The ISO code of Guyana is GY according to the ISO 3166 standard. The local name of the country is the same as its English name. Guyana capital city is Georgetown. People in Guyana speak the English language. On 26 May 1966, Guyana emerged as a sovereign political entity. In the year 05/26/1966, Guyana emerged as a sovereign political entity. The largest city in Guyana is Georgetown.
Guyana is located in the UTC -04:00 time zone, which is also called Guyana Time Zone or GYT. The internet country code top-level domain (ccTLD) for Guyana is .gy. The International dialing code for Guyana is 592. People in Guyana drive on the left side of the road. Total land area of Guyana is 214,969 km² (approx. 83,000 mi²). Guyana is not a landlocked country. It means that is is bordered by at least one major body of water.
Guyana is located in South America. Guyana is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life.
Currently Guyana faces various issues, including water pollution from sewage and agricultural and industrial chemicals, deforestation.
Doing business in Guyana
We offer various corporate services in Guyana jurisdiction. These services can serve both, people coming from Guyana and foreigners. If you plan on doing business in Guyana you might be interested in contacting us.
To find out about starting your business in Guyana click on company formation in Guyana.
To find out how to open a bank account in Guyana and moreover what type of account Confidus Solutions suggests to create, please click on bank account in Guyana.
Choose preferred service below or continue reading to find out more about Guyana.
Demographics of Guyana
The total population of Guyana is 782,225 people. In Guyana, the population density is 3.65 people per square kilometer (9 per square mile). Because of this statistic, this country is considered to be very sparsely. The ethnic diversity is rather diverse according to a fractionalization scale which for Guyana is 0.6195. Guyana has approximately 14770 foreign immigrants. The median age is approximately 25 years. In Guyana, 34.31 in every 100 people use internet. Guyana has a Human Development Index (HDI) of 0.638.
The majority religion of Guyana is Christianity, Guyana is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Click on a link to read more on demographics of Guyana.
Culture of Guyana
People in Guyana speak the English language. According to data on inbound tourists in Guyana, 200,000 tourists arrive in the country each year. One of the most popular national dishes of Guyana is pepperpot. To read more click on culture of Guyana.
Geography of Guyana
Guyana is considered to be a large nation because of its total area. Its total land area is 214,969 km² (approx. 83,000 mi²). Guyana is located in South America. Its capital city is Georgetown. Guyana has 3 neighbouring countries. Its neighbours include Brazil, Suriname, and Venezuela. Total length of land borders of Guyana is 2933 kilometers (~1,132 miles).
The highest point of Guyana is Mount Roraima, with its official height being 2750 m (9,023 ft). Including land mass and EEZ, the total area of Guyana is approximately 352,734 km² (~136,191 mi²). The most notable natural resources found in Guyana are bauxite, gold, diamonds, hardwood timber, shrimp, fish.To read more click on geography of Guyana.
Economy of Guyana
The currency of the country is Guyanese dollar. The symbol used for this currency is $, and it is abbreviated as GYD. 12.3% of population in the country are unemployed. The total number of unemployed people in Guyana is 96,214. Each year, Guyana exports around $1.34 billion and imports roughly $2.04 billion. The Gini Index of the country is 44.6. Guyana has a Human Development Index (HDI) of 0.638.The Global Peace Index (GPI) for Guyana is 2.029. Guyana has a government debt of 52.7% of the country's Gross Domestic Product (GDP), as assessed in 2011. Guyana is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Major industries in the country are bauxite, sugar, rice milling, timber, textiles, gold mining.
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Guyana is $5,534 billion. Each year, consumers spend around $1,674 million. The ratio of consumer spending to GDP in Guyana is 0%, and the ratio of consumer spending to the world consumer market is 0.0048. The corporate tax in Guyana is set at 30%. The maximum personal income tax is%.VAT in Guyana is 16%. In 2013, Guyana received 114.4 million USD in foreign aid.In 2014, the foreign aid amounted to 158.7 USD.To read more click on economy of Guyana.
Infrastructure of Guyana
Infrastructure quality in Guyana is rated to be at 2.4. It indicates a mediocre quality - roads, railroad, ports and other facilities are able to handle somewhat significant traffic, but not enough to ensure smooth transit at all times.
In Guyana, 79.5% of the population has access to electricity. There are 24,936 internet hosts in Guyana. Guyana has 117 airports nationwide.
The logistics performance index of Guyana is 2.46. It indicates a mediocre performance - shipping procedures are relatively unreliable, timeliness and safety of transferred goods are often a problem, although such a system may function relatively well if traffic is no too dense.
Tracking possibilities for shipments are rated at 2.47. It indicates a mediocre performance - the tracking systems provide some degree of information which usually includes the most necessary topics, such as the current location of a shipment, the dates of arrival and departure and the status of a shipment; still, more detailed information about the status and multi-language accessibility options are usually lacking.
The number of road motor vehicles per 1000 inhabitants in Guyana is 77. To read more click on infrastructure of Guyana.
Politics of Guyana
Guyana, is a unitary semi-presidential republic. With regard to political and civil freedoms, Guyana is 1. Citizens in Guyana experience total freedom. The majority of countries in which citizens enjoy expansive civil liberties and political freedoms are representative democracies, in which officials are directly elected by citizens to advocate for their needs and desires. Free countries are often bolstered by healthy economies and high-functioning governments. The head of the government is David Granger.
According to the World Bank Group, the government effectiveness index of Guyana is -0.22. This indicates that the government of Guyana is mediocre. While some public and civil services are limited, in other cases they can be considered adequate or even effective. Potential investors should carefully evaluate the governmental situation in Guyana before considering any business maneuvers.In Guyana, the legislative power is vested in a National Assembly. The Global Peace Index (GPI) for Guyana is 2.029. The strength of legal rights index for Guyana is 3. Overall, it is considered to be rather inadequate - bankruptcy and collateral laws are able to protect the rights of borrowers and lenders to some degree; credit information may be sufficient, but hardly available, or, the oppoiste case, available but not sufficient. In 2013, Guyana received 114.4 million USD in foreign aid. In 2014, the foreign aid amounted to 158.7 USD. Guyana is a member of the United Nations (UN). On 20 September 1966, it joined the UN as a full member state. Guyana is a member of the World Bank. To read more click on politics of Guyana.
Environment of Guyana
Guyana emits 2.4 metric tons per capita of CO2. 151040 km² of Guyana's territory is covered in forests. and forest land comprises 70% of all the land in the country. The number of road motor vehicles per 1000 inhabitants in Guyana is 77. To read more click on environment of Guyana.
Company formation in Guyana
The development of telecommunications and economic globalization has made it possible for interested investors to form companies around the world. With proper research, financial investments, and legal backing, business ventures can safely be established in Guyana.
When establishing a company in Guyana, an interested investor must do due diligence with regard to legal processes, international regulations, and sufficient investment for success. It is critical to understand cultural, social, and political factors of Guyana that will affect the establishment and growth of one's business. Contact us or click on company formation in Guyana to read additional information when setting up a business.
Bank account opening in Guyana
With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Guyana. This opportunity for international accounts and investments offers several advantages based on economic regulations and tax structures. Interest rates and fees vary depending on your interests.
When considering opening a bank account in Guyana, one must enlist the help of international experts to guide them through the process. To find out more about our banking services click on bank account in Guyana or contact us.