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Guatemala Company and bank account for lottery business?

predator

predator

Active Member
Jul 22, 2016
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#1
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Hi Guys,

I need to know what the rules are in Guatemala in matters of company formation and bank account opening there for a lottery / gambling business?

I know that in Costa Rica it is allowed but they can't open bank accounts because of the nature of business. Now I was wondering how the rules are in Guatemala, does someone know?

I need a complete setup please.
 
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#2
Hi! It is about the same, in fact if you want to open a lottery business in Guatemala you have to use a Non Profit Organisation to support your income. According to law gambling is forbidden. Nevertheless there are a lots of casinos in the country that work hidden under a NPO. According to law all the income from lottery has to go the a NPO account that helps children or poor people.

So for lottery/gambling purposes there is no way you can open a corporation in Guatemala.
 
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#7
The problem may be more the banking than the company formation there.
 
#8
It's always the banking for Adult business that is the problem it seems. There are still a few banks available in Latvia that accept Adult Entertainment.
 
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#14
jrmb said:
Is more complicated with banks than opening a corporation.
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ahh usually the same problem all over the planet. Do you have an idea of the basic requirements for account opening with an Guatemala bank?
 
#16
Admin said:
ahh usually the same problem all over the planet. Do you have an idea of the basic requirements for account opening with an Guatemala bank?
Click to expand...

If you only want to get a bank account for wiring money and then taking out, they ask you all the documents duly translate into Spanish and a power of attorney to a Guatemala lawyer so he can open the bank account on your behalf.
If you want to get a credit card processor then you need to open the corporation in the country and then you can get the processor.

The easiest of course is to open a bank account with a Guatemalan corporation, it takes usually one hour to get the bank account number and 5 days to get the check book and Internet token (when all the documents are delivered)
 
#18
bkkbob said:
Hi this is to JRMB would you please supply contact details for your law firm
Tks
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Hint! You may use the @ when you tag a person here or use the REPLY button to quote people.
 
#19
jrmb said:
Admin can I upload a chart with prices?
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No, you need to pay for advertising space otherwise it get deleted. You can list the fees for the service people ask for here, that's OK so we consider it to be a help! otherwise it is hidden advertising which the entire thread already may be considered as.

You could also consider a VIP membership for only €135 per year and get a signature with links to your services ;)
 
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#20
@Admin then can I list what does the package include?
 
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