Step | Action | Documentation | Signatures? | Timing | Originals? | Notarization/ Certification? |
Waiver of Step? |
Miscellaneous |
---|---|---|---|---|---|---|---|---|
1 |
Convening of MM. |
Convening notice. |
No. |
At least 15 calendar days prior to the MM (unless the AoA requires a longer notice period). |
No. |
No. |
Yes, if all Members concur. |
Convening notice to be sent to all Members (unless the AoA requires otherwise) and published at least 2 times in the Official Journal and in other newspaper of major circulation. |
2 |
MM. |
Minutes of the MM. |
Yes, Minutes to be signed by the Members. |
At the date as stipulated in the convening notice (unless waived, cf. Step 1). |
Yes, to be inserted in the authorized MM Book. |
No. |
No, however, in accordance with the AoA, the MM may take place by electronic means. |
The MM may also take place before a notary who will certify the meeting in a notarial deed. |
3 |
Filing with the Guatemalan Commercial Register. |
(i) Application in written form; (ii) Notarial deed of appointment. |
No, application form and notarial deed may only be signed by the authorizing notary (signature of the appointed person is not mandatory). |
Without undue delay (no specific deadline applies). |
No. |
Yes, notary’s application and specimen signature to be notarized. Also, if the appointed person signs then the signature should be notarized. |
No. |
The Commercial Registry will take approximately 4 business days to register the appointment. |
1
Step 1
|
2
Step 2
|
3
Step 3
|
|||
0-15 days** *However, less than 15 days possible if Step 1 is waived. **The need for notarization may take additional time. |
Step | Action | Documentation | Signatures? | Timing | Originals? | Notarization/ Certification? |
Waiver of Step? |
Miscellaneous |
---|---|---|---|---|---|---|---|---|
1 |
Convening of MM. |
Convening notice. |
No. |
At least 15 calendar days prior to the MM (unless the AoA requires a longer notice period). |
No. |
No. |
Yes, if all Members concur. |
Convening notice to be sent to all Members (unless the AoA requires otherwise) and published at least 2 times in the Official Journal and in other newspaper of major circulation. |
2 |
MM. |
Minutes of the MM. |
Yes, Minutes to be signed by the Members. |
At the date as stipulated in the convening notice (unless waived, cf. Step 1). |
Yes, to be inserted in the authorized MM Book. |
No. |
No, however, in accordance with the AoA, the MM may take place by electronic means. |
The MM may also take place before a notary who will certify the meeting in a notarial deed. |
3 |
Filing with the Guatemalan Commercial Register. |
(i) Application in written form; (ii) Notarial Deed of dismissal. |
No, application form and notarial deed may only be signed by the authorizing notary (signature of the dismissed person is not mandatory). |
Without undue delay (no specific deadline applies). |
No. |
Yes, notary’s application and specimen signature to be notarized. Also, if the dismissed person signs then the signature should be notarized. |
No. |
The Commercial Registry will take approximately 4 business days to register the dismissal. |
1
Step 1
|
2
Step 2
|
3
Step 3
|
|||
0-15 days** *However, less than 15 days possible if Step 1 is waived. **The need for notarization may take additional time. |
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 3990EMAIL: mmalcotti@blplegal.com
WEB: www.blplegal.com