Opening a Business in Guatemala

The website http://guatemala.eregulations.org/ has been created to publicise legal requirements, streamline the time it takes to register a company and encourage formal employment.

Monday, February 27, 2012

"Today it takes at least 19 different interactions with 6 different public institutions in order to formalize a business (in other countries it requires only 10), 500,000 new businesses open in Guatemala and only 5 percent are formally registered", reports Elperiodico.com.gt.

The Ministry of Economy, eRegulations.org, and the Registro Mercantil, creators of the site, joined forces in order to help those who wish to register a company in the country and to encourage more businesses to join the formal economy. 80% of those who work do so in an informal capacity and most do not know what steps to take to start a business.

This platform serves as step by step guide to identify what the formal processes of registration are, and to make known which institutions have to be visited, what the timescales are, and what it will cost.



More on this topic

Time and Cost of Starting A Business in Central America

October 2015

The average time for the region is 28 days and the average cost is 48% of GDP per capita, a far cry from OECD average time and costs which are 9 days and 3.4% of GDP per capita.

Using data from the Regional Economic Report 2015, an article on Prensa.com outlines that "...

Less Paperwork to Open a Business in Costa Rica

October 2013

The 12 steps and 60 days that it took to start a business a year ago, have now been reduced to 9 steps that can be done within 24 days.

Nacion.com reports: "This improvement in opening a business is part of the actions undertaken by the Government to facilitate procedures and which has earned the country a jump of seven places in the ranks of the Doing Business 2014 report ...".

Procedures for Business Registration Streamlined

May 2012

The Ministry of Economy in Guatemala has presented "Ventanilla Ágil Plus" (Agile Counter Plus), which will reduce the time for registering a business.

From a press release from the Ministry of Economy of Guatemala (Mineco):

- 30 steps to register companies eliminated reducing the process from 47 to 17 days.

El Salvador Promotes Country's North

August 2009

FUSADES Launched the Website ww.epridex.org, for international investors.

Operated by the Investment Promotion and Exports Diversification Program (PRIDEX), the website is intended to promote investment in the country's north.

Emma Arauz, PRIDEX director, was quoted by La Prensa Gráfica as saying: "The northern zone has a special need to promote itself.

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