How to Start a Business in Guyana: Complete 2026 Guide

Guyana is in the middle of an economic transformation unlike anything the Caribbean or South America has ever seen. Since ExxonMobil's first oil production in December 2019 from the Liza Phase 1 development in the Stabroek Block, the country's GDP has more than tripled. The International Monetary Fund has ranked Guyana among the fastest-growing economies on the planet for several consecutive years, driven by oil production that has surpassed 900,000 barrels per day. With approximately 11.6 billion barrels of recoverable oil equivalent discovered across 51 finds in the Stabroek Block alone, the boom is just getting started.

But it is not just oil. The ripple effects are transforming every sector of the economy — construction, hospitality, agriculture, transportation, technology, and professional services. Georgetown is experiencing a building boom, new hotels are opening at a pace the country has never seen, and the government is investing billions in infrastructure including the new Demerara River Bridge, the gas-to-energy project, and highway upgrades connecting the coast to the interior.

For the Guyanese diaspora — over one million people living in the United States, Canada, the United Kingdom, and elsewhere — the question is no longer "Is Guyana worth investing in?" but rather "How do I get started?"

This guide walks you through every step of starting a business in Guyana, from choosing your business structure and registering with the Deeds and Commercial Registries Authority (DCRA) to getting your tax identification number, understanding your obligations, and identifying the sectors with the most opportunity.

Choosing Your Business Structure

Before you register anything, you need to decide what type of business entity best suits your goals. Guyana recognizes three main structures, each governed by different laws and carrying different levels of liability, tax obligations, and administrative requirements.

Step-by-Step Registration Process

Business registration in Guyana is handled by the Deeds and Commercial Registries Authority (DCRA). The Commercial Registry — where business name registration and company incorporation take place — is located at Lot 1 High and Commerce Streets, Georgetown. (The Deeds Registry, which handles property transactions, is a separate office on Charlotte Street near the Supreme Court.) The process is straightforward but requires in-person visits or a legal representative.

Step 1: Reserve Your Business Name

Submit a name search request to the DCRA to confirm your proposed business name is available and not already registered. This prevents conflicts with existing businesses. If you are incorporating an LLC, the name must end with "Inc." or "Incorporated."

Step 2: Prepare and File Registration Documents

For a sole trader or partnership: Complete the Business Name Registration Form with details including your business name, nature of business, principal place of business, and the name, nationality, and residence of the proprietor or each partner. Submit in person at the DCRA with a valid form of identification (passport or national ID).

For an LLC: File Articles of Incorporation specifying the company name, registered office address in Guyana, share capital structure (rights, privileges, restrictions, conditions), and the size and composition of the board of directors. This typically requires an attorney.

Step 3: Pay the Registration Fee

• Sole trader / Partnership: GYD $5,000
• Limited Liability Company: GYD $63,900

Processing typically takes up to three business days for business name registration. LLC incorporation may take one to two weeks depending on the complexity of your articles and any name conflicts.

Step 4: Obtain Your TIN (Taxpayer Identification Number)

After registering your business, you must register with the Guyana Revenue Authority (GRA) to obtain a Taxpayer Identification Number (TIN). This is mandatory for all businesses and is required for filing taxes, opening business bank accounts, and bidding on government contracts. You can apply in person at a GRA office or online through the GRA eServices portal at gra.gov.gy.

Step 5: Register with the National Insurance Scheme (NIS)

If you plan to hire employees, you must register with the National Insurance Scheme. NIS provides social security coverage for workers including sickness benefits, maternity benefits, and pensions. Both the employer and employee contribute — the employer's contribution is 8.4% of the employee's insurable earnings, and the employee contributes 5.6%. Registration is done at any NIS office.

Step 6: Open a Business Bank Account

With your business registration certificate, TIN, and identification documents, you can open a business bank account. Major banks in Guyana include Republic Bank, Demerara Bank, Citizens Bank, and Guyana Bank for Trade and Industry (GBTI). Having a local bank account is essential for receiving payments, paying suppliers, and managing cash flow.

