A limited liability company (LLC) is one of the most common entity types used by investors when they register a business in Guyana. In most cases, the process will be the same, regardless of the type of entity you register.
By undertaking a search through Guyana’s companies registry, you will be able to ascertain whether another business is operating in the country under a similar name to the one you intend to use. In the event of a clash, you will need to come up with a new name.
To form an LLC, you will need to receive a declaration of compliance from a locally-registered lawyer. This document will declare that all signatories to the new companies articles of incorporation are eligible to be signatories, and as such your lawyer in Guyana will request information and documentation in order to be able to sign it, meaning the process will usually take a couple of days to complete.
Being eligible requires a person to be a legal adult, of sound mind, and not prohibited from being a signatory by outstanding legal matters.
With a name chosen and the compliance declaration signed, the next step to register a business in Guyana is to register the entity with the Guyana Registry of Companies, which will publicize issuing your company’s certificate of incorporation in the Official Gazette of Guyana.
This will include information such as the name of the company, its registered address, information on directors and shares, and restrictions to the business activity. This process will generally take around a week to complete.
With the business registered, you will need to apply to the Guyana Revenue Services or a tax identification number (TIN), which will be used to identify your company for all tax purposes and invoicing matters. To complete this process, you will need to submit a completed TIN application along with the certificate of incorporation, as well as documentation proving the identities of directors. This process can be completed in a single day as long as all documentation is in order.
Within 15 days of business operations beginning, you must register for value-added tax (VAT) with the relevant department of the Guyana Revenue Authority. As long as the application is in order, a certificate will be issued by the department within 10 business days.
Note that in 2017, Guyana cut VAT to 14 percent and raised the annual sales threshold at which VAT registration is mandatory to 15 million Guyanese dollars (approximately $71,800 as of October 2021).
The next step to register a business in Guyana is to register for social security, which will usually take around a week to complete and can be done at the same time as registering for VAT. The Guyanese National Insurance Scheme covers anyone between the ages of 16 and 60 who is working in insurable employment. Anyone outside of that age range may be covered on a voluntary benefit, but only for industrial benefits, which self-employed people are not eligible for.
For employees within the age range, social security contributions total 14% of their salaries, of which employers must cover 8.4% and deduct the remaining 5.6% from pay packets. For self-employed people, the total is 12.5%, while voluntary contributors pay 9.3%.
Under local legislation, to complete the process to register a business in Guyana, the company must create an embossed or rubber seal — the latte of which is most popular — with steel embossed stamps usually taking a week to arrive, while rubber stamps can come sooner. While this is the last step in the process, in practice it can be undertaken as soon as the certificate of incorporation is published.
Registration and Incorporations takes approximately 3-4 working days.
| eRegulations Links | Deeds and Commercial Registry Authority Guyana Revenue Authority NIS |
| Relevant documents | Business Registration Incorporation NIS Application Tax Registration |
| Relevant institutions | Deeds Registry Guyana Revenue Authority National Insurance Scheme |
Complete and submit registration form, along with a copy of your National ID card or passport.
Fee:
An investor (foreign or domestic) is free to exit from a venture in accordance with the law. Unlike other Caribbean jurisdictions, the law relating to the liquidation of companies is embodied in the Companies Act. Under this Act, a company may be wound up either by an order of the Court or voluntarily. In bankruptcy proceedings, additional obligations may be imposed on directors, managers or principal officers of an external company who reside in Guyana.
The Guyana Office for Investment (GO-Invest) was established under the Public Corporations Act (1994) in 1994 as a semi-autonomous body and comes under the direct purview of the Ministry of Business. The CEO answers to a Board of Directors which is composed of representatives of both the private and public sectors.
GO-Invest is divided into two divisions, one responsible for Investment Facilitation and Promotion and the other for Export Promotion. With these divisions, GO-Invest offers a full complement of services to local and foreign investors and exporters.
The purpose of an EIA is to determine the potential environmental, social, and health effects of a proposed development, so that those who take the decisions in developing the project and in authorising the project are informed about the likely consequences of their decisions before they take those decisions and are thereby more accountable. It is intended to facilitate informed and transparent decision-making while seeking to avoid, reduce or mitigate potential adverse impacts through the consideration of alternative options, sites or processes.
The Environmental Protection Agency (EPA) was legally established by the Environmental Protection Act in 1996. It has the responsibility to take the necessary measures to manage, conserve, protect and improve the environment. This entails taking actions to prevent and control pollution; assess the impact of economic development on the environment; and ensure the sustainable use of Guyana’s natural resources.
The EPA is under the umbrella of the Department of Environment, Ministry of Presidency.
The Agency is regulatory with authority to grant or not grant permits for developmental project that will impact on the environment. As a regulator, the Agency is also required to monitor activities of development and to enforce the provisions of the Act.
It promotes public participation in relation to scoping of environmental impact assessments and encourages a better understanding and appreciation of the natural environment and its role in economic development.
The Agency is the National Focal Point (NFP) for three Multi-lateral Environmental Agreements: UN Convention of Biological Diversity, Basel Convention, and the Cartagena Convention. Its role as NFP it to coordinate activities to meet national responsibilities under these Agreements.
For the UN Convention on Biological Diversity (UNCBD), the Agency coordinates the preparation of National Biodiversity Reports, National Biodiversity Strategies and Action Plans, and Biodiversity Regulations. These tools also able the Agency to accomplish its responsibilities according to the Environmental Protection Act.
For the Basel Convention (Basel Convention on the Control of Trans-boundary Movements of Hazardous Wastes and Their Disposal) the Agency takes measures to control the import and export of hazardous waste through granting of authorization.
For the Cartagena Convention (Convention for the Protection and Development of the Marine Environment of the Wider Caribbean Area), the Agency coordinates activities particularly in relation to the protection of marine wildlife.
| Relevant documents | EPA Act |
With the aim of enabling more efficient and standardized business processes in Guyana, the government has committed to establishing a single window system for both trade and building/construction permits. The Single window systems will essentially curb many of the issues investors face due to the time and cost consumption of having to go to all the relevant agencies to complete a business registration or to apply for a license or permit. This initiative will see a centralized station/portal being established, where an application can be filed, and it goes through all the relevant chains which reduces time and cost for an investor.
Guyana has a multi-racial population of 786,559 or just
over three persons per square kilometre. However, because about 90 percent of the
country’s population lives in the coastal zone, which comprises only about 7.5 percent of
its total land area, the actual living-space of most of the population is cramped.
The sector comprising agriculture, hunting and forestry has the largest group of workers.
In this sector 60,481 persons or 25per cent of the working population are employed. In
the wholesale and retail trade 43,056 or 18per cent of the working population are
employed, manufacturing 27,869 persons or 11.6per cent of the working population and
in transportation 8.4per cent. Public administration employed 15,219 persons or 6.3per
cent of the working population.
The majority of employees in Guyana are employed on contracts of employment of an indeterminate duration. Persons can be engaged also on fixed term or special contracts and employers are now making more use of this type of employment contract.
There are also contracts for service where persons are employed for specific tasks and are paid for actual work done.
A probationary period of three months is required by law unless the parties agree to a different period. A contract can be terminated by either party without notice during probation.
An employer is allowed to suspend an employee without pay as a form of disciplinary action when it is reasonable to do so having regard to the nature of the violation, the employee's duty, the nature of any damage incurred and the previous conduct of the employee.
No employer shall suspend or lay off an employee, except for disciplinary action, unless the employer is empowered to terminate for redundancy and any such lay off shall not exceed six weeks. The employer has no obligation to pay wages during the period of suspension or lay off.
A contract of employment for an unspecified period of time may be terminated:
Where an employee who is warned in writing commits a similar offence within six months the employer can terminate without notice.
The notice period is two weeks where the employee has been employed for less than one year and one month when employed for more than one year. A notice of termination shall not be given by an employer during any period of an employee's absence on authorized leave.
The following reasons do not constitute good or sufficient cause for dismissal or disciplinary action:
Prior to terminating on grounds of redundancy an employer must consult the workers' representatives or recognized trade union and the Ministry of Labour.
Severance or redundancy payments must be paid when employees are terminated without just cause or made redundant. The minimum entitlement shall be equivalent to:
Where a complaint has been made to the Ministry of Labour and the Ministry finds that a disciplinary action is unreasonable, such disciplinary action shall be withdrawn and any payment withheld shall be refunded.
Complaints of unfair dismissal shall be made to the High Court and if proved, the court shall award compensation.
Reinstatement can only be secured through union representation or arbitration award.
The Minister of Labour is empowered to prescribe the number of hours to be worked in various occupations/industries. Where no hours are prescribed the hours are agreed upon by the parties or by collective agreements. For all industries deemed a factory the hours shall be eight hours per day unless otherwise prescribed.
Some prescribed hours are:
|
Printing Industry: |
42 hours per week |
|---|---|
|
Restaurants, Hotels: |
40.75 hours per week |
|
Security Guards: |
44 hours per week |
For all hours worked in excess of the prescribed or agreed hours, payment shall be made at 1.5 times the basic hourly rate.
Employees working at work-sites deemed a factory shall be paid a premium for all hours worked on a Sunday or Public Holiday.
Employees are entitled to paid holidays after each six or twelve months. Minimum holidays set out in the Holidays with Pay Act are computed as follows:
On termination, workers holidays entitlements are pro-rated and they are paid in lieu of such holidays.
The Co-operative Republic of Guyana has the following public holidays:
New Year's day (1 January), Republic day (February 23), Phagwah, Good Friday, Easter Monday, Labour Day (1 May), CARICOM Day, Emancipation Day, Deepavali, Eid-ul-Azah, Youm-man-Nabi, Christmas Day (25 December), Boxing Day (26 December).
Employees are not normally paid for public holidays not worked but deductions are not made from wages of weekly or monthly paid employees.
Collective agreements allow for payments if the employee work the day before and the day after the holiday.
Women workers are protected during pregnancy and after childbirth from discrimination, disciplinary action or dismissal for her pregnancy or reasons connected with her pregnancy by the Constitution, the Termination of Employment and Severance Pay Act and the Prevention of Discrimination Act.
The National Insurance Act allows for thirteen weeks maternity leave, starting not earlier than six weeks before expected confinement. In exceptional cases a further thirteen weeks is permitted.
Maternity benefits paid is equivalent to 70% of the average insurable income. Collective Agreements usually provide for the employer to make up the difference.
Daily breaks for breastfeeding is not common and parental leave for the father is not available.
Collective Agreements allow for paid special leave for a number of reasons including trade union education, bereavement, sports, education and jury service.
Sick leave is not an entitlement but employees are allowed both certified and uncertified sick leave. Payment for sick leave is made by the National Insurance Scheme after the third day of illness. Most Collective Agreements require the employer to make up any shortfall.
All other special leave is gained through collective agreements.
The statutory minimum age for employment is fifteen years.
Where any work is likely to jeopardize the health, safety and morals of young persons, the age of employment shall not be less than eighteen years.
Persons under eighteen year of age shall not be employed during the night.
The Prevention of Discrimination Act prohibits discrimination on the grounds of race, sex, religion, colour, ethnic origin, indigenous population, national extraction, social origin, economic status, political opinion, disability, family responsibilities, pregnancy, marital status or age except for purposes of retirement or employment of minors.
The above prohibition is applicable to the advertisement of the job, in determining who should be offered the job, in the terms and conditions offered, and in respect to promotion, transfer, training, retrenchment and dismissal.
Sexual harassment is defined as an unwanted conduct of a sexual nature in the workplace or in connection with the performance of work which is threatened or imposed as a condition of employment on the employee or which creates a hostile working environment for the employee.
