Code of Economic Activities

The government devised two legal instruments to govern economic activities in the Republic of Guinea.

The first part of the first Act addresses the legal framework of economic activities and the second part deals with property liquidation and receivership.

Pursuant to these laws, the following persons can freely undertake economic activities: any individual having attained the age of 18, any emancipated minor deemed having reached full age, any married woman (the husband having no right to object to), any alien to the extent that any Guinean national has the right to conduct business in the country of which the foreigner is a national.

An alien engaged in economic activities in Guinea has the same rights and is subject to the same obligations as Guineans, provided however he complies with regulations on the entry and stay of foreigners in the Republic of Guinea.

Carrying out economic activities in Guinea requires meeting some general obligations including the following in particular:

  1. Registering as a company in the Book of Economic Activities
  2. Book-keeping in accordance with provisions laid down in the Guinean General Accounting Plan approved by Ordinance N-038/PRG/SGG/88 dated 1st September, 1998.
  3. Complying with tax return and payment obligations established by laws and texts in force.
  4. Keeping a general journal and a balance book according to principles outlined in the Guinean General Accounting Plan and in the Code of Economic Activities.

The second Act referenced L/94/020/CTRN dated July 8, 1994 deals with means released for carrying out the economic activity. It defines the financial resources and determines essential elements, the statutory system and specific operations (sale of participations, contribution to company capital, lease-management, lien, etc.)

The Law also lays down provisions relative to the lease of activity rights and to patent rights.

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