Which legal vehicle should I use and what is the minimum capital for an S.A.?

The dominant vehicle is the Sociedad Anónima, incorporated by public deed before a Guatemalan notary and requiring at least 2 founding shareholders at incorporation. Minimum initial capital is Q200 (art. 90 of the Commercial Code, as amended by art. 6 of Decree 18-2017, published Oct 27, 2017); a bank deposit of cash contributions is compulsory only when they exceed Q2,000 (art. 92, as amended by art. 7 of the same decree). The Q2,000 figure cited by adviser guides is that deposit threshold, not a minimum capital, only the cross-check against the official gazette (Diario de Centro América) is outstanding. The lighter alternative, the Sociedad de Emprendimiento (Decree 20-2018: no public deed, single shareholder possible), is capped at Q5 M of annual revenue and is unsuitable for an export factory.