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Setting up a company in Guatemala

To set up a company and start a business in Guatemala, we recommend to get advice about the project facts, before starting to develop it. As an legal advisors, we will guide and advice to the right path according to the plan or projects seeked.

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The voluntary immobilization of registered goods or rights

The voluntary immobilization of registered goods or rights, that are registered at the General Property Registration, is guaranteed and safeguarded by law in our legal environment for the benefit and legal certainty of the owner and / or their representatives (in special cases).

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Along with the well-known will made or advice by an attorney, under which we manage the succession of our assets and rights in several legal jurisdictions, it has recognized in several legal jurisdictions the autonomy of the patient and the rights and obligations of clinical documentation and information.

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General aspects of the Moveable State Guarantees Law

From January 1st, of 2008, the small and medium companies or entrepeneurs will be able to ask for loans or credits, for their own needs and projects and whose guarantees can be personal moveable state property. This is due to the new law passed by the Congress of the Republic to have access on credits where the guarantees can be machinery, vehicles, and harvests, among others.

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Aspects to take care in a Buying and Selling real estate business.

To our clients and visitors, we share this publication, that contains general aspects of the real estate market and transactions, is subedited to a series of social, legal, and procedural factors and normatives, that in many cases, the lack of attention to one of them causes obstruction, delay and interrupt the real estate transactions or Negotiations. (Esq. Pedro Aragon Muñoz.)

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Guatemala has the infrastructure and human resources to establish any kind of industry focused on technology. We trust the Guatemalan labor and we have the ability and attitude to learn quickly the tasks of assembling and manufacturing of electronic equipment ... Barreondo Manuel, General Manager, SAT Corporation

... Guatemalan labor force has natural abilities that allow easily be quickly trained in assembly tasks ... Jacob G. Teffel, Fogel Group CFO

Strategic Location

Guatemala has a comparative advantage with other countries in the region, due to its strategic location, making it a natural bridge between the Americas. Complemented by access to the Pacific and Atlantic oceans, as well as access to primary markets in the world.

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Until the law separate us

"Transparency, clear information and foment the dialogue between all the members of the team", are the keys to survive...

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Setting up a company in Guatemala E-mail
Friday, 03 April 2009
Setting up a company in Guatemala

To set up a company and start a business in Guatemala, we recommend to get advice about the project facts, before starting to develop it. As an legal advisors, we will guide and advice to the right path according to the plan or projects seeked.

As a contribution to the visitor, we make available a few notes, than at any time do not substitute a legal or proffesional advice; in the basis to provide you a preliminary knowledge and aspects to take into account in the incorporating process.

As a starting point, prior to draft the deed that contains the articles of association to form, it´s important to mention that only an active service Notary can write down the document (only Notaries are authorized to advice and write public documents, do not be surprised). As a second note, its advisable to obtain a previous search and verification that the name given to the company is available, ie, that does not exists another similar or alike name filled in the Registers, in order to avoid rejections from the local register or third-party competitions, as well as loosing time and resources. The fact that the name is available, does not guarantee that the presentation of the case continue, ie, in the meantime, there may be an admission, and complications.

Likewise, we provide some notes to considerate in drafting the statutes of the company, should take into account are:

  1. Shareholders complete name and with their corresponding identification data. The minimum shareholders to form a corporation are 2 physical or legal persons, citizen or foreigners. It is allow the legal performance for physical or legal person in case they do not want or cannot signed the proper document.
  2. Company Name (name of the company and its trade name)
  3. Registered Office (legal & physical located) is required to indicate its social location on a physical address at the Guatemala Republic.
  4. Purpose of the Society (to be allocated to the Company. Lawful purpose and commercial)
  5. Company Term (specified period or indefinitely)
  6. Share Capital
    • Authorized (maximum amount that the company may issue shares in, without entering into a capital increase)
    • Subscribed (is essential to pay at least 25% of its nominal value)
    • Paid (Minimum initial paid the corporation, is Q 5,000.00 approximately US$ 650.00). There are different method of payments.
  7. Description about the contribution the shareholders do (those can be in money, in kind or others methods). If the contribution is in money is necessary to open a bank account under the society name, cast the deposit, and the copy of it is necessary for drafting. If the contributions are not in money, youll have to discuss about the legal and right mechanism for the transfer in question.
  8. Stock titles: The only type of stocks that the company may issue (since July 1st, 2011) is:
    • Nominally
  9. Distribution of the actions: Amount of actions to be issue a nominal value equal, according to the subscribed amount.
  10. Board of the Company and its powers:
    • General Assembly
    • Board of Directors and / or Sole Administrator, and
    • General Management and Specific Management
  11. Management Authority: The society can be manage by a Board of Directors (integrated for a President, Vice President and Secretary, and other positions you wish) or a Single Administrator. The people that develop these positions may or may not be partners. They are the body responsible for implementing and legally represent the Company in matters that suit.
  12. Inquiry Board, if there are. It can be the shareholders, or determine one Public Accountant and Auditor.
  13. Other stipulations that the shareholders deem appropriate, such as rights and common obligations, quorum, exclusion and separation of partners, shareholders rights, etc.
  14. Registration of books of accounts and social which must register with the local Registries.

Once the articles been greed and the requirements established by the law have been met; the Notary will draft the Public document that contains the Entity constitution. We let you know that the Notary has the necessary faculties for writing and authorize this document such as in the Republic of Guatemala as internationally, according to the clients needs.

Usually is agreed that the client assign to his Notary, to manage the whole procedure until it´s able to operate; in that case, the Notary will make all the necessary documents for the registration and perform the legal and administrative actions to obtain the authorizations required, depending of the project. Otherwise, you should be understood that in presenting the legal copy of the incoporation deed to the local Register, does not finish the incorporation process, besides is necessary the development and registration Appointment of legal representatives and company subscriptions, shares, books, in some cases the transfers at the Property Register or any other Inspections, among other efforts. So be sure, that your legal advisor and Notary provide and pact the whole service with you.

Complied with the requirements of law, and conducted all due diligence to the respective Records and Institutions in charge, is released and attaches the final registration of the Company, which means simply that the government authorization for the company to operate legally in Guatemala. In the interim step of registration was issued the provisional registration of the Company to perform certain acts and to compel the company.

As a finall appointment, depending on the business or goal of the company to be set, you will have to register and applying for special permits or registers to other government institutions, to start the business and legal operate the company.

Recently, the file of new companies can be performed by the online site www.minegocio.gt , in which some Notaries can file the company, reducing time and costs. Also, from April 7th, 2014, new costs will be charged, and in some cases, such as new companies, applies reductions to the actual, which benefits the client.

Therefore, the importance of this operation and safeguard the confidentiality of the information, finantial assets and corporate veil , it´s recommended that the Legal Advisor and Notary is regardless of your trust and confidence. To this end, in Aragon & Aragon we offer a brief profile of Attorneys of the main body of the Firm, with background and experience in commercial and corporate issues, so you should feel supported if we are your choice and appointment for the procedure.

If you require personal information, please contact us.

Last Updated ( Monday, 23 May 2016 )
 
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Edificio Centro Empresarial
Torre II, oficina 305
Guatemala, Guatemala, Postal Code 01010

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