Employer of Record in Guyana
Skuad’s Guyana Employer of Record (EOR) solution helps your business expand without the need for an entity setup. Guyana has many intricate labor and employment laws that require careful interpretation. Our unified and automated global human resource (HR) platform enables you to expedite the onboarding of your remote team, manage their payroll, benefits, taxation, probation, and termination in compliance with the local laws. In addition, we help you streamline the global expansion process with the able assistance of our international network of experts from over 150 countries. Book a demo with Skuad to kick-start your expansion into Guyana.
Guyana at a Glance
Population: 7.8 million people (2019 estimate)
Currency: Guyanese dollar (GYD)
Capital city: Georgetown
Language spoken: English
Gross Domestic Product (GDP): USD 6.806 billion (2020)
Employment in Guyana
Guyana labor laws apply both to foreign nationals and Guyanese citizens. However, there are some differences in their entitlements. To set up a local entity in Guyana, a company must be aware of all aspects of Guyana’s employment regulations. To minimize or mitigate the challenge for companies looking to set up a local office, it is advisable to partner with a payroll provider that is well aware of the Guyana labor laws for local and foreign workers.
To learn more about Guyana’s employment policies to ensure your expansion efforts fall within the legal requirements, book a demo with Skuad experts today. We can meet all your HR needs while complying with the local laws.
Contractors vs. Full-time Employees
A full-time employee works for you and is under your payroll, through which they get a fixed monthly salary and various benefits. A full-time employee signs a contract with you and is prohibited from working for another company. In the case of terminating a full-time employee, a termination notice must be given.
A contractor is an independent worker who works with your company for a limited period. A contractor gets the payment that is agreed upon and does not enjoy other benefits that a full-time employee enjoys.
When looking for someone to help you with the project immediately, hiring a contractor is the best option. However, when looking to hire someone for a long-term project, it is better to hire a full-time employee.
Skuad is a global HR platform that companies can use to hire exceptional remote talent as contractors and full-time employees. Skuad will take care of your onboarding, payroll, compliances, and benefits while managing compliance with the local laws. Book a demo with Skuad experts to learn more.
Hiring in Guyana
Hiring in Guyana starts with the employment contract. Although Guyana’s employment laws allow oral and written agreements, it is best to go with a written contract. An employment contract in Guyana should mention the following details.
- The post/job profile
- The hourly wages
- The working hours
- The grounds for dismissal from work
Once the employment contract has been signed by both parties, the employer needs to register them in the National Insurance Scheme (NIS) with the employee’s tax information.
Some of the best job portals to hire employees in Guyana are as follows.
- JobsIsland.com: A website that allows the hiring companies in Guyana to upload their job requirement and filter the best candidate.
- GuyanaWorx: A website that allows the candidate to filter their searches and give the result they are looking for.
Skuad’s EOR solution for Guyana can take care of all your hiring needs, such as finding, recruiting, and onboarding suitable talent for your organization. Talk to Skuad experts to learn more.
Probation & Termination
The standard probation period in Guyana is three months unless the parties involved agree to a different duration. In Guyana, both parties hold the right to terminate the contract without notice during the probation period.
Termination of Service
An employment contract is terminated upon its expiry, by mutual agreement between the employer and employee, or due to redundancy. The employer may terminate the employment agreement in Guyana without notice if serious misconduct affects the organization’s employees and the business.
If the employee is in probation period, the employment contract law in Guyana states that the employer can initiate the termination of the employment without notice or any severance pay.
- If the employee has been employed for less than one year, the notice period is two weeks.
- The notice period for employees working for the organization for more than a year is one month.
Book a demo with Skuad to learn more about the probation and termination services in Guyana.
EOR Solution in Guyana
The Employers of Record (EOR) model is a smart solution for companies seeking to enter and expand in Guyana fast and agilely. With the help of Skuad's Employer of Record solution, business entities abroad can quickly source and hire the right professionals as per the organization's requirements. Hired employees get onboard seamlessly, helping your business save up a huge percentage of hiring and onboarding costs. Skuad’s End-to-end solutions help manage employment contracts, process payroll and income tax, blend statutory benefits, and manage overall administration of the backend HR processes. Our platform works as a unified employment platform with automated workflows, digital signatures, employee payroll, contractor payout, and all types of compliance solutions. Book a demo today
Outsourcing Employment through an Employer of Record
When you decide to expand into Guyana as an organization, you also need to decide the route you want to take. This concerns whether you want to build an in-house HR team or partner with an EOR firm to manage payroll and employee lifecycle. Many businesses choose to outsource their payroll through services such as Skuad to hire employees in a new country.
