Check uniqueness and reserve the company name
Agency: Notary Public
The notary has to conduct a company name availability search on the website of the Mercantile Registry of Guatemala.
The company name can be also checked directly at the Registry.
Time and cost: 3 days, GTQ 50 for each name
Deposit the subscribed capital
Agency: Bank or administrator
The legal representative opens a bank account and deposits the subscribed capital. The bank will require a bill of any public service with the address of the new company. The deposit slip is presented to the notary.
Some banks require a statement letter from the Notary with the general information about the corporation (name, legal representative, comercial name and initial subscribed capital).
Companies with a capital lower than GTQ 2,000, have the option to deposit the capital at the bank or with an administrator.
Time and cost: 1 day, no charge
A notary public draws the deed of constitution
Agency: Notary Public
The notary issues a certified copy of the deed and draws the appointment of the legal representative (Sole Administrator or members of the Board), who has to be personally registered before the Tax Authorities.
Time and cost: 1 day, included in procedure 4
Registration and payment of the fees online by a notary, publication of the edict on the Registry’s website and opposition period for affected third parties
Agency: MiNegocio (Commercial Registry)
The notary completes the forms required by the Commercial Registry (Registro Mercantil) online (https://minegocio.gt/).
The following forms are required by the Commercial Registry:
- Certified copy of the deed of constitution
- Appointment of legal representative
- Bank receipt if the capital is superior than GTQ 499.999.
The notary also pays online the amount required by the Registry. The fees are as follow:
GTQ 5,000 average notarial fees + GTQ 250 stamp tax + GTQ 300 notarial stamp tax for the certified copy + GTQ 30 edict + GTQ 200 publication of the edict.
Then the registry will proceed to the company’s incorporation, tax registration, issuance of commercial license (patente) and edict publication.
Time and cost: 8 days, see procedure details
Register the company’s employees at the Guatemalan Social Security Institute (IGSS)
Agency: Guatemalan Social Security Institute (IGSS)
Entrepreneur must go to the Guatemalan Social Security Institute (IGSS) offices to register the company’s employees in the system. Registration is mandatory for companies with 3 or more employees and it is made at the Sección de Inscripciones en la División de Registro de Patronos y Trabajadores. The following documents are required: certificate of company registration, appointment of representative, company deeds, identification document of the representative and the list of employees to be registered.
Time and cost: 1 day, no charge
Register the employees’ contracts with the Ministry of Labor
Agency: Ministry of Labor
According to the Labor Code, companies with more than 3 employees need to register the contracts of the employees with the Ministry of Labor.
Time and cost: 1 day (simultaneous with previous procedure), no charge
