Understanding the Legal Landscape

Firstly, it is imperative to comprehend the legal framework governing businesses in Ecuador. Foreign investors must adhere to both national laws and local regulations. The principal legal entities available for businesses in Ecuador include:

1. Limited Liability Company (LLC): Known locally as “Compañía de Responsabilidad Limitada (Cía. Ltda.)”, this is a common choice for small to medium-sized enterprises.
2. Corporation (S.A.): This is suitable for larger enterprises and involves more complex regulatory requirements.
3. Branch Office: For those who wish to operate as an extension of an existing foreign company.

Each entity type has distinct formation requirements, taxation policies, and administrative obligations. Consulting with a legal expert specializing in Ecuadorian business law can facilitate the decision-making process regarding the most suitable entity for your venture.

Immigration and Residency Requirements

Subsequently, securing the appropriate visa is critical for foreigners aiming to start a business in Ecuador. The primary visas for entrepreneurs include:

• Investor Visa (9-V): This visa requires a minimum investment in real estate or a business in Ecuador.
• Professional Visa (9-VI): Available for individuals with a university degree or professional qualifications recognized by Ecuador.

The visa application process involves submitting various documents, including proof of investment, a detailed business plan, and personal identification documents. Moreover, obtaining legal residency is often necessary for long-term business operations.

Registration and Licensing

After securing the necessary visa, the next step is registering the business with the Superintendencia de Compañías, Valores y Seguros (Superintendence of Companies, Securities, and Insurance). The process typically involves:

1. Name Reservation: Ensuring the desired business name is unique and available.
2. Drafting and Notarizing the Company Charter: This document outlines the company’s structure, purpose, and regulations.
3. Capital Deposit: Depositing the initial capital in a local bank.
4. Obtaining a Tax Identification Number (RUC): Registering with the Servicio de Rentas Internas (SRI) for tax purposes.

Additionally, depending on the nature of the business, specific licenses or permits may be required. For instance, businesses in the food and beverage industry must obtain health permits from the Ministry of Public Health.

Financial and Tax Obligations

Ecuador has a structured tax system that foreign entrepreneurs must navigate effectively. Key tax considerations include:

• Corporate Income Tax: Currently set at a rate of 25%.
• Value Added Tax (VAT): A standard rate of 12% applies to most goods and services.
• Withholding Taxes: Applicable on payments to non-residents, varying by transaction type.

Maintaining accurate financial records and complying with tax filing requirements is essential to avoid legal issues and penalties. It is advisable to engage with a local accountant or financial advisor who understands Ecuador’s tax laws and regulations.

Cultural and Market Insights

Understanding Ecuador’s cultural and market dynamics can significantly impact business success. Building relationships and trust is vital in Ecuadorian business culture. Additionally, having a grasp of the local market conditions, consumer behavior, and competitive landscape can inform strategic decisions and marketing efforts.

The post Business Requirements in Ecuador | Starting a Company as a Foreigner appeared first on Easyco.

Understanding Ecuador’s Legal Framework

To navigate the legal intricacies of Ecuador, it’s crucial to first comprehend the unique aspects of its legal framework.

• Legal System Overview: Ecuador operates under a civil law system, and understanding the nuances of this legal structure is essential for anyone seeking legal representation.
• Regulatory Landscape: Explore the various legal regulations governing different aspects of business, immigration, and personal matters in Ecuador, emphasizing the need for specialized legal expertise.

The Role of Legal Representation

In a country where legalities can be intricate, having dedicated legal representation becomes a cornerstone for success.

• Protection of Rights: Expert attorneys in Ecuador ensure the protection of your rights by providing insights into local laws and regulations, guiding you through legal processes, and advocating for your best interests.
• Business Compliance: For businesses operating in Ecuador, legal representation becomes indispensable for navigating complex business regulations, contracts, and compliance requirements, mitigating legal risks effectively.

Why Choose Professional Legal Counsel

As legal challenges arise, opting for professional legal counsel offers numerous advantages.

• Specialized Knowledge: Attorneys with specialized knowledge of Ecuadorian law bring a deep understanding of the legal landscape, offering tailored solutions to address specific legal issues.
• Mitigating Risks: In a country where legal pitfalls can be numerous, having legal representation helps in identifying and mitigating risks, ensuring a smoother path through legal proceedings.

In conclusion, securing expert legal representation in Ecuador is not merely a choice but a strategic necessity.

