The charter of the corporation must be executed in a public deed. A certified copy of the public deed must be filed at the Commercial Registry within thirty days of the corporation's charter. After verifying compliance with legal requirements, the Commercial Registry provisionally registers the corporation. One notice of the registration request must be published in the Official Gazette and one other local newspaper. If no opposition is tendered, the Registry proceeds with final registration.
Limited partners have no management voice in the operation of the firm.
Stockholder responsibility is limited to the amount of shares purchased. The corporation must have a board of directors, or a sole administrator, and must record annual stockholders' meetings in a minute's book duly authorized by the Ministry of Finances and the Commercial Registry. No limits are placed on the number or percentage of foreigners serving on the board of directors of a Guatemalan corporation. Corporations are required a resident manager who must be a resident alien with a work permit or a Guatemalan citizen. Shares may be issued to the bearer or made out to the stockholders' name.