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, with limited human trafficking and organized crime activities, although concerns about sexual exploitation and local smuggling persist. The government has implemented measures to combat corruption, such as the Integrity in Public Life Act, and while the judicial system is slow, there is a strong legal framework aimed at addressing these issues, supported by an active civil society that promotes social protection and crime prevention initiatives.

Grenada presents a favorable economy and investment climate characterized by political stability, a strong legal framework, and a commitment to equitable treatment for both national and international investors. The country has seen significant growth in foreign direct investment, particularly in the tourism sector, bolstered by its Investment Migration Agency, which has reported a remarkable increase in revenues. With a robust incentive regime, including tax exemptions and streamlined bureaucratic processes, Grenada continues to attract diverse investments across various sectors, including tourism, agribusiness, and renewable energy, while maintaining a focus on transparency and ease of doing business.