How Can Guyana Company Incorporation Services Help You
Investors in Guyana can benefit from the diverse range of untapped business opportunities. In recent years, this country has experienced rapid economic growth. Bank loans are also readily available to help new businesses get started in Guyana. And to make it easier for you, we offer Guyana company incorporation services.
Registration Requirements and Steps in Guyana
In Guyana, the term “company” refers to a legal entity separate from its owner. The company, not the owner, is limited liability. This organisation is formed in accordance with Chapter 89:01 of the Guyana Companies Act.
The following are the procedures for registering a new company:
- First, a company name is chosen;
- A Guyana attorney must issue a Declaration of Compliance stating that the new company complies with the laws and rules governing the formation of a new company.
- Finally, the new company can be registered with the Registrar of Companies in Guyana. This entails completing an application that requests:
- The company’s name;
- The registered office address;
- A description of the classes and the maximum number of shares to be issued;
- Share registration;
- Number of Directors (minimum or maximum);
- If any restrictions on the type of business activities will be imposed;
- The names, addresses, occupations, and signatures of the incorporators; and
- The names and addresses of the directors and secretary.
The Registrar will issue a Certificate of Incorporation following approval.
What’s Next After Receiving the Certificate of Incorporation?
Once you get the certificate, we’ll help you with the following under our Guyana company incorporation services:
- Application to the Guyana Revenue Authority for a tax identification number.
- Finally, within ten days of registering with the Registrar, application for a Value Added Tax (VAT) number.
- We also help you register with the National Insurance Scheme as well to obtain the NIS employer number.
- Every business must have a company seal, which can be embossed (steel) or a rubber seal (rubber stamp).
Types of Company Formations in Guyana
Guyana has the following legal business entities:
- Sole trader: The owner is personally liable for all debts.
- Partnership: Any debts incurred are shared equally by the named partners.
- For limited liability protection, we recommend incorporating one of the following:
- The PLLC (Private Limited Liability Company): With this type of registration, the owner has limited liability. With 2 to 20 shareholders, the PLLC can be foreign-owned or locally owned. This type of company is also simple to establish and only requires one director.
- The PLC (Public Liability Company): The ownership is divided into shares, which are publicly traded on a stock exchange. In this structure, at least two directors are required.
Guyana’s company formation procedure is extremely simple. Should you need further assistance, feel free to reach out to us at 3E Accounting. Our team of specialists is ready to assist you with our Guyana company incorporation services.