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INVESTMENT
As Guatemala continues to increase the export of manufactured products, more industries are settling in the country to take advantage of the competitive edge that Guatemala has to offer. This edge includes:
LOCATION AND MARKET
Next door neighbor to the huge market that will be created under the North American Free Trade Agreement: Mexico, United States, Canada (with 360 million consumers), and member of the Central American market (with 30 million consumers). This geographic proximity substantially lowers time and costs of communications and transportation and makes a "quick response " framework possible.
ETERNAL SPRING
Great variety of micro climates (over 300) and volcanic soil, allowing for year-round cultivation of a wide range of products, making agricultural production especially competitive in the winter markets of Europe and the United States.
INCENTIVE PROGRAMS FOR INVESTMENT AND EXPORT
with no limitations on foreign investment, foreign ownership by individuals or corporations, or restrictions on repatriation of capital.
DIVERSIFIED TOURISM
Just 1 1/2 hours from Miami and Mexico City, Guatemala is a paradise for diversified tourism. Points of interest include: the Mundo Maya (Maya World), ecological tourism, colonial monuments, and Caribbean and Pacific Coast beaches.
MODERN AND INTERNATIONAL
Extensive air and sea routes, satellite and cellular telephone networks, a sophisticated financial sector with foreign representations, a strong and organized private sector, and active promotion abroad of commercial activity.
ECONOMIC GROWTH
In 1992, sustained growth in the Gross Domestic Product of 4.8%, surpassing the rate of population growth for the sixth consecutive year. The country's vitality is evident in the great surge in the industries of construction, drawback, export of non-traditional products and tourism. In Guatemala the economy is dominated by the private sector, the government accounts for only 10% of the GNP.
INVESTMENT PROMOTION AND GUARANTEES
Free market economic policies that promote and guarantee foreign investment through fiscal incentives, international agreements and bilateral treaties.
STREAMLINED SERVICES
Establishment of the "One-Stop Windows" for investment and exports, which greatly reduce the paperwork and speed up processing time for the establishment of companies and the issuance of export licenses.
COMPETITIVE LABOR FORCE
Large and skilled labor pool, with great artisan ability. Very competitive salary levels. Executive personnel trained in local and foreign universities.
INVESTMENT POTENTIAL
Variety of opportunities for investment in de-monopolization and privatization of state enterprises, in industry, and in diversified tourism.
ACCESS TO PORTS
On both caribbean and Pacific Coasts through trans-country highway and rail systems.
FREE MARKET POLICIES
The government is committed to lower tariffs and to eliminate the non-tariff trade barriers.
LABOR FORCE
An abundant, young and stable labor force with wage rates that compete very favorably with Mexico and other countries of the region.
BUSINESS ENVIRONMENT
A stable and sophisticated business environment with low inflation, low taxes, a stable currency, and a low incidence of litigation.
SOUND AND STRICT FISCAL MANAGEMENT
keeps the exchange rate stable, inflation low, and government credit lines open from international financial institutions. |
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| First, Try It…
You needn’t be a resident to begin your life in Guatemala. Most foreigners receive 90 days permission as a tourist when they enter the country. An extension of another 90 days is permitted before you must decide what to do about residency status. |
Your Options
There are three basic options for most persons interested in residency.
#1. Temporary Residence: One year. Renewable. Fee Q500 ($65).
#2. Permanent Residency: Five years, Renewable. Fee: Q3,000 ($350).
#3. Permanent Pensionado/Rentista Status for life. No Fee.
Who qualifies as a Pensionado/Rentista?
To receive Resident Retired Citizen status (“Pensionado”) or Investor Resident Status (“Rentista”) you are required to prove pension and/or investment income of US$1,000 per month. You’re required to show additional income of US$200 per month for each dependent.
Becoming a Resident
To become a resident, proof of pension or investment income is required, along with a marriage certificate (if applicable), a “police record” certificate issued by the your police department, a certified photocopy of your passport and a letter of validity of your passport issued by your embassy. (These documents, if not in Spanish, must be translated into Spanish by an “official translator.”)
You can begin the process before coming to Guatemala by working with the Guatemalan consulate nearest you. But, you are not required to attain residency before you arrive. It is possible to reside here up to 180 days as a tourist prior to applying residency residency status.
--www.escapeartist.com | |
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Article ©"Guatemala Lifestyles Magazine"
WHY GUATEMALA?
First it's affordable. A middle-class retirement can buy an improved life style, with plenty left over to support your activities. You can attain a much higher standard of living on your social security, investments and retirement income.
Proximity to the U.S. and Canada. Guatemala has direct air flights to the U.S., with connections to Canada. You do not need to isolate yourself from your family and friends in North America.
No Big Brother Mentality. While there are laws and regulations, there is a strong common sense attitude that does not allow a controlling big brother government mentality.
Perhaps this is because the court system does not support the types of lawsuits often cited north of the border as evidence of our litigious societies. You do not need a variety of licenses and permits, nor do you need to clear your plans with commissions and committees.
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