As with every country around the world, banking in Guatemala is a unique opportunity to expand your company’s investment potential. However, to navigate the banking system you must know the banks in Guatemala laws and regulations. Almost half of the banking assets in Guatemala reside in five of the largest banks. The government also plays a much larger role in the banking system than in the United States. The central bank of Guatemala is responsible for currency stabilization.

Guatemala banks operate under the Basel convention, which requires each bank to maintain a certain level of capital. Besides the capital requirements, banks in Guatemala have a more stringent set of rules for international deposits than other Central American countries. These rules protect the security of a company's deposits. However, before you can understand these regulations it's imperative to understand the basic of the banking system and the economy of Guatemala. For assistance in the process of reviewing the regulations for Guatemalan banks, there are few items to consider:

1. Understand the Guatemala banking and economic regulatory basics.

2. Outsource assistance with the regulations of the commercial banking in Guatemala.

3. Review the latest Guatemala banking regulatory news and information.

Action Steps
The best contacts and resources to help you get it done

Examine the essential elements of the banks of Guatemala

In order to know the laws and regulations of any Guatemala bank, you need to know how the banking system and the economy interact. Once you know the structure of a Guatemala bank account, you can begin to understand the regulations that govern these accounts.

I recommend: Study the regulatory information available at the National Law Center for Inter-American Free Trade. Assess the investment climate statement from the US Department of State. Purchase the Guatemalan finance report available at The Economist. For more information on the capital requirements of commercial banks in Guatemala, examine the report at the Bank for International Settlements.

Evaluate the Guatemala banking services from regulatory specialists

Foreign banking can be complicated and it's often best to consult with companies that specialize in the laws of a given country's banking system. That way your company won't have to reinvent the wheel. These entities are well versed in navigating the Guatemalan banking system.

I recommend: Contact the offices of Panama Legal for advice on the Guatemala banks. Cutino International also offers offshore asset protection services.

Stay current on the latest regulatory news about Guatemalan banks

The history of the Guatemalan banking is rife with currency devaluation and banking changes. Therefore, it's important to stay up-to-date on the latest regulatory information.

I recommend: Review the information available at the Banco de Guatemala, which is the primary source of regulatory information within the country. Check the EIN News for late breaking news on Guatemalan banking regulation.

The growing global marketplace requires businesses expanding overseas to deal with international banking. Guatemala banks offer business owners the security of working with both local Guatemala banks and banks with familiar names.

Guatemala banking institutions provide clients with the ease of working with their US based banks. US based banks in Guatemala as well as other global banks in Guatemala give customers peace of mind working on both sides of the pond.

International banking in Guatemala helps business owners expand easily to this growing global marketplace. Guatemala banks get commercial customers the products they need to establish successful businesses or expand global franchises to the Guatemalan economy. Work with banks in Guatemala to:

1. Invest in the Guatemala economy through Guatemala banking institutions.

2. Understand the culture and climate of doing business in Guatemala.

3. Strengthen your business presence through Guatemalan banks.

4. Establish your business as a competitor in the global marketplace.

Action Steps
The best contacts and resources to help you get it done

Find a Guatemala banking institution that is a branch of a US based bank

Using a bank you know and trust helps get your business expansion to Guatemala up and running smoothly and efficiently. Having ready access to both home and international bank accounts simultaneously gives you peace of mind that your finances and business transactions are secure.

I recommend: The International Bank of Miami is an international company offering banking in the US and countries like Guatemala. AllBanks.com provides users with information on banks with branches throughout the world.

Use local commercial banking in Guatemala as a resource for community involvement

Working with a local Guatemala bank helps establish your business as a contributor to the local economy. A good relationship with an Guatemala banking institution gets you recognized as a trusted partner in progress in your business location.

I recommend: Banco de Guatemala and Banco de Occidente has locations and branches throughout the country to serve all your business needs.

Compare banks in Guatemala through trusted financial resources

Work closely with your home based bank to help get good investment information about commercial banking in Guatemala. Banking in any foreign country requires some self education, so working with a banker you trust makes the learning curve less daunting.

I recommend: Citibank has branches here and abroad to meet your global business needs. Banco Uno of Guatemala is a correspondent with Nationsbank, Bank of America and the International Bank of Miami.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Do your homework about Guatemalan culture before beginning a relationship with local banks of Guatemala. Finding out what you need to know about etiquette and customs helps keep you from offending anyone before ever getting started.
• •  Make sure when banking in Guatemala you have a well qualified translator or someone in your financial institution that can help you with language barriers. Much of Guatemala speaks English, but it's always a good idea to have someone who can help you if you need it.

