Priority Investments

INCENTIVES FOR INVESTMENT

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