The post Legal Representation in Ecuador appeared first on Easyco.

The Importance of Outsourcing Accounting in Ecuador

Outsourcing accounting services in Ecuador can significantly enhance your financial efficiency. Professional accountants with in-depth knowledge of local tax regulations can efficiently manage your books, ensuring accurate and up-to-date financial records.

Tax Compliance Made Simple

Ecuador’s tax landscape can be complex, with frequent changes in regulations. Outsourcing tax services ensures that your company remains compliant with all tax laws. Experienced tax professionals can help you navigate the intricate tax requirements and deadlines, minimizing the risk of non-compliance.

Cost Savings and Resource Optimization

Outsourcing your accounting and tax services can lead to substantial cost savings. Instead of hiring and maintaining an in-house finance team, outsourcing allows you to allocate resources more efficiently. You pay only for the services you require, reducing overhead costs.

Access to Expertise

When you outsource, you gain access to a team of experts who specialize in Ecuadorian tax regulations. This expertise can prove invaluable when making strategic financial decisions and planning for the future.

Enhanced Data Security

Outsourcing partners prioritize data security and confidentiality. They employ the latest technologies and best practices to safeguard your financial data, reducing the risk of data breaches.

Smooth Business Operations

By outsourcing accounting and tax services, your company can focus on its core activities and business growth. This streamlined approach can lead to improved overall efficiency.

Outsourcing accounting and tax services in Ecuador is a strategic decision that can enhance your financial operations, ensure tax compliance, and save costs. Partnering with experienced professionals can provide your business with the expertise needed to navigate Ecuador’s complex tax landscape. Embrace this opportunity to optimize your financial resources, enhance data security, and focus on your core activities for sustainable business growth.

Get Assistance from Easyco Experts!

At Easyco, we make company formation in Ecuador and all of Latin America easy; our team of corporate experts has vast experience helping companies and individuals register their business in LATAM, with a proven track record of success across all of our services. Easyco aims to tackle the complex company formation processes across LATAM. We make business registration easy by providing a hassle-free online company registration experience. Start your company in Ecuador today!

Easyco also provides additional services to guarantee your company’s compliance, which includes:

• Appointment of Legal Representation

• Providing a Registered Office Address

• Handling tax and accounting

• Hassle-free Payroll Services

• Manage your Company bank account opening

• Manage your Trademark Registration

• Recruiting and Hiring Talent

• Corporate Legal Services

• PEO and EOR services

The post Accounting and Tax Services in Ecuador appeared first on Easyco.

The Role of Payroll in Business Success

To begin with, let’s understand why payroll is a critical aspect of business operations.

Every successful business depends on its workforce. Payroll, as the financial backbone of a company, ensures that employees are compensated accurately and on time. It also plays a pivotal role in tax compliance and labor regulations.

What is Payroll Outsourcing?

Now, let’s define the concept of payroll outsourcing.

Payroll outsourcing involves entrusting the management of your company’s payroll processes to a third-party service provider. These experts are well-versed in local labor laws and regulations, ensuring your business remains compliant while saving you time and resources.

Benefits of Payroll Outsourcing in Ecuador

Let’s explore the advantages of adopting payroll outsourcing services.

1. Cost Efficiency: By outsourcing, businesses can reduce overhead costs associated with maintaining an in-house payroll department.
2. Expertise and Compliance: Payroll providers in Ecuador are equipped with the expertise to navigate the country’s intricate labor laws and tax regulations.
3. Time Savings: Outsourcing payroll frees up valuable time for business owners and HR teams to focus on core activities.

Key Considerations Before Outsourcing Payroll

Before making the decision to outsource, businesses should consider some crucial factors.

1. Provider Reputation: Research and choose a reputable payroll service provider with a proven track record.
2. Data Security: Ensure the provider has robust data security measures in place to safeguard sensitive employee information.
3. Customization: Opt for a service that can tailor its offerings to your business’s specific needs.

The Future of Payroll Outsourcing in Ecuador

Let’s conclude by discussing the potential growth of this industry in Ecuador.

As businesses in Ecuador continue to evolve, the demand for efficient payroll solutions is likely to increase. Furthermore, payroll outsourcing is expected to play a significant role in this transformation, providing companies with the means to thrive in a competitive marketplace.

In summary, payroll outsourcing in Ecuador offers a strategic advantage for businesses seeking to streamline their operations, ensure compliance, and focus on growth. By carefully considering the benefits and key considerations outlined in this article, you can make an informed decision that aligns with your business goals.

