Central America- Tag Archives - Business News and Updates


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Advantages of doing business in Guatemala

Advantages of doing business in Guatemala

Guatemala has experienced significant growth over recent years, turning it into one of the most competitive markets in Central America and a popular destination for investment in the sub-region. Find out about the advantages of doing business in Guatemala. Annual economic growth has only dropped below 2.5 percent on one occasion since 2000, according to the Bank of Guatemala (pdf), while the country's international commerce represents more than 30 percent of Central America's total imports and exports. The government has made great efforts to stimulate Guatemala's foreign direct investment (FDI) and trade with key regional players, and has reached free trade agreements with numerous other Latin American countries, including Colombia, Costa Rica, the Dominican Republic, Honduras, Panama, and El Salvador. Under such conditions, more and more investors are becoming aware of the advantages of doing business in Guatemala. Doing business in Guatemala: geographic location Location encourages doing businesses in Guatemala Guatemala is located in the northern part of Central America and borders Mexico and Belize to its north. As such it forms something of a gateway between North America and the rest of Central and South America. With coasts on the Pacific Ocean and Caribbean Sea, Guatemala also has five important maritime ports, as well as two international airports, providing attractive logistics to commerce. According to data from the Bank of Guatemala, in 2018 the Central American country and Mexico had a commercial exchange that amounted to $238 billion (USD). Meanwhile,...

When Do You Need a Legal Representative in Guatemala?

When Do You Need a Legal Representative in Guatemala?

When incorporating a company in Guatemala, it is mandatory to appoint someone as a legal representative. That person will be a principal local point of contact, representing the company to Guatemalan authorities and taking responsibility for overseeing every aspect of the legal and regulatory processes related to launching the business. Guatemala is one of the largest economies in Central America, with a promising outlook for foreign investment, which offers a host of investment and business growth opportunities. The first step to accessing those opportunities is appointing a reliable legal representative. What type of legal representative in Guatemala do you need? There are three types of legal representatives for companies operating in Guatemala: A legal representative is in charge of representing the company before the Guatemalan authorities. Administrator: The administrator is elected through the General Assembly of Members for a 3-year term, which can be renewed. Manager: Managers can be appointed as the legal representative of a company as long as the legal assignment is granted by the General Assembly of Members. Additionally, the administrator can also appoint the manager as the legal representative of the organization, but only for certain activities.Legal representation through a power of attorney: A power of attorney is granted to a person to act as the legal representative of an organization. The permitted actions and period for which the power is granted must be clearly stipulated. Note that the power of attorney must be issued by the legal representative or...

Nicholas Baker, Trade Commissioner & Counsellor Commercial at Austrade, Shares Insights on Australian Trade Connections and Opportunities

Nicholas Baker, Trade Commissioner & Counsellor Commercial at Austrade, Shares Insights on Australian Trade Connections and Opportunities

Dr Baker shares his insights on Austrade's new client services and trade opportunities in Latin America post Covid-19. This month, Biz Latin Hub’s Chelsea Heywood was privileged to connect with Dr Nicholas Baker, Trade Commissioner and Counsellor Commercial for Australia’s Trade and Investment Commission (Austrade), based in Mexico, Central America and the Caribbean. Dr Baker shares his insights on Austrade’s new client services and trade opportunities in Latin America post Covid-19. Learn about Dr Baker’s experience as a trade professional and the efforts of Austrade to strengthen trade ties in Mexico, Central America and the Caribbean. You have extensive experience in supporting Australia’s trade relations from a number of posts in Europe, South America, and now Central America and the Caribbean. What drives your passion to develop Australia’s trade relations? Helping Australia increase its exports, encouraging productive foreign investment and attracting more international students to be part of Australia’s amazing education sector seem like pretty lofty goals; or almost like motherhood statements. In reality, what has driven me and continues to drive me is that trade, investment and education are linked to people, to aspirations, to innovation, to values, building relationships and bringing something new or different to a country or a region.  Then there is the prosperity it creates, not only in monetary terms but also the exchange of new ideas and transfer of technology that international trade and investment can create. International business is all about expanding...

Perceptions of Doing Business in Latin America: Cautious Optimism For Future Growth and Opportunities

Perceptions of Doing Business in Latin America: Cautious Optimism For Future Growth and Opportunities

In June 2020, the Biz Latin Hub team launched a survey asking for information about individuals’ perceptions about doing business in Latin America. In June 2020, the Biz Latin Hub team launched a survey asking for information about individuals’ perceptions about doing business in Latin America. We received a range of responses from 75 business owners, executives, government officials and other specialists operating in over 40 countries worldwide. 57.3% of respondents are considering expanding into the region in the future, with many expressing cautious optimism at economies' abilities to bounce back after the COVID-19 pandemic. Find out what the key takeaways from our survey indicate about people’s perceptions on doing business in Latin America. Perceptions on doing business in Latin America: who took part? 75 people responded to the Doing Business in Latin America survey. Of our respondents, nearly half (48%) were business owners, operating in Latin America and across other regions of the world, including the United States, Europe, Asia, the South Pacific, and the Middle East. 29 respondents (38.6% overall) were business owners operating in Latin America. Many survey participants were operating across more than one country. Of all respondents, 66 people (88%) noted they were working or operating their business within Latin America, and 39 respondents (52%) were operating outside of the region. A third of all respondents were running or working in a company that operates in 5 or more countries, and 16% of all respondents claimed to be operating across 10 or more...

Register and Protect Your Trademark in Central America

Register and Protect Your Trademark in Central America

Registering your trademark in Central America protects your intellectual property from competitors. A trademark is defined as a unique sign that distinguishes your product or service from others. Once registered, you must take certain steps to protect your trademark regularly. Central America is comprised of 7 countries: Belize, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama. Central America is comprised of 7 countries: Belize, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama. Together, these countries amount to a GDP of US$268.65 billion and a population of 45.524 million people. Registering a trademark in Central America is essential to remain competitive and build a unique brand in the market. Unknowingly misusing an already existing trademark can lead to legal and financial burdens. Be sure to understand how to register a trademark in six of these Central American countries. Likewise, it is also crucial to understand how to manage your exclusive rights to ensure no third parties are using designs identical or too similar to your own. This includes conducting trademark searches, demonstrating commercial application of your trademark, and renewing it when necessary. Benefits of protecting your brand with trademarks Registering your trademark comes with many advantages, including: Protection of the trademark in the country of registrationRight to file legal action against those who violate the use of your trademark for their commercial benefitRight to restrict the import of goods that use registered trademarks that infringe...

How to Conduct a Trademark Search in Central America

How to Conduct a Trademark Search in Central America

Conducting a trademark search in Central America is the best way to protect your business and distinguish it from other companies. It is a crucial pre-emptive step before applying to register a trademark when expanding your business in the region. In this article, we will help you understand all aspects you need to consider to conduct a trademark search in Central America appropriately. Classify your business to conduct an appropriate trademark search in Central America To start a trademark registration in Central America you need to consider the following elements:  The name or brand you want to registerThe product/service you're providing to conduct your business. The registration of a trademark might not be successful if your company/product name is similar to others. In some countries, just the name similarity prevents the registration of the brand. The conflict between two identical trademarks would be a huge setback in the process, as it will take much more time to be completed.  Before applying for a trademark, you need to know how your business is classified according to the Nice Classification. Before you begin: understanding the Nice Classification System Understanding the Nice Classification System is particularly important. It outlines a system of products and services eligible for intellectual property protection, adopted by a significant number of countries worldwide. The Nice Classification System allows users to specify their business activities and therefore, the market that will be covered by their trademark. The Nice Classification System...

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