Work in Guatemala.
Even if this is not the usual choice for immigrants, our article about working in Guatemala will show you both sides of the coin, as well as provide you with information about the economy, work permits, taxation and jobs in Guatemala.
Despite the fact that the Central American economy is one of the largest, Guatemala is one of the poorest countries in Latin America. The distribution of income is extremely uneven: more than half of Guatemalans live below the poverty line. Many Guatemalans left the country; They usually go to Mexico, both legally and illegally, in search of work.
Agriculture accounts for 13.5% of Guatemala’s GDP and accounts for two-fifths of exports. It is estimated that 30% -50% of the workforce is in the agricultural sector, and the main crops are coffee, sugar and bananas. Guatemala is also a leading manufacturer and exporter of cardamom throughout the world.
Production is another share of GDP, and it is dominated by factories for processing and assembling food, known as the Makila factories, where materials are imported, collected in products and exported again.
The main trading partner of Guatemala is the United States of America, where the second revenue stream also comes from. Remittances from a large community of Guatemalan emigrants in America are the highest source of foreign income for the country, equivalent to one-tenth of GDP.
Later tourism played a role, thanks to visitors coming to see Lake Atiatlan in the Highlands and explore Mayan history and ruins.
About 85% of GDP falls on the private sector.
Work permit in Guatemala.
Work permits in Guatemala are provided for two categories of people: emigrants who have a wife or children from Guatemala who need to fulfill a number of requirements, or those who have been offered work. The first requirements include a written offer for employment, a residence permit or temporary visa, police documents, a marriage certificate or a birth certificate and a written request to the Ministry of Labor. As for the latter, it is expected that the application for work permits will be submitted by the potential employer.
Taxes in Guatemala.
Residents and non-residents are taxed only on income earned in Guatemala. For immigrants living in Guatemala, it is important to note that fiscal residents are defined by the following criteria: they spend more than 183 days in Guatemala, even if not consistently, the center of their economic interests is in the country or they are diplomats with residence on assignment in Guatemala.
Income that can be taxed includes income from work, whether it is self-employed or not, and the return on investment. Outside deductions, income is taxed at the following rates: 0-300 000 GTQ is taxed at a rate of 5%. 300,000 GTQ or more are taxed at a fixed amount of 15,000 for the first 300,000 GTQs, as well as 7% for the remaining amount.
The capital gain is taxed at a uniform rate of 10% and includes movable and immovable property and lottery prizes.
Work in Guatemala.