Every day more Guatemalans are looking online for what they are the requirements to register a company in the Mercantile Registry currently. The reason for this is that this is one of the most important steps for you to the business operates legally within the national territory.
And it is that, as in all countries, the issue of business registers it’s extremely important for the state administration today. Do you want to know more about the requirements to register a company in the Mercantile Registry? Are you interested in knowing better what this registry is?
Then keep reading why you will find everything!
What is the Commercial Registry
Before talking about what are the requirements to register a company in the Mercantile Registry, you need to know what is the Mercantile Registry. And it is that within the entire bureaucratic world of Guatemala one of the most important operations that can be carried out are in the Mercantile Registry.
The reason for this is that this registry is in charge of register everything related to trade within the Republic of Guatemala. In fact, this is something of the utmost importance because is the way to keep track of all commerce and transactions.
Thus, no company has the facility to do tax evasion or other illegal actions that have to do with commerce.
In this way, it is obtained that the Mercantile Registry also has the obligation to certify commercial actions that are taken within the republic.
And not only within the Republic, but also within all companies and businesses that are based within the territory of Guatemala.
This is to avoid that, through international transactions, there is illegal acts that may affect Guatemalan citizens or workers in any way.
In fact, the Commercial Registry is so important to the country’s economy that is attached to the Ministry of Economy of this nation of Central America.
And is that, anyone who wants to do economic activities in Guatemala, the first thing they should do is go to the Mercantile Registry as a mandatory step.
Requirements to register a company in the Mercantile Registry
The truth is that the requirements to register a company in the Mercantile Registry they are not complicated at all for any entrepreneur today.
In the event that you do not know what are the requirements you need here we leave you a list with everything they are going to request:
- The first thing you will need is an Individual Merchant and Commercial Company Registration Application form what can you download clicking here.
- In the same way you will need to pay 100.00 Q in Banrural according to the type of company that is going to be the one you register in the Registry.
- You will also need to bring the payments you have made in relation to the company, such as the one you did in Banrural for the record.
- In the same way, you will need to bring, in a photocopy format, that is fully legible and if possible in color, the Personal Identity Document.
- It will also be necessary a legal size folder in which you can place all the documents that are requested by the registry office.
- In the same way you will have to place a tax stamp of 50.00 Q to the form once it has been completely filled out.
- In the event that the company is from a foreigner or a foreigner is the one that represents it will have to bring a photocopy of residence.
- Likewise, it is also important to highlight that, if a company with several owners is registering must submit a form for each owner of this.
- They may also ask you the receipt of a service of your residence in which your name appears in a fully legible way.
- If you do not have a NIT you must also present the SATRM-02 filled only with all the information that corresponds to all your personal data.
Once all the requirements to register a company in the Mercantile Registry are at hand, the simplest thing is is the inscription.
The reason for this is that everyone is expected to be able to register their company without need to hire third parties.
In this way, the procedure can be completed. in just five steps for those people who are starting the process from scratch.
However, it is important to mention that this procedure is done only in a personal way and it cannot be done online in any of the cases.
The reason for this is that you should go directly up to one of the Mercantile Registry agencies to do the procedure correctly.
If you do not know what are the steps you must follow to register your business in the Mercantile Registry here is a very complete guide:
- The first thing you have to do is Obtain the Individual Merchant and Commercial Company form that we explained in the previous section, the first point.
- Once you have it you have to fill out the form on computer or on a typewriter, although this is something rarely seen.
- Then you must go to the Banrural Bank of the Mercantile Registry to make the payment of 100.00 Q to make the start of the proper registration process.
- When you have done this you must deliver in an orderly manner at the window all requirements that were mentioned in the previous section of this article.
- Finally you should only pick up the Commercial Registry patent at the window and put a 50.00 Q stamp on it and that’s done.
What is the SAT
A question that many people have when they are looking for the requirements to register a company in the Mercantile Registry is what is SAT.
And this is something very logical because the SAT is one of the institutions or organizations that more importance they have in the administration.
In fact, SAT stands for Superintendency of Tax Administration, which is the institution in charge of all the taxes of the Republic of Guatemala.
In this sense, it is important to highlight that it is one of the agencies newest in state, since it began in 1997.
It was not only born with the idea of being a better organized tax agency but also of modernize the state and to their systems.
And it is that, at this time there were a problem with tributes since its payment was something extremely complicated for the citizens of the average.
However, it was no less complicated for the public administration, since there were always mistakes and confusions in the taxes of the people of the country.
In this way they start talking about creation of an organism that would regulate in a better way everything related to taxes.
In addition to this, it must be added that it was part of the peace accords program with the idea of being able to deal better with economics.
Finally, it should be mentioned that the SAT is part of the Ministry of Public Finance and it only owes answers to this institution in the country.
Another question people ask themselves when hearing about the SAT is what functions does this organism do currently for all of Guatemala.
And the truth is that it has a very important specific weight within the political fabric and also economic of this nation of Central America.
Among the functions that stand out the most of the Superintendency of Tax Administration we find the following:
- The first of all is administer the tax regime of the nation so that everyone pays in a correct way.
- In the same way it also has the function of take care of all customs and of the payment regime that they must make in these.
- They also have to establish mechanisms to regulate prices in the event that it is necessary to do so for contingencies.
- Must properly maintain records of all the people and companies that make life within the Republic of Guatemala.
- At the same time they also have to be in charge of everything related to fiscal policy throughout the nation of Central America.
- Finally they have to be in charge of guarantee legal actions against all those individuals who do not comply correctly with their tax rates.
Bodies and dependencies
And it is that this body is in charge of a good part of the Mercantile Registry at the moment, being made up of:
- The Directory: who is the head of the entire institution, being the one who makes the decisions.
- Administrative Tax and Customs Court: It is who is in charge of applying the tax laws.
- The Superintendent: it is who administers and represents the SAT.
- Municipalities: They are the offices that are in charge of complying with the SAT.
How can you see the requirements to register a company in the Mercantile Registry they are not complicated at all.
And with this guide anyone could get it!
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