Business
Companies Act 1994 on the CARICOM model
The Companies Act 1994 follows the CARICOM harmonised model with articles of incorporation and abolition of ultra vires. The Corporate Affairs and Intellectual Property Office administers the register, and incorporation is generally completed within days. Grenada repealed its international business company legislation to meet OECD and EU standards, so the offshore regime that once operated is closed to new business.
Key rules
- Jurisdiction — National registration through CAIPO
- Deadline — Annual return: filed each year with the Registrar
- Deadline — Change of directors or registered office: notice within 15 days
- Deadline — Business licence: renewed annually where required
Governing law
- Companies Act 1994
- Corporate Affairs and Intellectual Property Office Act
- Bankruptcy and Insolvency Act
- Investment Act 2014
In practice
The repeal of the international business company and offshore banking regimes is the single most important recent change, because structures created under the old acts had to be migrated or wound up and advisers still occasionally encounter dormant entities with no valid status. The Investment Act 2014 centralised incentives through Grenada Investment Development Corporation approval rather than ad hoc concessions.