Initiative to Streamline Business Registration

Guatemala has presented a bill to reform the Code of Commerce to reduce the time to it takes for registering a business from 20 to 3 days.

Tuesday, October 7, 2014

From a statement issued from the Congress of Guatemala:

Deputy Felipe Alejos from the legislative bloc Todos, said in a press conference that an Initiative Act has been presented to the Legislative Management which aims to accelerate the Mercantile Register of Entities, which contains 44 Amendments to the Decree 2-70, of the Code of Commerce.

The parliamentarian Alejos said that should this proposal come to fruition, Guatemala will reduce the time it takes to set up a business to just 3 days, currently it takes 20 days. Our country would be placed at the top compared to other Central American countries such as Panama, Honduras and El Salvador, where the timeframe is 6, 14 and 16 days respectively.



More on this topic

Free zones: Reforms Stagnate

September 2018

Two years after having been presented at the Guatemalan Congress, the initiative to reform the Free Zones Law is still awaiting approval.

In 2016, initiative 5174 was presented to the Congress of the Republic, and has been debated in speeches made by deputies and in meetings of the Economic Cabinet of the Executive Power, none of which have resulted in its approval.

Procedures for Registering Companies Simplified

January 2018

With the entry into force of the reform of the Guatemalan Commercial Code, from today a company can be incorporated with $28.

The modifications that already apply were published in the Diario de Centroamérica on October 31, 2017.  Among the most important changes is the reduction of initial capital for the creation of a company, going down from Q5 thousand ($681) to Q200 ($28).

Guatemala: Easier Procedures to Register New Companies

October 2017

With the reform of the Commerce Code approved by Congress the process has been simplified and costs reduced for inscribing a corporation, among other changes.

Main changes in the new Commercial Code:

- A business may be incorporated with ($28) Q200. Each shareholder must pay, at least, 25 percent of the nominal value of each share subscribed. 

Entirely New Customs Law Planned

September 2012

The National Competitiveness Program of Guatemala has announced that the Executive will introduce a draft bill to Congress to replace existing customs regulations.

Under pressure from the Guatemalan business sector, the executive has presented a new initiative to Congress, which has already been agreed with various chambers of commerce, said Juan Carlos Pais, Presidential Commissioner for Competitiveness.

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