In 1919 Guter formed his own production company, "Centaurfilm", and in 1920 released "Die Frau im Käfig" ("The Woman in the Cage") his only foray as a producer. In 1920 he signed a contract with Erich Pommer, and during the 1920s his films took on a more fantastical slant, but he also directed melodramas and comedies. His most significant release during this period was his 1925 film "Der Turm des Schweigens" ("The Tower of Silence"), which became the first of Guter's movies to be restored and was re-premier at the 2007 Berlin Film Festival. The 1920s also saw Guter directing films with some of Germany's most popular actors, including several films with Willy Fritsch: "Blitzzug der Liebe" (1925), "Die Boxerbraut" (1926) and "Der Tanzstudent" (1928). Despite his connection with the German film industry, Guter spent much of the 1920s living in Latvia, where he spent time attempting to build a Latvian film industry.