????????????????????????????????????UL???????????????I??????????
???????????M?????????A?????????????????????? ??????9??????????????????????????????????????UL???????((??()???????????????????((