isawill
10/16/2016 16:58 EST
I'm interested in buying property in guatemala. how do I move such large funds? usually stateside I just wire transfer... is it the same internationally?
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armandatitlan
From: Guatemala
10/16/2016 21:29 EST
Hi there,
there is no limitation in sending funds to guatemala.. and out off guatemala. Sending you have to notify the bank off the origin of the funds. (saving, loan, ..) it is only a click away...
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armandatitlan
From: Guatemala
10/16/2016 21:30 EST
now there are plenty of great investmwent opportunity in Guatemala (Guatemala city , lake atitlan...) but I would add you should prepare a structure here in Guatemala to receive the funds, invest and then if you need to sell and send the funds back that will help you lower the taxes impact using what the law allow you to do...
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kgriff
10/16/2016 22:15 EST
Check with the bank in the States (if that's where you're transferring from). There are federal regulations about money transfers, including those of $10,000 or more.
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isawill
10/19/2016 14:17 EST
what do you mean by structure and is there a bank in guatemala that is easier to deal with when it comes to US based transfers?
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AlPavarotti
10/20/2016 09:33 EST
Bottom line, Yes it's doable. But No. 1. check with your bank in the US as far as amount limitations or any other restrictions. And No. 2 . There are several banks in guatemala with a good reputation because of being in the banking business for many years, Granai & Townson is one of them. Either get a contact number on-line and ask them what you need to open an account in order to receive a wire transfer or wait til you get there to talk to them. Good luck.
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zaqwsx
10/20/2016 16:42 EST
I would recommend G&T Continental they are the largest bank in Guatemala and own Bank of Texas in the U.S. they also generally give the best exchange rate. However...whether it is because not paying taxes is a national pass time here or some other reason a lot of people here have a U.S. bank account, would rather have dollars and will give you a better price if you pay in dollars to their U.S. account. Wire transfers are no problem.
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armandatitlan
From: Guatemala
10/20/2016 20:18 EST
Traditionally people have liked to have $ account to protect themselves against sudden depreciation of the $ .. soon the idea to evade taxes with dollar account will be gone as the government will have the right to ask for your accounts records to check if it is confirmed with your annual tax declaration
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