Business Formation

Search and reserve company name

Agency: Corporate Affairs and Intellectual Property Office

In order to search and reserve a company name, the company must file in duplicate the name search and reservation form with the prescribed fee XCD 10.

Time and cost: 2 days, XCD 10

Lawyer prepares company statutes

Agency: Lawyer

As lawyers are often used in practice, this is the amount charged to prepare and have the companies statutes submitted. Fees are set by the Grenada Bar Association.

Time and cost: 2 days, XCD 2,500

Register with Corporate Affairs and Intellectual Property Office and receive company certificate

Agency: Corporate Affairs and Intellectual Property Office

The Corporate Affairs and Intellectual Property Act No. 19 of 2009 dated October 15th, 2009 has established the Corporate Affairs and Intellectual Property Office as a separate entity from the Supreme Court Registry where entrepreneurs used to file a statement of particulars.

Time and cost: 3 days, XCD 1,200

Make company seal

Agency: Seal making shop

Business founders can make a company seal at the Seal making shop.

Time and cost: 2 days, XCD 100

Register for taxes

Agency: Inland Revenue Department of Taxes

After the form is completed at the tax authority, the tax number is issued the next day.

Time and cost: 2 days, no charge

Register for social security

Agency: National Insurance Scheme (NIS)

Employer registration for social security is completed within a day of submitting the required forms at the National Insurance Scheme (NIS).

Time and cost: 1 day, no charge