Business accounts: Grenada

Updated 6 October 2026

An honest assessment before work starts, the quote is fixed in writing.

A company account in Grenada is opened at a local bank supervised by the Eastern Caribbean Central Bank: it regulates banks in eight island states and issues the Eastern Caribbean dollar, pegged to the US dollar at 2.70 since 1976. The bank works with a company registered in Grenada that has real activity on the island: tourism, property, trade, services. Grenadian banks are reluctant to open accounts for companies set up only to hold a passport or assets abroad.

Who needs a company and account in Grenada

• Owners of resort property bought under the citizenship programme, to manage the property and receive rental income.
• Entrepreneurs on the island: hotels, restaurants, marine tourism, trade.
• Grenadian citizens building a business in the US on an investor visa: Grenada is among the countries with a treaty of commerce and navigation with the US, and a Grenadian passport allows applying for that visa. A company and account in Grenada itself are not required for it, but often help prove the origin of capital.

Company requirements

• Registration with Grenada's Corporate Affairs and Intellectual Property Office, articles and details of directors and shareholders.
• A registered address on the island and tax registration.
• Sector licences for tourism, trade and financial services.
• Ultimate owner details for the bank.

Taxes the bank will see

• Corporate income tax: 28% for resident companies; non-resident companies pay it only on Grenadian-source income.
• VAT: 15%, and 10% for hotels and dive centres.

Rates were checked against several independent sources.

Letting property through a company

If the company lets villas or apartments to holidaymakers, it needs a tourist accommodation permit and VAT registration at the accommodation rate. Rental income comes into the company account, and the bank compares it with management and booking contracts, so they are kept up to date.

Annual obligations

• An annual return to the Corporate Affairs office.
• A corporate income tax return.
• VAT returns if the company is registered for VAT.

Overdue filings are a common reason for the bank to suspend the account.

What the bank checks

• articles, certificate of incorporation and directors' powers;
• passports and proof of address of directors and owners, including all nationalities;
• origin of capital, especially for holders of a passport obtained by investment;
• a description of activity on the island, contracts, expected turnover and payment countries.

How opening works

1. Structure and company registration.
2. Licences and tax registration.
3. Bank file and origin of capital.
4. A meeting between the director and the bank.
5. An account in Eastern Caribbean and US dollars.

Why banks refuse

• The company has no activity in Grenada.
• The owner's first nationality or source of funds is not disclosed.
• Payments with higher-risk countries without a clear explanation.
• No sector licence for the stated activity.
• Overdue annual return or tax returns.

What we do

Murblz specialists register the company in Grenada with locally licensed partners, obtain licences and tax registration, prepare the bank file and the origin-of-capital explanation, and support the opening until the decision. We quote the cost after a short consultation; the decision always rests with the bank.

What we do

• Corporate account - opening assistance

See also

Personal account · Investment property · All country programs

FAQ