Often, interpreting the local laws, ensuring compliance, communicating with authorities in the local language, and playing within the boundaries of the country’s culture is not easy. Skuad’s integrated, tech-enabled HR platform and expertise in providing HR assistance in more than 150 countries is the answer to your expansion goals.
We can offer bespoke EOR solutions for all your expansion needs in Guyana. To avail yourself of our services, speak to Skuad experts today.
Types of Visas in Guyana
The different types of visas in Guyana are as follows.
- Tourist visa (valid for 30 days but can be extended to 90 days)
- Student visa (valid for three years)
- Business visa (valid for five years)
- Employment visa (valid for three years)
Get in touch with us for more information on the types of visas and work visa requirements in Guyana. Skuad can handle all your visa requirements and ensure your expansion plans are not delayed.
Skuad’s local partner in Guyana can sponsor foreign workers’ work permits. As an EOR service in Guyana, Skuad takes care of all the requirements and responsibilities related to employment. On Skuad’s HR platform, the client company can manage their employees’ daily activities and operations. Book a demo with Skuad experts for tailor-made EOR solutions for Guyana.
Connect with Skuad experts to know more about work permits for expanding into Guyana.
Payroll & Taxes in Guyana
Things You Must Know to Set Up Payroll in Guyana
To set up payroll in Guyana, you need to be aware of the rules that vary from one category to another. First, you must consider whether you want to employ foreign professionals or locals. As a foreign company, you must be aware and adhere to the local tax laws like income tax, business tax, withholding tax, employee compensation insurance, and social security costs.
There are two ways of setting up payroll in Guyana.
- You can set up an in-house team to manage the payroll in Guyana.
- You can enlist the services of a payroll specialist such as Skuad to manage your payroll.
Skuad’s tailor-made Guyana EOR solution will not only make payroll creation and management simpler but also ensure complete compliance with the Guyanese employment laws
Taxes in Guyana
To manage your taxes while expanding to Guyana, it is prudent to partner with an EOR service. Skuad’s Guyana EOR solution can take care of all HR-related tasks for you while ensuring compliance with the local laws, including those on taxation and payroll. To learn more, get in touch with Skuad experts.
Incorporation: How to Set Up a Subsidiary in Guyana
There are four entities to choose from to establish a company in Guyana.
1. Sole Proprietorship
A sole proprietor holds full responsibility for the assets and debts.
Unlike a sole proprietorship, the responsibilities of assets and debts are spread across the partners.
3. Private Limited Liability Company (PLLC/LLC)
An LLC can be a foreign-owned company with a minimum of two to a maximum of 20 shareholders. It is mandatory for the LLC to have at least one director and any of the shareholders can be the director. It is one of the best choices to set up a company by a foreign company in Guyana.
4. Public Liability Company (PLC)
The ownership of a PLC is divided into shares that are publicly traded on the stock exchange. A PLC requires at least two directors.
Setting up an LLC in Guyana
The following steps must be completed to set up an LLC in Guyana.
- Choose the name of the company
- Acquire the duly filled and signed declaration of compliance.
- Register the company in Guyana
- Apply for TIN and VAT.
- Apply for Social Security.
- Create a company seal.
Talk to Skuad experts to know more about setting up an LLC or another type of subsidiary in Guyana.
Professional Employer Organization (PEO)
A professional employer organization (PEO) serves as the co-employer of your organization and is utilized by the entire workforce. A PEO works best for an organization that has registered in every country or state where its employees exist. It shares the HR responsibilities and liabilities of an organization and can take over the entire range of HR functions. A PEO also provides services for a minimum of five to 10 employees. However, since it is not the legal employer, it is not liable for any compliance-related issues your organization might face.
An EOR organization serves as a legal employer and assumes all the responsibilities and liabilities of an organization. An EOR service allows companies to set up an office in a new state or country without setting up a legal entity. It takes over a portion of the HR functions and can be used for a partial workforce, especially for a portion of employees in a different country. It provides services for a minimum of one to five employees. An EOR service handles compensation of the employees and unemployment claims.
Skuad is a top tier EOR solution platformis one of the leading EOR and PEO service providers that handleshandle the HR-related responsibilities for companies looking to expand their business.