Two years after the Law to Strengthen Entrepreneurship came into force in Guatemala, only 40 companies have been registered under the figure of Entrepreneurship Companies, a situation that is partly explained by the lack of incentives provided by the legal framework.
With the application of the Health Alert System by covid-19, the Guatemalan economy was reopened, however, the operating guidelines and specific health and safety protocols for various economic activities have not been made official.
After almost 100 days of restrictions on the mobility of people and the closure of some productive activities, the Guatemalan private sector is asking the authorities to start evaluating the gradual opening of businesses under strict protocols.
Due to the outbreak of covid-19, the authorities decreed the closure of several economic activities since mid-March, and up to date restrictions to the operation of some sectors are still in place.
In Panama, 13,775 corporations were registered in the country during 2019, 4.6% more than those reported in 2018.
The most recent figures from the Office of the General Comptroller of the Republic detail that between 2018 and 2019, the number of corporations registered in the country grew by 4.6%, from 13,171 to 13,775.
Regarding dissolved corporations, it reported a drop for the years in question, from 7,760 in 2018 to 6,162 in 2019, equivalent to a reduction of 21%. In the case of merged companies, there was also a decrease of 15%, from 353 to 299.
In Panama, during the first eleven months of 2019, 12,763 corporations were registered in the country, 4% more than those reported in the same period of 2018.
The last report of the General Comptroller of the Republic details that between January and November 2018 and the same period in 2019, the number of corporations registered in the country increased from 12,272 to 12,763.
Procomer, an entity that leads since 2016 the project of the Unique Investment Window in Costa Rica, says that 12 procedures related to the opening of companies and entry into the free zone regime, are already in the testing phase.
The aim of the Foreign Trade Promoter (Procomer) is to integrate in a single digital process, the more than 68 procedures that currently must be carried out in different ministries and municipalities to open and operate a business in Costa Rica.
In the Dominican Republic, five new companies have approved permits to operate in free trade zones, which together will make an investment of close to $16 million.
Among the activities of approved companies are: manufacture of doors, windows and boxes, international call center services, and textile manufacturing, reported the National Council of Export Processing Zones (CNZFE).
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.
So far this year, 17 new company licenses have been approved in the country under the Multinational Companies Headquarters regime, a figure that is higher than the 7 that were reported throughout 2018.
In addition to the 17 companies that already obtained their licenses in 2019, there are 7 other companies that are in the phase of evaluation by the Commission of Headquarters of Multinational Enterprises of the Ministry of Commerce and Industry (MICI).
In the Dominican Republic, approvals were granted for the development and operation of four new industrial parks, as well as the respective permits to install 12 new companies in free trade zones.
In the case of the new parks, these will be located in Boca Chica, Valverde, San Cristobal and Santiago, reported the National Council of Export Processing Zones (CNZFE).
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.
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.
Modifications made to the law regulating the SEM regime in the country, would have been the reason for reporting during last year the establishment of only seven new companies of this type.
Among the reforms to the special regime for the establishment and operation of Sedes de Empresas Multinacionales (SEM) made in 2018, it is worth highlighting that companies must have a minimum number of full-time permanent employees, and in addition, a tax rate of 5% was imposed on the net taxable income derived from the services rendered.
28% of the SMEs in Costa Rica stated that obtaining a municipal permit to start operations was the most complex procedure, while another 17% says that the process of registering with the department of Taxation is the most onerous.
According to theIII National Survey of MSMEs, prepared by the State University at a Distance (UNED) and the University of Costa Rica (UCR), for micro, small and medium enterprises (MSMEs) obtaining a municipal patent for operation and registering as a new taxpayer, are the two procedures that most affect the start up of their operations.
Having a minimum of five full-time permanent employees is one of the requirements that companies must meet in order to obtain a Regional Offices of Multinational Corporations license, if a bill from the Varela administration succeeds.
The bill presented by the Ministry of Commerce and Industries (Mici) to the National Assembly contemplates, among other things, the new conditions that must be met by companies seeking to obtain a license as Regional Offices of Multinational Corporations (SEM by their initials in Spanish).In addition, it details a proposed law reform, under which companies must generate annual operating expenses in the country of at least $500,000.
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.
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