Can a foreign product supplier buy back distributor rights in Guyana?
In such cases, the foreign product supplier may have to buy back distributor rights from the local agent. Many U.S. exporters of consumer products find that an agent/distributor arrangement is the most convenient, practical, and cost-effective mechanism for sales in Guyana.
Are real estate agents regulated in Guyana?
Guyana has no specific legislation regulating representatives, distributors, or franchisers. However, the GoG is exploring a regulatory framework for real estate agents. Under the LCA law, a local partner or service provider is required for certain goods or services. Agreements for appointment of agents are governed by common law principles.
How do foreign firms export to Guyana?
Foreign firms interested in exporting to Guyana typically establish a formal relationship with a local importer such as a franchise agreement, joint venture, or a local representation arrangement. A local content certificate may be required to participate in the oil and gas sector.
How do franchises work in Guyana?
Local and international franchises are growing in Guyana. Royalty payments related to a franchise agreement are payable to a non-resident franchiser and subject to varying withholding tax rates depending on the country of residence of the franchiser and the applicable double taxation treaty.
How to start a business in Guyana?
Investors seeking to start a business, buy or sell property, or invest in a business operating in Guyana should seek the services of a reputable lawyer and certified accountant with knowledge of the Guyanese market and government to assist with filings, registrations, licenses, and legal paperwork.
How do companies advertise in Guyana?
Companies continue to advertise their products and services in Guyana through radio, television, and newspapers. Direct marketing has grown increasingly popular with the rise of social media as a tool for businesses to communicate directly with customers.
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