Applying For Authorisation to Possess, Sell or Export Gold (Dealer’s Licence)

Statutory Authority

Section 9(1) of the Guyana Gold Board Act, Chapter 66:01 and Regulation 4 (3) of the Guyana Gold Board (Dealers) Regulations No. 4 of 1997 empowers the Guyana Gold Board to authorise applicants to possess, sell, or export such quantities of gold as the Board may determine, subject to any conditions it considers appropriate. This authority is formally granted through an Authorisation to Possess, Sell or Export Gold, commonly referred to as a Dealer’s Licence.

Regulatory Framework and Guidance

The procedures governing the issuance of this Authorisation are detailed in the Standard Operating Procedure for Issuing Gold Dealer’s Licence below. All applicants are encouraged to review this document to ensure they are fully aware of the requirements and process for obtaining authorisation. Licensed Gold Dealers are regulated under the Guyana Gold Board Act and the Guyana Gold Board (Dealers) Regulations No. 4 of 1997, both of which outline the regulatory standards and obligations applicable to dealers. Dealers are also supervised by the Guyana Gold Board under Guyana’s Anti-Money Laundering and Countering the Financing of Terrorism and  Counter Proliferation Financing regime. Please review the AML/CFT Tab for more information regarding the dealer’s obligations under the Anti-Money Laundering and Countering the Financing of Terrorism Act No. 13 of 2009.

Eligibility and Application Requirements

To apply for authorisation, interested persons must complete the Application Form below. Forms are available for Registered Business, Partnership, or Company. The Completed Application Form along with all required supporting documentation must be submitted to the Compliance Department of the Guyana Gold Board.  As part of the eligibility assessment, applicants are subject to the “fit and proper” criteria outlined in Section 9A of the Guyana Gold Board Act. Applicants must therefore submit a Fit and Proper Form together with their completed application

Fees and Security Deposit

Upon approval by the Board, applicants are required to pay the following fees prior to the issuance of the Authorisation:

    • Processing fee: GYD $75,000
    • Licence fee: GYD $3,000,000
    • Security deposit: Equivalent of 10 ounces of gold, calculated based on the first gold fix of the year in which the application is submitted.

Validity of the Licence

Each Authorisation issued by the Guyana Gold Board is valid until December 31st of the year in which it was granted, regardless of the date of issuance. Renewal is required annually and, must comply with the procedures and requirements in effect at the time of renewal.