How to start a business in Guinea-Bissau as a foreigner (2026)

The Investment Code (Decree-Law No. 03/2009) guarantees that foreign and domestic investors enjoy equal treatment before the State and all its institutions. 100% foreign capital is permitted; no general equity caps apply across most sectors.

The Centre de Formalização de Empresas (CFE) consolidates company-name reservation, notarisation of statutes, commercial registry filing, tax identification number (TIN), social security registration, and commercial licenses under one roof. Procedures reduced from 17 to approximately 9 since 2011.

A private limited company (SARL) requires a minimum share capital of XOF 1,000,000 (~€1,525), deposited in a bank account at incorporation. A public limited company (SA) requires XOF 10,000,000 (~€15,250); a listed SA requires XOF 100,000,000 (~€152,500).

The CFE can theoretically complete core registration in 1-2 days; the World Bank Doing Business 2020 profile recorded ~9 days for the official process. In practice, full operational readiness, including bank account opening, sector licences, and labour registration, takes 15-30 business days and practitioners warn to budget up to several months.

Core steps: (1) reserve company name at CFE; (2) notarise articles of incorporation; (3) file with Commercial Registry; (4) obtain TIN from Tax Authority; (5) register with National Social Security Institute (INSS); (6) obtain applicable sector licence (commercial/industrial/tourism). Foreign documents must be consulate-certified before submission.

The Investment Code provides tax incentives, corporate tax reducible from 25% to 12.5% for investments in priority sectors, with tax holidays of up to 50% for six years on eligible projects. Profits may be freely repatriated. Practical risks include political instability, weak rule of law, and infrastructure gaps that can lengthen timelines unpredictably.