The modern banking system makes the interaction across borders easier than ever before. Given this business environment, banking in Guatemala can provide excellent investment opportunities. However, because of the risks inherent in any offshore investment, you'll need to monitor banks in Guatemala news and trends for any changes in the financial climate. The nature of the changes will dictate the proper allocation of your asset allocation. For instance, positive news for Guatemalan banks may precipitate a move to riskier but more profitable banking investments.

In order to find Guatemalan banking news, you'll need to use news portals, online business magazines, banking resources, and rating agencies. Each of these outlets provides a unique perspective on the news in the Guatemalan banking industry. The news for Guatemalan banks begins at the Central Bank, which controls monetary policy in the country. From there the market dictates news and trends within the industry. Before you begin the search for information, there a few items to consider:

1. Review the news available on Guatemalan banks from online news resources.

2. Examine local Guatemalan bank system resources for the latest news.

3. Register to receive ratings news on commercial banks in Guatemala.

Action Steps
The best contacts and resources to help you get it done

Study the commercial banking in Guatemala news outlets online

Whether you're looking to invest in a local or international bank in Guatemala, the news and trends will impact each type of bank. If you or your company can stay ahead of the trends, this will make the proper allocation of Guatemalan bank accounts much easier. Compiling this banking news is half the battle. The next step is to interpret the data and act upon the news.

I recommend: Evaluate the Guatemalan banking news feeds available at EIN News. Review the banking and economic resources from Business News Americas. Subscribe to the regional publication Latin Finance for banking news and trends.

Utilize governmental resources to access the latest news for foreign banks in Guatemala

With the Central Bank of Guatemala setting monetary policy, this entity is the primary source for banking information. International and U.S. organizations also offer a foreign perspective on the regulations established by the Central Bank. In international banking, it's best to gather your news from as many sources as possible.

I recommend: Assess the economic and banking information offered at The World Bank. Employ the banking reports and news releases available at the Banco de Guatemala or the Central Bank of Guatemala. Join the US - Guatemala Chamber of Commerce for a wealth of news and trends resource tools.

Use international ratings agencies for Guatemalan economic and banking information

Ratings agencies use their considerable resources to examine the financial stability of countries and banking institutions. This can save your company time and money that would otherwise go to research and trend interpretation. The two primary rating agencies are Fitch and Moody's.

I recommend: Subscribe to Fitch Ratings for information on the Guatemalan banking system. Purchase individual research reports from Alacra Store.

Banking in Guatemala can provide an opportunity to diversify your capital asset allocation. This opportunity does come with some degree of risk. The Guatemalan economy can be unstable when compared to more developed countries. However, if you understand the banking system, you can make effective financial decision that minimizes this risk. The structure of the banking system in Guatemala is similar to the United States. Using key terms, you can build a solid knowledge base that will allow you to make the correct banking decision.

Action Steps
The best contacts and resources to help you get it done

Bank of Guatemala

The Bank of Guatemala is the governmental financial entity that controls all issuance and policy on currency on the country. The Bank of Guatemala is also responsible for banking system stability through legislation. This institution serves a similar function to the Federal Reserve in the U.S. banking system.

I recommend: Review the scope and purpose at the Economy Watch for more information on the term.

The Agreement on Trade Related Investment Measures

The Agreement on Trade Related Investment Measures is Guatemalan legislation that broke down trade barriers and allowed easier foreign investment within its borders.

I recommend: Examine the explanation of The Agreement on Trade Related Investment Measures available at the Ministry of Economy and Trade.

Citi Group Guatemala

Citi Group Guatemala is an international bank in Guatemala that also has offices in the United States. Banks in Guatemala such as this make the process much easier than banks that only transact in Guatemala.

I recommend: Review the summary of the Guatemalan branch of Citi Group.

Inter-American Development Bank

The Inter-American Development bank is a private business with the purpose of promoting commerce between U.S. companies and Guatemala. The bank also has economic goals for Guatemala, such as reducing poverty.

I recommend: Study the scope, purpose and mission of the Inter-American Development Bank for further details of the subject.

Central American Free Trade Agreement or CAFTA

The Central American Free Trade Agreement is an agreement between the United States and Central American countries that make trade between Guatemalan and US Companies much easier.

I recommend: Evaluate the primer on the Central American Free Trade Agreement available at Enterprise Florida.

Guatemalan quetzal

The Guatemalan quetzal is the primary currency for the nation of Guatemala. The currency valuation of the Guatemalan quetzal compared to the US dollar can influence any banking deposit made in Guatemala. Therefore, it's prudent to monitor currency fluctuation in the Guatemalan quetzal.

I recommend: Assess the definition of the Guatemalan quetzal at Go Currency. For the latest conversion rate for the Guatemalan quetzal, please use the calculator available at the Coin Mill.