Ecuador Company Registration Services – Open for Foreign Investors
Its unique culture helps to attract entrepreneurs to start in Ecuador the company registration services. Ecuadorians are generally laid-back people. They are happy and has a satisfying environment for the locals as well as appealing to foreigners. There are many more wonders of Ecuador that may resonate with people from other parts of the world.
The Land on the Equator
Ecuador is located right on the Earth’s Equator, making it the most environmentally diverse countries in the world. With so much natural wonder, scientific appeal and biological marvel, Ecuador have increasingly become a significant tourist destination. With its tourism industry growing steadily, Ecuador has also become a magnet for foreigners to set up their trade and business. Such a phenomenon is good for the economy as more investors set up shop in Ecuador. There are also more jobs offer to open up for the local workforce.
Business Set Up Benefits
When it is decided to open or set up a business in Ecuador, foreigners are allowed to have 100% ownership of the business entity. This means the law does not require business owners to have an Ecuadorian as a partner. However, it is wiser for foreign business owners to have a local partner to counsel on domestic matters, especially the Ecuadorian culture. Besides that, having an Ecuadorian in the company will help in the hiring process as well as communication.
The Process – Ecuador Company Registration Services
Setting up a business in Ecuador is simple and straightforward. There are two ways to do this. One is to hire local lawyers to do it through the manual process, which may take too much time and two is through online registration. There are several types of business structures and depending on the organisation; some may require extra paperwork and documentation. Limited liability and unlimited liability companies are the most common business structure in Ecuador.
Incorporating a business via online transfers most of the process to the authorities. Once an application is filled and submitted with the required documentation, it will be received by a notary public that will review the information. If everything is in order, the notary public will require shareholders, President and General Manager, to sign in person. The notary public will send the information to the Mercantile Registry, and if all is good, it will request a tax identification number. This marks the approval of the company registration.
No matter what type of business you have in mind, it is best to speak to the experts in setting up a business in Ecuador. The experts will then be able to guide and advice on the pros and cons of your option. For more information in Ecuador company registration services, contact us and we will be all ears and hands to help you out.