The ISO code of Grenada is GD according to the ISO 3166 standard. The local name of the country is the same as its English name. Grenada capital city is St. George's. People in Grenada speak the English language. On 7 February 1974, Grenada emerged as a sovereign political entity. In the year 02/07/1974, Grenada emerged as a sovereign political entity. The largest city in Grenada is St. George's.
Grenada is located in the UTC -04:00 time zone, which is also called Atlantic Standard Time or AST. The internet country code top-level domain (ccTLD) for Grenada is .gd. The International dialing code for Grenada is 1473. People in Grenada drive on the left side of the road. Total land area of Grenada is 344 km² (approx. 133 mi²). Grenada is not a landlocked country. It means that is is bordered by at least one major body of water.
Grenada is located in North America. Grenada is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life.
Doing business in Grenada
We offer various corporate services in Grenada jurisdiction. These services can serve both, people coming from Grenada and foreigners. If you plan on doing business in Grenada you might be interested in contacting us.
To find out about starting your business in Grenada click on company formation in Grenada.
To find out how to open a bank account in Grenada and moreover what type of account Confidus Solutions suggests to create, please click on bank account in Grenada.
Choose preferred service below or continue reading to find out more about Grenada.
Demographics of Grenada
The total population of Grenada is 108,339 people. In Grenada, the population density is 300 people per square kilometer (780 per square mile). Because of this statistic, this country is considered to be densely populated. The ethnic diversity is diverse according to a fractionalization scale which for Grenada is 0.2661. Grenada has approximately 7057 foreign immigrants. The median age is approximately 29.9 years. In Grenada, 42.09 in every 100 people use internet. Grenada has a Human Development Index (HDI) of 0.744.
The majority religion of Grenada is Christianity, Grenada is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Click on a link to read more on demographics of Grenada.
Culture of Grenada
People in Grenada speak the English language. According to data on inbound tourists in Grenada, 116,000 tourists arrive in the country each year. One of the most popular national dishes of Grenada is oil down. To read more click on culture of Grenada.
Geography of Grenada
Grenada is considered to be a large nation because of its total area. Its total land area is 344 km² (approx. 133 mi²). Grenada is located in North America. Its capital city is St. George's. Grenada has no land borders.
The highest point of Grenada is Mount Saint Catherine, with its official height being 840 m (2,756 ft). Including land mass and EEZ, the total area of Grenada is approximately 344 km² (~133 mi²). The most notable natural resources found in Grenada are timber, tropical fruit, deepwater harbors.To read more click on geography of Grenada.
Economy of Grenada
The currency of the country is eastern caribbean dollar. The symbol used for this currency is $, and it is abbreviated as XCD. 24% of population in the country are unemployed. The total number of unemployed people in Grenada is 26,001. Each year, Grenada exports around $0.04 billion and imports roughly $0.3 billion. The Gini Index of the country is 37. Grenada has a Human Development Index (HDI) of 0.744.Grenada has a government debt of 68.7% of the country's Gross Domestic Product (GDP), as assessed in 2012. Grenada is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Major industries in the country are food and beverages, textiles, light assembly operations, tourism, construction.
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Grenada is $1,326 billion. Each year, consumers spend around $645 million. The ratio of consumer spending to GDP in Grenada is 78%, and the ratio of consumer spending to the world consumer market is 0.002. The corporate tax in Grenada is set at 30%. Personal income tax ranges from 0% to 30%, depending on your specific situation and income level. VAT in Grenada is 15%. In 2013, Grenada received 7.6 million USD in foreign aid.In 2014, the foreign aid amounted to 12.2 USD.To read more click on economy of Grenada.
Infrastructure of Grenada
In Grenada, 90.9% of the population has access to electricity. There are 80 internet hosts in Grenada. Grenada has 3 airports nationwide.
The number of road motor vehicles per 1000 inhabitants in Grenada is 7. To read more click on infrastructure of Grenada.
Politics of Grenada
Grenada, is a parliamentary democracy under constitutional monarchy. With regard to political and civil freedoms, Grenada is 1. Citizens in Grenada experience total freedom. The majority of countries in which citizens enjoy expansive civil liberties and political freedoms are representative democracies, in which officials are directly elected by citizens to advocate for their needs and desires. Free countries are often bolstered by healthy economies and high-functioning governments. The head of the government is Elizabeth II.
According to the World Bank Group, the government effectiveness index of Grenada is -0.12. This indicates that the government of Grenada is mediocre. While some public and civil services are limited, in other cases they can be considered adequate or even effective. Potential investors should carefully evaluate the governmental situation in Grenada before considering any business maneuvers.In Grenada, the legislative power is vested in a Parliament. The strength of legal rights index for Grenada is 6. Overall, it is considered to be rather adequate - bankruptcy and collateral laws are able to protect the rights of borrowers and lenders at least decently; credit information is msotly sufficient and generally available. In 2013, Grenada received 7.6 million USD in foreign aid. In 2014, the foreign aid amounted to 12.2 USD. Grenada is a member of the United Nations (UN). On 17 September 1974, it joined the UN as a full member state. Grenada is a member of the World Bank. To read more click on politics of Grenada.
Environment of Grenada
Grenada emits 2.4 metric tons per capita of CO2. 40 km² of Grenada's territory is covered in forests. and forest land comprises 12% of all the land in the country. The number of road motor vehicles per 1000 inhabitants in Grenada is 7. To read more click on environment of Grenada.
Company formation in Grenada
The development of telecommunications and economic globalization has made it possible for interested investors to form companies around the world. With proper research, financial investments, and legal backing, business ventures can safely be established in Grenada.
When establishing a company in Grenada, an interested investor must do due diligence with regard to legal processes, international regulations, and sufficient investment for success. It is critical to understand cultural, social, and political factors of Grenada that will affect the establishment and growth of one's business. Contact us or click on company formation in Grenada to read additional information when setting up a business.
Bank account opening in Grenada
With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Grenada. This opportunity for international accounts and investments offers several advantages based on economic regulations and tax structures. Interest rates and fees vary depending on your interests.
When considering opening a bank account in Grenada, one must enlist the help of international experts to guide them through the process. To find out more about our banking services click on bank account in Grenada or contact us.