Understanding Business Taxes

Guyana's tax system is administered by the Guyana Revenue Authority. Key taxes every business owner needs to understand include:

• Corporate Income Tax: 40% for commercial companies; 25% for non-commercial companies (companies earning primarily from investments, rents, or royalties). A minimum tax of 2% of turnover applies to commercial companies. As of the 2026 budget, corporate tax on agriculture and agro-processing businesses has been completely removed. Childcare and elderly care businesses are also fully exempt from corporate income tax (Budget 2026). Other sectors may qualify for reduced rates or tax holidays.
• Personal Income Tax (Sole Traders): Sole traders pay personal income tax on business profits. The first GYD $1,680,000 annually (GYD $140,000/month) is tax-free as of the 2026 budget. Income above that is taxed at 25% up to GYD $3,360,000 and 35% thereafter.
• Value Added Tax (VAT): 14% on most goods and services. Registration is mandatory if your annual turnover exceeds GYD $15 million. Basic food items, medical supplies, and educational materials are zero-rated or exempt.
• Property Tax: Levied on business premises based on assessed property value.
• Withholding Tax: Applies to payments to non-residents — 20% on dividends, interest, and royalties; 10% on payments to non-resident contractors. Reduced rates may apply under double taxation treaties with CARICOM, the UK, and Canada.
• NIS Contributions: 8.4% employer share + 5.6% employee share on insurable earnings.

Top Sectors for New Businesses

Guyana's oil-driven economic boom has created opportunities across virtually every sector. Here are the areas with the most potential for new entrepreneurs, especially those in the diaspora looking to invest back home.

Government Incentives & Support

The Government of Guyana actively encourages investment through a range of incentives, particularly for businesses in priority sectors and outlying regions.

• Tax Holidays: Businesses in agriculture, manufacturing, tourism, and information technology may qualify for tax holidays of up to 10 years on corporate income tax.
• Duty-Free Imports: Exemptions on import duties for machinery, equipment, and raw materials used in manufacturing, agriculture, and tourism development.
• Accelerated Depreciation: Higher depreciation rates for capital investments, reducing taxable income in early years.
• Full Repatriation: Foreign investors can repatriate 100% of capital, profits, and dividends without restriction.
• Special Investment Zones: The government is establishing special economic zones with enhanced tax incentives to attract manufacturing and industrial investment.
• Small Business Bureau: Under the Ministry of Tourism, Industry and Commerce, the Small Business Bureau provides grants, training, mentorship, and access to financing for qualifying small businesses.

The Local Content Act

Passed in 2021, the Local Content Act is one of the most important pieces of legislation for Guyanese entrepreneurs. The law requires companies operating in the petroleum sector to prioritize Guyanese-owned businesses for goods and services. It sets minimum local content requirements across dozens of categories — from catering and transportation to engineering and waste management — with target percentages that increase each year.

This means oil companies and their subcontractors are actively looking for qualified Guyanese businesses to fulfill these requirements. If you can provide a service that the petroleum sector needs, the Local Content Act gives you a competitive advantage over foreign suppliers. The Local Content Secretariat maintains a register of Guyanese-owned businesses and monitors compliance.

Challenges to Be Aware Of

Starting a business in Guyana is full of opportunity, but it is important to go in with realistic expectations. Common challenges include:

• Bureaucracy: Government processes can be slow. Expect paperwork to take longer than promised. Build buffer time into every timeline.
• Infrastructure: Electricity costs remain high (though the gas-to-energy project aims to reduce them significantly). Internet connectivity has improved but is still inconsistent in many areas outside Georgetown.
• Skilled Labor: The oil boom has created intense competition for skilled workers. Wages have risen sharply, and retaining good employees requires competitive compensation and a positive work environment.
• Land Acquisition: The land title system can be complex, with two parallel registration systems (Transport and Certificate of Title). Always use a reputable attorney for property transactions. See our Buying Property in Guyana guide.
• Corruption: While the government has made strides in transparency, corruption remains a concern. Keep meticulous records, insist on receipts for all payments, and never pay unofficial "facilitation fees."
• Banking: Opening a business bank account can be time-consuming due to anti-money laundering (AML) compliance requirements. Come prepared with all documentation.

Tips for Diaspora Entrepreneurs

If you are a Guyanese living abroad and want to start a business back home, here is practical advice from those who have done it.

Frequently Asked Questions

Last updated: April 2026. Fact-checked and updated with 2026 budget changes. For more on investing and living in Guyana, see our Buying Property in Guyana and Diaspora Return Guide.