Since ExxonMobil’s discovery of vast offshore oil reserves in 2015, Guyana has transformed from an overlooked agricultural economy into one of the fastest-growing nations globally, with GDP expanding by double digits each year.
For expats, this boom has opened a once-closed market to one now brimming with investment opportunities in oil services, construction, logistics, real estate, and professional services.
This article provides a detailed look at expat investment advice in Guyana, from how to navigate investments to buying property and managing taxes, bank accounts, and residency.
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The information in this article is for general guidance only. It does not constitute financial, legal, or tax advice, and is not a recommendation or solicitation to invest. Some facts may have changed since the time of writing.
Investing in Guyana
Guyana’s economy is currently defined by its oil-driven transformation. Production from the Stabroek Block operated by ExxonMobil and its partners has positioned Guyana as one of the top oil producers per capita worldwide.
Key features of Guyana’s investment environment include:
- Open investment framework: The Investment Act of 2004 guarantees equal treatment for foreign and local investors, protection from expropriation, and full repatriation of profits and capital after tax. No prior government approval is required for most investments, except in sectors like natural resources and utilities.
- Strong growth trajectory: Guyana’s GDP growth has consistently high annually since 2019, driven by oil, construction, and financial services. Government projections suggest sustained expansion as new oil fields come online.
- Regional and global access: Guyana is a founding member of CARICOM, giving investors tariff-free access to a regional market of over 18 million people. Its location also provides a logistical bridge between Latin America and the Caribbean.
- Pro-investment incentives: Go-Invest administers tax holidays, duty-free concessions, and import exemptions for approved ventures in priority sectors such as manufacturing, tourism, information technology, and agro-processing.
- Stable political and legal structure: Despite historical instability, Guyana’s democratic institutions and English-based legal system offer familiarity for expatriates accustomed to Commonwealth law.
Still, investors must approach with realism. While oil money is transforming public finances, infrastructure remains underdeveloped.
Many transactions especially in real estate or banking can be slow, requiring persistence and local intermediaries.
Foreign exchange access, while officially liberalized, is often constrained by liquidity. The business culture is still relationship-driven, meaning success often depends on building trust with local partners and officials.
How to Invest in Guyana: Can Foreigners Invest Freely?
Yes. Guyana allows full foreign ownership in nearly all sectors, with few restrictions beyond areas tied to national security or state resources.
The Investment Act of 2004 explicitly guarantees equal treatment for foreign and local investors, protecting against expropriation and ensuring the right to repatriate profits, dividends, and capital once tax obligations are met.
Unlike many frontier economies, Guyana does not require prior government approval for most types of foreign investment though registration and licensing are still necessary for compliance and incentives.
Foreign investors typically operate under one of two structures: a local company incorporated under the Companies Act, or a branch of a foreign entity registered to do business in Guyana.
Incorporation through the Deeds and Commercial Registries Authority is relatively straightforward, though it requires a local registered address and a minimum of one resident director.
Many investors choose to partner with local service providers for administrative and tax compliance support.
Projects that align with national development goals such as agriculture, tourism, manufacturing, and energy can qualify for incentives such as:
- Tax holidays of up to 10 years for priority sectors.
- Exemption from import duties and VAT on approved machinery, building materials, and equipment.
- Accelerated depreciation and loss-carry-forward provisions under the Income Tax Act.
- Unrestricted repatriation of profits and capital through the formal banking system once documentary requirements are satisfied.
However, some industries remain subject to additional oversight or approvals:
- Natural resources (oil, mining, forestry): Licenses are issued through sector regulators such as the Guyana Geology and Mines Commission (GGMC) or the Ministry of Natural Resources.
- Telecommunications, utilities, and banking: Require separate sectoral permits and local representation.
- Land and agriculture projects: Often require leases or concessions from the Guyana Lands and Surveys Commission (GL&SC) rather than outright purchase.
Foreign investors must also be aware of local content requirements, particularly in oil-related services, where the Local Content Act (2021) mandates that certain categories of goods, services, and employment be sourced from Guyanese nationals or companies.
How to Open a Bank Account in Guyana
To open an account, most banks require:
- Valid passport and visa or work permit
- Proof of residential or business address (rental agreement or utility bill)
- Reference letter from an existing bank (preferably international)
- Source-of-funds documentation (employment contract, investment agreement, or incorporation papers)
Corporate accounts also require:
- Certificate of incorporation or business registration
- Company bylaws or partnership agreement
- Taxpayer Identification Number (TIN)
- Proof of ownership and directorship structure
Foreign investors and expatriates can open personal or corporate bank accounts in Guyana, but the process is meticulous due to strict anti–money laundering (AML) and know-your-customer (KYC) requirements.
