How To Buy A Rental Property Overseas
What’s the most important factor when considering a potential rental property purchase overseas? The pleasure potential for you and your...
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Top Destinations:
Whether you’re looking for fun and sun, a peaceful retirement, or the chance to earn some extra income, you’ve got a real world of opportunity open to you… In short, we’ve done our best to narrow down your best options, but only you can decide the right country for you.Best For:
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Guatemala Facts And Figures
Facts About Guatemala
| Population | 17,915,568 (June 2020 est.) |
|---|---|
| Gross Domestic Product (GDP) | $85.3 billion (2020 est.) |
| GDP Per Capita | $3,340 (2020 est.) |
| Inflation Rate | 1.83% (2020 est.) |
| Currency | Quetzal |
| Exchange Rate Versus U.S. Dollar | 7.70 quetzales (GTQ) to 1 US dollar |
| Language | Spanish (official) 60%, Amerindian languages 40% note note: there are 23 officially recognized Amerindian languages, including Quiche, Cakchiquel, Kekchi, Mam, Garifuna, and Xinca |
| Capital | Guatemala City |
| Population of Capital City | 2.934 million (2020) |
| Time Zone | GMT -6 hours |
| Seasons | Summer (march-april) and Rainy season (may-oct), Winter (Nov-feb), The weather in Guatemala City is also very windy; this may decrease the apparent temperature even more. Hottest month is April. |
| International Dialing Code | 502 |
| Electricity | 110/220 V |
| System of Government | constitutional democratic republic |
| Name and Party Affiliation of Current Leader | President Jimmy Ernesto Morales Cabrera (Since January 2016) |
| Income Tax Rate for Residents | 15%-31% |
| Property Tax | Progressive rates up to 0.9% |
| Capital Gains Tax | Capital gains earned by nonresidents are subject to a flat 31% |
| Inheritance Tax | Inheritance and gift taxes are levied at progressive rates, from 1% to 25%. |
| Rental Income Tax | Inheritance and gift taxes are levied at progressive rates, from 1% to 25%. |
| Transfer Tax | 12% (IVA) of the value of the property |
| Sales Tax | 12% |
| Restrictions on Foreign Ownership of Property | No |
| Local Chamber of Commerce | Guatemala’s Chamber of Commerce |
| American Chamber of Commerce | Amcham Guatemala |
| Primary Exports | coffee, sugar, petroleum, apparel, bananas, fruits and vegetables, cardamom |
| Residency and Visa Requirements | Not all foreigners need visas to enter the country North American and European citizens need only their valid passport, and will be granted 90 days permission in the country. |
| Special Benefits for Foreign Residents or Retirees | Retirement program |
| National Airline | Avianca |
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Did You Know These Facts About Guatemala?
The name ‘Guatemala’ comes from a word which means ‘a place of many trees’.
As well as Spanish, there are over 20 other Mayan languages spoken in Guatemala.
The Quetzal is also the name of the national bird of Guatemala. In Mayan times the feathers of the Quetzal were used as currency.
Both blue Denim and the chocolate bar were both invented in Guatemala.
Motagua River is the longest river in Guatemala.
Lake Atitlan is the deepest lake in Guatemala and also in Central America. Its depth goes to 340 meters.
Guatemala has 37 volcanos and 3 of them are currently active. The tallest is Tajumulco Volcano which is the highest point in Central America. It is 4203 meters above sea level.
Guatemala has been continuously inhabited for over 20,000 years making it one of the longest continuously-inhabited regions in the world.
Another interesting fact about Guatemala is that the country is famous for its jade, and produces more jade than any other country in the world.
Firing guns into the sky to celebrate Christmas is a Guatemalan tradition. Sadly, the falling bullets kill people every year.
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