Company Formation in Guinea

Guinea is a good destination to set-up your company to cater to the fast growing African market with a large population. YourGlobalPro can assist in Guinea for Company Formation, Secretarial Compliance, Tax Registration, VAT Reclaim, Document Retrieval and Trademark Registration.

About the Country

The Republic of Guinea (Guinea) is a country on the West coast of Africa. Formerly known as French Guinea (French: Guinée française), the modern country is sometimes referred to as Guinea-Conakry in order to distinguish it from other parts of the wider region of the same name, such as Guinea-Bissau and Equatorial Guinea. The below content will explain you in detail about the requirements for the company formation in Guinea, know more about the process of trademark registration in Guinea and understand the Guinea Legal and Compliance requirements.


Doing Business Introduction

Guinea economy is largely dependent on agriculture and mineral production. Guinea possesses over 25 billion metric tons of bauxite and perhaps up to one-half of the world’s reserves. In addition, Guinea’s mineral wealth includes more than 4-billion metric tons of high-grade iron ore, significant diamond and gold deposits, and undetermined quantities of uranium. As per Doing Business Report of The World Bank, Guinea has as an overall ranking of 163 for 2017 in terms of ease in doing business.

YourGlobalPro professionals can assist client with any type of company formation in Guinea, trademark registration in Guinea and other recurring services for your business in Guinea

Incorporation - Types of Business Entities

The Government of Guinea makes it possible for residents or foreign individuals or clients to set up business in Guinea in one of the following ways:

  • Limited Liability Company (SARL)
  • Public Limited Company (SA)
  • Branch of Foreign Companies (Succursale)
  • Foreign Representative Offices (Bureau de Representation)

Time Frame for Incorporation of Company in Guinea varies from depending on the type of entity selected and each business type has its own advantages and disadvantages. YourGlobalPro professionals estimate the time required for the process of Company formation to be completed is 9-12 working days.

Benefits of Registration of a Company

Below are the advantages of company formation in Guinea:

·       Fast and ease in processing for company incorporation since the Guinean government has established the Agency for Promotion of Private Investment (APIP). Investors can now register their companies with different governmental departments, including tax and social security registration, at one station.

·       The country is rich in mineral and natural resources with extensive untapped deposits of iron ore. The country is the 5th largest producer of Bauxite aluminum ore in the world.

·       The country is a member of Extractive Industries Transparency, an organization that seeks to promote transparency within oil, has and mining companies in developing countries globally.

·       Guinea’s water system can be beneficial for investors in the production of hydroelectric power in West Africa. The country has at least 1,165 rivers with a potential of guaranteed hydro electrical energy output sufficient to power the entire West Africa region.

Tax Registration and Filing

Guinean companies are taxed on the territoriality principle. As a result, Guinean companies carrying on a trade or business outside Guinea are not taxed in Guinea on the related profits.

Corporate Income Tax Rate General - 35% Mining Companies - 30%
Annual Minimum Tax Payable 2% of annual turnover
Capital Gains Tax 35%
Capital Gains on Transfers of Shares 10%
Branch Profits Tax Rate 35%
Branch Remittance Tax 10%
Value Added Tax 18%
Dividends and Directoru2019s Fees 10%
Interest 10%
Royalties 15%
Payment for Services 15%
Rent 15%
Technical Services 15%
Management Services 15%
Financial Services 5-13%
Insurance Services 5-20%
Gambling Gains 15%
Foreign Tax Credits Not Allowed
Fiscal Year 1 January to 31 December
Filing Tax Returns By 30 April
Annual Minimum Tax Payment Before 15 January
Advance Tax Payments To pay by 15 June (1/3rd) and 15 September (1/3rd)

Double Tax Treaty

Double Tax Agreements (DTA) regulates the tax treatment of income or capital gains in situations where the same taxpayer is taxed twice in two countries for the same subject. Guinea has concluded DTA with France and the United Arab Emirates.

Trademark registration

The trademark registration in Guinea will be processed through Organisation Africaine de la Propriété Intellectuelle (OAPI) Treaty.  The trademark in OAPI is valid for ten years from the date of filing. This term is renewable an unlimited number of times for 10-year periods. The exclusive right to the trademark registration in Guinea in OAPI can be declared as an extinguished if the trademark is not used for five consecutive years after its registration.

