Guyana

Employer of Record (EOR) in Guyana

Only 399 EUR per employee per month

Rivermate's Employer of Record (EOR) solution helps companies hire remote employees in Guyana . We take care of global payroll, taxes, benefits, compliance and HR activities. So you can focus on growing your business. Our Employer of Record (EOR) solution is beneficial to companies that want to hire remote employees in a breeze. On this page you will find employment information for Guyana.

Employer of Record people
A coin
Currency
Guyanese Dollar
A pin
Capital
Georgetown
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Region
Americas
Megaphone
Language
English
Hire remote employees
Population
786552
A pile of gold
GDP
$3.62 billion
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GDP growth
0.0292
Business suitcase
Ease of doing business
55.5
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World GDP share
0

1. Grow your team in Guyana with Rivermate as your Employer of Record (EOR) / PEO

Payroll, benefits, taxes, and compliance can be difficult to manage in Guyana , particularly if you don't have established local relationships. You can hire employees in Guyana effectively, conveniently, and in full compliance with all relevant labor laws using Rivermate's global Employer of Record (EOR) solution. We handle the responsibilities and legal risks associated with foreign employment so you can concentrate on growing your company.

2. Summary

Guyana is a nation on South America's northern continent. Guyana translates as "Land of Many Waters." Georgetown is the capital city. Guyana is bounded to the north by the Atlantic Ocean, to the south and southwest by Brazil, to the west by Venezuela, and to the east by Suriname. Guyana is the third-smallest sovereign state by area in mainland South America after Uruguay and Suriname, and the second-least populous sovereign state in South America after Suriname; it is also one of the world's least densely inhabited nations. It features a diverse range of natural ecosystems and a high level of biodiversity.

The area known as "the Guianas" comprises the huge shield landmass known as the "land of many waters" north of the Amazon River and east of the Orinoco River. Guyana is home to nine indigenous tribes: the Wai Wai, Macushi, Patamona, Lokono, Kalina, Wapishana, Pemon, Akawaio, and Warao. Guyana was colonized by the Dutch before falling under British authority in the late 18th century and was historically controlled by the Lokono and Kalina tribes. Until the 1950s, it was administered as British Guiana, with a mostly plantation-based economy. It won independence in 1966 and was admitted to the Commonwealth of Nations as a republic in 1970. The country's governmental administration and diversified population, which includes Indians, Africans, Amerindians, Chinese, Portuguese, other Europeans, and numerous mixed groups, reflect the heritage of British control. In 2017, 41 percent of Guyana's population lived below the poverty level.

Guyana is the only country in South America where English is the official language. The bulk of the population, however, speaks Guyanese Creole, an English-based creole language, as their primary tongue. Guyana is a country in the Anglophone Caribbean. It is part of the continental Caribbean area and maintains significant cultural, historical, and political links with other Caribbean nations, as well as acting as the Caribbean Community's headquarters (CARICOM). The nation became a founding member of the Union of South American Nations in 2008.

Hiring talented employees in a short span is not an easy task. Partnering with an Employer of Record (EOR) like Rivermate in Guyana is your best option, giving your organization enough time to focus on other aspects of international expansions like project management and inventory management. The EOR takes care of all the compliance and legal issues while helping you speed up hiring using their knowledge of domestic employment practices and virtual onboarding tools. Top EORs also have provisions for the e-signing of documents to enable faster onboarding.

3. Public holidays

4. Types of leave

There is no information about the types of leave for this country.

Paid time off

For each month of service, employees who are paid weekly, biweekly, or monthly earn one day of paid leave. Employees who are paid on a daily basis are entitled to one day of paid vacation for every 20 days worked. Employees who are paid on an hourly basis are entitled to one paid day off for every 160 hours worked.

Public holidays

Every Sunday

New Year’s Day

Republic Day

Good Friday

Easter Monday

Labor Day

Arrival Day

Independence Day

Caricom Day

Eid-Ul-Adha

Emancipation Day

Youman Nabi

Deepavali

Christmas Day

Boxing Day

Sick days

Employees are not entitled to paid sick leave, although they are eligible for social security payments in Guyana. After the third day of sickness, eligible employees earn 70% of their typical weekly income for up to 26 weeks. Employees must have been employed immediately previous to getting ill, have made at least 50 contributions, and have made at least eight contributions in the 13 weeks before to falling ill to be eligible.

