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I'm required to travel to Guatemala for a business visit. I'm applying for a Guatemala business visa. Can some informed advisor or experienced person guide me with the correct requirements?

From the information I collected, I require the following:

1) Cover letter from Indian company
2) Original hard copy of business Invitation letter from Guatemala in Spanish language
3) Correct passport validity
4) Applicant’s Bank statement for latest 6 months Original with bank seal and bank authorized signature or International credit card-copy, or traveler's cheque under applicant’s name, amount should be equivalent to USD5000
5) Air tickets (to-fro)
6) Address proof, photo, passport photocopy and misc docs
7) Commercial registration certificate of Guatemala's inviting company

Can any experienced person guide me if all above docs will suffice or any other extra requirement has to be fulfilled?

Also can someone explain to me about point 7 ? And whats traveler's cheque?

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They should be enough, because those are the minimum requirements, but obviously having all of those is no guarantee of obtaining the visa. See here for the list, from the Embassy of Guatemala in Sweden:

Business Visa
1. Valid passport.
2. Copy of the passport.
3. Recent photo.
4. Filled application form.
5. International credit card, A letter from your Bank or Travel Checks (in your name)
6. Work letter explaining your position and your annual salary.
7. Reservation of round trip ticket (and the visa of any country you transit from).
8. Invitation letter.
9. Commercial Registration of company.
10. Legalized photocopy of the passport.
11. Visa fees: US$ 50. Period of validity is 180 days

A traveler's check is a form of payment especially made for, as the name suggests, travelling. As even regular checks have become obsolete, this isn't a common method at all these days.

The commercial registration number (or certificate) is something the inviting company will provide you, it's a business certification, presumably to verify the identity of the company inviting you.

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