Legal Aspects Guatemala

1.
LEGAL ASPECTS OF COMMERCIAL COMPANIES
When creating a company, with a series of bureaucratic procedures that must be completed, it is
likely that not enough importance is given to a series of legal aspects in which the new company is
involved and that may affect its subsequent development.
Sometimes it is due to the entrepreneur's lack of knowledge (a euphemism that is often used to hide
the lack of information on the part of the Administration), other times due to the latter's own
disinterest in dedicating valuable time to these issues, the fact is that in the Starting a company and
its subsequent development, a series of legal obligations are acquired about which it is advisable to
at least have an idea.
Constitution of a company
Creating a company often means establishing a commercial company. The tangled system of
procedures for the creation of that company is the reflection of the legal fact of the creation of a
commercial company with its own personality, and therefore, with rights and obligations towards
third parties.
Commercial Aspects
A commercial company must be formally established to acquire legal personality. This involves the
formalization, among other procedures, of a deed of incorporation according to the rules contained
in different legal texts.
Permits and Registrations
In addition to the procedures to create a company, it will be normal to be required to register in
certain registries or request the granting of certain permits to start or develop an activity. At this
point, the greatest difficulty is finding out what permissions to obtain from the State -and its
Ministries-, Autonomous Communities, City Councils, etc.
One of these registries is the Commercial Registry where it will not only be mandatory to register
the company in its foundation but the official books must be regularly presented for legalization.
Limited Liability
In most corporate forms used to create a company, there is a limitation of the liability of the
partners to the contributions they have made. However, for practical purposes, if you have to
request credits or other types of operations, it is normal that the partners must guarantee these
operations in their personal capacity. This is important, since any problems that may arise in the
company will automatically be transferred to the partners' assets.
Labor Relations
The company, sooner or later, will have to hire third parties to carry out its activity. Then Labor
Law appears on the scene to which the company is also subject in relation to its workers.
Employment contracts
By definition, every company-worker relationship is subject to an employment contract (if this does
not exist, it is considered verbal and indefinite). Furthermore, labor regulations may require the
registration of these employment contracts and the completion of countless procedures. Since in the
event of discrepancies, the Law explicitly favors the employee to the detriment of the company, it is
advisable to be very clear about the obligations acquired in this regard.
Collective agreements
It is not enough to just agree with a worker. It is possible that the company is subject to the
decisions adopted in collective bargaining and formulated in the so-called collective agreements.
Thus, if a company carries out its activity in a certain sector, it may be regulated by an agreement
that establishes rules different from the general norm.
Necessary requirements for the registration of a commercial company

ACCORDING TO THE REQUIREMENTS, EXEMPLIFY WITH FICTITIOUS DATA THE
CONSTITUTION OF A BUSINESS COMPANY.
PROCEDURE:
Procedure for constitution and registration of a company incorporated in Guatemala

a) Authorization of the Public Deed by the Notary.
b) The authorization must be submitted to the Commercial Registry, requesting its registration. If
these are companies that require prior authorizations, these must be accompanied.
c) If the deed complies with the legal requirements, the commercial registrar makes a provisional
registration and orders the publication of the edicts as indicated by law;
d) If there was no objection from third parties, definitive registration is ordered, a registration act
that has retroactive effect to the date of provisional registration.
e) The company is definitively registered, the testimony is reasoned and the commercial patent is
issued by the registrar.
MAYNOR I FOUND THIS
INTERESTING TOO,
FOR ME ANYTHING CAN GO! EITHER at least the information
LEGAL ASPECTS FOR THE REGISTRATION AND REGISTRATION OF A
COMPANY IN GUATEMALA
The process of registering and registering a company in Guatemala is extremely easy, if we