The Ministry of Labour enforces the law on discrimination and sexual harassment.
Minimum wage rates are set through Minimum Wage Orders made under the Labour Act and Wages Council Act. There is not a national minimum wage, but rates are set for a number of occupations and industries. There is no difference in rates for male and female employees.
Where rates have not been fixed by minimum wage orders wages can be agreed upon by individual or collective agreement. Nothing prohibits the payment of higher rates than those fixed by minimum wage orders.
It is an offence for an employer to pay less than the prescribed or agreed rates.
Except for lawful deductions an employee is entitled to recover the entire amount of wages earned and such wages shall be paid in money and not otherwise.
No employer shall impose, as a condition of employment, any terms as to the place at which, or the manner in which, or the person with whom, any wages or portion thereof, is to be expended.
The rules of the various trade unions set out the procedures for the election or selection of trade union and workers' delegates and representatives.
An employer shall not, with intent to dissuade or prevent a worker from becoming an officer, delegate or representative, threaten to dismiss, affect his or her employment adversely or alter his or her position.
Collective agreements set out the rights and obligations of workers' representatives.
The Trade Union Act, 1921, sets out the legal basis for trade unions. It allows any seven (or more) members to form a Trade Union. Other clauses sets out for:
An employee is free to join, or not to join, a trade union and can withdraw from membership and an employer shall not make the employment of a worker subject to the condition that he or she shall or shall not become a member of a trade union or shall relinquish membership.
There is no law on union security, but most Collective Labour Agreements contain provisions for union security and collection of union dues by check off.
The Trade Union Recognition Act, 1997 provides for a tripartite board to certify unions as recognized majority unions. The board is comprised of three workers and three employers representatives and a chairman appointed after consultation with both parties. To obtain certification a union must prove, whether by survey or poll, that it has 40% support within the bargaining unit.
The government has no veto powers over decisions of the board.
The concept of unfair labour practices is not defined in national law.
The Labour Act, as amended by Act No. 9 of 1984, defines collective agreement as an agreement or arrangement made by or on behalf of one or more organization of employees and one or more employers or organizations of employers. Such agreement should prescribe the terms and conditions of employment and procedures for negotiation or arbitration of terms and conditions of employment and for resolution of grievances.
A collective agreement is legally enforceable unless the parties state in the agreement that whole or part of it is not intended to be legally enforceable.
A copy of every collective agreement shall be presented to the Ministry of Labour.
Collective bargaining can occur at industry or national level.
Agreements may contain any matter agreed to by the parties, provided it is not contrary to any law or International Labour Organisation Conventions.
Most agreements provide for arbitration to be the final step in the negotiation process. The Minister can also refer matters to arbitration if either or both parties refuse to put the grievance to arbitration and the difference is deemed injurious to the national interest.
The Trade Union Recognition Act requires that where a trade union obtains a certificate of recognition for a bargaining unit, the employer shall recognize the union, and the parties shall bargain in good faith for the purpose of collective bargaining.
A collective agreement is binding on every employee within the bargaining unit whether that employee is, or isn't, a member of the trade union.
Duration of agreements are determined by the parties including notice for amendments or termination.
There is no law on protection of workers during industrial action.
However, an employee's participation in industrial action in conformity with the provisions of any law or collective agreement does not constitute good or sufficient cause for dismissal.
Most collective agreements provide for a period of notice to be given to the employer prior to industrial action.
Strikes can be called by union executives or shop stewards.
It is accepted that the grievance procedure including conciliation/mediation would have been adhered to prior to strike action.
The Public Utility Undertakings and Public Health Services Arbitration Act deals specifically with essential services. There is a standing tribunal established under this Act. The act carries a schedule of services deemed essential services. Employees in essential services can strike if they advise the Minister of Labour of the existence of a grievance and the Minister, within a period of one month, failed to put machinery in place for the resolution of the dispute.
There is no law on lockouts and it is rarely used by employers.
There are specially trained officers within the Ministry of Labour who are empowered to investigate individual labour disputes. Officers are empowered to prosecute employers before the courts of law for failure to resolve a dispute. There is no labour court.
Persons aggrieved by the actions of an employer can approach the courts directly through a civil suit.
All matters can be appealed to the Guyana Court of Appeal.
A person working in Guyana typically earns around 175,000 GYD per month. Salaries range from 44,300 GYD (lowest average) to 782,000 GYD (highest average, actual maximum salary is higher).
This is the average monthly salary including housing, transport, and other benefits. Salaries vary drastically between different careers.
| Accounting and Finance | |
| Accountant | 111,000 GYD |
| Accounting Assistant | 86,100 GYD |
| Accounting Manager | 261,000 GYD |
| Bookkeeper | 79,400 GYD |
| Chartered Accountant | 147,000 GYD |
| Corporate Treasurer | 236,000 GYD |
| Financial Analyst | 204,000 GYD |
| Financial Manager | 330,000 GYD |
| Internal Auditor | 163,000 GYD |
Administration / Reception / Secretarial | |
| Administrative Assistant | 83,900 GYD |
| Office Manager | 140,000 GYD |
| Receptionist | 64,900 GYD |
| Secretary | 78,000 GYD |
Advertising / Grapic Design / Events | |
| Art Director | 158,000 GYD |
| Creative Director | 166,000 GYD |
| Graphic Designer | 102,000 GYD |
| Photographer | 88,600 GYD |
Airlines / Aviation / Aerospace / Defense | |
| Aerospace Engineer | 216,000 GYD |
| Air Traffic Controller | 184,000 GYD |
| Flight Attendant | 118,000 GYD |
| Pilot | 285,000 GYD |
Architecture | |
| Architect | 210,000 GYD |
| CAD Drafter | 86,700 GYD |
Automotive | |
| Mechanic | 61,700 GYD |
| Service Advisor | 112,000 GYD |
Banking | |
| Bank Branch Manager | 291,000 GYD |
| Teller | 60,500 GYD |
Bilingual | |
| Teacher | 126,000 GYD |
| Translator | 147,000 GYD |
Business Planning | |
| Business Analyst | 214,000 GYD |
| Business Development Manager | 264,000 GYD |
| Project Manager | 182,000 GYD |
Care Giving and Child Care | |
| Nanny | 70,000 GYD |
| Nursery Teacher | 61,600 GYD |
Construction / Building / Installation | |
| Civil Engineer | 146,000 GYD |
| Construction Project Manager | 282,000 GYD |
| Health and Safety Officer | 72,800 GYD |
Customer Service and Call Center | |
| Call Center Representative | 60,400 GYD |
| Customer Service Manager | 226,000 GYD |
| Customer Service Representative | 62,300 GYD |
Engineering | |
| Electrical Engineer | 169,000 GYD |
| Engineer | 160,000 GYD |
| Mechanical Engineer | 160,000 GYD |
Executive and Management | |
| Chief Executive Officer | 370,000 GYD |
| Chief Financial Officer | 331,000 GYD |
| General Manager | 293,000 GYD |
Food / Hospitality / Tourism / Catering | |
| Chef | 106,000 GYD |
| Executive Chef | 121,000 GYD |
| Hotel Manager | 305,000 GYD |
| Travel Agent | 109,000 GYD |
| Waiter / Waitress | 54,100 GYD |
Health and Medical | |
| Dentist | 389,000 GYD |
| Dietitian | 333,000 GYD |
| Laboratory Technician | 127,000 GYD |
| Nurse | 129,000 GYD |
Human Resources | |
| Human Resources Manager | 248,000 GYD |
| Human Resources Officer | 96,500 GYD |
Information Technology | |
| Computer Technician | 128,000 GYD |
| Database Administrator | 158,000 GYD |
| Developer / Programmer | 157,000 GYD |
| Information Technology Manager | 287,000 GYD |
| Network Engineer | 142,000 GYD |
Law Enforcement / Security / Fire | |
| Police Officer | 102,000 GYD |
Legal | |
| Attorney | 312,000 GYD |
| Legal Assistant | 83,300 GYD |
Media / Broadcasting / Arts / Entertainment | |
| Journalist | 179,000 GYD |
Pharmaceutical and Biotechnology | |
| Biomedical Engineer | 138,000 GYD |
| Pharmacist | 212,000 GYD |
Sales Retail and Wholesale | |
| Cashier | 60,400 GYD |
| Sales Manager | 297,000 GYD |
| Sales Representative | 111,000 GYD |
Teaching / Education | |
| Elementary School Teacher | 111,000 GYD |
| Secondary School Teacher | 142,000 GYD |
The most standard form of bonus where the employee is awarded based on their exceptional performance.
Company Performance BonusesOccasionally, some companies like to celebrate excess earnings and profits with their staff collectively in the form of bonuses that are granted to everyone. The amount of the bonus will probably be different from person to person depending on their role within the organization.
Goal-Based BonusesGranted upon achieving an important goal or milestone.
Holiday / End of Year BonusesThese types of bonuses are given without a reason and usually resemble an appreciation token.
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The National Insurance Scheme extends Social Insurance Coverage on a compulsory basis, to all persons between the ages of sixteen (16) and sixty- (60) years who are engaged in Insurable Employment. Coverage is also extended on a voluntary basis, to persons who cease such employment before reaching age sixty- (60) years, until the attainment thereof. Employed Persons outside this age range who are in Insurable Employment are also covered, but for Industrial Benefits only. However, Self-employed Contributors are not covered for Industrial Benefits.
Both the Employer and Employee pay Contributions into the Scheme based on a 'Payroll System'. The total Contribution for Employed Contributors is 14% of the actual Wage / Salary paid to the Employee. This is derived from a 5.6% deduction from the Employee’s pay, and the remaining 8.4% paid by the Employer on behalf of the Employee. The actual wage / salary is, at present, subjected to a ceiling of $280,000.00 per month or $64,615.00 per week for National Insurance purposes.
Self-employed Persons contribute 12.5% of their declared Income as Contributions, while Voluntary Contributors pay 9.3% of their Insurable Earnings as determined from the last two years of their employment.
Immigration services only offer one type of permit for employment in Guyana. The standard work permit covers any non-national wishing to work for a company in the country, and it lasts for three years. Work permit holders can renew their visas as many times as they’d like, but they will have to pay a fee each time.
Guyana also offers a business visa. While this visa doesn’t allow a person to be employed within the country, it does allow for various other business matters. This documentation is useful for people planning to invest in companies in the area. It would also be a valid visa for establishing a subsidiary.
To receive a work permit, applicants must have the following:
Individuals should confirm their passport is valid for at least six months when they enter the country. The work permit application is available online at the Ministry of Foreign Affairs website. The application requires an attached copy of a passport photo for identification purposes.
The work permit application also requires information on the employer, including their address, registration number, and the name of all directors. The company will need to provide some additional details, including a reason for hiring a non-national over a legal resident and the names of any other non-national employees besides the applicant.
Before an individual can apply for a work permit, they need to receive a job offer from an employer in the country. Once they accept this offer, they can fill out the permit application and attach their passport photo. Before a worker enters the country, the employer must contact the Ministry of Home Affairs with the worker’s name, address, and gender.
Once the employee submits their application, their employer and immigration services will have to approve them for a work permit. The approval process can take anywhere from a week to a month. Once the license is approved, the employee will receive their visa on arrival.
The Ministry of Foreign Affairs and International Cooperation recognizes 75 countries that do not need a visa to enter the country. If you are from an area not on this list, you’ll need to apply for a visitor visa at your nearest consulate before entering. Regardless of your visa status at the border, you’ll receive your work permit on arrival.
There is no official residence permit in the country. Nonresidents are only taxed on their Guyanese income, but if they stay in the country for 183 days or more, they are considered residents by the Revenue Authority. This recognition means these individuals qualify for personal allowance every year.
It’s also important to note that the work permit application and processing cost GYD 29,250.97. Applicants will have to pay this fee every time they renew their permit.
| Relevant documents | Work Permit Application |
| Relevant institutions | Ministry of Foreign Affairs Ministry of Home Affairs |
GUYANA POWER & LIGHT INC. (GPL) is the largest supplier of electricity in Guyana, South America with its franchise area encompassing all three counties of Demerara, Berbice and Essequibo. GPL supplies all its domestic customers with voltage ranging from 110 to 220 Volts depending on the area. The voltage distribution system of GPL is quite unique since it delivers both 50 and 60 cycle power.
Prior to 1st October, 1999, the Company, then named the Guyana Electricity Corporation was wholly owned by the Government of Guyana. A 50/50 equity partnership was established between the Government of Guyana and a consortium comprising the Commonwealth Development Corporation (CDC) of the United Kingdom and the Electricity Supply Board International (ESBI) of Ireland which brought into being the new Company, GPL. This partnership dissolved in April 2003 and GPL reverted to 100 percent ownership by the government and people of Guyana. This arrangement still stands at present.
| Rate category | Tariffs | Current fixed rate/ demand charge | New fixed rate/ demand charge | Current energy charge | 15% fuel rebate | Current net energy rate | Energy rate as of April, 2021 |
| Residential: Lifeline | A < 75 kWh | 359.52 | 341.54 | 46.00 | 6.90 | 39.10 | 39.10 |
| Residential | A > 75 kWh | 369.52 | 351.04 | 51.09 | 7.66 | 43.43 | 43.43 |
| Commercial | B | 2596.84 | 2467.00 | 66.33 | 9.95 | 56.38 | 56.38 |
| Industrial | C | 1852.86 | 1760.22 | 59.92 | 8.99 | 50.93 | 50.93 |
| Industrial | D | 1852.86 | 1760.22 | 57.39 | 8.61 | 48.78 | 48.78 |
| Street Lights | E | 50.68 | 7.60 | 43.08 | 43.08 |
| Rate category | Tariffs | Current fixed rate/ demand charge | New fixed rate/ demand charge | Current energy charge | 15% fuel rebate | Current net energy rate | Energy rate as of April, 2021 |
| Residential: Lifeline | GA < 75 kWh | 406.81 | 386.47 | 55.50 | 8.32 | 47.18 | 47.18 |
| Residential | GA > 75 kWh | 406.81 | 386.47 | 56.25 | 8.44 | 47.18 | 47.81 |
| Commercial | GB | 2709.74 | 2574.25 | 69.21 | 10.38 | 58.83 | 58.83 |
| Industrial | GC | 1933.42 | 1836.75 | 62.52 | 9.38 | 53.14 | 53.14 |
| Industrial | GD | 1933.42 | 1836.75 | 59.89 | 8.98 | 50.90 | 50.90 |
| Street Lights | GE | 52.89 | 7.93 | 44.96 | 44.96 |
The Georgetown Sewerage and Water Commission was established on the 23rd March 1929 to provide for the completion of the Sewerage Works of Georgetown. Its objectives were to establish a body of Commissioners to control maintain and manage the Sewerage System and Waterworks of Georgetown; and to provide for the maintenance thereof. GS&WC was responsible for Central Georgetown. The Georgetown Sewerage and Water Amendment Act Number 4 of 1994 made the GS&WC an autonomous public sector institution under the control of the Minister of Works and Communications.
The Guyana Water Authority (GUYWA) was established under the Guyana Water Authority Act Chapter 55:01 of 1972. Its main activities included the construction, operation and maintenance of water distribution systems in order to supply potable water to the public. Prior to the establishment of the Authority, responsibility for the water sector was that of the Pure Water Supply Division of the Ministry of Works.
The Guyana Water Authority was responsible for delivering water to the suburban, Rural and the Hinterland regions excluding Linden and those areas supplied by the Sugar Industry Labour Welfare Fund Committee.
The Guyana Water Incorporated (GWI) was established, resulting from the merger of the Guyana Water Authority (Guywa) and the Georgetown Sewerage and Water Commissioners (GS&WC), on May 30, 2002. Thus, GWI is responsible for the previously divided responsibilities of GUYWA and GS&WC.
| Domestic metered customer (volume charge per cbm*) | Monthly Tariff GYD$ | Yearly Tariff GYD$ |
| Rual | 60.90 | |
| Urban (Low ratable value) | 60.90 | |
| Urban (Medium ratable value) | 60.90 | |
| Urban (High ratable value) | 94.50 | |
| Minimum monthly charge | 600 | |
| Fixed monthly charge (charge if it exceeds the consumption charge) | 600 | |
| Non-Domestic metered customer (volume charge per cbm*) | ||
| All categories | 96.60 | |
| Minimum monthly | 1,450 | |
| Fixed monthly charge (charge if it exceeds the consumption charge) | 1,450 | |
| Domestic unmetered customer (volume charge per cbm*) | ||
| Rual | 742 | 8,900 |
| Urban (Low ratable value) | 742 | 8,900 |
| Urban (Medium ratable value) | 1,150 | 13,800 |
| Urban (High ratable value) | 1,333 | 16,000 |
| Non-Domestic unmetered customer (volume charge per cbm*) | ||
| Domestic combined | 900 | 10,800 |
| Small commercial | 1,367 | 16,400 |
| Medium commercial | 3,292 | 39,500 |
| Large commercial | 10,967 | 131,600 |
| Small Institutions | 1,367 | 16,400 |
| Medium Institutions | 3,292 | 39,500 |
| Large Institutions | 10,967 | 131,600 |
| Small Industrial | 2,742 | 32,900 |
| Medium Industrial | 5,483 | 65,800 |
| Large Industrial | 18,283 | 219,400 |
| Domestic Unmetered Customers | ||
| Ratable Band 1 & 2 | 983 | 11,800 |
| Ratable Band 3 | 1,533 | 18,400 |
| Ratable Band 4 & 5 | 1,758 | 21,100 |
| Non domestic unmetered customers - all categories | 2,750 | 33,000 |
| eRegulations Links | Water Supply Application Form Compliance Form |
GWI supplies water to the various communities through two main sources, namely; well water from ‘A’ and ‘B’ sand wells and surface water from rivers, creeks, springs and canals. These sources have inherent characteristics which require respective treatment and monitoring to address the following parameters: pH, turbidity, color, iron, aluminum, total coliforms and E. Coli etc. The Corporation has 24 treatment plants which supplies water to 45% of its customers along the coast and 137 wells from which water is distributed directly to the network without first passing through a treatment facility. There are also clear water springs in the hinterland locations from which water is distributed directly to the network in a similar manner to the wells.
GWI reorganized its Scientific Services department to allow institutionalizing the importance of water quality testing at all levels and the use of instrumentation and standards enforcement. The process as depicted below, shows the investigation of water quality, use of reports from lab testing and complaints or requests for testing to do sampling, testing, reporting and the adoption of appropriate interventions for quality control to ensure adherence to international standards.
The Corporation believes that the sharing of information on water quality is important to its stakeholders (government and citizens) and thus will do so via interaction of its personnel with the RDC’s and NDC’s, customers
Telecommunications in Guyana include radio, television, fixed and mobile telephones, and the Internet. Early telecommunications were owned by large foreign firms until the industry was nationalized in the 1970s. Government stifled criticism with a tight control of the media, and the infrastructure lagged behind other countries. Guyana Telephone and Telegraph Company (GT&T) holds a monopoly on most such services.
In the 1990s, a shift towards privatization was geared towards improving the overall quality of services in the country. The 2016 Telecommunications Act was made to improve quality and lower prices for consumers as well as establish universal access
INFRASTRUCTURE
Guyana has various communication cables for international connections. The Suriname-Guyana Submarine Cable System (SGSCS) linking Trinidad, Guyana, and Suriname and the Americas II Fiber optic submarine communications cables linking the United States, Puerto Rico, the U.S Virgin Islands, Martinique, Curacao Trinidad, Venezuela French Guiana and Brazil with terrestrial extensions to Suriname and Guyana. The X-Link Submarine Cable was installed in 2019 and owned by E-Networks Inc., links Guyana to Barbados. An overland Brazil to Guyana Fiber Optic Cable that was built in 2011 has been abandoned due to extensive damage.
Guyana has reliable international long distance service. 100% digital network; national transmission supported by fiber optic cable and rural network by microwaves; more than 150,000 lines; many areas still lack fixed-line telephone services; 2019 budget allocates funds for information and communications technology development; broadband subscribers remains small and end-users incur expense to use.
The two main landline and mobile telephone service providers are:
1. Guyana Telephone and Telegraph (GTT) - is the largest provider of telecommunication services in Guyana with a subscriber base exceeding three hundred thousand. It holds a legal monopoly on land line and international telephone services. It is 80% owned by the Massachusetts-based American company Atlantic Tele-Network (ATN) and 20% owned by a Hong Kong investor.
GTT has invested heavily in the Guyanese telecommunication infrastructure, including fibre over land and undersea. Although its exclusivity does not extend to the broadband retail market, the company is the only digital subscriber line (DSL) operator in Guyana. The only effective competition comes from fixed-wireless broadband providers. GTT’s mobile unit, Cellink, competes with Digicel Guyana for market share; both companies operate GSM/GPRS networks.
Initially GTT's focus was on the provision of local fixed line, long-distance and international voice calls. These services are used today, however not as extensively as before. GTT has expanded its residential portfolio services to include DSL, Blaze, fixed LTE, Mobile Services and roaming, while business customers can experience Biz Fibre, Cloud Solutions, Circuits, PBX.
2. Digicel Guyana began operations in November 2006 after acquiring the Guyanese mobile operator Cel*Star U Mobile, or Cel*Star, from its parent holding company, Trans-World Telecom Caribbean. Digicel re-launched the business as Digicel Guyana in February 2007.
The company provides 2G GSM services over the 900 MHz band, and launched 3G UMTS with HSPA+ data services over B5 (850 MHz) in May 2016 which it brands as a "4G" network.
Calling Code - 592
International Call Prefix - 001
Main lines: Over 150,000 lines in use, 131th in the world; fixed-line tele density is about 18 per 100 persons (2019).
Mobile cellular: 617,998 subscriptions, 169th in the world; mobile-cellular tele density is about 83 per 100 persons (2019).
The three major ISPs in Guyana were GTT, Digicel and E-Networks. In 2021, the government made licensing exemptions for small ISPs, to encourage private-sector telecommunications development.
With regard to internet censorship and surveillance, there are no government restrictions on access to the Internet or credible reports that the government monitors email or Internet chat rooms without judicial oversight.
| eRegulations Links | GT&T Digicel E-Networks |
Radio history in Guyana started in the early 20th century, owing its early development to the country's interest in cricket. It was largely established by foreign media companies until a wave of nationalization mid-century. Currently there are stations aired that are privately owned, but Guyana has received much criticism for having tight government controls.
Cable providers:
Transport infrastructure investment has always been a fundamental engine of economic development. Transport infrastructure is composed of the fixed installations of canals, waterways, airways, railways, roads, and terminals, as well as pipelines such as seaports, refueling depots, trucking terminals, warehouses, bus stations, railway station, and airports.
The Government of Guyana seeks to develop Guyana’s infrastructure to meet the increasing demands of the oil and gas sectors, and transport demands of citizens. Roads require restoration and expansion to address the needs of the large vehicles from the oil and gas sector and inbound freight to its ports.
Financing of these projects is likely to be done through Public Private Partnerships. Training on procurement practices is needed to enhance management effectiveness. The current administration signaled its intent to pursue heavy infrastructure projects, including a deep water harbor bridge for Berbice, a high span bridge across the Demerara river, and a hydroelectric plant.
