Tentmaker Reports

Guinea Report

Entrepreneurial Missions Index

37.5

General Information

Population

9,761,217 (83rd most populous country in the world)

RELIGIONS
Muslim85%
Christian8%
Indigenous7%
LANGUAGES
French

Industries

Bauxite, gold, diamonds, iron, alumina refining, light manufacturing and agricultural processing

Unless otherwise noted, all information included here was obtained from the World Factbook project 4, conducted by the Central Intelligence Agency (CIA). For more detailed information about Guinea, visit https://www.cia.gov/library/publications/the-world-factbook/geos/gn.html.

Business Information

The World Bank ranks Guinea as 178 out of 183 economies in terms of ease of doing business. The country ranks as 181 (of 183) in terms of ease of starting a business.

It requires 0 procedures, takes 0 days, and costs N/A% of income per capita to start a business in Guinea.

In order to start a business in Guinea, one must follow these procedures:

  1. Deposit the legally required initial capital in a bank and obtain deposit evidence
  2. Obtain police clearance record for the first directors
  3. Check the uniqueness of the company name at the Clerk’s Office in charge of company registration
  4. Obtain photocopies of identity papers and photos of founders and managers
  5. Pay the registration tax at the Tax Bureau (Direction Nationale des Impots)
  6. Deposit the company deeds and Articles of Association with the notary
  7. Pay stamp duty (Droit de Timbre) at the DNI
  8. Registration with the Commercial Registry (RCCM) at the Clerk’s Office of the local court
  9. Notice to be published in the newspaper of the Official Gazette
  10. Apply for tax identification number and pay the patente with the Tax Bureau (Direction nationale des Impots)
  11. Array
  12. Registration for Social Security with the Caisse Nationale de la Securite Sociale
  13. Make a company seal

Unless otherwise noted, all information included here was obtained from the Doing Business project 3, conducted by the World Bank. For more detailed information about starting a business in Guinea, visit http://www.doingbusiness.org/.

 

 

Guinea Economic Freedom

The annual survey Economic Freedom of the World is an indicator produced by the Fraser Institute, a libertarian think tank which attempts to measure the degree of economic freedom in the world's nations. Economic Freedom of the World index has been more widely used than any other measure of economic freedom, because of its coverage of a longer time period

Their measure of economic freedom is based on that the following standards:

  • Personal choice rather than collective choice,
  • Voluntary exchange coordinated by markets rather than allocation via the political process,
  • Freedom to enter and compete in markets, and
  • Protection of persons and their property from aggression by others.

A state will rate high when it focuses on protection of people and their property from the actions of aggressors, enforcement of contracts, and provision of the limited set of public goods like roads, flood control projects, and money of stable value and little else, but a country’s rating on the EFW summary index will fall as government expenditures increase and regulations expand.   

 

Guinea Summary

 

1 World Economic Forum

2 Free the World
Gwartney, James and Robert Lawson with Herbert Grubel, Jakob de Haan, Jan-Egbert Sturm, and Eelco Zandberg (2009). Economic Freedom of the World: 2009 Annual Report. Vancouver, BC: The Fraser Institute. Data retrieved from www.freetheworld.com.

3 World Bank Data

4 World Factbook Project

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