Grenada Country Summary

FATF Status

Grenada is not on the FATF List of Countries that have been identified as having strategic AML deficiencies

Compliance with FATF Recommendations

The last Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in Grenada was undertaken in 2022. According to that Evaluation, Grenada was deemed Compliant for 8 and Largely Compliant for 9 of the FATF 40 Recommendations. It was deemed Highly effective for 0 and Substantially Effective for 0 of the Effectiveness & Technical Compliance ratings.

Grenada faces challenges related to crime and corruption, although it has made strides in addressing these issues through legal frameworks and international commitments. While the country has a relatively stable governance structure and an active civil society, concerns about high-level corruption persist, and the judicial system is often slow to respond to complex cases, which can hinder effective law enforcement and crime prevention efforts.

Grenada presents a stable and investor-friendly economic environment characterized by political stability, a well-regulated financial system, and government support for key sectors such as tourism, agriculture, and renewable energy. The government actively promotes foreign direct investment (FDI) through various incentives, including tax holidays and a Citizenship by Investment (CBI) program, while ensuring a level playing field for both local and foreign investors. Despite challenges such as a small market size and vulnerability to natural disasters, Grenada remains an appealing destination for investment, particularly in sustainable tourism, agro-processing, and green energy sectors, supported by a proactive investment promotion agency, the Grenada Investment Development Corporation (GIDC).