have enough tools to do it and we are guided about the process.
Currently we can find information on various Internet pages, also on the pages of the
Commercial Registry and on the page of the Superintendence of Tax Administration
(SAT).
There are two types of merchants, described in the Commercial Code, individual
merchants, who operate in their own name; and social merchants, which are companies
organized under commercial form.
In Guatemala there are 5 types of commercial companies, which can operate within the
country, however the best known is the Public Limited Company.
Both individual merchants and social merchants are governed by the different laws in force
in the country, and some particular ones depending on the commercial activity to which
they are dedicated, such as the Commercial Code, VAT Law, Tax Update Law, Tax Code,
among others.
Having established the type of company we want to found and the main commercial
activity to which we will dedicate ourselves, we proceed to carry out a series of steps in the
Commercial Registry. Currently, on the entity's page there are the completely free
requirements and forms, which They facilitate the registration and registration action for us.
These forms are in PDF format, they are modifiable and are also sent through the page.
The procedure for the company to be registered as such is as follows:
Verify the company name online and obtain a letter from a notary public for the deposit of
the minimum capital in a bank account. The minimum capital is Q.5,000.00 which must be
deposited in a local bank prior to signing the statutes. A notary public must issue a letter
confirming that he or she has been commissioned to prepare the social contract. The
presentation of the letter serves to open a provisional bank account in which the minimum
capital is deposited. The letter must indicate the exact address where the new company will
operate, proving it with the presentation of a utility bill.
You proceed to draft the deed of incorporation with the notary, fill out the forms from the
Commercial Registry and the tax authority and pay the registration fees online, which are
already available in digital form through the Minegocio.gt page.
The notary issues a certified copy of the "witness" deed with the act of appointment of the
legal representative (administrator or board member) who must be personally registered
with the SAT.
Finally, we proceed to pay for the procedures carried out in the Commercial Registry and
the appropriate forms, which include stamp duty and taxes.
The publication of the edict in the Diario de Centro América to inform third parties of the
provisional registration of the company, this is carried out two days after the provisional
registration in order to give third parties who consider themselves affected the opportunity
to oppose the creation. of the new entity.
By obtaining the definitive registration of the company, identification for social security,
patents and authorization of the company's books are obtained. Registration of shares must
be done by law within one year following registration. Through Minegocio.gt, employer
registration is obtained in the Guatemalan Social Security Institute.
ANNEXES
PROCEDURES TO REGISTER AND REGISTER A COMPANY IN GUATEMALA

No Time
Procedures Cost
. (days)
1 Verify the company name online and

obtain a letter from a notary public for
the deposit of the minimum capital in
a bank account
First, check the website of the

Commercial Registry of Guatemala to
see if the name of the company is
available. The minimum capital
requirement of GTQ 5,000 must be
deposited in a local bank prior to signing
the articles of association. A notary
public must issue a letter confirming that
he or she has been commissioned to
prepare the social contract. The
presentation of the letter serves to open a
provisional bank account in which the
minimum capital is deposited. The letter
must indicate the exact address where the
new company will operate, proving it GTQ 1 [GTQ 0.5
with the presentation of a utility bill. 1 day by name]
2 Deposit the minimum capital in the

commercial bank and obtain proof of
deposit
The legal representative opens a bank

account and deposits the subscribed
capital. The bank will require a bill for
some public service with the address of
the new company. With the payment of
the minimum capital, the bank issues a
deposit receipt that must be presented to
the notary so that the payment
information is inserted in the contract. 1 day Free of charge
3 Draft the articles of incorporation with 0.5 day GTQ 6,127 [GTQ
the notary, fill out the forms from the (online 5,000 average
Commercial Registry and the tax procedure) notary fees + GTQ
No Time
Procedures Cost
. (days)
authority and pay the registration fees 250 stamp duty +

online GTQ 300 tax stamp
for issuing the
testimony + GTQ
In March 2013, Guatemala inaugurated 112 appointment of
the online portal "Minegocio.gt", a new the representative +
platform that allows companies and GTQ 15
publication of the
companies to be registered in the
edict + GTQ 75
commercial registry using a single
appointment +
format, with the Superintendency of Tax GTQ 100 company
Administration (SAT), the Guatemalan books]
Institute of Social Security and the
Ministry of Labor. The platform
significantly reduced the time to obtain
final registration, tax and social security
identification numbers, and printing
accreditation.
The notary issues a certified copy of the

