To invest in Guatemala, it is important to familiarize yourself with the legal and tax context involved in the opening of any business in this country. The steps to succeed in doing this are easy, as the legal and economic conditions surrounding the process are defined within a clear, legal and dynamic framework characterized by tax incentives for new investors.
Register the company
Know the taxes to be paid
Know the tax incentives can be obtained according to the area of business
Mandatory legal implications with employees
Tourist and foreign visitors are allowed to live in Guatemala for no more than 90 days without carrying out any additional procedures, according to the Migration Law. Tourist visas can be extended for an additional 90 days, a total period of 6 months. Following this time period, paperwork bust be processed.
If a foreigner wishes to stay in the country longer, wants to hold a position of public or private work in Guatemala, or looks to be established commercially, he or she must obtain a temporary residency permit. This allows the foreigner visitor to stay in the country for up to 2 years and may be extended for up to two equal periods (a total of 6 years). This way, the person can work officially or invest in the country.
A visa issued for business purposes is valid for 180 days and can be renewed for the same amount of time. The company must authorize the applicant that will be representing.
If a foreigner wishes to reside in the country permanently, he or she can do so after establishing a home address in the country. For this case, foreigners may apply for permanent residency in the following ways:
Foreigners who have permanent income generated outside the country or are beneficiaries of a pension or retirement of governments, international organizations, or private companies may reside in Guatemala indefinitely without engaging in any paid activity.
Foreigners that have been married for at least a year to Guatemalans.
Foreigners who receive income from their operations in Guatemala.