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Introduction | Information GRENADA Grenada is an island nation in the southeastern Caribbean Sea. It is the second-smallest independent country in the Western Hemisphere and is located north of Trinidad and Tobago and south of Saint Vincent and the Grenadines. Offshore businesses in Grenada are normally incorporated under the International Companies Act. For local businesses, other than as a requirement under the Fiscal Incentives Act (for manufacturing enterprises) there is no specific obligation for a business to be incorporated as a company. Thus an investor can form a sole proprietorship, a partnership or limited liability company. The usual form of business however, is a limited liability company and investors are encouraged to incorporate. Before an individual can apply for a license for banking, insurance, etc, an international company, or International Business Company, has to be formed. Such a company can be established to engage in any lawful activity and is fully tax exempt. There are no foreign currency restrictions. The key features of the Grenada International Company are: Ease of incorporation No disclosure of shareholders or directors unless the international company intends to engage in a licensed activity such as insurance, banking or trust, international betting or company management No filing requirements No audit requirements unless a licensed entity Incorporation within 24 hours Confidentiality. At present over 4,000 international companies are incorporated in Grenada; the island is a popular jurisdiction for Americans and Europeans.