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Q250 stamp tax (company deed), Q300 (corporation license), 1 stamp at Q100 (Appointment of legal representative, Certified notarial copy of the deed of incorporation)
* Takes place simultaneously with another procedure.
Registration Requirements Details
Procedure 1.
Check the proposed company name at the Mercantile Registry of Guatemala
Time to complete:
1 day
Cost to complete:
no charge
Name of Agency:
Comment:
Before initiating the incorporation process, the parties may conduct a company name availibility search in order to avoid submitting a preexisting name. Since June 2006, the Commercial Registry provides the option of carrying out the search via the Internet at no cost. The manual search system at the Registry is still available.
Procedure 2.
Obtain letter from a Guatemalan notary public to open bank account
Time to complete:
1 day
Cost to complete:
no charge
Name of Agency:
Comment:
The minimum paid capital requirement of GTQ 5,000 must be deposited in a local bank before the articles of incorporation are signed. For this purpose, a notary public must issue a letter confirming that he or she has been requested to draw up and register the company’s deed of constitution. This letter allows for the opening of a temporary bank account while registration is completed. If the company capital is composed of an asset instead of cash, this procedure is not required.
Procedure 3.
Deposit the subscribed capital in a bank and obtain a receipt
Time to complete:
1 day
Cost to complete:
no charge
Name of Agency:
Comment:
The Registry does not require filing of the deposit slip or the bank statement. The notary public transcribes the deposit of paid in capital in the articles of incorporation.
Procedure 4.
A notary public draws the deed of constitution
Time to complete:
3 days
Cost to complete:
GTQ 6,800 average notarial fees + tax
Name of Agency:
Comment:
The deed is executed by the founding shareholders and attested by the notary public, and provisional stock certificates are issued. Once the company is duly registered, definitive stock certificates are issued and substituted for the provisional stock certificates.
The notary public generally charges a package fee (up to USD 2,000) for the entire process of setting up a company, including the preparation of the provisional stock certificates, the value depends on the authorized capital of the corporation. They will be issued and signed by the company’s president and the secretary of the initial board of directors, which is appointed in the deed of incorporation.
Procedure 5.
The notary buys the fiscal stamps and issues a certified copy of the deed of incorporation for filing with the commercial register
Time to complete:
1 day
Cost to complete:
Q250 stamp tax (company deed), Q300 (corporation license), 1 stamp at Q100 (Appointment of legal representative, Certified notarial copy of the deed of incorporation)
Name of Agency:
Comment:
Only a notary public can buy the fiscal stamps at the Superintendency of Tax Administration.
Procedure 6.
File notarized unique registration form and documents with the Commercial Register (Registro Mercantil)
Time to complete:
4 days
Cost to complete:
GTQ 2000
Name of Agency:
Comment:
A new fast-track system was introduced in May 2006 and fully implemented in September, requiring only a single registration form (which must be legalized either by a lawyer or notary public) for several applications which used to be filed separately: notice of issuance of stock certificates, notice of appointment of legal representative, commercial registration, application for business license (patente), and tax and social security registration (which can be processed, together with the other formalities, through a single registration form). The fast-track system did not work efficiently and it is not in use any more. The Registro Mercantil now takes approximately 5 business days to analyze the legal documents and providing a provisional registration number. The same documents as the fast-track system are still required : (1) form of the commercial registry (sold for GTQ 2); and (2) the deed of constitution (original and simple photocopy of the certified notarized copy).The Registry analyzes the documents presented, and if they fulfill legal requirements, it issues the public notice of authorization or edict (edicto) and assigns a provisional registration number, which allows for the nomination of the legal representative (Procedure 7). The Registry then coordinates the publication of the edict, as well as tax registration, the authorization to print invoices, and social security registration.
A single fee payment is necessary and includes: - Registration fee: GTQ 275 plus 0.6% of the authorized capital (up to a maximum cost of GTQ 25,000) and plus GTQ 15 (for issuance of the public notice, or edicto). - Edict publication fee: GTQ 525.62 for publication in the Diario de Centro America. - Authorization to print invoices: GTQ 0.5/page (assuming 100 pages).
Procedure 7.
Registration of the appointment of legal representative of the company
Time to complete:
1 day
Cost to complete:
included in previous procedure
Name of Agency:
Comment:
Once the provisional registration number has been assigned, the Commercial Registry calls the applicant or his/her representative (e.g., notary public), in order to nominate the company’s legal representative.
Procedure 8.
Obtain the definitive registration, tax and social security numbers, and authorization to print invoices
Time to complete:
14 days
Cost to complete:
included in previous procedure
Name of Agency:
Comment:
Provisional registration at the Commercial Registry with the tax and social security authorities can be completed in 2–3 days. Following the publication of the edict, a protest period of 8 days applies before the Commercial Registry can finalize the registration. Once registration is completed, tax and social security identification numbers can be obtained.
Procedure 9.
Application for trading license
Time to complete:
1 day
Cost to complete:
QTQ 165
Name of Agency:
Comment:
Procedure 10.
Submit to the Commercial Registry for their authorisation, company accounting books and books of minutes of shareholder and board of directors meetings
Time to complete:
1 day
Cost to complete:
GTQ 0.15/page, assuming 100 pages
Name of Agency:
Comment:
Procedure 11.
Application for book of salaries authorisation from the Inspection of the Department of Labour
Time to complete:
1 day
Cost to complete:
GTQ 0.5/page, assuming 100 pages
Name of Agency:
Comment:
This requirement to obtain authorization of the book of salaries applies to entities employing more than 10 workers.
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