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.