Starting a Business in Guinea

This table summarizes the procedures and costs associated with setting up a business in Guinea.

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Legal Form: Société à Responsabilité Limitée (SARL) - Limited Liability Company
City: Conakry

	Procedure	Time to complete:	Cost to complete:
1	Deposit the legally required initial capital in a bank and obtain deposit evidence	2 days	no charge
2	Obtain police clearance record for the first directors	2 days	GNF 6000 (per copy)
3	Check the uniqueness of the company name at the Clerk’s Office in charge of company registration	5 days	no charge
4	Obtain photocopies of identity papers and photos of founders and managers	1 day	GNF 200 per page of ID paper, GNF3,000 for two photos
5	Pay the registration tax at the Tax Bureau (Direction Nationale des Impôts)	1 day	.5% of initial capital
6	Deposit the company deeds and Articles of Association with the notary	2 days	Notary fees vary between GNF 1.3 million and GNF 3.5 million
7	Pay stamp duty (Droit de Timbre) at the DNI	1 day	GNF 100,000 + 15,000
8	Registration with the Commercial Registry (RCCM) at the Clerk’s Office of the local court	1 week	GNF 150,000
9	Notice to be published in the newspaper or the Official Gazette	20 days	GNF 300,000
*10	Apply for tax identification number and pay the patente with the Tax Bureau (Direction Nationale des Impôts)	7 days, simultaneous with procedure 9	GNF 27,000
*11	Notification to Employment Bureau (Office National de l’Emploi et de la Main-d’Oeuvre)	7 days, simultaneous with procedure 9	no charge
*12	Registration for Social Security with the Caisse Nationale de la Sécurité Sociale	7 days, simultaneous with procedure 9	no charge
*13	Make a company seal	1 day, simultaneous with procedure 9	GNF 100,000-200,000

* Takes place simultaneously with another procedure.

Procedure 1.: Deposit the legally required initial capital in a bank and obtain deposit evidence
Time to complete:: 2 days
Cost to complete:: no charge
Name of Agency:
Comment:: The lawyer or notary public needs to file a written request for depositing the capital into a blocked bank account.

Procedure 2.: Obtain police clearance record for the first directors
Time to complete:: 2 days
Cost to complete:: GNF 6000 (per copy)
Name of Agency:
Comment:: Guinean citizens can obtain the police clearance record from the clerk's office of the court of their birthplace.

Procedure 3.: Check the uniqueness of the company name at the Clerk’s Office in charge of company registration
Time to complete:: 5 days
Cost to complete:: no charge
Name of Agency:
Comment:: The founder can check the name at no cost.

Procedure 4.: Obtain photocopies of identity papers and photos of founders and managers
Time to complete:: 1 day
Cost to complete:: GNF 200 per page of ID paper, GNF3,000 for two photos
Name of Agency:
Comment:

Procedure 5.: Pay the registration tax at the Tax Bureau (Direction Nationale des Impôts)
Time to complete:: 1 day
Cost to complete:: .5% of initial capital
Name of Agency:
Comment:: The registration tax is calculated on the company’s initial capital, as follows:
- GNF 0 to GNF 1,000,000: 1% of capital.
- GNF 1,000,001 to GNF 500,000,000: 0.5% of capital.
- Over GNF 500,000,000: 0.25% of capital.

Procedure 6.: Deposit the company deeds and Articles of Association with the notary
Time to complete:: 2 days
Cost to complete:: Notary fees vary between GNF 1.3 million and GNF 3.5 million
Name of Agency:
Comment:: In addition to the company deed and the articles of association, the following documents must be submitted to the notary public:
- Shareholder identity papers (photocopy).
- Photographs of managers (two).
- Payment of registration tax.

The notary provides the entrepreneur with the following documents:
- Certificate of conformity (attestation de conformité).
- Bank certificate ( attestion bancaire).
- Copy of the statuts.

Procedure 7.: Pay stamp duty (Droit de Timbre) at the DNI
Time to complete:: 1 day
Cost to complete:: GNF 100,000 + 15,000
Name of Agency:
Comment:: The stamp duty tax (droit de timbre) is paid at the Tax Bureau (Direction Nationale des Impôts, DNI), at the rate of one stamp a page at GNF 1,000 each (10 copies of 10 pages each are required—the original and copies for the lawyer, bank, Commercial Registry, Tax Bureau, and each partner). In addition, the entrepreneur must pay GNF 15,000 for a “proces verbal” for the first general assembly and the board.

Procedure 8.: Registration with the Commercial Registry (RCCM) at the Clerk’s Office of the local court
Time to complete:: 1 week
Cost to complete:: GNF 150,000
Name of Agency:
Comment:

Procedure 9.: Notice to be published in the newspaper or the Official Gazette
Time to complete:: 20 days
Cost to complete:: GNF 300,000
Name of Agency:
Comment:: The notice must be published within 15 days of registration. The Official Gazette (Journal Officiel) is printed twice a month. The entrepreneur can also publish the notice in the “Hebdo.” The publication cost varies between GNF 300, 000 and GNF 600,000, depending on the newspaper.

Procedure 10.: Apply for tax identification number and pay the patente with the Tax Bureau (Direction Nationale des Impôts)
Time to complete:: 7 days, simultaneous with procedure 9
Cost to complete:: GNF 27,000
Name of Agency:
Comment:

Procedure 11.: Notification to Employment Bureau (Office National de l’Emploi et de la Main-d’Oeuvre)
Time to complete:: 7 days, simultaneous with procedure 9
Cost to complete:: no charge
Name of Agency:
Comment:

Procedure 12.: Registration for Social Security with the Caisse Nationale de la Sécurité Sociale
Time to complete:: 7 days, simultaneous with procedure 9
Cost to complete:: no charge
Name of Agency:
Comment: