Step 1: Choose your business structure
In Guyana, you can operate as a sole proprietorship (business name), partnership, or limited liability company. A sole proprietorship is simplest but offers no personal liability protection. A limited company provides legal separation but has more filing requirements.
Step 2: Register your business name
For sole proprietorships and partnerships, you register a business name with the Deeds & Commercial Registry Authority. For companies, you incorporate by filing articles of incorporation. A name search is required first to ensure availability.
Step 3: Get your TIN
Every business needs a Taxpayer Identification Number from GRA. Apply using your business registration certificate and owner details. A TIN is required for tax filing, bank accounts, and most government transactions.
Step 4: Register for VAT (if applicable)
If your annual turnover exceeds GYD $10 million, you must register for VAT. VAT-registered businesses charge 14% on sales and can reclaim VAT on business purchases.
Step 5: Register with NIS
As an employer, you must register with the National Insurance Scheme within 14 days of hiring your first employee. NIS contributions are 12.8% of insurable earnings (7.2% employer, 5.6% employee).
Step 6: Get compliant
You'll need both NIS and GRA compliance certificates for most business operations — tenders, licences, and financing. BizHub GY can handle steps 3-6 for you.