Under Section 7 of the Guyana Gold Board Act, Chapter 66:01, it is illegal for anyone who is not a producer (gold miner) to possess raw gold in Guyana.

Anyone who unlawfully holds gold must sell it to the Guyana Gold Board (GGB) or to an authorised licensed gold dealer within twenty-eight (28) days from the date the Act came into force.

Exceptions to This Rule:

The following persons are legally allowed to possess gold:

1. 1. Goldsmiths holding a valid Goldsmith’s Licence under Section 59 of the Tax Act, Chapter 80:01.
   2. Registered dentists licensed under Guyana’s laws.
   3. Individuals transiting through Guyana who possess gold that was not obtained in Guyana (proof of foreign origin must be provided by the person in possession).

For any questions or to report illegal gold possession, please contact the Guyana Gold Board.

Gold Must Be Sold to or Purchased from the Guyana Gold Board

Under Section 8 of the Guyana Gold Board Act, Chapter 66:01, no one is allowed to sell or purchase gold from any person other than the Guyana Gold Board (GGB) or an agent (licensed gold dealer) authorised in writing by the Board. Additionally, no person is allowed to export gold without proper authorisation.

Exceptions to the Rule

The exceptions to Sections 7 and 8 of the Act are provided in Sections 9 and 10, which allow certain persons to possess, purchase, or export gold under specific conditions.

A. Licensed Gold Dealers: Authority to Purchase and Export Gold

Under Section 9(1) of the Act, persons who apply to the Guyana Gold Board in the prescribed manner may be granted authorisation to:

• • • Possess, sell, or export a specific quantity of gold.
    • This authorisation is subject to conditions imposed by the Board.

Such persons, once approved, are referred to as Licensed Gold Dealers.

B. Licensed Traders: Authority to Purchase Gold Through Bartering

Under Section 9(2), a person who is authorised under the Tax Act to sell, barter, or display goods for sale in a mining district may advance money or supply goods to a miner, with payment being made in gold obtained through mining activities.

Conditions for Licensed Traders (Bartering):

• • • The trader must notify the Guyana Gold Board within ten (10) days of receiving gold.
    • On request, the trader must sell the gold to the Board at the fixed price.
    • The trader must record every transaction in a special register showing:
    • The amount of money advanced or goods supplied.
    • The cost and amount of gold received.
    • This record must be available for inspection by any officer of the Board.

C. Licensed Traders: Authority to Purchase Gold

Under Section 10 of the Act, a person authorised under the Tax Act to trade in mining districts is also permitted to purchase gold directly from miners.

Conditions for Licensed Traders (Purchasing):

• • • The trader must inform the Guyana Gold Board within fourteen (14) days of purchasing gold.
    • On request, the trader must sell any gold in their possession to the Board at the fixed price.
    • The trader must keep a record of all purchases and sales in a dedicated book, which must be produced for inspection when required.

For more information on how to apply for a licence or to report concerns, please contact the Guyana Gold Board.

In accordance with Section 7(3)(a) of the Guyana Gold Board Act, Chapter 66:01, only a person holding a valid Goldsmith’s Licence issued by the Guyana Geology and Mines Commission (GGMC) under Section 59 of the Tax Act, Chapter 80:01 is legally authorised to possess gold.
As such, the Guyana Gold Board (GGB) may sell gold directly to these licensed goldsmiths.

Required Documents for Purchasing Gold

Licensed goldsmiths must present the following documents when purchasing gold from the Guyana Gold Board:

1. 1. National Identification Card or Passport
   2. Valid Goldsmith’s Licence
   3. Taxpayer Identification Number (TIN) Certificate
   4. Proof of Address (e.g., utility bill or bank statement)

Third-Party Authorisation

If a licensed goldsmith wishes to authorise someone else to purchase gold on their behalf, the following additional documents must be submitted:

1. 1. Authorisation Letter on the company’s letterhead or a completed Third-Party Authorisation Form
   2. National Identification Card or Passport for the third party
   3. Proof of Address for the third party

All customers are reminded that these requirements help ensure compliance with national AML/CFT laws and regulations and support efforts to prevent illegal gold trading.

1. Identification Card/ Passport
2. TIN Certificate / Driver’s Licence
3. Proof of Address
4. Mining Licence(s) and/or Permit
5. Form 14-Permit to Convey (Production Sheet)- Note that this should be produced by the customer for every transaction.

1. Certificate of incorporation
2. Articles of incorporation
3. By-laws
4. Notice of Shareholders
5. Notice of Directors
6. Notice of Secretary
7. Notice of Address
8. Declaration of Compliance
9. Certified copy of Share Register
10. Certificate of Good Standing
11. Company TIN
12. Mining Licences and /or Permits
13. Guyana Revenue Authority (GRA) Tax Compliance Certificate
14. Form 14-Permit to Convey (Production Sheet)

Documents for Director(s) and Beneficial Owner(s) of a Company:

1. National Identification Card/ Passport
2. Proof of Address
3. TIN Certificate / Driver’s Licence

1. Valid Certificate of Registration
2. Guyana Revenue Authority (GRA) Tax Compliance Certificate
3. National Identification Card/ Passport
4. TIN certificate/ Driver’s Licence
5. Proof of Address
6. Mining Licence(s) and/or Permit
7. Form 14-Permit to Convey (Production Sheet)

1. Partnership Agreement (if applicable)
2. Business Registration (if applicable)
3. Identification Card/ Passport for each partner
4. TIN Certificate / Driver’s Licence for each partner
5. Proof of Address for each partner
6. Mining Licence(s) and / or Permits
7. Form 14-Permit to Convey (Production Sheet)

In addition to the documents required for the different types of customers (whether a natural person customer, registered business, partnership or legal person customer, a person licenced to trade in valuable minerals and precious stones by the Guyana Geology and Mines Commission under section 58 of the Tax Act, Chapter 80:01 is required to produce the following documents when selling gold to Guyana Gold Board:

1. Licence to Trade in Valuable Minerals & Precious Stones
2. Trader’s Record Book and/or Daily Transaction Book (effective May 1, 2024, these records can be submitted electronically via email address: ggbinfo@ggb.gov.gy.
3. Form 14-Permit to Convey (Production Sheet)

Yes, a customer may authorise a third party to conduct business on their behalf.

In addition to the documents required for the relevant customer, the third party is required to produce the following documents:

1. Authorization Document which can include:
   • Power of Attorney;
   • GGB’s Third-Party Authorisation Form (Individuals, Businesses or Partnerships) or;
   • Authorisation on Letterhead (for Companies)
2. National Identification Card/ Passport for Authorised Person
3. Proof of Address for Authorised Person
4. TIN Certificate/ Driver’s Licence for Authorised Person

1 Troy Ounce = 31.1 Grams

1 Troy Ounce = 20 Pennyweights

1 Pennyweight = 24 Grains

To convert:

Grams to Troy ounces – Divide by 31.10348
Grams to Pennyweights – Multiply by 0.643014
Pennyweights to Grains – Multiply by 24

1.  Divide your wet weight by your dry weight
2. Multiply that result by 2307.454
3.  Subtract 2088.136 from the result in step 2.

The answer is the density of your gold.