Page 176 - Caribbean-Central America Profile 2018

GUATEMALA

CARIBBEAN-CENTRAL AMERICA PROFILE 2018

Starting a Business - Registration Requirements:
No. Procedure Time to complete Costs
Check the proposed company name online and obtain
1 a letter from a Guatemalan notary public to open bank 1 day GTQ 30 for each name
account
Deposit the subscribed capital in a bank and obtain a
2 1 day no charge
receipt
GTQ 5,000 average notarial fees + GTQ 250 stamp
A notary public draws the deed of constitution, fills the tax + GTQ 300 notarial stamp tax for the certified
3 forms required by the Commercial Registry and the tax Less than one day (online copy + GTQ 112 stamp tax for the appointment
procedure)
authority and pays the registration fees online + GTQ 275 flat free + GTQ 15 edict + GTQ 75
appointment + GTQ 100 Commercial License.
Obtain the certification of the legal representative´s
4 registration, the proof of registration at the tax 3 days no charge
administration and the edict
2 days on average for the
Publication of the edict in Diario de Centro America edict to be published and 8
5 and opposition to the provisional registration of the days for the opposition to the GTQ 525.62
company by affected third parties provisional registration by
third parties
Obtain the Articles of Incorporation registration
certificate, the commercial license, the Social Security
6 3 days GTQ 250 stamp tax
Number and the authorization for social and accounting
books
Source: The World Bank Group

FREE TRADE ZONES / Superintencia de Bancos NATIONAL STOCK EXCHANGES
INDUSTRIAL PARKS 9 av. 22-00 zona 1 Ciudad, The Bolsa de Valores Nacional (National Stock
Guatemalan law permits the establishment of Guatemala City, Guatemala Exchange) was founded in 1987 as the first
“free trade zones.” Currently, there are twenty- Tel: (502) 2429-5000 stock exchange in Guatemala. Its success led
one authorised free trade zones in Guatemala, Fax: (502) 2232-0002 to the establishment of two additional private
twelve with operations. Textile assembly E-mail: info@sib.gob.gt exchanges: the Bolsa Agricola Nacional
operations are the common beneficiaries of (Agricultural Exchange) and the Bolsa de
Guatemala’s free trade/maquiladora laws. CENTRAL BANK Valores Global (Global Stock Exchange). These
The Bank of Guatemala is an autonomous subsequently merged to form the Corporacion
TRADE AGREEMENTS institution, constituted in 1945 by the Republic Bursatil, S.A.
Guatemala has Free Trading Agreements (FTAs) of Guatemala and commissioned to execute
and individual trade agreements with various monetary policy. It has the corresponding Bolsa de Valores Nacional, S.A.
countries and regions such as Central America, powers and functions of a central bank. Its 7 Avenida, 5-10, Zona 4,
Mexico, Taiwan, United States, Dominican objective is to promote, create and maintain Centro Financiero,
Republic, Panama, Colombia, Chile, European the monetary, credit and exchange conditions Torre II, Nivel, Guatemala City
Union, and there are negotiations in process Tel: (502) 2338-4400
to establish agreements with additional major that will most favour the orderly development Fax: (502) 2332-1721
markets. of the Guatemalan economy. The intervention E-mail: bvn@bvnsa.com.gt
of the Bank of Guatemala which relates to
Investment agreements have been established the country’s internal economy is limited to Corporacion Bursatil
with Germany, Argentina, Austria, Belgium- the monetary, credit and exchange policies 9na. Calle 3-29 zona 14,
Luxembourg, Chile, Korea, Cuba, Spain, Finland, approved annually by the Monetary Board, its Colonia El Campo,
France, Israel, Italy, Netherlands, Czech Republic, executive organ. Codigo Postal 01014
Sweden, Switzerland, Taiwan (according to Tel: (502) 2363-6127
information from the Companies Commission Banco de Guatemala
for International Trade Negotiations). 7a. Av. 22-01, zona 1, Fax: (502) 2368-3236
P.O. Box 365 E-mail: info@bolsagricola.com
BANKING Guatemala City,
The Superintencia de Bancos (Superintendent Guatemala GOVERNMENT
of Banks) introduced legislation that facilitates Tel: (502) 2429-6000 Guatemala is a Republic with 22 departments. The
the operation of foreign banks in Guatemala, Fax: (502) 2253-4035 President, who is elected by universal suffrage,
lowers legal reserves and facilitates the opening by absolute majority, holds Executive Power.
of branches in the country. The President appoints a Cabinet to assist him.

C-18 Caribbean-Central American Action