Manager Michael Laudrup made defender Flores the first addition to his squad since succeeding Brendan Rodgers and he has now added former Holland Under-21 international De Guzman ahead of the Swans' second Barclays Premier League campaign.
Both players previously worked with Laudrup at Mallorca and De Guzman is looking forward to being re-acquainted with the Dane at the Liberty Stadium. He told the club's official website: "Once the opportunity came along to join Swansea and Michael Laudrup it was a done deal. I didn't have to think twice about it."
De Guzman added: "I watched Premier League football every week on the TV last season. I was aware that Swansea are a good footballing side, but they really caught my eye when they beat Manchester City.
"They had a great season and I am really looking forward to the challenge of playing on a new (stage) in the Premier League. I'm grateful for the opportunity and grateful that the manager has acknowledged me as a player."
The Canadian-born playmaker moved to Holland to join the Feyenoord academy and went on to make over 100 appearances for the Rotterdam club. He also featured for the Dutch Under-21 side and played at the 2008 Olympics in Beijing. He moved to Mallorca in 2010 and was then sold to Villarreal for around £7million in August of last year.
Flores, meanwhile, who is better known as Chico, completed his medical on Monday and has put pen to paper on a three-year contract, subject to international clearance.
"I am very happy to be here," Flores told the Swansea website. "I know I am joining a club that has been growing over the last few years and is still ambitious to go even higher. Having played in La Liga and Serie A, two great leagues, it's a dream come true to play in the Premier League, one of the best, if not the best, in the world."
The former Spain Under-21 international admitted Laudrup's presence at Swansea was a key factor in his decision to move to south Wales.
He said: "He was one of the main reasons I signed. He knows me as a person and a player, so I was honoured when the call came. I believe the manager will be good for Swansea and they have done extremely well to get him. Swansea's way of playing is the same style as he wants to play the game. He is the right person to take this club forward."
Source: PA
Source: PA