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Compliance Management Best Practices in Guatemala: A Guide for Investors

Guatemala, located at the crossroads of North and Central America, has emerged as a growing prospect for investors due to its strategic location, large economy, and significant export products. However, navigating financial regulatory compliance in Guatemala can be complex and challenging for foreign businesses.

The Consequences of Non-Compliance

Failure to comply with financial regulations can result in legal issues or financial penalties that could adversely affect your business and diminish your company’s standing in the eyes of local authorities.

Entity Regulatory Compliance in Guatemala: Key Responsibilities

While financial regulatory compliance in Guatemala can vary based on the type of company, the following aspects of corporate compliance are generally applicable to all:

  • Holding an Annual General Meeting (AGM) of Shareholders
  • Filing and Payment of Value-Added Tax (VAT)
  • Withholding Tax
  • Additional Salary Bonuses
  • Statutory Contributions
  • Transfer Pricing Studies (TPS)

Based on our extensive experience, we have identified the following common questions and doubts that clients may have regarding entity legal compliance in Guatemala:

  • What are the common statutory appointments for a company in Guatemala?
  • Is a registered office address needed for a legal entity in Guatemala?
  • How often must companies update their fiscal address data in Guatemala?
  • What is the deadline for appointing a Tax Auditor in Guatemala?
  • When must a General Shareholders Meeting be held in Guatemala?

Simplifying Compliance Processes

To simplify processes, Biz Latin Hub has designed an Annual Legal Calendar with fundamental responsibilities that every company in Guatemala must attend to.

Important Disclaimer

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.