The national road transport network is the main pillar that supports the economic, social and cultural activities of
Guyanese through the movement of people, goods, agricultural products, construction material, equipment and
mining supplies from one place to another. There are 428 km of primary roads, 583 km of secondary roads and
1,593 km of interior roads which includes trails.
1 A total of 2,604 km of roads are recorded in the national road
network system. The main roads along the coast and those along the river banks are all paved roads and account
for 35% of the total roads, whereas, the interior roads are unpaved and account for 65% of the total roads in the
network.
Land Transport is still limited in Guyana and pavement is mostly restricted to the coast.
The Demerara Harbour Bridge serves as the critical link between Georgetown and all the activities west of the Demerara River. The
Demerara Harbour Bridge (DHB) is a two−lane floating bridge built in 1978, 2km long, near the mouth of the
Demerara River and it connects road traffic between the East and West Banks of the river. It is primarily a
low−level bridge which possesses an elevated span with a vertical clearance of 9 m in the middle of the river to
permit small craft to pass.
Fares
Georgetown is well served with taxis, operating throughout the city and to and from other urban centres.
Fares charged from Cheddi Jagan International Airport to Georgetown range between US$25.00 and US$30.00. Visitors should ONLY use the official taxi services registered to operate at CJIA. They can be identified by their uniforms (Crème Shirt-Jackets, Black Pants and ID Badges. Fares are listed at the Airport and are fixed).
Fares charged from Ogle Airport to Georgetown usually range from GYD $1,000 (USD$5.) to GYD $2,000 (USD$10.) depending on drop off destination. Taxi fares for destinations around Georgetown range from GYD $500 to GYD $600.
The only other means of public transportation consists of minibus vehicles that seat 15 persons. Minibus fares range from GYD $80 to GYD $100, depending on destination
With the opening of the Berbice Bridge between East and West Berbice, travelling time is lessened for commuters from Georgetown to Berbice and onward travel to Suriname via the crossing at Moleson Creek.
A toll is charged at the Berbice Bridge based on vehicle’s capacity. Passengers travelling from Moleson Creek to Nickerie, Suriname using the Canawaima Ferry will be charged a fee of US$15.00 per adult passenger one way and US$ 20 return. Return fare for children (3ys – 12yrs) will be US$10.00 one way and US$15:00 return
Commuters to West Demerara have a choice of road transport via the Demerara Harbour Bridge (Be sure to check the bridge opening schedule http://www.harbourbridge.gov.gy/schedule.html) or by water taxis from the Stabroek Stelling to Vreed-en-Hoop, which is obliquely opposite each other.
The highway, which begins on the West Coast of Demerara, is heavily trafficked since it provides a link to Parika on the East Bank of Essequibo River that has become an important centre of economic activity in the Essequibo region.
| eRegulations Links | Demerara Harbour Bridge Berbice Bridge |
The Cheddi Jagan International Airport (CJIA) is the main international airport of Guyana. It is located at Timehri, 40 km southwest of Georgetown, and has two runways of 2,270 m and 1,525 m, respectively, both being 45 m in width. Customs, immigration and security services are based at the airport. A major push has been made to improve international airlift capacity and airport infrastructure. A total of eight carriers currently provide international service at CJIA, which is a major improvement over the state of affairs a decade earlier, when there were only three international carriers.
The CJIA Timehri facility and the international airport is in the process of modernization and set to be transformed upon completion of the project. In November 2011, The Government of Guyana signed a contract with CHEC of China for the expansion of the runway at the CJIA and the construction of a modern terminal building at an estimated cost of USD 138 million. The runway was extended from 2,300 m to 3,300 m.
The existing terminal
building will be completely rehabilitated and used for departures only, while a new terminal building will be
constructed for arriving passengers only. A boarding corridor with two passenger boarding bridges will connect
directly to the terminal buildings, and a new diesel generator building and a fire pump station will be constructed.
Ogle Airport Inc.
A second airport for Georgetown is located at Ogle, on the East Coast Demerara, much nearer to the city (9.7 km
south-east). In late 2001 the Government leased out the management and operation of the Ogle aerodrome, a
former sugarcane airstrip, to Ogle Airport Inc (OAI). The lease is for a minimum period of 25 years with extension
periods of 25 years on request of the lessee. The objective was to develop Ogle Aerodrome to full international
standards and to act as a backup to
CJIA in the event of an emergency, disaster, accident or some other un-serviceable situation. In 2010, the International Civil Aviation Organization (ICAO) conferred "international" status to the air terminal.
Intra-regional and domestic services were developed at Ogle, which is the hub for domestic flights to Guyana's interior. In anticipation of increased regional air traffic to the facility, an EU-subsidized construction project began in January of that year, intended to upgrade the terminal building and extend the primary paved runway to a usable length of 1,200 m. It offers once-daily service to the in-town airstrip in Paramaribo, Suriname and provides links with other member states of the CARICOM Community, whose headquarters were re-located from Georgetown to a purpose-built site at Turkeyen close to the airport.
Of more than 200 airstrips in Guyana, only 24 have frequent scheduled services (a further 73 have frequent nonscheduled services). Parts of the country's south, south west and south-east have large areas that are only
accessible by air. The 24 airstrips with scheduled services are used for tourism, general aviation associated with
gold mining, and to serve isolated communities in the interior.
Existing conditions in the Demerara harbour threaten to limit the potential for growing maritime trade. As in
Suriname, Guyana primarily is serviced by smaller feeder vessels and general cargo ships, mainly because of severe
draft restrictions in the ships’ access channels that have, for years, been hampered by heavy siltation arising from
the Amazon River outflows.
The water depth in
Georgetown Harbour and, specifically, in the access channel is a serious issue in our port structure: from a depth of 6 metres over many years, the period
2008 to 2011 has seen a dramatic shallowing to approximately 4.5 metres. As a result, the cargo capacity of vessels
transiting the harbour has been reduced to between 60 and 70% of previous levels and has translated to higher
freight rates.
According to a feasibility study for the Linden-Lethem road, the time taken for a 40ft container to travel along the
Amazon River from Manaus to a port in Brazil for further transhipment to Caribbean or North America is 3 days
more than it would take using the Linden-Lethem corridor; the river route is also estimated to cost 50% more than
the Guyana land route.
A deep-water port would facilitate exports/ imports to and from Roraima and Amazonas. Potential sites for the
deep-water port are currently being studied by the Inter-American Development Bank (IADB) in the estuaries of
the Essequibo, Demerara and Berbice Rivers including the current Demerara port site, in consultation with the
Guyana Land and Surveys Department, Transport and Harbours Department and the Maritime Administration
(MARAD).
Georgetown is well served with taxis, operating throughout the city and to and from other urban centres.
Rented cars are also available.
Before embarking, do enquire of the rates for travel to destination of interest. Use only recognized yellow t taxis, operating throughout the city aaxis or taxis bearing the logos of respective taxi services. Alternatively, do seek the guidance of the accommodation’s front desk staff to assist in your selection of service providers, possibly those that are already contracted to the facility.
There are also ultra –cheap privately owned mini buses operating in allocated zones- around the city, along the coast, to the Cheddi Jagan International Airport and Linden. This arrangement extends to all mini bus routes throughout the country. Please check and confirm those fares before embarking on your journey.
Fares charged from Cheddi Jagan International Airport to Georgetown range between US$25.00 and US$30.00. Visitors should ONLY use the official taxi services registered to operate at CJIA. They can be identified by their uniforms (Crème Shirt-Jackets, Black Pants and ID Badges. Fares are listed at the Airport and are fixed).
Fares charged from Ogle Airport to Georgetown usually range from GYD $1,000 (USD$5.) to GYD $2,000 (USD$10.) depending on drop off destination. Taxi fares for destinations around Georgetown range from GYD $500 to GYD $600.
Travel around Georgetown by Bus: Short stops within the limits of the city are approximately GY$120.00 and longer stops G$160.00 and more of these prices will vary from location to location.
With the opening of the Berbice Bridge between East and West Berbice, travelling time is lessened for commuters from Georgetown to Berbice and onward travel to Suriname via the crossing at Moleson Creek.
A toll is charged at the Berbice Bridge based on vehicle’s capacity. Passengers travelling from Moleson Creek to Nickerie, Suriname using the Canawaima Ferry will be charged a fee of US$15.00 per adult passenger one way and US$ 20 return. Return fare for children (3ys – 12yrs) will be US$10.00 one way and US$15:00 return
All leases of publicly owned land are
recorded at the Lands and Surveys
Commission (Long Leases, 21 yrs & over,
recorded at Deeds Registry).
The 99-year lease was adopted after 1912. The 21-
year lease was introduced in 1919 and the 25-year
lease was adopted about 1965 with the right of
renewal. At present State lands are allocated under
50-year leases.
(Guyana is now in the process of drafting an
overarching National Land Policy)
The Guyana Lands and Surveys Commission was created in 1999 via an Act of Parliament to replace the former Lands and Surveys Department which functioned since the 1800s.
1. Private Land
2. Public Land - State Owned or Government Owned
3. Industrial Land
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Freehold land administration is carried out by
the Deeds Registry under the Office of Attorney
General of the Supreme Court and by the Land
Registry under the Office of the Minister of
State.
There are two systems of land law and property
recordings governing the private market, namely,
the "transport index" based on Roman Dutch
legal practices, and the "index of land transfer of
title," that is, the Torrens system introduced in
the early 1950s by the British.
There are two categories of publicly
owned lands, namely, State lands and
Government lands.
State lands, formerly called Crown Lands
are those transferred at Independence in
1966, to the people of Guyana and
became known as State lands under
Section 3(b) of the State Lands Act
Ch.62:01
Government lands are those
purchased by or granted to the
Government of Guyana by the
State to be developed with
general revenue, for public
purposes, such as land for
hospitals, and schools, land
development schemes, etc.
While the Commissioner of Lands and Surveys is the
custodian of all State lands, the Guyana Lands and
Surveys Commission in accordance with the State
Lands Act and Regulations, the Guyana Forestry
Commission, under Act 2 of 1979, and the Guyana
Geology and Mines Commission, under the Act 9 of
1979, administer land use for agriculture (and other
purposes), forestry and mining throughout Guyana,
respectively.
Accordingly, each of these three Government
institutions issues titles for different purposes over
the same land space. The need for some
rationalisation of authority in the allocation of
public land is, therefore, of some concern in the
planning of future institutional arrangements.
State lands can be given out in one of three forms: a license, a permit or a lease.
The Government of Guyana through the Ministry of Tourism, Industry and Commerce invites application from interested business persons both local and overseas desirous of acquiring industrial land located at Bon Success, Lethem Region #9.
Industrial plots are available for Lease for the purpose of manufacturing and its services related activities in the following zones: - processing industries, light, medium and heavy industries; industrial businesses, small industries; and information and communication zones.
A modern Business Incubator Centre to provide business support services is on the Estate. The investors should have the capacity to commence construction immediately as they receive official permission to occupy the allocated land area.
The dimension of the Industrial Estate and approximate size of the plots are as follow:
Size of Estate - Approximately 80 Acres
Size of Plot(s) - Range from approximately 3.953 acres to 0.092
acres
| Relevant documents | Apply Industrial land |
Georgetown is a bustling city where real estate prices are constantly climbing. Buying a home in Georgetown is still reasonable with the current exchange rate. There are plenty of choices; from gated communities to luxury mansions welcoming the relaxing Atlantic Ocean breeze.
