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Cheryl Harvey, Seeds of Ayllu Founder Discusses Doing Business in Guatemala and Peru

Cheryl Harvey, Seeds of Ayllu Founder Discusses Doing Business in Guatemala and Peru

Cheryl Harvey shares her perspectives on the challenges of doing business in Guatemala and Peru as a British business owner. Biz Latin Hub's Carina Zambrano had the pleasure of connecting with Cheryl Harvey, Founder and Mindful Director of Seeds of Ayllu Limited and former Country Manager to our office in Lima, Peru. We gained insight into her experience exporting high quality, nutritious, consciously cultivated Brazil Nuts and Cacao from the Amazon Rainforest of Peru and communities in Guatemala to her home region, the United Kingdom. Cheryl shares her perspectives on the challenges of doing business in Guatemala and Peru as a British business owner, as well as the differences in business culture while operating in Latin America.  1. As someone from a small village in the countryside of England, what brought you to Latin America? In 2010, I left England carrying my backpack and in search of adventure. My plan was to travel for 5 months in Latin America and then return to England to contemplate the next step in my accountancy career. Little did I know what this trip had in store for me and that 10 years later I would be living a very different life; living my true life and working in support of the small indigenous farming communities in Peru and Guatemala. 2. What led you to opening your business, Seeds of Ayllu, in Peru and Guatemala? In early 2017, I left behind my management position in Lima, Peru. The major shift came when I spent time in the Amazon Region of Madre de Dios-Peru and did deep inner work with native plant medicine. I now have an incredibly...

July 2020 Regulatory Update: South and Central America

July 2020 Regulatory Update: South and Central America

Our professionals report notable regulatory updates for July 2020. Biz Latin Hub’s team of legal and accounting specialists operating across all key markets in Latin America report the following notable regulatory updates for July 2020 in Bolivia, Brazil, Chile, Costa Rica, Guatemala, Mexico, Panama, Paraguay, and Uruguay. We support foreign companies in Latin America comply with all corporate regulatory compliance obligations to ensure their success in new markets. For more information on how we can support your regulatory and annual compliance needs, contact us today. Bolivia RegulationDetailsOfficial Statement N° 37/2020   On 14 July, the Ministry of Labor announced that daily labor activities in private and public entities can last for up to 6 hours. Companies must alternate staff between working in their designated office and home-office working arrangements. Brazil RegulationDetailsOrdinance 340Prohibition of entry of foreigners in Brazil from 1-30 July.    Exceptions: 1. Immigrant with permanent residence; 2. Foreign professional on mission in the service of an international organization, as long as duly identified; 3. Passenger in international transit, as long as the passenger does not leave the international area of the airport and the country of destination admits his ticket; 4. Foreign employee accredited to the Brazilian Government; 5. Foreign national, spouse, son, daughter, father, mother or curator of a Brazilian; whose entry is specifically authorized by the Brazilian Government in view of the public interest or for humanitarian...

How to Form an NGO in Guatemala

How to Form an NGO in Guatemala

Find out how to form an NGO in Guatemala to support social causes through nonprofit activities.  Guatemala continues to experience economic stability with a GDP growth rate of 3.6 percent in 2019. Moreover, the strategic location and a great number of natural resources place Guatemala as a country with great potential to develop socially and economically.  The Guatemalan government is dedicated to promoting the creation of NGOs in the country by offering benefits to interested parties. The Guatemalan government is dedicated to promoting the creation of NGOs in the country by offering benefits to interested parties. This is part of a wider initiative to improve social welfare in the country. Forming an NGO in Guatemala would benefit you and the social development of the country. Furthermore, executives must consider that Guatemala has an estimated growth of 4.4% for 2021, offering an increasingly attractive market to establish an entity.  Why establish an NGO in Guatemala In Guatemala, there are many opportunities to improve the social environment, and forming an NGO is the perfect method for doing it. Some areas of action that needs the support of private and public entities in Guatemala include:  Education Planning for families living in povertyCombat malnutrition Housing Environmental protection. Forming an NGO in Guatemala allows people to manage donations and start initiatives in order to accomplish social objectives.  Types of non-profit and non-government organizations Guatemala The constitution of the NGO is regulated by...

