Guyana

Ease of Doing Business in

Guyana

This page summarizes Doing Business 2013 data for the Co-operative Republic of Guyana. The first table lists the overall "Ease of Doing Business" rank (out of 185 economies) and the rankings by each topic. It also lists the economy's distance to frontier (DTF)** measure. The rest of the tables summarize the key indicators for each topic and benchmark against regional and high-income economy (OECD) averages.

Economy Overview

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Economy Summary
Starting a Business
Dealing with Construction Permits
Getting Electricity
Registering Property
Getting Credit
Protecting Investors
Paying Taxes
Trading Across Borders
Enforcing Contracts
Resolving Insolvency
Region Latin America & Caribbean
Income Category Lower middle income
Population 756,040
GNI Per Capita (US$) 3,202
Doing Business 2013 Rank Doing Business 2012 Rank Change in Rank
114 114 0

Doing Business 2013 DTF** (% points) Doing Business 2012 DTF** (% points) Improvement in DTF** (% points)
58.3 58.3 0.0
Topic Rankings DB 2013 Rank DB 2012 Rank Change in Rank
Starting a Business 89 80 up -9
Dealing with Construction Permits 29 25 up -4
Getting Electricity 148 142 up -6
Registering Property 114 106 up -8
Getting Credit 167 165 up -2
Protecting Investors 82 79 up -3
Paying Taxes 118 113 up -5
Trading Across Borders 84 81 up -3
Enforcing Contracts 75 74 up -1
Resolving Insolvency 138 141 up 3

Economy Profile

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Starting a Business

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The challenges of launching a business are shown below. Included are: the number of steps entrepreneurs can expect to go through to launch, the time it takes on average, and the cost and minimum capital required as a percentage of gross national income (GNI) per capita.

DB 2013 Rank 89 DB 2012 Rank 80 Change in Rank down-9
DB 2013 DTF** (% points) 81.9 DB 2012 DTF** (% points) 81.9 Improvement in DTF** (% points) 0.0
Indicator Guyana Latin America & Caribbean OECD

The total number of procedures required to register a firm. A procedure is defined as any interaction of the company founders with external parties (for example, government agencies, lawyers, auditors or notaries).

View methodology Procedures (number)
8 9 5

The total number of days required to register a firm. The measure captures the median duration that incorporation lawyers indicate is necessary to complete a procedure with minimum follow-up with government agencies and no extra payments.

View methodology Time (days)
20 53 12

Cost is recorded as a percentage of the economy’s income per capita. It includes all official fees and fees for legal or professional services if such services are required by law.

View methodology Cost (% of income per capita)
13.9 33.7 4.5

The amount that the entrepreneur needs to deposit in a bank or with a notary before registration and up to 3 months following incorporation and is recorded as a percentage of the economy’s income per capita.

View methodology Paid-in Min. Capital (% of income per capita)
0.0 3.7 13.3
No. Procedure Time to Complete Associated Costs
1 Search for company name and reserve proposed name 1 day GYD 175 (name search) GYD 800 (reservation)
2 Obtain declaration of compliance 2 days GYD 15000
3 Register company with Registrar of Companies 7 days GYD 60,000 (fixed registration fee) + GYD 13,000 (fees for filing and certifying copies of documents)
4 File for tax identification number (TIN) with the Revenue Authority 1 day no charge
5 Register for PAYE 1 day no charge
* 6 Register for VAT 5-7 days (simultaneous with previous procedure) no charge
* 7 Register employees for social security 7 days (simultaneous with previous procedure) no charge
* 8 Make a seal 1-2 days (simultaneous with previous procedure) GYD 2000
* Takes place simultaneously with another procedure.

** The distance to frontier (DTF) measure shows the distance of each economy to the "frontier," which represents the highest performance observed on each of the indicators across all economies included in Doing Business since each indicator was included in Doing Business. An economy’s distance to frontier is indicated on a scale from 0 to 100, where 0 represents the lowest performance and 100 the frontier. Read more...

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