With its growing economy, untouched natural landscapes, and English-speaking population, Guyana is quickly emerging as a hidden gem for expats seeking new opportunities in South America.
In this guide, we’ll walk you through everything you need to know about relocating to Guyana from a personal tax perspective, including tax residency, income tax, special tax regimes and tax return obligations.
TaxPilot recommend that you organize your affairs in good time to get ahead and make the most of favorable tax treatment while making sure you’re meeting your tax return obligations.
Guyana follows a residence taxation model. If you are resident, you will pay tax worldwide incomes. If you are non-resident, you will pay tax on local incomes only.
if you are present in Guyana on more than 183 days during any 12 month period.
if you habitually reside in Guyana.
Providing that you are considered a temporary resident, foreign income will not be subject to taxation in Guyana. Guyana can be a very tax efficient place to live in and as such, Global Tax Consulting recommends seeking personalized tax planning advice to take advantage of the special tax regime.
Exempt from Guyana taxation.
Must be temporary resident.
Tax on property and share sales
Tax on value of owned assets
Tax on assets passed to heirs
Tax to contribute to state welfare
If you receive incomes overseas while you are living in Guyana, you may find the source country, as a starting point, continues to tax the income which may cause double taxation unless you are using special tax regime.
Double taxation agreements can be used to mitigate double taxation and receive tax free income. As such, the more double taxation agreements a country has, the better, as agreements will ensure you’re not taxed twice and even better, ensure your income is tax free.
At present, Guyana has 13 double taxation agreements signed.