Maternity leave

Employees in Guyana are entitled to 13 weeks of maternity leave, which is paid weekly or biweekly under the country's social security system. In extreme circumstances, an additional thirteen weeks may be granted, up to a total of 26 weeks. If a female employee or her spouse makes at least 15 and seven contributions in the 26 weeks leading up to her maternity leave, she is eligible for maternity benefits.

Starting nine contributing weeks before the projected departure date, female employees have a four-week opportunity to file a claim for maternity benefits. For persons who live in rural places, the period might be prolonged. A individual who fails to file a claim for benefits within the specified time period is ineligible to receive benefits.

Paternity leave

There is no statutory paternity leave in Guyana.

Parental leave

Other than the already mentioned terms regarding maternity leave in Guyana, there are no other provisions in the law regarding parental leave.

Other leave

5. Employment termination

There is no information about employment information for this country.

Termination process

At the end of a fixed-term contract, an employment contract may be cancelled by mutual consent, by the employer, or by the employee. Employers are banned from terminating an employee's employment based on a legal leave of absence.

During the probationary phase, a company may terminate an employee without providing notice or paying severance. Probation cannot last more than three months. Additionally, an employee may be removed without notice or severance pay for serious misbehavior, defined as activity that is related to work and has a negative effect on the employer's business. Employers must offer notice in advance of ending an employment contract and pay severance to an employee who is not on probation.

Notice period

The length of the mandatory notice period is determined by the number of years an employee has worked for the company. If you've been working for less than a year, you'll get two weeks' notice. The notice period is one month for employees who have worked for a year or more. Employers may offer cash as a substitute for notice.

Probation period

The probation period cannot exceed three months.

Severance pay

Employers are required to pay severance to employees with at least one year of service and are terminated for reasons other than misconduct and after the probationary period has expired. Severance pay ranges from one to three weeks, depending on service length.

6. Working hours

There is no information about the working hours for this country.

General working schedule

The standard workweek consists of forty hours spread over six days. Employees work an average of eight hours per day and take a 60-minute break. However, working hours must be flexible to accommodate changing seasons (summer and winter hours) and work locations. Hours of operation may also vary by industry.

Overtime

Overtime is compensated at a rate of 1.5 times the regular rate. If certain public holidays are worked, overtime may be paid at double the standard rate. Each week, employees receive one day of rest and a half-day off on alternate Sundays. Additionally, employees who work overtime receive a 15-minute break every four hours.

7. Minimum wage

There is no information about the minimum wage for this country.

Guyana lacks a national minimum wage, but does have industry-specific minimum wages. Minimum wages, like working hours regulations, are determined by the difficulty and frequency of work. The Labor Act and the Wages Council Act specify any payment requirements for employees.

The process of establishing industry-specific minimum wages begins with a meeting between the Labor Minister and the Advisory Committee. This committee is made up of employees and employers who jointly propose a rate. The Minister will publish the ruling in the Official Gazette once the parties reach an agreement on a minimum wage.

8. Employee benefits

There is no information about the employee benefits for this country.

Employees' medical expenses are covered by the National Insurance scheme, so health insurance is not required by law. Private insurance, on the other hand, is available throughout the country. An employer may choose to provide additional private insurance to employees, but it is frequently expensive and inaccessible to the general public.

Any other additional benefits and bonuses will be outlined in collective agreements. While Guyana is a South American country, unlike many of its neighbors, it does not require a 13th-month bonus. An employer, on the other hand, may choose to provide one.

9. Taxes

There is no information about the taxes for this country.

Corporate tax

Companies in Guyana are imposed a corporate tax rate of 30 percent.

Individual income tax

Taxable persons in Guyana are subject to an income tax rate of either 28 percent and 40 percent. Generally, a taxable person who earns an annual salary less than $1,560,000 GYD is subject to a 28 percent income tax rate. A taxable person who earns beyond $1,560,000 GYD is imposed an income tax rate of 40 percent.

VAT, GST and sales tax

Guyana imposes a standard value-added tax rate of 14 percent and a reduced rate of 0.

10. VISA and work permits

There is no information about VISA and work permits for this country.