"witness" deed with the act of
appointment of the legal representative
(administrator or board member) who
must be personally registered with the
SAT. Then the notary fills out the form
from the Minegocio portal to which the
following information is attached:
1. Testimony of the articles of
incorporation;
2. Designation of the legal
representative;
3. Registered office accompanied by a
utility bill;
4. Intention letter;
5. Receipt of payment of rights in the
Banrural bank located at the headquarters
of the commercial registry.
Finally, in addition to the notary's fees

(GTQ 5,000 on average), the notary pays
the amount required by the Registry at
No Time
Procedures Cost
. (days)
Banco Banrural: GTQ 250 for tax stamp,

GTQ 300 for notarial stamp of the
certified copy, GTQ 112 appointment
stamp ; GTQ 15 edict; GTQ 100 books;
GTQ 100 Commercial License.
4 Obtain the provisional registration,

the order of publication of the edict,
the registration of the appointment of
the legal representative and the
payment order for authorization of the
company's books from the
Commercial Registry and the
registration in the Unified Tax
Registry (RTU), the Number of Tax
Identification (NIT of the company)
and the payment order for
authorization of books from the
Superintendency of Tax
Administration (SAT)
The provisional registration of the

company, with the SAT and in the IGSS,
can be obtained in 2-3 days through
Minegocio. Sending physical documents
and registration in other provinces of the
country takes between 10 and 14 days.
Likewise, once the company is
registered, by law it has 1 year to send a
notification to the commercial registry
indicating the number of shares issued in
relation to the minimum capital. 3 days Free of charge
5 Publication of the edict in the Diario 10 days (2 GTQ 526

de Centro América to inform third days for
parties of the provisional registration publication
of the company + 8 days
third party
opposition
period)
No Time
Procedures Cost
. (days)
Two days after the provisional

registration occurs, the commercial
registry orders the publication of an edict
in the Diario de Centro América in order
to grant third parties who consider
themselves affected the possibility of
opposing the registration. The legal
deadline to object is 8 days following
publication.
6 Obtain the definitive registration of

the company, the commercial license,
the Social Security number and the
authorization of Commercial Registry
books and accounting books
When registration is complete you

obtain identification for social security,
patents and authorization of the
company's books. Registration of shares
must be done by law within one year
following registration. Through
Minegocio, employer registration is
obtained in the Guatemalan Social
Security Institute. 3 days GTQ 250
PRACTICAL CASE No.1
Registration and Registration of a Tourism Company (Hotel)
In addition to the aforementioned requirements, the following must be taken into account:
Registration of tourism companies
Individual or collective legal entities that are dedicated to tourism activities registered by
the Guatemalan Tourism Institute must fill out the registration form and attach the
documents required to begin their registration process.
The form can be obtained in the Forms section of this website or physically at any
Delegation of the Guatemalan Tourism Institute.

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1.

LEGAL ASPECTS OF COMMERCIAL COMPANIES

Necessary requirements for the registration of a commercial company

Procedure for constitution and registration of a company incorporated in Guatemala

The process of registering and registering a company in Guatemala is extremely easy, if we

The procedure for the company to be registered as such is as follows:

PROCEDURES TO REGISTER AND REGISTER A COMPANY IN GUATEMALA

1 Verify the company name online and

First, check the website of the

2 Deposit the minimum capital in the

The legal representative opens a bank

authority and pay the registration fees 250 stamp duty +

The notary issues a certified copy of the

Finally, in addition to the notary's fees

Banco Banrural: GTQ 250 for tax stamp,

4 Obtain the provisional registration,

The provisional registration of the

5 Publication of the edict in the Diario 10 days (2 GTQ 526

Two days after the provisional

6 Obtain the definitive registration of

When registration is complete you

Registration and Registration of a Tourism Company (Hotel)

Registration of tourism companies

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