Starting a Business in Grenada

This table summarizes the procedures and costs associated with setting up a business in Grenada.

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Legal Form: Private Limited Liability Company
City: St. George's

	Procedure	Time to complete:	Cost to complete:
1	Search and reserve company name	3 days	EXD 10
2	Prepare and notarize company statutes	2 days	EXD 2500
3	Register with Supreme Court Registry and receive company certificate; register with Internal Revenue Department and National Insurance Scheme	10 days	EXD 1200
4	Register for taxes	2 days	no charge
5	Register for social security	1 day	no charge
*6	Make company seal	2 days (simultaneous with previous procedure)	EXD 75

* Takes place simultaneously with another procedure.

Procedure 1.: Search and reserve company name
Time to complete:: 3 days
Cost to complete:: EXD 10
Name of Agency:
Comment:: To search and reserve a company name, the company must submit a business registration application along with the articles of incorporation, the notice of address, the notice of directors, and the request for company name search.

Procedure 2.: Prepare and notarize company statutes
Time to complete:: 2 days
Cost to complete:: EXD 2500
Name of Agency:
Comment:: The amount charged to prepare and notarize company statutes is the registrar’s submission fee.

Procedure 3.: Register with Supreme Court Registry and receive company certificate; register with Internal Revenue Department and National Insurance Scheme
Time to complete:: 10 days
Cost to complete:: EXD 1200
Name of Agency:
Comment:: The entrepreneur must file a statement of particulars to the Supreme Court Registry that includes a statutory declaration that all particulars are true. The Registrar issues the company certificate in 1–2 weeks.

Procedure 4.: Register for taxes
Time to complete:: 2 days
Cost to complete:: no charge
Name of Agency:
Comment:: After the form is completed at the tax authority, the tax number is issued the next day.

Procedure 5.: Register for social security
Time to complete:: 1 day
Cost to complete:: no charge
Name of Agency:
Comment:: Employee registration for social security is completed within a day of submitting the required forms at the National Insurance Scheme (NIS).