Grenada cryptocurrency tax guide

What this guide covers

This guide summarizes Grenada's crypto regulatory and tax position for 2025. ird.gov.gd and garfin.org weren't directly fetched. This is educational information, not individualized tax advice.

Tax treatment of cryptocurrency

Grenada has no capital gains tax at all, so a personal crypto investment gain faces no tax, though crypto earned through mining or business activity falls under ordinary income tax. Cryptocurrencies are legal in Grenada but aren't legal tender. A licensing regime for virtual asset businesses is administered by GARFIN (the Grenada Authority for the Regulation of Financial Institutions) under the Virtual Asset Business Act, 2021 (Act No. 7 of 2021) and the Virtual Asset Business Regulations 2024 (S.R.O. 9 of 2024). GARFIN began accepting license applications in August 2023; as of May 2024 reporting, no company had yet been licensed. Grenada has no capital gains tax, inheritance tax, or net worth tax. The Inland Revenue Division has published no crypto-specific guidance, so mining, staking, and business activity involving crypto are reported as falling under Grenada's general income tax rules — personal income tax at 10% on the first XCD 24,000 and 28% above that. This guide explicitly discounts a conflicting claim from an exchange blog (MEXC) stating Grenada treats crypto as property subject to capital gains tax and VAT, since that claim directly conflicts with the more detailed and consistent description of Grenada's general tax structure (no capital gains tax at all) found elsewhere.

Common taxable events

• Crypto mining, staking, or business activity — falls under Grenada's general personal income tax rules (10%/28% brackets) by default, in the absence of specific IRD guidance.

Potentially non-taxable events

• A personal investment disposal gain on crypto — not subject to capital gains tax, since Grenada has no capital gains tax at all.
• Simply buying and holding crypto isn't a taxable event.

Tax rates and thresholds

No capital gains, inheritance, or net worth tax applies. Personal income tax, which would apply to crypto income characterized as ordinary income (mining, staking, business activity) by default, is 10% on the first XCD 24,000 and 28% above that.

Cost basis and calculation

Not applicable to the general capital-gains-tax-free position. For income characterized as ordinary (mining, staking, business), this guide doesn't independently confirm a specific cost-basis identification method.

Reporting and compliance

• Virtual asset businesses require licensing from GARFIN — a business/platform regulatory matter.
• The IRD has published no crypto-specific guidance, so ordinary income tax filing obligations would apply by default to crypto income characterized as such.

Residency and cross-border issues

Not resolved in this research pass.

Example

This example is hypothetical, for illustration only. Marcus buys crypto as a personal investment and sells it later for a profit, with no business or mining activity. That gain is reported as not subject to capital gains tax, since Grenada has none. Had Marcus instead earned crypto through mining as a business activity, that income would be reported as subject to Grenada's general personal income tax brackets (10%/28%).

Official resources

• Inland Revenue Division (IRD): https://ird.gov.gd/
• GARFIN: https://garfin.org/

Limitations and review information

Tax year covered: 2025. Last verified: October 28, 2026 (citation-integrity pass; the Blockspot source was re-read directly and a more specific GARFIN legal citation added). Known gap: ird.gov.gd and garfin.org weren't directly fetched; a conflicting claim of a dedicated crypto capital gains/VAT regime was found but explicitly discounted as less reliable. This is educational information only, not individualized tax advice — confirm current specifics directly with the IRD, GARFIN, or a qualified Grenadian tax professional.