Have you wanted to start your own company but have no knowledge of the Requirements to be a Merchant? Here we will tell you all the procedures that this entails in great detail and other factors that influence the decision of this work. So continue on this web page to find out about this news.
For there to be security and reliability in the sale or purchase of any type of article, a series of norms that are established by the Guatemalan Commercial Code must be met. If you are interested in everything in knowing how you can be a merchant, its aspects, obligations and much more regarding the subject,Keep reading, and write down the information of your interest!
What are the requirements to be a merchant?
The production indicators in Guatemala are under development. However, it ranks first in the Central American economy. That is why this does not require many Requirements to be a Merchant.
With this, it is sought that the economy of this country is capable of generating greater comfort and satisfaction to buyers. If you are interested in how you can be a merchant to start your business through legal channels, Check the following points!
- Those people who have the legal capacity of workr that is, that it can obtain rights, contract and exercise obligations without the permission of one ministry or another.
- The interested citizen has to carry out the business action in a general and daily way without corrupting the indications that were stipulated in the law in other words, that it is within the legal margin.
- Next, the resident who wishes to acquire this job must take this commercial activity as an ordinary occupation, which will cause his income to depend on it.
- Must be listed in the Public Registry of Commerce of the place where your establishment is located or where it is working.
- That Guatemalan who is interested in exercising this activity but has gone bankrupt on previous occasions. This has the possibility of demonstrating that it is legally recovered.
- Any person who has been prohibited from any right by court order through interdiction. This will be denied the opportunity to work as a merchant.
- To finalize your process you have to fill some legal and administrative requirements of the area in which it is developed.
- Note: In the event that the individual is not resident in the country, request a legal permit to carry out this activity in all legality.
Legal Aspects to Be a Merchant
Although the citizen must respect the rules stipulated by the commercial code. This in order to maintain order in the world of the market. To be successful in your development as a merchant, we will give you the legal aspects that you must take into consideration, which are:
- Commercial law: They are a set of legal rules that is used for all transfers and exchanges classified in goods that are carried out.
- Commercial Code: According to the Guatemalan Commercial Code, it establishes in article 3 that a person who does not present any problem with their legal capacity, can freely transform this action as their ordinary occupation. Likewise, the communities formed in accordance with commercial regulations and agencies must be located strictly within the territory.
- Territory: Those who are merchants are subject to commercial law. In the same way, citizens who accidentally committed a business movement, despite not having an established premises, will be subject to commercial legislation.
- Note: In the case of requesting a document, you can go to the official website of Commercial Registers or call the private telephone (505) 2317-3434 from 8:00 am to 4:00 pm
Registration to Become an Individual Merchant
Once the Requirements to be a Merchant and its characteristics, mention will be made of the registration so that you can exercise your business individually. If you are interested in knowing the steps Keep reading and write down the most important points!
The guidelines that will be given are:
You must pay Q 75.00 for registration and Q 100 directed to the company, you can choose the branch closest to where it is located that is Banco de Desarrollo Rural, SA
Consign in the Mercantile Registry in a legal-size folder:
- You must obtain the form filled out with your personal data in the required fields. This must be signed by the applicant and notarized.
- Duplicate of the candidate’s Personal Identification Document.
- Proof of payment made at the bank agency. Likewise, the realization of a balance of an expert accountant who is registered in the Superintendency of Tax Administration (SAT), where the name of the company, owner and have a minimum finance of Q 2,000 is reflected.
- You need to settle the Q 50 tax stamps for the commercial patent of the particular company.
- Note: Attention! That citizen has the option of making purchases and sales within the country must obtain an authorization from “Individual trader”.
For the resident who is starting his business, he is advised to register as a “small taxpayer”, since generally a maximum of Q 60,000 in merchandise is sold.
In the case that the taxpayer already has a Tax Identification Number (NIT), he will have to acquire the application for individual merchant mentioned above. This can be bought in a bank branch of Desarrollo Rural, SA, it has a cost of Q 2.00. Finally, you have to verify that your Unique Tax Registry (RUT) is updated.
Are you aware of what the Guatemalan Commercial Code is and what is its purpose? In the area of laws, it is a set of basic rules of commercial rights that create criteria, order in commercial relations in order to regulate them in a unitary way. Said writing is the basis of these activities throughout Guatemala.
At the beginning of 18 in the time of Napoleon Bonaparte, with the French Revolution and the globalization of the economy, more than one hundred (100) years ago, the first signs of the laws that establish regulations for commercial processes and regulate prices are seen. established, banking law, insurance, among other things.
This code was managed by royalty and the authorities, which caused a mismanagement of it, exploiting citizens with their work. However, this made it change over time, thanks to the analyzes that were carried out, which made it fair, impartial and transparent in the exchange of goods.
The Guatemalan government has introduced various segments for different companies that can be founded. As well as for foreign companies, only the Requirements to be a Merchant.
We advise you to read this book of ordinances that was very well structured that has generated great acceptance by civilians. Go and watch it, you won’t regret it!
Obligations and Duties of Merchants
Having read all the Requirements to be a Merchant that are requested to exercise freely in the financial world, now you must take into account that this implies a series of obligations and duties that will take responsibility in the person.
- In the first place, the citizen must be strictly registered in the Public Registry of Commerce.
- Next, it has to publish the data and information of commercial quality at the time it is required.
- As well as, the person must have updated accounts and expenses with their respective receipts of bank or commercial movements. They are advised to be accurate in delivering receipts.
- Fourth, you must have accounting books where the duty and credit are recorded and the accounts of the company are maintained.
- In the same way, it is very important that you take care of bank emails and also commercial invoices, in case there is any inconvenience.
- And last but not least, all merchants must be members of one of the chambers of commerce.
This indications are easily acquired by the Guatemalan citizen, So there’s no excuse!
What is Being a Merchant?
That individual who continuously and permanently participates in the market to provide a service, good or product that is priced in order to obtain a profit, is called a merchant. Currently there are two types, which are:
- The individual: It is made up of people of natural origin who carry out the negotiation and transaction of a merchandise in an abundant way.
- The social: It is made up of various workers in an association or company, who agree on the production of products or services that they offer to benefit. This is carried out by means of a Public Deed or Solemn Contract, legalized by means of an official.
- All that are public brokers, those accused of accusations against property and notaries.
We come to the end of the page. We will advise you that you must carry out all your movements and commercial operations and businesses within the margins determined and described in the law.
We hope that this page has been of great help and that you are able to answer all your questions.
Thank you for your attention, we will see you!
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