Understand the Jurisdictions Setup Requirement Before Proceed Your Ecuador Company Registration
Ecuador’s economy has been on a steady ascent over the past decades, and experts believe that the growth will go on for decades to come. Good oil prices, the growth of the middle-class economy and access to international markets are of the factors spurring the growth of the country’s economy. Consequently, the country is now getting a lot of attention from foreign investors who are keen on coming in and setting up bases in Ecuador. If you are one of them, or you think now would be a prime time to consider Ecuador company registration, we are here to offer you the best incorporation services you will ever find in the country, if not in the region.
Why Start a Business in Ecuador?
Many are the reasons why Ecuador is being viewed as an ideal investment destination by various experts around the world. Some of these reasons include-:
Easy Registration Process
The process of Ecuador company registration is not complicated in any way. One director and three shareholders are the basic requirements to register a company in Ecuador. Both the director and the shareholders can be from any nationality. For the minimum share capital, US400 is necessary for company incorporation.
You will also be pleased to know that you don’t have to make the trip to Ecuador to register the company. You can easily do it remotely through a legal representative once you sign a Power of Attorney.
Increased Oil Revenues
The record sales in oil have triggered a lot of infrastructure projects in the country. All these contribute towards making the business environment conducive for investors.
100% Foreign Ownership
Unlike most countries which don’t allow for 100% ownership, it is possible to form a company in Ecuador that will be 100% owned by foreigners. This is appealing to many investors around the world.
Four Special Economic Zones
In Ecuador, there are a total of four special economic zones that comes with a range of benefits for those considering Ecuador company registration. With such zones, investors have the flexibility to carefully select the industries where they know they will get maximum profitability.
These zones also come with very attractive tax benefits, including the exemption of corporate tax for a period of up to 20 years. The zones also enjoy exemptions from tariffs normally imposed on imported goods destined for the special economic zones.
Growing Middle Class
The middle class in Ecuador has been growing tremendously over the last decade, and it is believed that is one of the greatest drivers of the robust economy. With a growing middle class, it means that the purchasing power of the consumers is also increasing, thus having the flexibility to accommodate more goods and services.
Types of Legal Structures in Ecuador
The choice of the right legal structure is imperative for the success of the business. In Ecuador, there are various legal entities you can register as your business vehicles. It is important that you choose the right vehicle if you desire to have maximum profitability with it, besides operating within the legal confines. Some of the most considered structures include-:
- Limited Liability Companies
- Unlimited Liability Company
- General and Limited Partnerships
- Sole Proprietorships
- Joint Ventures
The Best Way for Ecuador Company Registration
When thinking about Ecuador company registration, an investor may decide to go all the process alone. Though there is nothing wrong with this, it may be time consuming and expensive. This is because the investor may not know all the legal requirements. They may also not know the specific procedures needed to register their preferred entity. The best way, therefore, would be to use the help of business incorporation services for the registration process.
We have extensive knowledge of company formation in Ecuador. Thus, we can help you register your business in the shortest time possible. In most cases, such providers will have attorneys, tax experts, and accountants who will cover every aspect of the registration. Contact us to find out more about our offerings.