Manage your Business Risks with Due Diligence in Guatemala

Manage your Business Risks with Due Diligence in Guatemala

When doing business in Guatemala, managing your business’ risks with due diligence practices is essential to its success and longevity.Language and/or cultural barriers, understanding the market and the way of handling businesses are challenges that foreign business owners face when expanding abroad. Buying existing companies or partnering with locals are key ways to reduce these challenges and get support navigating an unfamiliar market. However, it’s imperative to protect yourself when undertaking either of these processes by conducting thorough due diligence checks in Guatemala of the companies and people you will surround yourself with.Find out more about due diligence in Guatemala and how to manage your business risks. What is due diligence in Guatemala?  Due diligence refers to the process of thoroughly reviewing and analyzing available information of a company. Due diligence refers to the process of thoroughly reviewing and analyzing available information of a company. The focus of this analysis is primarily set on economic, legal, tax and financial circumstances of a company.  What is the purpose of due diligence?  The general purpose of due diligence is to conduct a risk assessment as part of the process of buying a company, hiring new staff or partnering with other organizations. However, conducting due diligence in Guatemala brings more advantages.The main objectives of a due diligence analysis are:  Reduction of information asymmetries between buyer and sellerEstablishing a basis of trust between buyer and seller through transparencyAnalysis of...

5 Tips for US Companies Doing Business in Guatemala

5 Tips for US Companies Doing Business in Guatemala

Find out benefits and opportunities for US Companies Doing Business in Guatemala. Guatemala's size and economic potential offers one of the best options for business expansion into Central America. Guatemala is the third-largest country in Central America, with just over 17 million inhabitants. Its main location for commercial activity is Guatemala City. The official currency of Guatemala is the Quetzal, and its strength offers a significant advantage when expanding into the country from abroad. It is important to have the option of diversifying investments and sources of income, and Guatemala offers key advantages to business. As a US company doing business in Guatemala, use these 5 tips to optimize your experience and achieve long term success. Around 70% of the population in the country is under 30 years old and in the last decades, the number of English speakers has increased significantly. 1. Find talented staff Guatemala is rich in cultural history and custom. The country's workforce is well-educated and open to new opportunities. The government holds a positive predisposition to collaborate with foreign businesses. In addition, it is important to take into account that a large proportion of Guatemalan nationals manage a fluent level of English. Around 70% of the population in the country is under 30 years old and in the last decades, the level of people speaking English has increased significantly. When hiring in Guatemala, rest assured in the availability of enthusiastic, qualified staff. Foreign employers who are not familiar with the local employment regulations...

Aspirations for Technology and Innovation in Guatemala Textile Industry

Aspirations for Technology and Innovation in Guatemala Textile Industry

Guatemala demonstrates strong aspirations for technology and innovation in the textile industry that expanding companies should take note of. The textile industry is responsible for transforming raw materials into a finished product, and is a crucial element of supply chains worldwide. In Guatemala, clothing manufacturing is popular and is looking to innovate. Guatemala profits from the Dominican Republic–Central American Free Trade Agreement, and could also benefit from the trade dispute between China and the USA. Many manufacturers are looking to move their production to more profitable locations. The demand for more sustainable production processes rises, and supply shortages from Asia and other parts of the world place Guatemala in an advantageous position. Now technology and innovation could help boost textile businesses in Guatemala to increase productivity. What are Guatemala’s aspirations? Key facts of Guatemala’s textile industry Did you know: There are about 169 apparel factories in Guatemala, most of them Korean-owned90% of production is exported to the USMost popular items of productions are cotton and synthetic knit tops, cotton woven and knit cotton trousers, pants, and shortsExports of textile companies reported an average annual growth of 2% between 2010 and 2019. New technology to lower cost and increase productivity Automation is one of the technologies and innovation to achieve aspiration in Guatemala's textile industry. In order to strengthen Guatemala’s competitiveness, the industry relies on the use of software and systems to improve operations....

What are the Types of Legal Entities in Guatemala?

What are the Types of Legal Entities in Guatemala?

In order to set up a business, it is important to understand the types of legal entities in Guatemala. Central America has become a place for foreign multinationals interested in doing business across North and South America. Central American countries have a lot to offer to foreign and local companies, such as tax benefits, special economic zones, and access to the Atlantic and Pacific Oceans. Guatemala maintains a number of free trade agreements for businesses to obtain certain benefits for the sale of products within the region. Expand into Guatemala by establishing a company with the right legal entity for your business. We give a general summary of the types of companies or legal entities in Guatemala that you can choose from to do business, and most essential elements of these. Types of Legal Entities in Guatemala A Limited Liability Company is known as Sociedad de Responsabilidad Limitada in Guatemala, and can be formed with up to 20 partners. There are several different types of legal entities in Guatemala to incorporate your company. Each legal entity offers different conditions and governance structures to suit varying business needs. The legal entity you choose will influence the amount of capital to invest, economic activities to be carried out, how many shareholders you will have, and other factors. The most common types of legal entities that are usually used to establish a company are included below. Limited Liability Company (Sociedad de Responsabilidad Limitada) The Limited Liability Company (LLC), or Sociedad de Responsabilidad Limitada in Guatemala can...

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