Guinea-Bissau is a country located in West Africa, with a population of over 1.9 million people. The country has a growing economy and a favorable business environment, which makes it an attractive destination for investors. If you are considering starting a business in Guinea-Bissau, this article will guide you on how to register your business in the country.
Table of Contents
Step 1: Choose Your Business Structure
Before you can register your business in Guinea-Bissau, you need to decide on the structure of your business. The most common business structures in Guinea-Bissau are sole proprietorship, limited liability company (LLC), and partnership. Each business structure has its advantages and disadvantages, so it’s essential to choose the one that best suits your business needs.
Step 2: Register Your Business Name
After choosing your business structure, you need to register your business name with the Ministry of Justice. Your business name must be unique and not already registered with the government. You will need to provide a list of at least three names in order of preference, along with the name and address of the business owner.
Step 3: Obtain Your Tax Identification Number
In Guinea-Bissau, every business must have a tax identification number (TIN). You can obtain your TIN by registering with the Directorate-General of Taxes. To register, you will need to provide your business name, location, legal structure, and other relevant information.
Step 4: Obtain Your Business License
After obtaining your TIN, you will need to obtain your business license from the Ministry of Commerce, Industry, and Crafts. To obtain your license, you will need to provide proof of your business registration, tax identification number, and other relevant documents. The cost of the license varies depending on the type of business.
Step 5: Register for Social Security
As an employer in Guinea-Bissau, you are required to register for social security. You will need to register with the National Institute of Social Security (INSS) and provide information about your employees, including their names, addresses, and social security numbers.
Step 6: Open a Bank Account
Once you have obtained all the necessary licenses and registrations, you will need to open a bank account for your business. You will need to provide your business registration documents, tax identification number, and other relevant information to open a bank account.
Generis Global Can Help You with Your Business in Guinea-Bissau Starting a business in Guinea-Bissau can be challenging, especially if you are not familiar with the local laws and regulations. That is where Generis Global comes in. We are a professional services firm that specializes in helping businesses navigate the legal and regulatory environment in Guinea-Bissau.
We offer a range of services, including business registration, tax compliance, and legal advisory services, to help you start and grow your business in Guinea-Bissau. Contact us today to learn more about how we can help you with the legal part of your business journey in Guinea-Bissau.