Guinea Bissau company registration

DOING BUSINESS IN GUINEA BISSAU IN 2023

Since 2003, Healy Consultants Group PLC assists our Clients with Guinea-Bissau business set up services, including i) Guinea-Bissau company registration ii) securing Guinea Bissau business licenses iii) multi-currency corporate bank account opening iv) employee recruitment v) visa strategies and vi) office rental solutions.

Compare different Guinea-Bissau entities	LLC	PLC	Branch office	Rep office
Also known as	SARL	SA	Filial	Escritório de representação
How long to set the company up?	6 weeks	6 weeks	2 months	2 months
How long to open company bank account?	8 weeks	8 weeks	2 months	2 months
Legal liability?	Limited	Limited	Unlimited	Unlimited
Wholly foreign owned?	Yes	Yes	Yes	Yes
Minimum share capital?	€1,525	€15,250	N/A	N/A
File annual tax return?	Yes	Yes	Yes	No
Tax registration certificate required?	Yes	Yes	Yes	No
Recommended corporate bank account?	EcoBank	Banco Da Uniao	Banco Da Africa Ocidental	Orabank
Does our Client need to travel?	No	No	No	No
Resident director required?	No	No	No	No
Resident shareholder required?	No	No	No	No
Minimum directors allowed?	1	3	1	1
Minimum shareholders?	1	1	1	1
Tax identification code (TIN) needed?	Yes	Yes	Yes	No
Corporate shareholders allowed?	Yes	Yes	Yes	Yes
Corporate director(s) allowed?	Yes	Yes	Yes	Yes
Guinea-Bissau corporate tax rate?	25%	25%	25%	0%
Annual financial statements required?	Yes	Yes	Yes	No
Statutory audit required?	No (Except certain cases)	Yes	No	No
Regulated by?	Ministry of Justice	Ministry of Justice	Ministry of Justice	Ministry of Justice
Allowed to issue sales invoices?	Yes	Yes	Yes	No
Allowed to sign contracts?	Yes	Yes	Yes	No
Allowed to import and export goods?	Yes	Yes	Yes	No
Can rent an office space in Guinea-Bissau?	Yes	Yes	Yes	Yes
Can buy Guinea-Bissau property?	Yes	Yes	Yes	No
Can own equity in other Guinea-Bissau companies?	Yes	Yes	Yes	No
Total Guinea-Bissau business setup costs in Yr. 1	€15,525	Contact us	€17,650	Contact us
Subsequent annual costs (incl. accounting and tax fee)	€4,950	Contact us	€17,650	Contact us
Sample engagement invoice	View invoice PDF	Contact us	Contact us	Contact us

Guinea-Bissau company registration summary

Click the link headings below to read detailed, relevant and up to date information.

Advantages of Guinea-Bissau company registration
1. Multi-national Clients’ prefer to do business in Guinea-Bissau using a limited liability company (LLC) because the benefits include:
  - 100% foreign ownership allowed.
  - Only one shareholder is required, who can be an individual or company.
  - The directors and shareholders of a Guinea Bissau company do not need to be resident in the country.
  - The required share capital for a new company is approximately €1,525 and is to be deposited during incorporation.
  - Business set up can be completed without our Client having to travel to Guinea-Bissau.
2. The National Investments Agency actively promotes investment in i) tourism (which has seen substantial growth in recent years) ii) import-export activities iii) telecommunications, especially wireless infrastructure iv) construction v) manufacturing (Guinea-Bissau is rich in natural resources and has a low-cost labour force) vi) livestock vii) fisheries and viii) agribusiness and agri-processing (a strategic priority for the government is to modernise the country’s agricultural sectors).
3. Guinea-Bissau is rich in industrial minerals and metal ores but output is limited by poor infrastructure and under development. Foreign investors who supply technology and know-how in this field are in high demand in Guinea-Bissau. To attract investment in the above sectors, the Guinea-Bissau government currently promises:
  - Foreign investments receive the equal treatment and protection as local investors.
  - Private investments cannot be seized or nationalised.
  - Profits can be freely repatriated from Guinea-Bissau.
  - Tax breaks of up to 50% for up to six years on eligible projects.
4. Guinea-Bissau is a signatory to the Organisation for the Harmonisation of African Business Law (OHADA) network of 17 countries. In practical terms, this means Guinea-Bissau companies enjoy smoother cross-border trade between member states.
5. Guinea-Bissau is situated on the Atlantic coast of West Africa, and with a deep water port in the capital city Bissau, it is well connected to global markets and exports.

