Forming a Company : Grenada Industrial Development Corporation

Organization : Grenada Industrial Development Corporation
Type of Facility : Forming a Company
Country: Grenada

Website : http://www.grenadaidc.com/InvestorsGuide/StartingUpaBusiness/tabid/103/Default.aspx#fc

Forming a Company:

Requirements:
The following is required to incorporate a company:
** A name that has been registered with the Supreme Court Registry
** At least one share

Related : Grenada Industrial Development Corporation Registering a Business Name : www.statusin.org/8866.html

** At least one shareholder
** At least one director
** A registered office
** An address for service

A company is not legally required to have a constitution. If the company has a constitution, it is generally filed at the time of incorporation. However, notice of the adoption of the constitution does not have to be filed until 10 working days after the constitution is adopted.

Preparing and Notarizing Company Statutes and Making Company Seal:
Procedures:
1.Procures the services of an attorney

2.Prepare and notarize the following company statutes:
a.Articles of Incorporation to include:
** The name of the company
** The class and maximum number of shares in the company
** Restriction on share transfer
** The number of directors
** Restrictions if any on the business of the company
** Name of incorporated

b.Notice of Directors, which include:
The names of the Directors
The addresses and occupation of the Directors

c.Notice of Address to include:
Location of operations
Address if different from main place of operation

3. Articles of Incorporation to include: Submit company statutes along with required stamps and filing fees to the Supreme Court Registry

4. Supreme Court Registry will stamp and file documents, returns certified copies along with certificate of incorporation

Cost:
The cost to set up a company is as follows: US$1,369 (local registrant), US$1,848 (foreign registrant)
Business Name Registration Certificate $4

Filing Fee:
$442 – Local Company for Profit
$921 – External/Foreign Company

Attorney’s fee : $921

Other Charges:
Amendment to Business Name $2
Certified Copy $2

* All fees are quoted in US Dollars

Quality of Life :
Grenada has one of the most pristine physical environments in the Caribbean and offers investors, tourists, migrant workers and overseas students a high quality of life, low crime, and a relatively un-spoilt natural environment.

The country has significantly fewer prisoners per capita than the United States and a range of countries in the Caribbean region. Energy consumption per capita and carbon emissions is relatively low and life expectancy is approximately 74.057 years. The country is classified as an upper middle-income country by the World Bank.

The physical beauty and tropical climate of the country are complemented by its rich history, and vibrant living cultural heritage. The island’s easy rhythms and friendly openness of its residents evoke an atmosphere that has long since vanished elsewhere. Residents are famous for their friendly and hospitable nature.

Contact Address :
Grenada Investment Development Corp.
Frequenté Industrial Park
St. George’s
Grenada, West Indies
Phone: +1 (473) 444-1033-35
Fax: +1 (473) 444-4828
E-mail: invest AT grenadaidc.com