The country’s financial sector is small yet stable, dominated by regional banks such as Republic Bank (Guyana) Limited, Demerara Bank, Guyana Bank for Trade and Industry (GBTI), and ScotiaBank.
Guyana Tax Rules for Expats and Foreign Investors
Guyana’s tax system is relatively straightforward but requires careful attention to residency status and source rules. The Guyana Revenue Authority (GRA) administers all national taxes, including income, corporate, and capital gains.
For foreign investors, understanding how these apply is essential to avoid compliance risks and unnecessary double taxation.
Tax liability in Guyana depends on whether an individual or company is considered resident.
- Resident individuals (those who spend more than 183 days in a year in Guyana) are taxed on worldwide income.
- Non-residents are taxed only on Guyana-sourced income, such as employment earnings, rental income, or profits from local business operations.
Companies incorporated or managed from Guyana are regarded as resident and taxed on global income. Foreign branches are taxed only on income earned within Guyana.
Guyana Personal Income Tax
Employees are subject to Pay-As-You-Earn (PAYE) deductions at progressive rates:
- 25% on income up to GYD 2,400,000 per year
- 35% on income exceeding that threshold
Social security contributions under the National Insurance Scheme (NIS) are mandatory for all employees, including foreign nationals, unless exempted under a bilateral agreement. The NIS contribution rate is 13%, split between employer and employee.
Corporate and Business Taxes in Guyana
Corporate tax rates vary by sector:
- 40% for commercial companies (banks, retail, telecoms)
- 25% for manufacturing and non-commercial companies
Incentives through Go-Invest can reduce or defer these rates for qualifying ventures. Companies are also subject to a 2% minimum tax on gross turnover, which acts as a floor for low-profit entities.
Capital Gains Tax in Guyana
Capital gains from the sale of property, shares, or other assets are taxed at 20% if the asset has been held for more than 12 months.
Gains on assets held for less than 12 months are treated as ordinary income and taxed at the normal rate. Property owners and investors must keep precise acquisition and improvement records to establish cost basis.
Withholding Taxes in Guyana
Payments to non-residents attract withholding taxes as follows:
- 20% on dividends, interest, royalties, and management fees
- 15% on technical or professional services
Rates may be reduced under a Double Taxation Agreement (DTA).
Guyana maintains DTAs with several countries, including Canada, the United Kingdom, and CARICOM members, allowing credit for taxes paid abroad and preventing double taxation on the same income.
Guyana Value-Added Tax and Indirect Taxes
Value-Added Tax (VAT) is levied at 14% on most goods and services. Investors importing machinery or materials for approved projects may receive VAT exemptions through Go-Invest.
For expats, practical tax compliance means securing a Taxpayer Identification Number (TIN) early, ensuring correct PAYE deductions, and maintaining documentation for any offshore income.
Corporate investors must file annual returns within six months of the fiscal year-end, supported by audited financial statements.
In summary, Guyana’s tax regime is predictable but documentation-heavy. Proper financial planning and wealth management especially around withholding and DTA relief is key to optimizing post-tax returns and avoiding administrative delays.
Can foreigners buy property in Guyana?
Foreigners can own property in Guyana, but the legal landscape distinguishes between freehold (private) and state lands, the latter comprising over 85% of national territory.
While private property can be purchased outright, state lands are generally leased through the Guyana Lands and Surveys Commission (GL&SC) for 25- to 99-year terms, renewable upon approval.
There are no constitutional restrictions preventing foreigners from buying freehold property.
However, foreign buyers should be prepared for longer due diligence periods and additional scrutiny from the Deeds Registry and the GL&SC. Engaging a local attorney and surveyor is strongly recommended to verify title, boundaries, and encumbrances.
Investors interested in large-scale agriculture, forestry, or development projects must lease land through the GL&SC. These leases often include performance clauses, specifying development milestones or environmental compliance. Transfer or subletting of leases usually requires government consent.
Property owners are subject to modest annual property taxes based on the assessed market value:
- 0.5% on net property value between GYD 40 million–60 million
- 0.75% on values above GYD 60 million
Rental income is taxable as ordinary income, with allowable deductions for maintenance and depreciation.
Real estate remains a practical entry point for foreign investors due to clear ownership rights and strong rental yields. However, liquidity is low, and sales can take months to finalize.
Additionally, foreign buyers should be mindful of title irregularities, unregistered subdivisions, and inheritance claims that can delay transactions.
Overall, property investment in Guyana offers high potential returns especially in urban and industrial zones but demands meticulous due diligence and reliable local legal representation.
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