The Government of Guinea has declared that all foreigners are welcome in the country but all foreign nationals who stay for more than 90 days request permission for an extension of their stay. Guinea requires expatriate employees to be properly documented with respect to passport, visa, resident card, and work permit. Foreign employees are required to have contracts with the government organizations or with legally established private firms. The employer must apply for a foreign worker's permit for each expatriate.
Residents of Guinea are taxed on their worldwide income. Non-residents are taxed on income from services performed in Guinea. As of January 1, 1992, all foreign residents muet keep 20 percent of their accounts in Guinean francs. Depositors can withdraw up to $800 in hard currency when they travel, but must make a special request to the Central Bank when withdrawing goods for other purposes, the Central Bank treats all such requests on a case by case basin.
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