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Company Formation in Guyana

Updated on Wednesday 10th May 2023

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If you want to start the process of company formation in Guyana you must know that 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 modernized.

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 address to 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:

  1. minimum two shareholders of any nationality (but not more than 20);
  2. no demands on capital share amount. 

Registering a company in Guyana 

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. 

Then you must acquire a declaration of compliance from an attorney at law and get it signed by the said person. The declaration states that the company has complied with the rules of forming a company.

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.

You also need to apply for a tax identification number at the Guyana Revenue Authority.

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.

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.

What are the necessary documents for company registration in Guyana? 

According to the Deeds and Commercial Registries Authority (DCRA), upon the incorporation of a legal entity, investors have to present the following documents: 
  1. request for name search and name reservation;
  2. the articles of incorporation; 
  3. a document specifying the name and personal details of the person who is appointed as a director (Notice of Director) and the Consent to Act as Director;
  4. a copy of the investor’s identity documents;
  5. a document attesting the legal entity has a registered address. 
Some other important aspects to be taken into consideration when starting the process of company formation in Guyana are: 
  • a legal entity is incorporated in accordance with the regulations of the Companies Act Chapter 89:01;
  • a company can be incorporated by a person who has an age of minimum 18 years old;
  • a company certificate can be issued by the Deeds and Commercial Registries Authority (DCRA) in matter of 3 business days;
  • during the process of opening a company in Guyana, you will pay 3 basic fees – the prescribed fee of GY $60,000, the notices of GY $3,200 and the mandatory copy GY $350;
  • please mind that the institution will accept cash payments only for fees and other costs of up to GY $100,000 (for sums above this, cheque payments are necessary). 
Paying registration fees is a standard procedure that is applied in most countries. One can be required to pay registration fees for offshore company formation as well. 

Why choose Guyana as business destination? 

Guyana can provide attractive business prospects for local and foreign investors as, in the last few years, the country positioned itself as one of the best economies in its region. In fact, in 2021 and 2022, Guyana enjoyed the highest economic growth observed in Latin America and the Caribbean region. 
The country is also a member state of several trade agreements signed with certain partner countries (such as Costa Rica and the Dominican Republic). 
Besides this, it is worth knowing that Guyana is a part of the Caribbean Basin Trade Partnership Agreement (CBTPA) which provides certain advantages to Guyana resident companies when accessing the United States market. 
Its economy, mainly based on oil, diamonds, aluminum, gold extraction, has been increasing at a very rapid pace. This has also been observed during the Covid-19 pandemic. 
While most of the world’s economies declined, Guyana had a GDP growth in 2020 of 43.5%. If you want to open a company in Guyana in the trading sector, you must know that this jurisdiction has good export connections with countries such as: 
  1. Norway;
  2. Canada;
  3. Portugal. 
As mentioned above, when starting a business here, you are not required to subscribe a share capital, and this can be a major advantage, as in other countries large capital requirements can apply, especially in the case of businesses operating as joint stock companies. 
This capital exemption can also be observed in countries that allow offshore company formation as well.  
However, in most cases, foreign investors opt to select the limited liability company for company formation in Guyana, the most common way to start a business in any other country.  

What are the reporting obligations of a company in Guyana? 

Please mind that in the 1st year of business, you will have certain reporting obligations. The Guyana Revenue Authority, the institution handling all tax aspects of a legal entity, states that a newly founded business must report on its financial activity 4 times a year. 

The reporting quarters are: 1st of April, 1st of July, 1st of October and 31st of December. You can learn more about other accounting and reporting obligations of a company if you contact our consultants in company formation in Guyana, who can also help you set up a legal entity.