Disadvantages of Guinea-Bissau company registration
1. Setting up a business in Guinea-Bissau is challenging. Incorporating a company can take up to two months and involves dealing with multiple government departments. The World Bank notes that getting an electricity connection can take nine months. Our Clients should realistically budget one year for their Guinea Bissau business to be fully up and running.
2. Once the company is set up, Guinea-Bissau is a difficult place in which to do business. For example:
  - Multinational Clients are likely to have difficulty i) registering a property ii) getting credit from local banks and iii) enforcing contracts with local businesses.
  - Despite assurances from the government that foreign and local investors are treated equally, in reality local connections are valuable and settling disputes in local courts is time consuming and frustrating for foreign investors.
  - Guinea-Bissau is considered one of the world’s most corrupt countries. Multinational Clients should expect i) low transparency when bidding for contracts ii) favouritism and iii) cronyism on a daily basis. The country has no anti-corruption agency.
  - Government departments, banks and the business community communicate almost exclusively in Portuguese. Non-Portuguese speakers will find it difficult to get business done in the country, for example, when negotiating contracts and networking. Most foreign business people enter into local joint ventures to enable them to navigate the language and business culture barriers.
  - Almost 50% of the population of Guinea Bissau has received less than a basic education. As a result, skilled labour is in very short supply. On the plus side, labour-intensive industries (such as agriculture and manufacturing) benefit from low wage costs.
  - Only one fifth of the country’s population has an internet connection in 2022. This is a serious constraint to the growth of financial services and e-commerce in Guinea-Bissau.
  - The World Bank describes Guinea-Bissau as one of the world’s most politically unstable countries. In 2009 the then-president was assassinated. Clients setting up a business in Guinea-Bissau must be aware of the inherent risks.
3. For multi-national Clients’, the Guinea-Bissau market is small and presents limited foreign investment opportunities because:
  - has one of Africa’s smallest, most undeveloped economies. Its GDP is just 0.01% of the global total and with a population of just two million and one of the lowest per capita incomes in the world, it has a very limited domestic consumer market and low demand for retail and consumer goods.
  - The country lacks an investment culture, receiving a meagre US$71.7 million in foreign direct investments in 2019. Any entrepreneurial activity is typically small-scale, and local knowledge is essential to close deals. Some foreign investors enter into local joint ventures to gain a foothold in the market.

Tell us what you need - we’ll send you a customised proposal in 5 hours!

To help us engineer the optimum Guinea-Bissau corporate structure, please complete the 3-minute questionnaire below; then press the submit button below.

This data remains confidential and is not sold to third-parties.

Within 5 hours, one of our senior staff will ring or email you:

Company purpose?
Will the LLC be a trading company or a holding company?
Will the entity be a subsidiary of a foreign company?
The LLC will be tax resident? Having local customers and local staff and local suppliers?
The entity will receive investment income or professional services fees or sales from trading with multi-national customers?
Is double taxation treaty access important?
Do you need our help to legally minimize your international tax obligations?
Do you need our help to increase e-commerce sales (click link)?
Company structure?
Will the shareholders be individuals or corporate?

In what country do you require a corporate bank account? Refer to this web page (click link) for ideas

Do you need multi-currency corporate visa debit cards?

Do you need a resident director?

Nationality of shareholders and directors?
Expected annual sales and net profits?
Does the entity need a special regulatory license or import or export license?
Additional comments?
Tell us about your existing business?
Name of your existing company?
Your business web site address?
What products and services does your company supply?
How many years are you operating this business?
Is your Firm regulated by a Government agency?
In what country are the majority of your customers?

In what country are the majority of your suppliers?
Tell us about you?
Your name?
Your email address?
What country are you based in?

Specifically, what deliverables (click link) do you need?
What is your US$ budget for the services you need?
What does quality customer service mean to you?
How do we contact you?
For now, do you prefer Healy Consultants PLC staff to phone you, or just email reply you with some corporate solutions?
If a phone call, on what number can our senior Consultant call you?
If an email, what email address can our Consultant email you at?
What alternative email address can our Consultant email you at?
What is your preferred date and time for a phone call?
In what language do you prefer we communicate with you?
What matters would you like to discuss during the call; the agenda?

Thank you for taking the time to complete this important questionnaire. It will help us to timely complete your engagement with minimum inconvenience to you.

Read the Privacy Policy (click link)
I acknowledge that I have read and understood the Privacy Policy, and consent to the collection, use and disclosure of my personal data by Healy Consultants Group PLC and/or Healy Consultants Pte. Ltd. for the purposes set out in the Notice. I want to receive helpful business information such as insights, success tips and how-to guides
Note: By clicking the above, you acknowledge that your information will be processed by MailChimp, our marketing platform. You can unsubscribe at any time through the footer link in our emails.

Export

In the unfortunate case that the questionnaire cannot be submitted, please click on the "Export" button to download the PDF export with your form entries. You can submit this PDF document together with your request to us by email to email@healyconsultants.com. By exporting the form and ensuring the required fields are completed, you agree to the Privacy Policy and consent to the collection of your personal data above.