In Grenada, an offshore bank account in 2026 is by definition a money deposit account held with a Grenadian bank that gives access to banking services for business people as well as individuals who are not residing in the Grenadian territory.
In Grenada, the offshore bank account follows the objectives to satisfy the needs of foreign bank account holders who wish to transfer their savings and assets out of their country of permanent residence to access to the benefits offered by Grenadian financial institutions.
In Grenada, an overseas bank account for non-resident presents several advantages as an individual who his investing his or her money in the country is not taxed on interest or dividend generated through their deposits and tax on income is reduced from a normal rate of 30% to 15% only.
In Grenada, an offshore bank account can be opened either remotely via internet or with personal visit, depending on the Grenadian bank, and the opening of a Grenadian account requires the presentation off a passport, a proof of address and minimum deposit that can range between 10,000 and 50,000 US Dollars.