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Guyana Land Ownership
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Overview – Guyana Land Ownership

Guyana, with a population hovering around 761,000, is the only English-speaking country in South America. It is abundantly endowed with natural resources and one of the few country in which the constitution guarantees the right of foreigners to own property and land parcels.

It is important to note that there are four types of land in Guyana

a. State owned

b. Government owned

c. Private transported or titled land

d. Industrial estates.

Foreigners are treated the same as Guyanese citizens when acquiring and disposing all properties. The process for acquiring or leasing land depends on its classification. In most cases, state and government owned lands are leased rather than sold, through an application process that involves the Guyana Lands and Surveys Commission (GLSC), GO-Invest and other regulatory bodies. Private transactions are generally carried out between lawyers for the buyer and seller.

Income tax rate is 33.33%

Rental Income is taxed at a flat rate of 33.33%.
Capital Gains tax is levied a flat rate of 25% but assets and properties held for more than 25 years are exempt from capital gains taxation.
Inheritance tax is levied between 0.50% on inheritance exceeding 100,000 (US$498).
Residents are taxed on their worldwide income at a flat rate of 33.33% on income exceeding GYD420,000 (US$2,093).

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