Priority Investments

Incentives for Investment

• Entitlement
• Benefits
• Requirements
• Quantifying Investments

Entitlement

The following categories of business enterprises are granted investment incentives:

• Business enterprises carrying out a priority investment project
• Business enterprises operating within priority industries/sectors
• Business enterprises located within a priority geographic areas of the country

Priority Investment projects are projects which are in excess of EC$500,000 or employing in excess of 20 Grenadians and contributes the following to the Grenadian economy:

• Increase foreign exchange, either through exports or import substitution
• Technology transfer/acquisition
• Reduce dependence on imported energy
• Enhance skills development and skill-based employment
• The sustainable use of domestic raw materials, supplies and services
• Incremental economic diversification with significant value-added
• Linkages between emerging & traditional economic sectors

Priority Industries/Sectors are industries or sectors which Government considers will make substantial contribution to the socio-economic development of Grenada. These are:

• Tourism
• Manufacturing
• Agriculture & Agri-business
• Information Communication Technology (ICT)
• Financial Services
• Education & Training
• Health & Wellness
• Creative
• Energy
• Research and Development

Priority Investment Areas are geographic areas of the country which the government deems necessary to encourage investment. Government is in process of defining these areas.

Benefits

Fiscal incentives granted to qualifying business enterprises are follows:

• Exemption from customs duties on plant, equipment and raw materials.

Non Fiscal Incentives are as follows:

• No restrictions on foreign ownership
• No restrictions on foreign currency transactions
• No restrictions on the repatriation of profits, capital and dividends
• Double Taxation Relief