Other than the downtown core, Guyana has numerous small villages where you can buy properties as low as $50,000 US dollars. Foreigners are treated the same as Guyanese citizens when acquiring and disposing all properties. The process for acquiring or leasing land depends on its classification. In most cases, state and government owned lands are leased rather than sold, through an application process that involves the Guyana Lands and Surveys Commission (GLSC), GO-Invest and other regulatory bodies. Private transactions are generally carried out between lawyers for the buyer and seller.
Income tax rate is 33.33%
Rental Income is taxed at a flat rate of 33.33%.
Capital Gains tax is levied a flat rate of 25% but assets and properties held for more than 25 years are exempt from capital gains taxation.
Inheritance tax is levied between 0.50% on inheritance exceeding 100,000 (US$498).
Residents are taxed on their worldwide income at a flat rate of 33.33% on income exceeding GYD420,000 (US$2,093).
Most residential and commercial properties in Guyana are private, transported land. A transport is the Dutch system of ownership similar to having land title, and the British system of ownership. Guyana has a mixture of both the Dutch and British land registry system.
The Guyana multiple listing services, a system where all realtors post their properties for sale, provides a wide range of homes. A potential buyer can search based on criteria such as location, type of properties and price range. While the country is different, the fundamentals of real estate are the same. First shop by location, then size of the property and finally upgrades.
When buying properties in Guyana, 2.5% of the sale price or the current value is paid to the registrar. This fee is usually paid equally between the buyer and the seller. There is a conveyance fee of 1% paid to the attorney. It takes an average of three months to advertise a transport and then transfer to the buyer. Buyers and sellers must prepare a purchase of sale agreement with closing dates exceeding three months to be on the safe side. To facilitate the transfer, the seller needs to provide the original title document along with a valid identification. The seller must obtain a certificate of compliance from The Guyana Revenue Agency and their local municipality stating that the seller does not owe any taxes to the Government.
With you the new homeowner in mind, the Planning and Settlement Development Department of the Central Housing and Planning Authority (CHPA) has made available, for a small fee, a Developer’s Manual which deals with procedures as part of the CHPA’s new development facilitation and compliance practice.
The manual is the first of a two-part document dealing with the development permission process and proposed development standards for Guyana, and is intended to convey information to the public on the procedures involved in planning permit requirements for all types of development, as well as the process of evaluating and deciding on development application.
As promised last week, today’s focus is on the various Types of Applications you need to submit when thinking about doing any sort of construction.
All applicants are required to follow the appropriate application procedures to obtain planning permission from the Central Housing and Planning Authority.
There are two main types of applications for planning permission:
1. Outline planning application (Approval in principle)
2. Full planning application (Full approval)
Outline Planning Application for Planning Permission (Approval in Principle)Prior to submitting a detailed application to gain full planning permission, an interested party may submit an outline application, for which approval, in principle, may be granted. That permission may be granted conditionally or unconditionally, or may be refused.
In general, the determination of an Outline Application For Planning Permission informs an applicant as to whether or not the type of development proposed is consistent with existing land use policy, and provides overall site development standards applicable to the particular site.
Prior submission of an outline application for planning permission reduces the risk of unnecessary cost due to abortive work in the preparation of building plans/drawings for the proposed development, which may not be approved.
Once outline-planning permission has been granted, the applicant will need to submit a Full Planning Application. Outline planning permission does not authorise the commencement of development. Development may not begin until full planning permission is granted.
It must be noted that an outline planning permission is valid for only one year, and during that time, the applicant is expected to apply for full planning permission. Failure to submit a full planning application before the one-year period expires will result in the outline permit becoming invalid.
Requirements for Outline Planning Application
1. Copy of completed outline application form (Form can be purchased from the CHPA) at a cost of G$200.
2. Two (2) copies of site location plan (See heading 3.4 ‘Architectural Drawings’ for information on scale)
3. Proof of Ownership or rights to develop property (building and/or land).
4. Processing fee of G$5,000 (See Appendix 1).
5. Any additional information which may be required by the CHPA, such as survey plan that relates to the parcel of land to be developed.
6. Covering letter indicating the intended use of the building/land to be developed.
For land subdivision, the following additional information is required:
1. Two (2) copies of design sketch showing lot sizes, layout of roads, drains and the general network, and community support facilities where possible.
2. Planning scheme for land subdivision of 10 or more lots.
Full Planning Application for Planning Permission (Full Approval)A full planning application requires the submission of detailed proposals to actually commence development. It is granted in the following circumstances:-
1. If the applicant wishes to carry out building operations, that is, erecting, altering or extending a building, together with other works incidental to the building works.
2. If the applicant wishes to change the use of the land or building(s), or part of a building.
Requirements for Full Planning Application – Building Operations:Applications for full planning permission must be made through the respective Local Authority.
Applicants must submit the following documentation when submitting full application for building operations:
1. The completed building application form, which is collected from the respective Local Authority;
2. Three (3) copies of building plans, including a plan of the site, floor plans, and two elevations (1 front and 1 side). These drawings should clearly show the following:
a. The external dimensions of existing and/or proposed buildings;
b. The precise location of all existing buildings, including the identification of buildings to be demolished or any additions to be made; and
c. The existing and proposed building setback distances.
3. A detailed site location sketch/plan of the land to which the application relates, giving sufficient detail to enable the site to be positively identified in the field;
4. Legal evidence showing proof of ownership; and
5. Any additional information which may be required by the Authority to make a proper determination on the application.
The Local Authority collects the processing fees for the application, and retains 10 per cent of it, except for the Mayor and City Councillors of Georgetown, where 50 per cent is retained. The Local Authorities process the application, and refer it to CHPA with recommendation(s).
Requirements for Full Planning Application – Change of UseA full planning permission is required if an applicant wishes to change the use of the land or building(s) or part of a building.
An application for change of use of land or building must be made directly to CHPA on the prescribed application form, which can be purchased at a cost of G$200 at the Central Housing and Planning Authority Headquarters.
For areas outside of Georgetown, the application must be accompanied by a No Objection Letter from the respective Local Authority.
Applicants must submit the following documentation when submitting full application for change of use:
1. A completed application form from the CHPA;
2. Legal evidence showing proof of ownership;
3. A covering letter describing the intended use of building(s) or land to be developed;
4. Two copies of architectural drawings, which include floor plans and elevations (1 front and 1 side);
5. Site plan showing the proposed change for each building(s) or parcel of land;
6. A detailed site location sketch/plan of the land to which the application relates, giving sufficient detail to enable the site to be positively identified in the field; and
7. Any additional information, which may be required by the Authority to make a proper determination on the application.
For major commercial, tourism and industrial development, similar information must be submitted as required for an application for building operations.
Required processing fees for change of use1. For minor development, except offices, liquor establishments and industrial undertaking $5,000.00
2. For major development, including offices, liquor establishments and industrial undertakings $15,000.00
Free economic zones are defined as a class of special economic zones designated by the trade and commerce administrations of various countries.
Guyana currently doesn't have any special economic zones but creating an enabling environment for business and investments is high on the agenda of the Government, and part of the effort to achieve this goal will be to create free and special zones.
Resident companies are liable to tax on their worldwide income. Non-resident companies that carry on a trade or business in Guyana are subject to tax on the income that is derived from Guyana.
Guyanese residents are taxed on their worldwide income over the personal allowance on a scale from 28% to 40%. Non-residents are only taxed on Guyanese sourced income. Foreigners living in Guyana are considered a resident for tax purposes if they they spend more than 183 days in Guyana in a tax year.
Corporation tax is paid at a rate as follows:
Companies engaged in both commercial and non-commercial activities are taxed at dual-rates as follows:
Following an amendment to Section 7 of the Corporation Tax Act, private corporate educational institutions and private corporate medical healthcare institutions were exempt from the payment of Corporation Tax from January 1, 2020.
Important note for Commercial Companies
In circumstances where the Corporation Tax paid by a commercial company is less than two percent (2%) of the turnover in the year of earning, then a tax at the rate of two percent (2%) of the turnover of the commercial company will apply
The following changes will be applied to the assessment of Income Tax for the year 2020:
In accordance with the First Schedule of the Property Tax Act, payment of Property Tax will be applied at the following rates: –
In computing the net property of any person the following must be included: –
Two individuals, Individual A and Individual B have net properties as follows:
Failure to file a property return or payment of taxes after the due date attracts the following penalties: –
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The Capital Gains Tax Act, Cap. 81:20 allows for the deductions if ‘any expenses were incurred in the acquisition of the property by the owner, before any change of ownership; any expenses incurred during the process of improvements, additions or alterations to the property; and any expense incurred by the owner as it relates to the transaction in the change of ownership. However, it should be noted that if these expenditures were facilitated as deductions in accordance with the Income Tax Act, then same cannot be used as deductions in ascertaining a Capital Loss or Gain.
If any of the following factors apply to you, then in accordance with the Capital Gains Tax Act, you are exempt from the payment of this tax:
a) Any gains that were treated as a profit or income under the Income Tax Act
b) Transactions which were carried out over twenty-three (23) years after the date the asset was acquired, and from which any gains were received.
c) If you received any gains within twelve (12) months after the change of ownership of an asset, same is deemed as part of the chargeable Income for Income Tax purposes. As such, these gains would not be subject to capital gains tax.
d) Any gains which do not exceed Five Hundred Thousand Guyana Dollars (G$500,000).
Capital Gains Taxes are submitted along with your Individual Income Tax Return, and should also include a computation sheet. This tax like the Income Tax, is due on or before April 30 of each year.
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The Mayor and City Council Georgetown
The Treasurer’s Tax section is responsible for collecting property rates & tax for the Georgetown municipality. Georgetown municipality is spread & divided across 60 wards and property records are maintained per ward. The amount due for Rates/Taxes is calculated based on a percentage of the assessed value.
The percentage rate depends on the classification of the property. Properties are categorised as follows:
Each property owner has to pay tax as per the assigned categorization. The valuation of property for the purpose of rate calculation comes from the Ministry of Finance, Evaluation Division. The assessed value of the property can change with the modifications in the property type but the rate of tax does not change very often.
If you are a church or charitable organisation, you may be exempt from paying rates & taxes. To confirm exemption, please follow the steps below:
A demand notice, as mandated by Chapter 28 as per the Laws of Guyana, is sent to all the property owners at the beginning of the year and thereafter every quarter as per an agreed schedule. This is either posted or hand delivered by the department and reminds each home owner of what they need to pay.
Payments for the property rates can be made by cheque or cash directly at City Hall.
The property tax can be paid in either of the following modes:
The property database is available as hard copy with the department which is referenced based on the Ward and assessment number. Certain properties are exempted from tax payment like Churches, Government schools and Public Hospital.
Discounts and waivers are also possible on the taxes. In these cases, the property owner would approach the Town Clerk along with a request and justification for a discount or a waiver on the tax to be paid. Discount is only given on the interest payable in cases where interest amount becomes equal to the principal and the property owner is able to justify his inability to pay the interest. Waivers are given by the council after a ministerial approval. Waivers can be given on base rate as well through this process. In case the property owner does not make the payment within the stipulated time, M & CC issues a delinquency letter in the name of the owner.
Stamp Duty - A tax levied at varying rates on various instruments, including Deeds of Conveyance, receipts, Bills of Exchange, Mortgages, Powers of Attorney and Policies of Insurance.
Consumption Tax – A tax levied on goods manufactured for local consumption, whether manufactured in Guyana or not. Rates of tax vary between 0%-30% depending on the classification of the goods.