The Guyana visa policy governs the mobility of visitors. It determines who gets a visa and who does not. The Guyana visa policy is a collection of laws and regulations that regulate Guyana's immigration and travel policy.

Visas for Guyana must be sought in advance at the consulates of 161 countries. This condition is sometimes relaxed (for example, with visas). Obtaining a Guyana visa can make your planned trip to Guyana simpler. Aside from business and tourism, international citizens may seek a visa for Guyana for a variety of purposes.

Visas are available in Guyana for both multiple and single entry. Bolivians and UAE nationals may acquire visas on arrival. Those who need a visa for admission into Guyana but are unable to secure one via their home country's diplomatic office (or through any Guyana embassy overseas) may now receive one upon exiting the nation.

Diplomatic and official passport holders are free from paying visa costs. Visas in Guyana have three validity periods: one month, three months, and five years.

Tourist visas are provided to applicants who want to visit Guyana for the purpose of tourism and sightseeing. You may apply for a tourist visa in order to carry out your tourist activities in Guyana. For single entry, tourist visas to Guyana typically last one to three months. Certain nationals may be eligible for a one-year multiple-entry visa.

Guyana's visa policy is favorable to tourists. It requires rapid application and enables the bearer to remain for a short period of time. Some nations may enter Guyana without a visa. Others must apply for a visa to enter the nation.

11. Employer Of Record service terms

There is no information about the Employer of Record (EoR) service terms for this country.

Employment contracts

Employment contracts in Guyana may be written or verbal, although a formal contract is preferable. The contract should have the following clauses:

Work type,

Hours worked, overtime, and leave

Salary, bonuses, and any other perks

Payment frequency and method

Contract duration (if for a fixed term)

Any further conditions that both parties agree on

In Guyana, there are no particular rules that allow or limit background checks.

With Rivermate being your Employer of Record (EoR) in Guyana, you do not have to worry about the employment contracts, as we take care of that.

Minimum assignment length

There is no set length for assignments. This is usually indicated in the employment contract for fixed-term employments.

Payment currency

Guyanese Dollar (GYD)

United States Dollar (USD)

13.Opening a subsidiary in Guyana

There is no information about the working hours for this country.

How to set up a subsidiary

While Guyana has many business kinds available, most overseas investors choose a limited liability corporation. There is no minimum share capital requirement for this sort of business, but it must have at least one director and two shareholders.

Reserving your business name with the Companies Registry is the first step in the subsidiary registration procedure. You'll also need to have an attorney to sign a statement of conformity. This document indicates that you and your board of directors have met all of the standards stipulated in the Companies Act.

You may register your firm with the Registrar of Companies after you get an official statement. You must give the following information for this step:

1. Declaration of conformity

2. Incorporation articles

3. Evidence of a registered office

4. Directors' and the secretary's agreement

You may register with all essential authorities, including the Revenue Authority and the National Insurance Scheme, after you have obtained your registration from the Registrar of Companies (NIS). This stage guarantees that you have a tax ID and the capacity to contribute to social security as an employer.

Subsidiary laws

Your board of directors and articles of incorporation are the two most important parts of subsidiary ownership. You should have these information worked out before you begin the registration procedure.

A minimum of one director is required for a limited liability business. This director does not have to be a Guyana resident, and they may be one of your shareholders if you wish. Once your director or board of directors is in place, you must draft your articles of incorporation.

This formal document must detail your company's bylaws, or how it will run. These rules govern how you elect directors and handle your funds. You will submit this paperwork to the Registrar of Companies, who will then publish a certificate of incorporation in the Official Gazette.

13. Why choose Rivermate as your Employer of Record / PEO in Guyana

Establishing an entity in Guyana to hire a team takes time, money, and effort. The labor law in Guyana has strong worker employment protection, requiring great attention to details and a thorough awareness of local best practices. Rivermate makes expanding into Guyana simple and effortless. We can assist you with hiring your preferred talent, managing HR and payroll, and ensuring compliance with local legislation without the hassle of establishing a foreign branch office or subsidiary. Our PEO and Global Employer of Record (EOR) solutions in Guyana give you peace of mind so you can focus on running your business. Please contact us if you'd like to learn more about how Rivermate can help you hire employees in Guyana via our Employer of Record (EOR) / PEO solution.

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