Starting a Business in


Below is a detailed summary of the bureaucratic and legal hurdles faced by entrepreneurs wishing to incorporate and register a new firm in Guyana. It examines the procedures, time and cost involved in launching a commercial or industrial firm with between 10 and 50 employees and start-up capital of 10 times the economy's per-capita gross national income.

This information was collected as part of the Doing Business project, which measures and compares regulations relevant to the life cycle of a small- to medium-sized domestic business in 190 economies. The most recent round of data collection was completed in June 2016.

Compare Guyana to 189 other economies.

  • No. Procedure Time to Complete Associated Costs

    Search for company name and reserve proposed name

    Agency: Companies Registry

    Searching and reserving the proposed company name can be done on the same day.

    1 day GYD 175 (name search) GYD 800 (reservation)

    Obtain declaration of compliance

    Agency: Attorney at Law

    The exception of the declaration of compliance must be signed by an attorney.
    The declaration states that, to best of the declarer’s knowledge and belief, no signatory to the company’s articles of incorporation is a person described in Section 4(2) of the Companies Act (which states that persons under 18, of unsound mind, or with undischarged bankruptcies cannot form or join in the formation of a company) and that all the requirements of the Companies Act pertaining to the matters precedent to the registration of the company and incidental thereto have been complied with. Section 4(3) states that if such a declaration is filed, it shall be conclusive of the facts stated in it.

    2 days GYD 15,000

    Register company with Registrar of Companies

    Agency: Registrar of Companies

    The Registrar of Companies announces the issuance of the certificate of incorporation in the Official Gazette, according to Section 479 of the Companies Act (although this is not a precondition to registration).
    To register with the Registrar, the company must provide the following documents:
    - Declaration of compliance.
    - Articles of incorporation.
    - Notice and consent of directors.
    - Notice and consent of secretary.
    - Notice of registered office.

    Since July 2008 fees and other charges to register company with Registrar of Companies are as follows:
    - Flat fee for certificate of incorporation: GYD 60,000.
    - Fees for filing and certifying copies of notices (listed above) and declaration of compliance: GYD 13,000.
    If the company chooses to file it with a practitioner, attorneys will charge approx. GYD$150,000 plus VAT for handling a company incorporation in addition to the registration fee.

    7 days GYD 60,000 (fixed registration fee) + GYD 13,000 (fees for filing and certifying copies of documents)

    File for tax identification number (TIN) with the Revenue Authority

    Agency: Guyana Revenue Authority

    Since January 2008 the TIN has replaced the PAYE number, corporate income tax number, VAT number and customs import number.

    1 day no charge
    * 5

    Register for VAT

    Agency: Guyana Revenue Authority

    Since January 1, 2007, the Value Added Tax (VAT) Act 2005 has been implemented in place of the Consumption Tax Act. Companies that have a taxable income of at least GYD 10 million a year are required to register under the VAT Act. A separate department of the Guyana Revenue Authority has been established to administer the Act. Applications should be made within 15 days of the start of operations, and a certificate should be issued within 10 days after the application.

    7 days on average (simultaneous with previous procedure) no charge
    * 6

    Register for the social security

    Agency: National Insurance Scheme

    Register with the social security office and obtain NIS employer number.

    7 days (simultaneous with previous procedure) no charge
    * 7

    Make a seal

    Agency: Commercial manufacturer of seals

    The fee to make a company seal depends on whether an embossed or rubber seal is selected. Most companies use a rubber stamp. Embossed seals are not made in Guyana and require additional delivery time.

    2 days on average (simultaneous with previous procedure) GYD 2,000

    * Takes place simultaneously with previous procedure.