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Guatemala

With thanks to Aguilar Castillo Love for the below content.

Governance

law

In force

 “Obliged Persons”, as defined by the Anti-money Laundering Act: 1) Entities subject to the supervision and inspection of the Superintendency of Banks; 2) Individuals and legal entities engaged in brokerage or intermediation in the negotiation of securities; 3) Credit card issuing and operating entities; 4) Offshore entities operating in Guatemala, which are defined as entities engaged in financial intermediation incorporated or registered under the laws of another country and which carry out their activities mainly outside the jurisdiction of that country; 5) Individual or legal persons that carry out any of the following activities: a) Systematic or substantial operations of exchange of checks; b) Systematic or substantial operations of issuance, sale or purchase of traveller’s checks or money orders; c) Systematic or substantial transfers of funds and/or mobilization of capital; d) Factoring; e) Financial leasing; f) Purchase and sale of foreign currency; g) Any other activity that by nature of its operations may be used for the laundering of money or other assets, as established in the regulations.

The obligated persons must keep a record in the forms provided by the Special Verification Intendancy of the individuals or legal entities with which they establish commercial relations or relations in the normal or apparent course of their business, whether they are occasional or regular customers, and of the transactions carried out with them; and periodically send a report to the Special Verification Intendancy.

Environmental

Law

In force

All  individuals or entities seeking to develop a project, works, industry, or any activity that may produce detriment to natural resources, environment, or introduce modifications to the landscape.

Request and obtain an Environmental License before the Ministry of Environment and Natural Resource. The category of the license (A, B or C) will depend on the type of project, industry, works, or activities that the individual or legal person is seeking to carry out.

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