Guyana is a member of the Caribbean Community and Common Market (CARICOM). Guyana maintains a Common External Tariff (CET) rate that ranges from 5 percent to 20 percent. A tariff rate of 40 percent applies only to agricultural products. All duties are value added. The customs act allows for the National Assembly to impose import or export duties on any goods. Additionally, the Government of Guyana levies a Value Added Tax (VAT) at a rate of 14 percent, applied equally to imports and locally produced goods and services. Though there are certain exceptions such as renewable energy technologies. VAT on merchandise imports is calculated based on the CIF (Cost, Insurance, and Freight) customs value plus the sum of import duties and any other taxes and charges. Businesses producing taxable supplies of goods and services (at the standard and/or zero rates) of GYD 10 million or more, over a 12-month period, must be VAT-registered. More information on VAT is available through the Guyana Revenue Authority website.
The Excise Tax Act of 2005 bestows responsibility for the administration of excise taxes on the Guyana Revenue Authority Commissioner. Excise taxes are charged on items which are considered consumables. The tax is charged on the following: alcoholic beverages, tobacco products, petroleum products, and vehicles. An excise tax is applied to the total value of each item upon entry to Guyana. The total value is inclusive of freight insurance, customs duties, fees, and other charges.
Excise taxes may be waived by the Commissioner General of the GRA if items imported are for temporary use. In such circumstances, goods must be exported within three months and a deposit left with the Commissioner General. Goods that include excise taxes are also subject to VAT. An importer must pay the tax before the goods are cleared for use in Guyana. More information on the excise tax is available through the GRA website.
Under the Customs Act, Guyana levies a GYD10 environmental tax on every unit of non-returnable metal, plastic, glass, or cardboard container of any alcoholic or non-alcoholic beverage imported into Guyana. The tax is paid to the GRA.
A simple way to calculate VAT is to apply the formula R/ (1+R); R is the rate of tax applicable to 14%. The VAT fraction is [14 %/ (1+14%)] which is equal to 7/57.
a) The VAT fraction is also used to calculate the amount of tax paid by consumers in cases where the consumer wants to know how much VAT was paid.
Guyana also has two Double Taxation Avoidance Conventions with Canada and United Kingdom, both of which provide for exchange of information. Guyana also exchanges information under the multilateral Caribbean Community (CARICOM) agreement. ”
“Exchange of Information between countries and tax authorities, is lauded as the most effective way we currently have at our disposal, to combat tax arbitrage . The FATCA agreement is one such agreement.
The US law known as the Foreign Accounts Tax Compliance Act (FATCA) is intended to tackle United States taxpayers who seek to evade taxes by holding offshore accounts. The FATCA requires that Financial Institutions in Guyana (depository, custodial, investment or specified insurance companies etc.) report any account holder who is a US citizen.
The information must be reported to the Guyana Revenue Authority (GRA) on a yearly basis. The GRA in turn relates the information to the US-Internal Revenue Service (IRS).
Like other countries, Guyana has a number of laws, regulations and administrative processes that govern the investment regime (i.e., locating, operating, finance, and import and export of goods). This section provides an overview of Guyana’s regulatory framework, within the sequence of procedures an investor may consider when deciding to locate a business in Guyana. More detailed information and assistance can be obtained from GO-Invest, Ministry of Trade and Tourism, or other regulatory bodies. The Government has continued to take steps to improve the regulatory climate, with recent developments including reducing the number of necessary trade licenses, passing a Value-added Tax bill in 2005, the Investment Act of 2004, the Small Business Act of 2004, and a Competition and Fair Trading Bill. Furthermore, as part of the recent NCS process, the Government is strengthening regulatory and administrative processes as well as improving the environment for public-private dialogue through the establishment of a National Competitiveness Council.
Investment Act 2004
The Investment Act of 2004 is the principal legislation governing investment in Guyana and is intended to play a reassuring role for investors by providing legal protection for investment, increasing the predictability, stability and transparency of the legal regime for investment, promoting the development of international best practices regarding investment, and streamlining the existing procedures for investment. Specifically, the Act provides assurances that:
* – A few limitations do exist in the mining and finance sectors. In the former, investment in small and medium sized operations is restricted unless a joint partnership exists. In the latter, foreigners must receive approval to obtain loans greater than US$10,000.
Guyana is a party to the International Centre for Settlement of Investment Disputes (ICSID Convention). Additionally, Guyana has ratified the Convention on the Recognition and Enforcement of Foreign Arbitral Awards (1958 New York Convention), which entered into force in December 2014.
Guyana does not have a bilateral investment treaty with the United States. Negotiations began in 1993 but broke down in 1995. Since then, the two countries have not conducted subsequent negotiations.
Double taxation treaties are in force with Canada (1987), the United Kingdom (1992), and CARICOM (1995). Other double taxation agreements remain under negotiation with India, Kuwait, and the Seychelles. The CARICOM-Dominican Republic Free Trade Agreement provides for the negotiation of a double taxation agreement, but no significant developments have occurred since March 2009.
There is one ongoing investment dispute involving a U.S. telecommunications company, which previously held a legal monopoly in Guyana, contesting its liability for back taxes.
International arbitration decisions are enforceable under the 1931 Arbitration Act of British Guiana, as amended in 1998. The Act is based on the Geneva Convention for the Execution of Foreign Arbitral Awards of 1927. The GoG enforces foreign awards by way of judicial decisions or action, and such awards must be in line with the policies and laws of Guyana.
According to the 2020 World Bank’s Doing Business Report, resolving disputes in Guyana takes 581 days, and on average costs 27 percent of the value of the claim. According to many businesses, suspected corrupt practices and long delays make the courts an unattractive option for settling investment or contractual disputes, particularly for foreign investors unfamiliar with Guyana.
The GoG has set up a Commercial Court to expedite commercial disputes, but this court only has one judge presiding, and companies have reported that it is overwhelmed by a backlog of cases. The Caribbean Court of Justice, based in Trinidad and Tobago, is Guyana’s court of final instance. In practice, most business disputes are settled by mediation which avoids a lengthy court battle and keeps costs low to both parties. Guyanese state-owned enterprises are not widely involved in investor disputes. To date, there are no complaints on the court process relating to judgments involving state owned enterprises.
The 1998 Guyana Insolvency Act provides for the facilitation of insolvency proceedings. The 2004 Financial Institutions Act gives the Central Bank power to take temporary control of financial institutions in trouble. This Act provides legal authority for the Central Bank to take a more proactive role in helping insolvent local banks.
According to data collected by the World Bank Doing Business Report, resolving insolvency in Guyana takes three years on average and costs 28.5% of the debtor’s estate, with the most likely outcome being that the company will be sold piecemeal. The average recovery rate is 18 cents on the dollar. Globally, Guyana ranks 163 out of 190 economies on the Ease of Resolving Insolvency Report.
Guyana is a member of the Caribbean Community (CARICOM). Goods traded with fellow CARICOM countries are duty free as long as they satisfy origin rules laid out in the Treaty of Chaguaramas.
As a signatory to the Summit of the Americas, Guyana agreed in principle to the establishment of a Free Trade Area of the Americas. Guyana enjoys preferential market access to the United States under the Caribbean Basin Trade Partnership Act (CBTPA), an expansion of the 1983 Caribbean Basin Initiative (CBI).The CBTPA agreement provides for duty and quota free access for products manufactured in designated beneficiary countries. CBTPA legislation was passed in the house on September 23, 2020 allowing for the extension of CBTPA benefits through 2030. Guyana also enjoys preferential market access to Canada under CaribCan.
The CARIFORUM Economic Partnership Agreement (EPA), of which Guyana is a member, grants all CARIFORUM goods, with a temporary exception for rice and sugar, duty-free and quota-free access to the European Union. The CARIFORUM region is the first group among African, Caribbean, and Pacific countries to secure a comprehensive EPA with Europe that covers not just goods, but services, investment, and trade related issues, such as innovation and intellectual property.
Guyana has an Economic Partnership Agreement with the European Union (EU) and is a signatory to a number of bilateral trade agreements (e.g., the Guyana–Brazil Partial Scope Agreement, the Guyana–China Trade Agreement, and the Guyana–Venezuela Partial Scope Agreement). These agreements seek to enhance trade in traditional and non–traditional markets.
Guyana is also a signatory to a number of regional trade agreements (e.g. CARICOM–Colombia Trade, Economic and Technical Cooperation Agreement, CARICOM–Costa Rica Free Trade Agreement, CARICOM–Cuba Free Trade Agreement, CARICOM–Dominican Republic Free Trade Agreement, and CARICOM–Venezuela Trade, Economic, and Technical Cooperation Agreement).
There are no restrictions on the repatriation of capital and investment income, and residents and non-residents have unlimited access to foreign exchange markets and to repatriate funds.
There are no exchange control rules in place in Guyana.
Guyana has entered into the following IGAs:
Guyana joined the World Intellectual Property Organization (WIPO) and acceded to the Berne and Paris Conventions in late 1994. Guyana has not ratified a bilateral intellectual property rights agreement with the United States.
Registering a patent or trademark can take six months or longer, but even with a completed registration, no effective enforcement mechanisms exist to protect intellectual property rights. Patent and trademark infringement continues to be common. Local television stations, at times including the state-owned and operated National Communication Network (NCN), pirate and rebroadcast TV satellite signals with impunity. Most music, videos, and software for sale are pirated. Book piracy is also widespread, especially foreign textbooks. Some estimates show that illegally photocopied textbooks account for nearly one-third of local sales. HBO has an ongoing issue with local firms allegedly infringing its intellectual property rights.
Additionally, it was reported by the former head of the leading e-governance authority in Guyana that more than one-third of the computers used in government offices have utilized pirated software. The government has signaled its intention to ensure all software utilized by its computers is compliant and respects intellectual property rights, and has already taken steps to correct this.
Guyana’s laws have not been amended to fully conform to the requirements of the Trade Related Intellectual Property Rights (TRIPS) Agreement. In 2001, the Ministry of Foreign Trade and International Cooperation and Ministry of Legal Affairs drafted TRIPS legislation, but the draft has not moved forward.
In any foreign market, companies should consider several general principles for effective protection of their intellectual property.
An ACT to promote, maintain and encourage competition and to prohibit the prevention, restriction or distortion of competition and the abuse of dominant positions in the trade; to promote the welfare and interests of consumers, to establish a Competition Commission and for connected matters.
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Guyana’s economy was radically transformed in 2015 with the discovery of a rich offshore oil field in the country's waters about 120 miles from Georgetown. By the end of 2020, another 17 oil fields had been found in Guyana’s Stabroek Block, and it was projected that by 2025 these fields would be yielding some 750,000 barrels of oil per day. Exxon, which made the discoveries, entered into a partnership with Guyana, and in December 2019 it began production in the first field discovered. Burgeoning oil production promised to spur growth in other economic sectors and to dramatically raise the country’s standards of living.
Guyana's economy is now the fastest growing in the world with a projected GDP growth of 26.2% in 2020. Guyana had a per capita gross domestic product of $8,300 in 2016 and an average GDP growth of 4.2% over the previous decade.
Developed in conjunction with the World Bank and the International Monetary Fund (IMF), the ERP significantly reduced the government's role in the economy, encouraged foreign investment, enabled the government to clear all its arrears on loan repayments to foreign governments and the multilateral banks, and brought about the sale of 15 of the 41 government-owned (parastatal) businesses. The cellphone company and assets in the timber, rice, and fishing industries also were privatized. International corporations were hired to manage the huge state sugar company, GuySuCo, and the largest state bauxite mine. An American company was allowed to open a bauxite mine, and two Canadian companies were permitted to develop the largest open-pit gold mine in South America.
However, efforts to privatize the two state-owned bauxite mining companies, Berbice Mining Company and Linden Mining Company have so far been unsuccessful.
