Guatemala Structure

Pursuant to the Guatemalan Commercial Act, a Stock Corporation (in Spanish, “Sociedad Anónima”) must have one of the following organizational structures:

  1. A Shareholders’ General Meeting (in Spanish: “Asamblea de Accionistas”), a Board of Directors or Sole Director (in Spanish: “Consejo de Administración” or “Administrador Único”) and a Supervisory Board (in Spanish: “Órgano de Fiscalización”).
  2. A Shareholders’ Meeting, a Board of Directors or Sole Director, a Supervisory Board and one or more Managers (in Spanish: “Gerentes”).

Pursuant to the Guatemalan Commercial Act, a Limited Liability Company (in Spanish, “Sociedad de Responsabilidad Limitada”) has the following organizational structures:

  1. A Meeting of Members (in Spanish: “Junta de Socios”), one or more Directors (in Spanish: “Administradores”) and a Supervisory Board (in Spanish: “Consejo de Vigilancia”).
  2. A Meeting of Members, one or more Directors, a Supervisory Board and one or more Managers (in Spanish: “Gerentes”).

Please see, respectively, “Shareholders General Meeting”, “Meeting of Members”, “Board of Directors/Sole Directors”, ”Supervisory Board”, “Managers” and “Directors” in the left side menu for a more in-depth description of each structure, including how to change the respective board members.

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BLP has provided all input about changing board members in Guatemala. BLP is a Central [...] American law firm highly regarded for its client service and business oriented advice. Winner of the “Customer Service Award” by Chambers and Partners in 2012, “Law firm of the Year - Costa Rica” Award by Chambers and Partners in 2013 and again in 2015, “Law firm of the Year - Costa Rica” Award by IFLR1000 in 2015 and again in 2016 and Best Central American Law Firm –Silver- 2016 by ILASA, the firm is a one-stop-shop for conducting business.

For more information about BLP and changing board members in Guatemala, please use the below contacts

TEL: +506 2205 3990
EMAIL: mmalcotti@blplegal.com
WEB: www.blplegal.com