Guinea company registration

DOING BUSINESS IN GUINEA

pay fee by instalmentsbusiness setup without travel

Since 2003, Healy Consultants Group PLC has assisted our Clients with business registration in Guinea. Our services include i) Guinea company incorporation ii) government license registration iii) business bank account opening iv) employee recruitment v) visa strategies and vi) office rental solutions.

Compare different Guinea entities LLC Manufacturing company Tourism company Mining company Representative office Energy company
Also known as Société à responsabilité limitée Entreprise de fabrication Entreprise de tourisme Société minière Bureau de représentation Société d'énergie
Best use of company? All products and services Manufacturing and export activities Discovery, health and hiking tourism Mining and exploration activities Marketing and research activities Energy production activities
How soon can you invoice Clients/sign sales contracts? 7 weeks 7 weeks 7 weeks 8 weeks Can not invoice 8 weeks
How soon can you hire staff? 7 weeks 7 weeks 8 weeks 8 weeks 8 weeks 8 weeks
How soon can you sign a lease agreement? 2 weeks 2 weeks 2 weeks 2 weeks 2 weeks 2 weeks
How long to supply corporate bank account numbers? 5 weeks 5 weeks 5 weeks 5 weeks 5 weeks 5 weeks
How long to supply company registration / tax numbers? 7 weeks 7 weeks 7 weeks 8 weeks 8 weeks 8 weeks
Corporate tax rate on annual net profits? 35% 0% for first 7 years, 35% thereafter 35% for 1st two yrs, 17.5% for 3rd and 4th year 30% 0% 35%
Limited liability entity? Yes Yes Yes Yes No Yes
Government grants/incentives available? Yes Yes Yes Yes No Yes
Government approval required for foreign owners? No Yes Yes Yes No Yes
Resident director/partner/manager/ legal representative required? No No No Yes No No
Minimum paid up share capital? None US$11 US$11 US$11 US$1 US$11
Can bid for Government contracts? Yes Yes Yes Yes No Yes
Corporate bank account location? EcoBank United Bank of Africa Afriland First Bank FBN Bank Banque de developpement de Guinée Banque Islamique de Guinée
Can secure trade finance? Yes Yes Yes Yes Yes Yes
VAT payable on sales to local customers? 18% 0% 18% 18% 0% 18%
Average total business set up engagement costs? US$18,325 Request a proposal Request a proposal Request a proposal US$17,175 Request a proposal
Average total engagement period? 3 months 3 months 3 months 4 months 4 months 4 months

Guinea business setup summary

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  • Advantages of Guinea company registration

    Registration facts in Guinea

    1. A Guinea limited liability company (SARL) can be incorporated with just 1 director and 1 shareholder of any nationality and can either be and individual or body corporate. The director and shareholder both do not have to be resident in Guinea. No minimum paid-up capital is also required and our Clients do not need to travel to Guinea to complete the engagement;
    2. The Guinean government has significantly reduced the timeline for company incorporation by creating a one-stop-shop, Agency for Promotion of Private Investment (APIP), for company registration that allows entrepreneurs to register their company with different governmental departments including tax and VAT registration, and social security registration at one station;
    3. Republic of Guinea is a natural resources and mineral-rich country with vast untapped deposits of iron ore. The country is the 5th largest producer of Bauxite aluminum ore in the world, and number 1 in Africa, with an estimated production of at least 17 million tonnes per year;
    4. The Republic of Guinea in the bid to attract FDIs and to boost investor confidence has recently gained membership to the Extractive Industries Transparency Initiative (EITI), an organization that seeks to embed transparency within oil, gas and mining companies in developing countries globally;
    5. Republic of Guinea has immense potential in the production of hydroelectric power in West Africa. Dubbed the “water tower” of West Africa, the country boasts a water system of at least 1,165 rivers across the country with a potential of guaranteed hydroelectric energy output of 19,300Gwz per year, enough to power the entire West African region;
    6. Guinea is the emerging agricultural hub of Africa. It has a total of 6.2 million ha of arable land along with abundant levels of sunshine and a 300km of coastline along the Atlantic sea. Its climate is well-suited for agriculture and related industries, as well as livestock production and has an abundant stock of fisheries. All in all, the agriculture sector contributes to 20% of Guinea’s GDP;
    7. Companies incorporated in Guinea are legally registered for a period of 99 years, business owners do not have the annual expense of company renewals until the 100th year.
  • Disadvantages of Guinea company registration

    1. Businesses in Guinea experience higher taxes compared to other neighboring countries in the region. Total tax paid by a business in Guinea represents on average 68% of its profits, against 46% for other Sub Saharan countries. Payments are also very cumbersome to submit, as local companies are required to file for VAT, corporate tax and other taxes an average 57 times per year;
    2. Guinean companies are subject to i) a corporate tax rate of 35% ii) a 10% withholding tax on dividends and interests iii) 10% withholding tax on royalties iv) 18% Value Added Tax (VAT) and v) capital gains tax of 35%;
    3. Since 2019, the tax authorities in Guinea require registered businesses to have a physical office space with visible company signage;
    4. Foreign investors looking to setup branches of their companies in Guinea should prepare to pay higher taxes than other Guinean companies. Branches of foreign companies are subject to an additional 10% withholding tax on after tax profits gained in Guinea;
    5. Although blessed with numerous natural resources and potential for development, Republic of Guinea remains mostly underdeveloped and with deplorable conditions due to i) wanton corruption both in the private and public sector, ii) poor infrastructure and iii) an ineffective rule of law;
    6. Guinea faces major socio-economic challenges due to i) its political instability, ii) re-emergence of Ebola and iii) rampant corruption.

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Contact us

For additional information on our company registration services in Guinea, please contact our in-house country expert, Ms. Chrissi Zamora, directly:
client relationship officer - Chrissi
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