Equatorial Guinea has a population of 1 million people, with fishing, petroleum, and agriculture key to the economy. The standard corporate tax rate is 35%, oil and gas companies operate under a special tax regime. The corporate tax year is the calendar year, with tax returns due on April 30 for the previous year.

Labor and Payroll considerations in Equatorial Guinea:

  • Employment contracts should be written
  • Minimum wage is 129,035 CFA Francs per month, with varying minimum wages based on job sectors
  • Income tax is withheld from employee pay, using a Pay-As-You-Earn (PAYE) monthly schedule
  • Social security contributions are withheld from employee pay
  • Employers must contribute to social security
  • Employers must register new employees to the Social Security Institute (INSESO)
  • Foreign workers can only be 10% of a company’s workforce. Oil and gas companies can have up to 30% of their workforce from foreign nationals
  • Foreign workers need work and residency documents
  • US nationals do not need a visa to enter the country, but other foreign nationals require a visa

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