{"id":11951,"date":"2023-04-28T17:39:47","date_gmt":"2023-04-28T14:39:47","guid":{"rendered":"https:\/\/prifinance.com\/?p=11951"},"modified":"2023-04-28T17:44:03","modified_gmt":"2023-04-28T14:44:03","slug":"guyana","status":"publish","type":"post","link":"https:\/\/prifinance.com\/en\/south-american-companies\/guyana\/","title":{"rendered":"Company registration in Guyana"},"content":{"rendered":"
\n

The Cooperative Republic of Guyana is located on the northeastern Atlantic coast of South America and borders Venezuela, Suriname, and Brazil. It is the only English-speaking country on the continent. The country’s leading trading partner is the U.S., so setting up a business in Georgetown or any other city in Guyana can help your company enter the American market. In addition, the state is a member of the Caribbean Community CARICOM.<\/p>\n<\/div>\n

\n

Advantages of registering a company<\/h2>\n
    \n
  • state support for foreign entrepreneurs;<\/li>\n
  • the abundance of natural resources;<\/li>\n
  • easy access to Latin America and the Caribbean;<\/li>\n
  • low cost of doing business.<\/li>\n<\/ul>\n<\/div>\n
    \n

    Main forms of legal presence and doing business<\/h2>\n
      \n
    • individual entrepreneurship (SP);<\/strong><\/em><\/li>\n
    • partnership;<\/strong><\/em><\/li>\n
    • private limited liability company (PLLC);<\/strong><\/em><\/li>\n
    • public limited company (PLC).<\/strong><\/em><\/li>\n<\/ul>\n

      A PLLC is the most popular legal entity for foreigners who open a business in Guyana. Non-residents can wholly own such companies. There is no minimum amount of share capital required by law. However, a PLLC involves a minimum of 2 shareholders and one director.<\/p>\n<\/div>\n

      \n

      Registration procedure<\/h2>\n
        \n
      • reserve a unique company name;<\/li>\n
      • obtain a Declaration of Compliance from a local lawyer;<\/li>\n
      • register the company in Guyana with the Registrar of Companies;<\/li>\n
      • apply for a Taxpayer Identification Number from the Internal Revenue Service;<\/li>\n
      • register with the appropriate division of the Guyana Revenue Authority for the payment of VAT;<\/li>\n
      • obtain an Employer Identification Number (NIS) from the National Insurance Scheme;<\/li>\n
      • make a seal;<\/li>\n
      • open a bank account;<\/li>\n
      • obtain licenses and permits.<\/li>\n<\/ul>\n<\/div>\n
        \n

        Legislation and regulatory environment<\/h2>\n

        The Companies Act of 1991 governs the creation, eligibility, and dissolution of all companies in Guyana. The Tax Act requires the proper maintenance of accounting records. In addition, companies must keep registers of directors and officers, all minutes of meetings, and resolutions passed by management.<\/p>\n<\/div>\n

        \n

        Tax system<\/h2>\n
          \n
        • corporate tax – 25%;<\/em><\/li>\n
        • PIT – 40%;<\/em><\/li>\n
        • VAT -14%;<\/em><\/li>\n
        • dividend tax – 0% (for residents), 20% (for non-residents);<\/em><\/li>\n
        • tax on capital gains – 20%.<\/em><\/li>\n<\/ul>\n

          Resident companies pay taxes on worldwide income. Non-resident companies doing business in Guyana are taxed on locally sourced income.<\/p>\n<\/div>\n

          \n

          Open a business in Guyana: how the lawyers of Prifinance can assist<\/h2>\n

          The high rate of economic growth and the encouragement of foreign investment by the state attracts entrepreneurs. Prifinance lawyers will support you to open a company in Guyana and start your business quickly. Our specialists will take care of bureaucratic and administrative issues. Prifinance can also be trusted with bookkeeping and annual maintenance of the company.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

          The Cooperative Republic of Guyana is located on the northeastern Atlantic coast of South America and borders Venezuela, Suriname, and Brazil. It is the only English-speaking country on the continent. The country’s leading trading partner is the U.S., so setting up a business in Georgetown or any other city in Guyana can help your company […]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[274],"tags":[],"class_list":["post-11951","post","type-post","status-publish","format-standard","hentry","category-south-american-companies"],"yoast_head":"\nRegistration of a company in Guyana | Prifinance Company<\/title>\n<meta name=\"description\" content=\"We offer company formation and bank account opening services in Guyana. New registration and ready-made options. 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