Coach Baciro Cande has picked a squad entirely made up of players based in Europe.
Among the new names on the list is former Everton player Francisco Junior, who is now based in Norway.
They will play the opening match against the hosts Gabon in Libreville on 14 January.
It is unclear whether the Confederation of African Football will penalise the small West African country for the late submission of their squad.
Guinea-Bissau eliminated two former champions - Congo Brazzaville and Zambia - in the qualifiers and despite a lack of cash for preparations they will aim to continue their fairytale run.
Cande had hoped to persuade Barcelona's Edgar le and the Leeds United teenager Ronald Vieria to join them in Gabon but was unsuccessful.
Left out of the pre-selection were Amildo Balde, the former Celtic striker now at Maritimo, and Crawley Town's midfielder Aliu Kaby Djalo, formerly on the books of Chelsea.
No plans have yet been announced for pre-tournament preparations.
Guinea-Bissau squad:
Goalkeepers: Jonas Mendes (Salgueiros, Portugal), Rui Dabo (Cova da Piedade, Portugal), Papa Massé Mbaye Fall (Aguadulce, Spain)
Defenders: Emmanuel Mendy (Ceahlaul, Romania), Rudinilson Silva (Lechia Gdansk, Poland), Juary Soares (Mafra, Portugal), Agostinho Soares (Sporting Covilha, Portugal), Mamadu Candé (Tondela, Portugal), Eridson Mendes Umpeça (Freamunde, Portugal)
Midfielders: Nani Soares (Felgueiras, Portugal), Jose Mendes Lopes Zezinho (Levadiakos, Greece), Bocoundji Ca (Reims, France), Tony Silva Brito (Levadiakos, Greece), Toni Silva (Levadiakos, Greece), Piqueti Djassi Brito (Braga), Idrissa Camara (Avellino, Italy), Jean Paul Mendy (US Quevilly-Rouen, France), Francisco Santos Junior (Strømsgodset, Norway), Lassana Camara Sana (Académico de Viseu, Portugal)
Forwards: Joao Mario Fernandes (Chaves, Portugal), Abel Issa Camara (Belenenses, Portugal), Amido Baldé (CS Marítimo, Portugal), Frederic Mendy (Ulsan Hyundai, South Korea)
Guinea-Bissau have named their final squad for their maiden appearance at the Africa Cup of Nations, albeit after Wednesday's deadline.