Before thinking about investing in any of the profitable businesses in Guatemala, it is important that you inform yourself about the requirements that you have to meet to achieve it.
For this reason, many businessmen in the country, such as Lisa Juan José Gutiérrez Mayorga, suggest keeping in mind the following steps for the creation of companies in the country of Mayan heritage.
Choose the legal form
This is defined according to the economic activity, the objectives, the number of partners and the capital. For this you have the following options:
- Individual merchant: Refers to people who decide to create a company individually and who carry out commercial activities for profit.
- Public limited company (SA): It is a type of commercial company that can be constituted by 2 or more partners. Their liability is limited to the amount of shares that each one owns. Here there is no limit to the amount of capital stock or the number of partners.
- Limited Liability Company (SRL): It is constituted with a minimum of 2 partners and a maximum of 20. Here each partner is responsible for what they contribute and all have equal rights and participation.
Define the company name
After determining the legal form of your new business, it is necessary to choose the business name and verify that it is available . This must be done through the Mercantile Registry requesting a “negative patent certificate”. This is a document that states that the name is not being used.
Register of statutes and public deed
In this step you must go to a notary public to formalize the statutes of the company . These statutes include the internal regulations and the public deed of incorporation. In which the size of the company, the legal form, the number of partners and the capital are reflected. In addition, here the notary must formalize the appointment of the company’s legal representative.
Registration in the Mercantile Registry of Guatemala
All companies that want to be part of profitable businesses in Guatemala must register in the Mercantile Registry. This can be done in the physical office or through their web portal . The procedure is carried out as follows:
- For individual companies: The application form for the registration of a merchant must be acquired , for a value of 75 quetzales, and a commercial company, for a value of 100 quetzales.
- For companies: You must acquire the application form for the registration of a Mercantile Society and pay the value of 275 quetzales at a Banrural office. In addition to this, the values of 6 quetzals for every 1,000 quetzals of the authorized capital. And finally, 30 quetzales per edict for publication.
These forms must be submitted to the entity together with the following documents:
- Public deed of incorporation
- Certificate of appointment of legal representative (s)
- Identification of the owner or owners of the business
- Tax address of the company
- Receipts or proof of payment of fees (which we will talk about in the next step).
Payment of fees
The creation of companies in Guatemala requires the payment of certain fees. These include registration, publication edict and also the appointment rights of legal representatives. Once the payments have been made, the vouchers must be submitted to the Mercantile Registry as a requirement for the formalization and registration of the business.
Registration of the company in the Unified Tax Registry (RTU)
Once the procedure is approved in the Mercantile Registry, you must register the company, request the accounting books and authorize the invoices before the Superintendency of Tax Administration. Once this procedure is ready and registered, the business will be able to start its activities.