Most price controls were removed, the laws affecting mining and oil exploration were improved, and an investment policy receptive to foreign investment was announced. Tax reforms designed to promote exports and agricultural production in the private sector were enacted.
According to the World Bank Guyana’s economy will remain resilient against the effects of COVID-19, maintaining its growth trajectory as the petroleum sector ‘picks up steam’.
Guyana grew at an extraordinary rate of 43.5% in 2020, having completed a year of oil production. The positive spill-over effects have been dampened by a deep contraction in the non-oil economy, triggered by COVID-19 mitigation measures.
Despite the lingering adversities, projections remain positive, with the country set to record economic growth of 20.9% at the end of 2021, 26.0% in 2022 and 23.0% in 2023. (GC)
The terms of Guyana’s international trade and investment agreements are essential to its export performance, and economic growth. Over 80% of both export and imports are with countries that Guyana has some form of trade agreement with. Moreover, the collapse of the EU sugar trade deal led to the most significant structural decline in exports in the last 30 years. This demonstrates the influence trade agreements have on Guyana’s exports, which in turn account for a large share of GDP.
Guyana is a member of the Caribbean Community (CARICOM). Goods traded with fellow CARICOM countries are duty free as long as they satisfy origin rules laid out in the Treaty of Chaguaramas.
As a signatory to the Summit of the Americas, Guyana agreed in principle to the establishment of a Free Trade Area of the Americas. Guyana enjoys preferential market access to the United States under the Caribbean Basin Trade Partnership Act (CBTPA), an expansion of the 1983 Caribbean Basin Initiative (CBI). CBTPA benefits exist in effect during a “transition period” continuing until the sooner of September 30, 2020, or the date on which the Free Trade Area of the Americas or another free trade agreement, as described in legislation, enters into force between the United States and a CBTPA beneficiary country. Guyana also enjoys preferential market access to Canada under CaribCan.
The CARIFORUM Economic Partnership Agreement (EPA), of which Guyana is a member, grants all CARIFORUM goods, with a temporary exception for rice and sugar, duty-free and quota-free access to the European Union. The CARIFORUM region is the first group among African, Caribbean, and Pacific countries to secure a comprehensive EPA with Europe that covers not just goods, but services, investment, and trade related issues, such as innovation and intellectual property.
Guyana has an Economic Partnership Agreement with the European Union (EU) and is a signatory to a number of bilateral trade agreements (e.g., the Guyana–Brazil Partial Scope Agreement, the Guyana–China Trade Agreement, and the Guyana–Venezuela Partial Scope Agreement). These agreements seek to enhance trade in traditional and non–traditional markets.
Guyana is also a signatory to a number of regional trade agreements (e.g. CARICOM–Colombia Trade, Economic and Technical Cooperation Agreement, CARICOM–Costa Rica Free Trade Agreement, CARICOM–Cuba Free Trade Agreement, CARICOM–Dominican Republic Free Trade Agreement, and CARICOM–Venezuela Trade, Economic, and Technical Cooperation Agreement).
Under the WTO Trade Facilitation Agreement (TFA), Guyana has committed to implementing 73% of provisions
immediately and up to 27% by 2020 (conditional on technical assistance). The TFA aims to reduce bureaucratic
delays and ‘red tape’ surrounding international trade by simplifying, modernizing and harmonizing global export
and import processes. This includes provisions to expedite the movement, release and clearance of goods, as well
as for effective cooperation between customs authorities. Full implementation of the TFA is expected to boost
developing country exports and economic growth by 3.5% and 0.9% per year respectively.
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Agriculture is a major export earner for Guyana and employs a significant portion of the population. Agriculture in 2019 contributed 18% to GDP. The agriculture sector in Guyana has stagnated, driven by the divestiture of the sugar industry by the previous government. Agriculture remains a significant employer of the labor force in Guyana. The new government signaled its intent to diversify the economy, including the agriculture sector, with a promise to revitalize the sugar industry and not be fallen by Dutch Disease. Guyana’s tropical climate and topography incentivizes production of crops that differ largely from those grown in the cooler climates of the United States. Guyana’s proximity to the United States makes it an ideal investment destination for agriculture.
Guyana’s endowment of large arable land and favorable climatic conditions provides opportunities for investors. Many former employees of the defunct sugar estates remain unemployed, affording international investors access to cheap labor. The new government seeks to diversify the economy with potential heavy investment in the agriculture sector. The COVID-19 pandemic did not disrupt local supply chains from production. The reduction in cargo flight did affect exports negatively.
GDP
JOB CREATION
FOREIGN EARNINGS
WATER RESOURCES
CULTIVABLE LAND
NON-TRADITIONAL
SUGAR
RICE
Traditional
Non-Traditional
OPPORTUNITIES
Opportunities in Guyana’s agriculture sector are diverse across the supply chain. There are tax concessions available for investors. Guyana has the potential to be the breadbasket of the Caribbean. The competitive advantage to produce at a relatively low cost should prove attractive to investors. Agro-processing and packaging remains a significant opportunity for large investors. The market is unsophisticated and areas of development include forward contracts, solar technologies and research into bio –fuels.
There are excellent investment opportunities for the production of meat (beef and lamb), poultry products, milk, and milk products for both domestic consumption and export to the Caribbean. In particular, Guyana’s savannahs provide a favorable environment for medium to large-scale cattle-raising. Guyana has been certified as foot-and-mouth disease free, providing it with favorable access to many markets. Additionally, a Public Private Partnership framework exists for the development of dairy processing facilities and modern slaughterhouses.
Guyana’s agriculture sector utilizes some heavy equipment. There is significant potential for processing and harvest equipment. Current commercial agriculture practices are not technologically driven but significant opportunity exists for use of sophisticated technologies including GPS, robotics and precision agriculture systems.
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Rice Incentives
Sugar Incentives
Non-Traditional Agricultural Incentives
Fisheries Incentives
Livestock Incentives
General Incentives to Benefit Agriculture
Enabling Environment
Incentives are subject to change.
Guyana is one of the newest petroleum producing regions in the world, making the first commercial grade crude oil draw in December 2019. Crude oil is sent abroad for refining.
Historically, Guyana is a net importer of fuel. Guyana's offshore Guyana Basin and the inland Takatu Basin have attracted foreign companies such as Shell, Total and Mobil since the 1940s, who completed much geological surveyance of the area and drilled a number of wells.In the Takatu Basin, 3 wells were dug between 1981 and 1993, however they were dry or not found to be commercially viable.
Offshore oil exploration began in the 1950's, and 9 wells were drilled between 1965 and 1970, only one of which struck oil, Abary-1 well in the Kanuku license area. In the late 1980's, Mobil, Total, Guyana Exploration and BHP continued exploration in the region.
In the mid-2000s, CGX Energy attempted to spud a well but the rig was deterred by Surinamese gunboats claiming they were in Surinamese waters. United Nations International Tribunal for the Law of the Sea (ITLOS) settled the border dispute in September 2007 but no further wells were dug until 2012.
As of 2020, Guyana has nine petroleum blocks under active leases, of which six have had active exploration.The Petroleum Division of the Guyana Geology and Mines Commission has the responsibility of monitoring exploration in Guyana.
Esso, a subsidiary of ExxonMobil, began exploring the off-shore region in 2008.In May 2015 ExxonMobil announced discovery of more than 90 metres of high-quality, oil-bearing sandstone reservoirs about 200 km off the coastline,considered to be one of the largest crude oil discovery of the past decade.Subsequent discoveries were made in early 2018 at sites Payara, Liza deep, Snoek, Turbot, Ranger and Pacora.
The Liza-1 well was drilled to 5,433 metres in 1,742 metres of water, and was the first well on the Stabroek block, which is 26,800 square kilometres in size. Early estimates claimed the area contained 700 million barrels of oil (a total value of US$40 billion, international crude price at the time of discovery). Continued discoveries by ExxonMobil and Hess increased that estimate to exceeding 4 billion barrels of oil equivalent, potentially producing 750,000 barrels per day by 2025.Yet another assessment in early 2020 has since elevated the amount to eight(8) billion barrels of oil equivalent.
Liza Phase 1 project in the Stabroek block began producing crude 20 December 2019.
While no oil revenue has yet to reach the Guyanese treasury, the offshore activity has already helped the local economy. More than 1,000 Guyanese are employed with Exxon Mobil and its contractors. Also, the company is taking a three-pronged approach to help Guyana achieve lasting value from its petroleum resources. The effort includes developing a Guyanese workforce, working with local companies to supply in-country goods and services, and investing to support health, education and infrastructure programs. The company’s foundation has invested $13 million to support these efforts, and its operations have spent more than $60 million with local firms. The Guyanese Business Development Centre was opened to promote the establishment of small- and medium-size businesses in the country.
The Petroleum Management program is one of three major programmes within the Ministry of Natural Resources which contributes to achieving the Ministry’s overall mission of developing, implementing and overseeing policies for the responsible exploration, development and utilization of natural resources whilst ensuring the protection and conservation of the environment and advancement of the green economy.
The Government of Guyana seeks to reduce Guyana’s energy dependence on fossil fuels, reduce the nation’s carbon footprint and signal its intent for economic development through reliable energy. The government is interested in Public-Private Partnerships. The Guyana Energy Agency (GEA) has completed feasibility studies in areas identified as suitable for hydropower investments. Guyana remains open to the development of smart grids, solar and wind farms, aligned with increasing efficiency and contributing to a low carbon development.
Guyana’s energy generation is largely fossil fuel-based, coming from plants utilizing heavy fuel oil. The cost of electricity is USD 0.32 per KWH. Power is not stable in many areas. This high cost of electricity continues to affect operating performance for most businesses and is seen as a major challenge. Renewable energy is a suitable solution which can address these challenges especially micro-grids for outlying regions. The Ali administration promises to reduce the cost of power and provide reliable electricity. The intention to reduce energy costs joined with renewable energy presents significant opportunities for private investors. Guyana has significant potential for hydro-power, similar to its neighbor Suriname which has utilized this opportunity. Investors seeking to invest in Guyana’s renewable energy sector should contact the Guyana Office for Investment for relevant opportunities. Additionally, the Guyana Energy Agency has completed feasibility studies and areas of potential for hydropower. Incentives are available in the form of tax concessions. The 2019 budget presented changes to the Wear and Tear Schedule of the Income Tax Act for capital investments in renewable and alternative energy, and further tax exemptions for hybrid or electric cars and electric motorcycles.
The Ministry of Finance published a Public-Private Partnership Policy Framework which is intended to provide for investments in priority areas, including the development of “min and maxi hydro-plants” and energy farms. On June 8, the previous Minister of Finance signed a USD14.6 million contract with the Islamic Development Bank for a hydro project. Guyana’s energy demand is anticipated to grow as population size and incomes increase as the oil and gas sector develops.
The challenge for potential investors evaluating renewable energy in Guyana is the current energy legislation, which allows the state-owned company Guyana Power and Light Inc, to have a monopoly over power generation. The absence of grid-tie in legislation to allow for the resale of power to the state-owned entity may affect feasibility studies unless a Public-Private Partnership is brokered. The Ali administration signaled intent to procure power from private firms following a series of power shortfalls in August 2020. In the National Budget for 2019, USD45 Million was allocated to improve the energy sector. An increase in spending on renewable sources of energy is expected following the increased revenues gained from oil.
Development of Microgrids for Outlying Regions
Industrialization of outlying regions is stymied by a lack of reliable electricity. The population size in many outlying regions is not large but these regions have the potential to become manufacturing hubs. Guyana Power and Light (GPL), the state-owned electricity company, loses a significant portion of power through old transmission and distribution lines. Microgrids can provide a low-cost clean energy reducing the grid congestion and peak loads. The new administration has signaled the development of microgrids as a priority for hinterland villages.
