INTERNATIONAL BUSINESS COMPANIES [IBCs]
The International Companies Act of Grenada (the ‘Act’) was enacted for the purpose of allowing international business companies (‘IBC’) to incorporate in Grenada. The Act governs and regulates all matters related to IBCs including the requirements of incorporation.
Who can incorporate a company under the Act?
The Act states that ONLY a Registered Agent can incorporate an IBC under the Act. Afi Ventour & Co. is a Registered Agent in Grenada and we have considerable experience in acting on behalf of clients wanting to incorporate an IBC under the Act.
What companies can incorporate under the Act?
Our experience also includes transnational family law, where we ably assist clients with the settlement of disputes concerning property owned outside the jurisdiction of Grenada.
A company cannot incorporate under the Act unless it is an IBC. An IBC is a company that does not:
- Carry on business in Grenada with persons domiciled or resident in Grenada;
- Own an interest in real property situate in Grenada other than an interest in real property for the purposes of use as an office;
- Engage in offshore banking business, provide trust services or engage in investment brokerage unless licensed to do so under a written law of Grenada; or
- Engage in offshore insurance business, merchant shipping or carry on any other type of international business unless licensed to do so under a written law of Grenada.
What we offer to our Clients
As Registered Agents, Afi Ventour & Co. will:
- Serve as Registered Agent for the intended IBC;
- Draft and register with the Register of International Companies, all requisite corporate documents for incorporation under the Act;
- Advise on the appropriateness and availability of a corporate name;
- Advise and assist with the issuance of new shares in the IBC;
- Advise and assist with the transfer of existing shares in the IBC;
- Maintain the share register;
- Be responsible for preparing and maintaining the registers, records, minutes (of all director and shareholder meetings) and financial books of the IBC;
- Serve as the IBC’s Registered Office in Grenada;
- Advise on all fees, including the annual licensing fee, payable to the Grenada Authority for the Regulation of Financial Institutions; and
- Liaise with the Register of International Companies and the Grenada Authority for the Regulation of Financial Institutions on behalf of the IBC.
Afi Ventour & Co. can also advise and assist on matters related to mergers and consolidations of IBCs with other IBCs, local or foreign companies.