Rebeca Baldizón
Associate - guatemala
Guatemala has taken an important step toward strengthening its regulatory framework for the prevention of money laundering and terrorist financing with the approval of Decree 15-2026, which enacts the new Comprehensive Law for the Prevention and Suppression of Money or Other Assets Laundering and the Financing of Terrorism (hereinafter, the “Comprehensive Anti-Money Laundering Law”). The new legislation replaces the regime that had been in force for more than two decades and, for the first time, brings together in a single legal instrument the main provisions governing the prevention of money laundering and terrorist financing.
The reform responds to the objective of strengthening Guatemala’s system in accordance with the standards promoted by the Financial Action Task Force (FATF) and the Financial Action Task Force of Latin America (GAFILAT). In a context in which Guatemala seeks to consolidate a modern regulatory framework and strengthen the effectiveness of its prevention system in anticipation of future international evaluations, this update contributes to reinforcing transparency, trust, and legal certainty in the business environment.
Beyond this context, the new law introduces changes that will have a direct impact on how many companies manage corporate compliance. Below are some of the most relevant aspects to consider before it enters into force.
A New Approach to Compliance Management
One of the main changes is the adoption of the Risk-Based Approach, under which each Reporting Entity must identify, assess, and mitigate the risks associated with its operations, taking into account the characteristics of its business, its customers, and the nature of its activities.
In practice, this means that compliance programs must be tailored to the reality of each company. Due diligence policies, monitoring mechanisms, and staff training must be developed based on each organization’s risk profile. In this way, compliance is no longer understood as a merely documentary exercise but rather as an ongoing risk management process.
More Companies and Sectors Become Subject to the Preventive Regime
The reform also significantly expands the scope of Reporting Entities. In addition to the entities traditionally supervised by the Superintendency of Banks, it incorporates new economic activities, including real estate promotion and brokerage, virtual asset service providers, and those providing services related to the creation, administration, or representation of legal persons or legal arrangements.
It also establishes a special regime for certain professionals who provide legal, accounting, or auditing services independently, as well as for notaries when they participate in certain transactions on behalf of their clients.
As a result, many companies will experience more robust due diligence processes during the structuring of corporate transactions, acquisitions, company incorporations, or real estate transactions.
Greater Corporate Transparency
The Comprehensive Anti-Money Laundering Law strengthens the identification of the beneficial owner for the purpose of determining who exercises effective control over, or receives the economic benefit from, a legal person or legal arrangement. This aspect is particularly relevant for corporate groups with complex ownership structures, trusts, or indirect ownership through different entities.
The reform also introduces amendments to the Commercial Code relating to the share register and the registration of management bodies. These obligations are not limited to Reporting Entities but also apply, in different respects, to commercial companies incorporated in Guatemala. It is therefore advisable to review corporate information in a timely manner and verify that it is duly updated.
How Should Companies Prepare for the Law’s Entry into Force?
Although the Superintendency of Banks must issue the regulations that will develop various operational aspects of the new legislation, companies can use the period before the law enters into force to prepare.
Among other actions, it is advisable to determine whether the company qualifies as a Reporting Entity, review its internal compliance procedures, strengthen mechanisms for identifying the beneficial owner, and verify that its corporate information, particularly the share register and the composition of the management body, complies with the new legal requirements.
Preparing in advance will facilitate compliance with the new regime and contribute to strengthening internal compliance mechanisms, corporate governance, and risk management.
More Than a Regulatory Reform
The Comprehensive Anti-Money Laundering Law represents an important step in strengthening Guatemala’s regulatory framework. In addition to modernizing the prevention regime, it reflects the growing importance that corporate governance, risk management, and transparency have acquired as essential elements for business development.
For companies already operating in Guatemala, as well as those considering developing projects in the country, understanding these changes in a timely manner will make it possible not only to comply with the new legal obligations but also to strengthen their internal processes and align with international standards that are now part of business best practices.
BLP: Your Strategic Partner in Addressing New Regulatory Challenges
The entry into force of the Comprehensive Anti-Money Laundering Law represents an opportunity for companies to strengthen their compliance programs, corporate governance, and internal processes. At BLP, we assist domestic and international companies in identifying the impacts of regulatory reforms and in designing and implementing compliance strategies aligned with their business objectives. Our team combines legal experience, knowledge of the business environment, and a regional perspective to provide practical, strategic advice focused on generating value for our clients.