Guatemala’s 2023 Business Guide

By Mayora IP

The Ministry of Economy and the Chamber of Industry of Guatemala jointly released Guatemala’s 2023 Business Guide, a bilingual publication annually launched with the goal of promoting investment and generating more and better business and employment opportunities in the country.

Guatemala is the largest economy in Central America in terms of Gross Domestic Product (GDP) and is increasingly open to the world. In recent decades, it has made significant progress in terms of economic liberalization, improving its qualifications regarding economic, social and political globalization.

Developments have also been made through the National Competitiveness Program -PRONACOM-, which is made up of a specialized and technical team in the main investment economic sectors that is ready to provide technical support throughout the investment process.

Furthermore, the country has been taking important steps for economic acceleration, implementing digital economy processes or e-government, through the Single Window for Investments, a virtual tool that works as a single point of attention to know all the requirements to settle in Guatemala.

Among other issues, the 2023 guide provides information on the process, time, estimated cost, and documents required to perform the main business procedures, some available online, among them:
-Company registration (local or foreign).
-Trademark and patent registration
-Tax payment.
-Registration as an exporter or manufacturing plant.
-Work permits for foreigners with residency.
-Sanitary permits