Country overview

#144
Grenada

Country stats

Rating Points
25
This indicator describes the overall rating of a given jurisdiction on several parameters according to cryptocurrency operations - market volume, crypto regulation, business climate, taxation framework.
Crypto Penetration
1.2%
Estimated percentage of crypto users out of the country's total population based on public data.
Legal Entities
0
Number of crypto companies registered in the country based on regulator data if available or other types of public data.
Regulation Points
0
An overall assessment of the granularity of crypto regulation in a given country. A high score is also given to countries where cryptocurrency transactions are highly regulated.
Amount of crypto users
1 500
Total amount of crypto users out of the country's total population based on public data.
Taxation points
15
This figure, according to our analysts' calculations, indicates the overall level of tax burden for cryptocurrency transactions in a given country. The higher the indicator, the lower the burden.
Market volume points
0
A rough estimate of this jurisdiction's retail crypto market relative to the rest of the world. The higher the indicator, the higher the market potential.
Status of crypto
No info
General status of cryptocurrency regulation in this jurisdiction.
Crypto payments
No info
The legal status of cryptocurrency payments for goods and services in a given country based on information from regulators, public data and feedback from our community.
Security Level
Minor danger
The overall level of security in a given country based on open data.
Crypto Salaries
No info
The legal status of cryptocurrency salaries to employers in a given country based on information from regulators, public data and feedback from our community.
Business Climate
No info
Overall assessment of the friendliness of this country for crypto-business. This indicator takes into account the cost of obtaining a license and the attitude towards crypto entities in the country.
Stablecoin Regulation
No info
This indicator is evaluating the regulation of stablecoins in a given country. Complex regulation means that it is possible to issue steiblcoins and obtain a license for this activity. Basic regulation means that the issuance of stablecoins is possible, but not all legal aspects are defined in the law. Standard regulation means that there is a legal practice of steylcoin circulation in a given country.
Bad Factors
No
This section describes the unfavorable economic factors for crypto-business in a given country. These are countries that are under sanctions or on the FATF grey list and other factors.
Types of licenses
No licenses exist
Good
Medium
Bad
intro

This is general info about Grenada. A more precise overview will be published later. However, if you find any inaccuracy or have other feedback - please write us in telegram @ilya_ii or by e-mail - editor@cryptopenetration.com.

Grenada is a state in the Carribean region and a member of East Carribean Union. Based on Wikipedia (1) the total area of the country is about 348.5 km and the total population in 2021 was estimated at 124,610.

Grenada has a citizenship for investments program. Also, it has launched a digital nomad visa program (2) in 2021. This type of visa requires $1,500 annual payment and $37,000 applicants’ income per 1 year. Digital nomads are exempted from personal income tax.

Security level

  Based on the estimation of St.George Univercity (3) Grenada has a low level of violence and is “safer than some popular US states”. That’s why we define this country as having minor danger security level. Also Grenada has good review from expats on Quora (4) about its safety level.  

Crypto Payments

Currently we have no information about crypto regulation in Grenada at all. However, probably it’s possible to pay for Grenada citizenship program by crypto as for other East Carribean countries.

Crypto Salaries

No data.

Legal

As a member state of East Carribean Сentral Bank (ECCB) Grenada uses its digital currency - XCD. ECCB has its own crypto regulation approach, but we have no information about adoption of this framework in Grenada.

Although Grenada didn’t impose crypto regulation still, it’s known for its cooperation with Tron founder Justin Sun. In 2021 he became (5) the country’s representative in the World Trade Organization (WTO). However, Sun lost his diplomat status in 2023 after SEC lawsuit against him.

Taxation

Currently we have no clear information about tax regime in Grenada. On one hand digital nomads paying regular fees are free from personal income tax based on different digital nomad guides.

On another hand based on Migronis (6) “personal income up to XCD 24,000 is taxed at a rate of 10% in Grenada” and any amount in excess of this is subject to a 30% tax. Also Grenada has 28% CIT rate.

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