Guatemala: Company Registration Up 15%

From January to April of this year, the number of mercantile companies registered totaled 13,975, 15% more than the number reported in the same period in 2018.

Wednesday, June 5, 2019

Data from the Mercantile Registry (RM) specify that between the first four months of 2018 and the same period of 2019, 1,783 more companies were registered in the country, going from 12,192 to 13,975.

Dca.gob.gt reports that of the total number of companies registered in the first four months of the year, "... 2,000 69 companies registered using RM's E-services platform. During this period, 2,000 33 companies were registered, equivalent to a 40% increase over the 1,452 companies authorized on the same date of the previous year."

See "Digital Registration of Companies in Guatemala

According to the 2019 First Business Perception Survey, carried out by the Coordinating Committee of Agricultural, Commercial, Industrial and Financial Associations (Cacif), 25% of the consulted businessmen perceive improvements in the opening of companies, derived from the approval of the reforms to the Code of Commerce.

Claudia Galán, director of the Cacif Economic Unit, explained that "... While it is true that the modifications to the Code of Commerce have benefited, it is important to continue streamlining procedures to improve the business climate.

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More on this topic

Registration of Public Limited Companies grows to 3%

November 2019

During the first nine months of 2019, 10,476 corporations were registered in Panama, 3% more than those reported in the same period of 2018.

The latest report of the General Comptroller of the Republic details that between January and September of last year and the same period of 2019, the number of corporations registered in the country went from 10,146 to 10,476.

Fewer New Businesses in Guatemala

May 2018

The number of mercantile companies that requested incorporation in the first quarter of the year decreased by 10% with respect to the same period in 2017.

The slow pace with which bank credit to the private sector has grown also reflects the lack of dynamism in the creation of new companies in Guatemala. The corruption cases that have not ceased appearing in the government and the suspension of operating permits, such as those for Minera San Rafael, are affecting credibility and confidence in investments.

New Company Registrations Grow

January 2018

Reports state that in 2017 the registration of mercantile companies in Guatemala grew 10% compared to 2016.

Figures from the Mercantile Registry (RM by its initials in Spanish) also detailed that the registration of individual traders grew by 9.3% with respect to 2016. Dca.gob.gt reports that "...On the other hand, 3 thousand companies closed down, a figure that exceeded 2,040 two years ago."

New Companies Down 9.3% in Guatemala

July 2009

15.178 new companies registered in the Mercantile Registry in the first half of the year, 1.557 less than the same period of 2008.

For the same period, individual merchant registration diminished 15.9%.

"Even though he does not give an exact breakdown by sector, Oscar Lino Marín, Mercantile Registry advisor, indicates that 'most of the new companies belong to the commerce and services sector'", stated an article in Sigloxxi.com.

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