YourGlobalPro professionals are fully equipped to assist you with the process of trademark registration in Guinea for your business. For assistance or advice in the matter of the trademark registration or intellectual property – please feel free to write or contact us.

Secretarial Compliance

Below are some of the important points in relation to Company Secretarial Compliance in Guinea:

  • Business founders must notify AGUIPE (Agence Guinéenne pour la Promotion de l’ Emploi) about their company’s formation.
  • Branches of foreign entities must register with the Trade and Personal Property Credit Register and get an approval from the Ministry of Trade.
  • Proper minutes books and records for the Company must be maintained
  • Proper book of accounting records needs to be maintained

Accounting Services

Guinea’s accounting system is based on its national Generally Accepted Accounting Principles (GAAP). by a system which follows the IFRS. Financials must be prepared using the Organisation for the Harmonisation of business law in Africa (OHADA)

YourGlobalPro professionals can assist you with the entire bookkeeping and accounting services for your Guinea Business Setup as per your business needs including implementation of financial accounting software, accounting records preparation and time to time preparation of budgets, forecasts.

Auditing service

In Guinea, annual statutory audit is required for public limited companies. All types of business entities are required to prepare annual financial statements.

Based on the size of the business – the companies are required to prepare and file financial statements with the Authority. YourGlobalPro professionals provide you auditing services as required by your business in Guinea.


The documentation requirement needed to open a bank account in Guinea differs from bank to bank. The major banks in Banque Internationale pour le commerce et l’industrie de la Guinée (BICIGUI), the Societe Generale des Banques en Guinee (SGBG); the Banque Islamique de Guinee (BIG); the Unione Internationale des Banques en Guinee (UIBG); and the International Commercial Bank de Guinée (ICBG). All banks are stable, reliable and offer the same level of services.

YourGlobalPro professionals facilitate all the paper work in relation to banking need and can assist you in opening bank account for your business plan in Guinea.

Legal and Compliance

In Guinea, the responsibility of legal compliance is not a one-time affair, but a continuous process. Below is the various Guinea legal and compliance requirement to be followed by incorporated entities:

  • Limited liability companies and public limited companies require at least 1 shareholder and 1 director of any nationality who can be either an individual or corporate body.
  • A minimum share capital of GNF 100,000 is required for limited liability corporation.
  • A minimum share capital of GNF 100 million is required for public limited companies.
  • Branch of a foreign company and representative offices are not considered a separate legal entity from their parent company. These entities naturally abide by the laws of both Guinea and its country of origin.
  • Branches of foreign company must appoint at least 1 director of any nationality as representative of the company in Guinea.
  • Representative offices in Guinea are not allowed to engage in any commercial or profit making activities in Guinea.

YourGlobalPro professionals can assist you in Guinea Legal and compliance requirements.

HR and Employment Law and Immigration / VISA

Below are some of the important points in relation to HR & employment law in Guinea:

  • All promises of employment for 90 days or longer are required to be in writing regardless of the nature of the work and type of employment.
  • The maximum length of a fixed labor contracts is 2 years
  • The Company needs to offer 20%of hourly pay for overnight rate.
  • Paid annual leave is 30 days regardless of tenure.
  • Foreign nationals, even those classified as residents, must obtain visas to enter Guinea. Visas may be obtained from Guinean consulates and embassies abroad.
  • No visa authorizes an individual to work. A work permit authorized by the national employment and labor office (AGUIPE) must be obtained.
  • The request for an initial work permit is made by a letter from a prospective employer explaining the reasons why the applicant is being hired. When reviewing work and residence permit applications, the government of Guinea considers the benefit of an individual’s presence in the country and his or her anticipated compliance with the laws and regulations of Guinea.

Country Statistics

Capital Conakry
Largest City Conakry
Total Area 245,836 Sq. Km.
Population 8,746,128
Density 28.7 / Sq. Km.
Currency Guinean Franc (GNF)
Government Presidential Republic
Official Language French
Religion Muslim: 85% Christian: 8% Other: 7%
Government Office Hours Mon-Fri: (0800-2000 Hrs)
Business Office Hours Mon-Thurs: (0800-1630 Hrs) Fri: (0800-1300 Hrs)
Banks and Exchange Houses Office Hours Mon-Fri: (0800-1630 Hrs)

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