Development of Hydropower
The new government signaled its intent to proceed with the Amaila Falls Hydro Project. There exists potential for other projects of similar nature in the future as Guyana seeks to transition to renewable energy. Additionally, the energy consumption of the country is likely to increase significantly as the administration seeks to diversify the country into manufacturing and other energy-intensive sectors.
Development of Wind and Solar Farms
Guyana has tax concessions and capital write offs available for wind and solar farms investments. Additionally, wind and solar are areas which are covered under the Public-Private Partnership Framework published by the Ministry of Finance. Solar units are attractive for companies. Two major banks have installed solar panels and have seen a reduction in their operating expenses attributed to use of solar power.
Energy Efficient technologies
Guyana seeks to reduce its environmental impact through both the current administration’s Low Carbon Development Strategy and the previous administration’s Green State Development Strategy. This led to various incentives being offered by the government for deployment of technologies which reduce operational costs and increase profitability for many companies. This provides an attractive market both in industry and for the public sector.
Installation, extension and upgrading of distribution networks or provision of electricity
A major loss of electricity comes from the transmission and distribution of electricity from GPL. GPL continues to request government assistance to survive but has begun the process of rehabilitating existing infrastructure. The current administration seeks to upgrade distribution networks and increase power production, based on statements from the Ministry of Public Works and President Ali’s inauguration speech.
The Government of Guyana seeks to develop Guyana’s infrastructure to meet the increasing demands of the oil and gas sectors, and transport demands of citizens. Roads require restoration and expansion to address the needs of the large vehicles from the oil and gas sector and inbound freight to its ports.
Financing of these projects is likely to be done through Public Private Partnerships. Training on procurement practices is needed to enhance management effectiveness. The current administration signaled its intent to pursue heavy infrastructure projects, including a deep water harbor bridge for Berbice, a high span bridge across the Demerara river, and a hydroelectric plant. Historic procurement practices have been geared to the lowest cost projects, as opposed to the value lifecycle of the project, and scope exists for training and communication to be done in this area. The Procurement Act Amendment of 2004 requires the posting of contract awards on the National Procurement and Tender Administration website.
Guyana has a long history and tradition of mining and remains one of South America’s largest mineral producers and exporters.
GDP – The mining sector contributed 16% of Guyana’s GDP
Export Earnings – The mining sector contributes 56.4% (US$1,017.1 million) of Guyana’s export earnings.
Job Creation – The mining and quarrying sector employs an estimated 12 -18,000 Guyanese (approximately 4% – 6% of Guyana’s total workforce).
Value of Output – In 2019, the value of output from the mining sector was approximately G$211.1 billion
Mineral Exploration – Gold, diamond, bauxite, loam, uranium, manganese, oil, sand, etc.
Extractive Industries – The extractive industries accounted for approx. 52% of Guyana’s total exports in 2016
Bauxite Industry – The Bauxite industry has averaged 1.6 million tonnes over the last 6 years, ranging from 1.5 to 1.9 million metric tonnes and created employment for 535 persons
Oil Blocks – Approximately, 9 billion oil-equivalent barrels of recoverable resource from the Stabroek Block
Gold – Gold production as of July 2020: 357, 603.42 oz.
Benefits – The mining sector benefits over 200, 000 Guyanese
MINING OVERALL STRATEGY
GUYANA’s COMPARATIVE ADVANTAGE
WHY INVEST?
MINERALS
Gold (Au)– Gold extraction and exploration has been reported in the Guiana Shield since the colonial expansion of the 16th Century. Gold is mainly found in areas of greenstone belts of Guyana.
Diamond-Diamonds are only found in placer deposits in many of the main rivers of northwest Guyana. The alluvial diamonds seen in northern Guyana are thought to be derived from the Pakaraima Mountains, although the primary source of the diamonds is unclear.
Bauxite (Tarakulli and Bonasika deposits)-Bauxite extraction is a major mining industry in Guyana and the country is one of the main world producers of bauxite. The town of Linden in north Guyana is the principle centre for bauxite mining.
Quarry Stone-Guyana’s history in quarry stone stretches back decades with the industry providing the materials for buildings, the distinctive sea defense structures, roads, bridges and other infrastructure.
Sand and Loam-Sand and Loam-Silica sand is abundant in Guyana and found as the Pliocene-Pleistocene, “white sand” deposits which form a cover in many regions, notably the coastal area. Guyana possesses an abundance of white sand which is mainly used in the construction sector, and in the preparation of mortar for domestic, commercial and industrial purposes.
OPPORTUNITIES:
The Mining and value added production of semi-precious stones:
Industrial Minerals
Base Metal
Ferrous Metal: Iron as magnetite and laterite
Energy Materials: Uranium
Petroleum and Gas
Support Services:
INCENTIVES:
General incentives in the mining industry:
Mining Sector Incentives
The normal primary conditions that are applied to tax exemptions on vehicles/machinery/equipment are:
Incentives are subject to change.
Most manufacturing in Guyana involved the processing of agricultural products (sugar, rice, coconuts, and timber) and minerals (bauxite, gold, and diamonds). The production of alumina from bauxite was suspended in 1982. Guyana produced small quantities of textiles, ceramics, and pharmaceuticals in state-owned factories. Among those industries, the pharmaceutical industry showed the most potential for growth, having attracted investments from Beecham, a British firm, and from Tecno Bago, an Argentine firm. Manufacturers in Guyana also produced wooden furniture, cigarettes, and paints, and other products.
MANUFACTURING OVERALL STRATEGY
Traditional Opportunities:
Value-added, Export-oriented industries:
Manufacturing opportunities:
In addition to fiscal incentives, investors in the sector benefit from duty-free access to foreign markets under preferential trade arrangements such as the Caribbean Basin Initiative (USA), the Lome Convention (Europe), Caribcan (Canada) and special arrangements with Colombia and Venezuela.
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ABOUT GUYANA’S TOURISM SECTOR
TOURISM OVERALL STRATEGY
GUYANA’s COMPARATIVE ADVANTAGE
WHY INVEST?
OPPORTUNITIES
INCENTIVES:
Other Incentives within the Tourism Sector Exempt from the payment of import duties and excise taxes, motor buses with 12 or more seats, not exceeding four years old, purchased and used exclusively for the transportation of tourists anywhere in Guyana, and registered and licensed as a tourism operator by the Guyana Tourism Authority (GTA).
GOVERNMENT CONTRIBUTION TO INFRASTRUCTURE TOURISM INDUSTRY
Aerodromes and Airstrips
Roads and Public Amenities
Stellings
Incentives are subject to change.
GUYANA’s forests is an economically viable sector which has supported growth of several sectors and industries (small, medium and large). The sector is also an important source of energy, employment, livelihood and ecological integrity.
At a global level, forestry is estimated to contribute some 2 percent of world GDP and 3 percent of international merchandise trade (FAO 2018).Global Forest Products industry turnover exceed US$ 200 billion for product categories such as: logs, roundwood, sawnwood, plywood Panels, pulp and paper. Global Forest Products industry employs approximately 12.7 million people annually.
Over the past 5 years, on average, the forest sector as a whole employed 26,000 persons. The sector has contributed approximately US$36M-US$45M in export value annually over the past 5 years and has contributed production level of timber and plywood of 400,000m3 to 500,000m3 annually.
The Ministry of Natural Resources and the Guyana Forestry Commission (GFC) are working together to implement a suite of measures that were directed at strengthening and improving the sector’s performance. These measures will continue to be implemented and will be done in collaboration with the private sector and indigenous communities with whom there are continuous consultations.
The investment opportunities are abundant: from harvesting, to processing and manufacturing high end products especially using our lesser used species. A number of lucrative opportunities exist for investors interested in working with Guyana’s wood industry. These include
Value Added Products of Timber
Value Added Products
Non-Timber Products
INCENTIVES:
Other incentives
Incentives are subject to change.
Timber concessions in Guyana
Approximately fifty-two percent (52%) of the State Forest Estate have been allocated to timber harvesting under sustainable forest management techniques to ensure the sustainability of Guyana’s Forest Resources.
Three types of concessions are awarded based on area size and duration via a transparent, competitive process:
Guyana have signed several Trade Agreements with countries around the World which allows for the hassle free movement of certain commodities. Here is a partial list:
Brazil
Argentina (Trade and Economic Co-operation Agreement)
Canada
China (Trade agreement)
Cuba (Trade and Economic Co-operation Agreement)
Unites States of America (preferential market access under the Caribbean Trade Promotion Act)
Caribbean (CARICOM)
Latin America
Germany
United Arab Emirates
Ukraine
Fastest growing export markets
The service sector happens to be one of the largest in the Guyanese economy. It is even argued that it is perhaps the most loyal when it comes to delivering on tax payments.
Why Guyana?
OPPORTUNITIES
Fiscal Incentives are not available for all Subsectors that fall under the Services Sector: however, incentives are available to encourage investment in the following Subsectors:
Examples of items accessing concessions for shore Base
Vehicles:
Construction (putting together office unit)
Machinery and Equipment
Incentives are subject to change.
Information and Communication Technology
The overall vision is a knowledge-based society which is globally competitive and productive, and giving rise to the strategic placement of Guyana as a premier ICT hub in the region.
Increase access to cheaper data and bandwidth by:
Increase ICT literacy by:
GUYANA’s COMPARATIVE ADVANTAGE
WHY INVEST?
OPPORTUNITIES:
Communications Services
Business Processing Outsourcing (BPO)
Telecommunication Services
Computer and Information Services
Consultancy Services: Installation of computer hardware
Software Implementation Services
Data Processing Services
Database Services: Data Warehousing
Other Services
Online Education: Training and e-learning
Hardware Retail
Maintenance: Computer assembly stores/services centers
Other ICT-Enable Services
INCENTIVES:
The following concessions are available to investors in the ICT Sector:
Utilities: The Government of Guyana will facilitate negotiations with the utility companies (Guyana Power & Light, Guyana Telephone & Telegraph Company and the Guyana Water Authority) for the timely supply of electricity, telecommunications and an adequate water supply to support employees.
Tax Holiday: The company will enjoy a full exemption from corporate taxes for a 10-year period, which will begin from the first year of commercial operation.
Licenses: The Government of Guyana will issue the Company with a VSAT license.: The VSAT License shall be utilized only for the Call Centre activities as described herein and no link outside the business activities of the Call Centre shall be permitted.
Full Waiver of import duties and taxes
Training Grant: The Government of Guyana will facilitate discussions with the appropriate international agencies for training grants for the Company.
Work permits: Government will provide work permits to specialist workers and trainers (up to 10% of total employees) who have to be hired from abroad once they satisfy the criteria for the granting of such status. The company must however put in place a programmer to train local labour to undertake specialized jobs.
Incentives are subject to change.
Supported by stable macroeconomic policies, attractive investment incentives, and a regulatory environment and corporate tax regime that do not discriminate against foreign investors, Guyana provides investors with an exciting and comfortable investment atmosphere.
With recent oil discoveries, Guyana’s gross recoverable resources is now estimated at more than 9.0 billion barrels, making it one of the most significant global finds in recent years.
| Official name | Co-operative Republic of Guyana | |
| Country area | 214,970 km2 | |
| Capital city | Georgetown | |
| Population | 743,700 | 2019 estimates |
| Administrative regions | 10 | |
| Local currency | Guyanese Dollar GYD | |
| Exchange rate | USD $1 - GYD$208.711 | |
| Official language | English | |
| Other national language | Guyanese Creole (Dialect) | |
| GDP per capita | $17,359 | 2021 |
| GDP per captia (nominal) | $8,649 | 2021 |
