Choosing an Accountant, Lawyer or Adviser in Grenada: A Checklist

Every business in Grenada eventually needs professional help. A company has to be registered and its records kept; tax returns have to be filed with the Inland Revenue Division; leases, employment contracts, loan documents and land purchases need legal review; and growth brings questions about structure, financing and compliance that are expensive to get wrong. The quality of the advisers a business chooses has a direct effect on how smoothly all of this goes.

Grenada is a small market where professionals are often known by reputation and recommendation, which helps, but can also make it awkward to ask hard questions or change advisers. This checklist covers which professional does what, how to assess them, what to agree before work starts and the warning signs that suggest looking elsewhere. It applies equally to a sole trader filing a first tax return and to a growing company that has outgrown the friend who used to keep its books.

Who does what

Attorneys-at-law. Lawyers in Grenada are admitted to practise by the courts and are members of the Grenada Bar Association. They handle company formation documents, contracts, leases, property transactions including title searches and conveyancing, employment issues, debt recovery, disputes and litigation, licensing applications and, for non-nationals, Alien Landholding Licence applications.

Accountants. Qualified accountants prepare financial statements, manage bookkeeping and payroll, prepare and file tax returns including VAT, income tax and PAYE, and advise on tax planning and structure. Many hold international qualifications such as ACCA, CPA or CA designations. Audits required by law, lenders or funders must be carried out by appropriately qualified auditors.

Bookkeepers. Handle day-to-day record-keeping, invoicing, reconciliations and sometimes payroll. A good bookkeeper keeps records in order so that an accountant's work is quicker and cheaper.

Business advisers and consultants. Help with business plans, financial projections, loan and grant applications, marketing, operations and management. Credentials vary widely, so evaluate them on track record.

Other specialists. Land surveyors, valuers, quantity surveyors, architects, engineers, insurance brokers and human resources consultants are needed for particular decisions such as property purchases, construction, financing and staffing.

Credentials and background to check

Before engaging any professional, verify the basics. A quick check now avoids problems that are difficult to unwind later:

• For lawyers, confirm that the person is admitted to practise in Grenada and in good standing; the Grenada Bar Association or the court registry can help.
• For accountants, ask which professional body they belong to and whether their qualification is current; ask auditors specifically about their authorisation to sign audit opinions.
• Ask how long they have practised in Grenada and how familiar they are with the Inland Revenue Division, CAIPO, the Physical Planning Unit or other agencies relevant to your business.
• Ask for examples of similar work, such as businesses of your size and sector, while respecting confidentiality.
• Seek references from other clients, and ask other business owners, your bank or the Grenada Chamber of Industry and Commerce for recommendations.
• Check whether they carry professional indemnity insurance.
• Ask who will actually do the work: the senior professional you meet or a junior colleague.

Questions to ask at a first meeting

A first meeting is an interview in both directions. Explain your business and what you need, then listen to how the professional responds. Do they ask sensible questions about your situation, or jump straight to a standard package? Can they explain things clearly without jargon? Do they mention limits on what they can do, or areas where another specialist would be needed? Good professionals are comfortable saying when something is outside their expertise.

Ask practical questions too. How do they prefer to communicate, and how quickly do they usually respond? What do they need from you, and in what form? What are the key deadlines for your business, such as tax filings, VAT returns, annual returns to CAIPO and NIS contributions, and will they remind you of them? For lawyers, ask how long typical transactions take and what can delay them, such as title problems or approvals. For accountants, ask which accounting software they work with and whether they can help you set up systems that make year-end work easier.

Agreeing fees and terms

Get an engagement letter. Ask for a written engagement letter setting out the scope of work, fees, timing, responsibilities on each side and how either side can end the arrangement. This is standard practice for reputable firms.

Understand the fee basis. Professionals may charge fixed fees for defined tasks, hourly rates, monthly retainers or, for certain property transactions, fees linked to value. Ask for an estimate and how it might change.

Ask about disbursements. Government fees, stamp duty, registration charges, valuation fees and courier costs are usually charged on top of professional fees. Ask for a list in advance.

Agree on billing. Know when invoices are issued, how payment is expected and whether a deposit is required, particularly for property and litigation work.

Keep scope clear. If you ask for extra work, confirm whether it is covered or will be charged separately, to avoid surprises on the final invoice.

Overseas advisers and local counsel

Returning nationals and foreign investors often already have an accountant or lawyer in the United States, Canada or the United Kingdom and are tempted to rely on them. Overseas advisers can be valuable for questions about tax in your home country, international structures and your personal affairs, but they are not qualified to advise on Grenadian law, Grenadian tax filings or local procedures, and they cannot appear before Grenadian courts or agencies.

The practical answer is to use both and make sure they talk to each other. A local lawyer handles company documents, property transactions and licences under Grenadian law; a local accountant handles filings with the Inland Revenue Division and NIS; the overseas adviser deals with reporting obligations at home. Agree at the start who is responsible for what, share documents between them with your consent, and avoid assuming that one has checked something the other was handling.

Warning signs

Most professionals in Grenada are competent and ethical, but problems do occur. Consider changing advisers if you notice any of the following:

• Persistent delays and unanswered messages, particularly around filing deadlines.
• Reluctance to put fees or advice in writing.
• Requests to pay large sums in cash without receipts, or to pay client funds into personal accounts.
• Advice to under-declare income, avoid registration or bend rules, which exposes you to penalties and reputational damage.
• Conflicts of interest that are not disclosed, such as acting for both sides of a transaction without your informed agreement.
• Unwillingness to hand over your files and records if you decide to move to another adviser.
• Promises of guaranteed outcomes, such as approval of a licence, loan or grant.

Making the relationship work

Professional help is most valuable when it is used early and regularly rather than in a crisis. Meet your accountant before starting a business to choose the right structure and set up records, not after a tax demand arrives. Ask a lawyer to review a lease or contract before signing it, not after a dispute begins. Fees for preventive work are almost always lower than the cost of fixing problems later.

Do your part as well. Keep records organised, respond promptly to requests for information, and share relevant changes in the business, such as new staff, new premises, a large contract or a change in ownership. Review the relationship once a year: are deadlines being met, is the advice useful, and is the cost reasonable for what you receive? A small business that builds a long-term relationship with a trusted accountant and lawyer gains more than compliance; it gains advisers who understand its history and can spot risks and opportunities before the owner does.

Frequently asked questions