Company Formation Guyana
This country's economy is mainly based on forestry, agriculture, mining in bauxite, diamonds and gold; also, over the past few years the financial and fiscal systems have been considerably modernised.
Thus, many foreign investors choose to open companies in Guyana. For further guidance in the process of establishing a business in this country, feel free to contact our company formation specialists.
Types of companies in Guyana
Foreign entrepreneurs should first decide on the best type of legal structure available in Guyana for their business needs. Here are some of them: the sole proprietorship, the partnership, the limited liability company, the public liability company, or they can choose to create a dependent branch or representative office of an existing overseas parent company. Although each of them has its advantages, the most popular amongst foreign investors is the limited liability company.
There are a few demands that need to be met when opening a limited liability company in Guyana:
- minimum two shareholders of any nationality (but no more than 20);
- no demands on capital share amount.
Registering a company in Guyana
1) The first step is to choose a name for your company and then reserve it. Make sure that the name has not already been used. This procedure can be completed in less than a day.
2) Then you must acquire a declaration of compliance from Attorney at Law agency and get it signed by an attorney. The declaration states that the company has complied with the rules of forming a company.
3) The third step in the company registration process in Guyana is to register the company with the Registrar of Companies. To find out what documents you need for this procedure and more information, our company registration agents can help you.
4) You also need to apply for a tax identification number at the Guyana Revenue Authority.
5) Then you have to register for VAT (Value Added Tax) and obtain a certificate within 10 days of your application. You also need to obtain the NIS employer number by registering with the National Insurance Scheme.
6) Last, you must make a seal for your company at the Commercial manufacturer of seals.
Whether you need more information about the process of company formation in Guyana or you wish to establish a different type of business entity on its territory or perhaps in another country, do not hesitate to ask our specialists in company incorporation.