The guys from Arena Net had created a semi-guide about how to select the appropiate server and region you will play on. As we all know we will be playing on the "Sanctum of Rall" Server from North America.
But there are some things you will find handy. They are obvious ones, but the game will be installed on your "default system" language.
After that you will be able to change it between: English, Spanish, German and French.
To change it (in case you don't want to use the game on the language you've used):
When you install Guild Wars 2, the client matches the language your operating system is set to. If you wish to play in a different language after installation, you can change languages in the Guild Wars 2 launcher and the corresponding audio language files will be downloaded and installed. Changing the language of the in-game text is also available to you at any time by going to the in-game options menu.
As I've seen the "Spanish" version it's not Latin American, it is "Castellano" or "Spain Spanish". I guess they will change it at launch.
Also, just in case you selected a different server by mistake "I'm not on Sanctum of Rall, since it was full and I selected another server", there will be a free world transfer at launch. Just in case you are concerned about it.
At launch, players will be able to transfer between worlds freely. However, once server populations have largely settled and stabilized, world transfers will be restricted to once a week and cost a variable amount of gems based on the population of the world being transferred to.
In time, we’ll also introduce free “guesting,” which will allow players to visit other worlds as guests as long as they have friends on those worlds. This feature will be free, but guest players will not be able to enter World vs. World, and the Power of the Mists bonuses from their home world will continue to apply to their characters.
And just in case we have some South American or European players, here's a List of the severs and "which region" are they considered: http://en.support.guildwars2.com/app/answers/detail/a_id/9183
Source of all the info: https://www.guildwars2.com/en/news/a-world-of-choice-the-regions-of-guild-wars-2/
Cheers! I can't wait to play with y'all after the 25th of August! n.n
Wisty