The Vice President of the United States of America, Kamala Harris, visited Guatemala on June 6 and 7, 2021. During her visit, she highlighted issues such as the illegal migration of people to her country, state corruption in Guatemala and the promotion of employment formal as an appropriate way for the sustainable development of Guatemalans. Within the plans of the United States in the short and medium term, she highlights the implementation of measures to accelerate economic growth and investment in southern Mexico, Guatemala, Honduras, and El Salvador. Likewise, the participation of different US government offices in the traceability and monitoring of capital and businesses that affect US interests is expected.
This opens opportunities for local and foreign investments that wish to establish themselves in the country and generate employment. In this context, recently the Congress of the Republic approved Decree No. 6-2021 that contains reforms to the Law of Free Zones, allowing the incorporation of new activities to the list of activities allowed to be carried out in this special regime and thus enjoy of tax exemptions.
It should also be noted that companies must strictly observe the country’s anti-corruption regulations and implement compliance programs that generate greater transparency in their operations in Guatemala.
BLP has experienced professionals in legally advising investments with an emphasis on Free Trade Zones, as well as specialized Ethics & Anticorruption lawyers. For more information, contact us at [email protected] or +506 6280 2269 via WhatsApp, Telegram or Signal.