Get Assistance from Easyco Experts!

At Easyco, we make company formation in Ecuador and all of Latin America easy; our team of corporate experts has vast experience helping companies and individuals register their business in LATAM, with a proven track record of success across all of our services. Easyco aims to tackle the complex company formation processes across LATAM. We make business registration easy by providing a hassle-free online company registration experience. Start your company in Ecuador today!

Easyco also provides additional services to guarantee your company’s compliance, which includes:

• Appointment of Legal Representation

• Providing a Registered Office Address

• Handling tax and accounting

• Hassle-free Payroll Services

• Manage your Company bank account opening

• Manage your Trademark Registration

• Recruiting and Hiring Talent

• Corporate Legal Services

• PEO and EOR services

The post Payroll Outsourcing in Ecuador appeared first on Easyco.

Here’s a step-by-step guide to help you open a corporate bank account in Ecuador:

Step 1: Choose a Bank

The first step in opening a corporate bank account in Ecuador is to choose a bank that meets your needs. There are several banks to choose from in Ecuador, including Banco Pichincha, Banco del Pacífico, and Banco Guayaquil. Research each bank’s services and fees to find the one that best fits your business’s needs.

Step 2: Gather Required Documents

Once you’ve chosen a bank, the next step is to gather the required documents. The documents you’ll need to provide will vary depending on the bank and the type of account you want to open. However, the most common documents required include:

• A copy of your company’s articles of incorporation
• A copy of your company’s bylaws
• A copy of your company’s tax ID number
• A copy of the ID of the company’s legal representative
• A copy of the legal representative’s utility bill as proof of residence
• A reference letter from another bank (in some cases)

Step 3: Make an Appointment with the Bank

After gathering the required documents, you’ll need to make an appointment with the bank to open your corporate account. Call the bank’s customer service department or visit its website to schedule an appointment.

Step 4: Complete the Application Process

During the appointment, you’ll need to complete the application process. The bank will ask you to provide the required documents, fill out an application form, and sign a contract. You’ll also need to deposit an initial amount to open the account.

Step 5: Wait for Account Approval

After completing the application process, the bank will review your application and documents to determine whether to approve your account. The review process can take several days or even weeks, depending on the bank and the type of account you’re opening.

Types of Bank Accounts

There are several types of bank accounts you can open in Ecuador, including:

1. Checking Accounts: Allows you to make deposits, withdrawals, and transfers.
2. Savings Accounts: Allows you to save money and earn interest on your balance.
3. Certificates of Deposit: Allows you to earn a fixed rate of interest on your deposit for a set period.

Benefits of Opening a Corporate Bank Account in Ecuador

Opening a corporate bank account in Ecuador offers several benefits, including:

1. Efficient Management of Finances: A corporate bank account allows businesses to manage their finances efficiently and keep track of their income and expenses.
2. Easy Payment Processing: A corporate bank account allows businesses to pay their employees and suppliers easily and securely.
3. Increased Credibility: Having a corporate bank account shows that your business is legitimate and can increase your credibility with clients and suppliers.
4. Access to Credit: A corporate bank account can also help businesses access credit and loans to finance their operations.

Why is it Required?

Opening a corporate bank account in Ecuador is required by law for businesses to conduct financial transactions. It also helps businesses comply with tax laws and regulations and prevents money laundering and other financial crimes.

Opening a corporate bank account in Ecuador is essential for businesses operating in the country. By following the steps outlined above, you can open a corporate bank account in Ecuador and enjoy the benefits it offers, including efficient management of finances, easy payment processing, increased credibility, and access to credit. Remember to choose a bank that meets your business’s needs, gather the required documents, make an appointment, complete the application process, and wait for account approval. With a corporate bank account in Ecuador, you can manage your finances efficiently and comply with the country’s financial laws and regulations.

How to register a company in Ecuador?

1. Choose the right type of company
2. Sign the Power of Attorney
3. Register the company’s name at the Superintendence of Companies
4. Draft and notarize the bylaws
5. Register the company at the Superintendence of Companies
6. Register the company with the Mercantile Registry
7. Obtain the Tax ID Number or Fiscal Code
8. Pay for the Commercial Patent
9. Open a corporate bank account

Get Assistance from Easyco Experts!

At Easyco, we make company formation in Ecuador and all of Latin America easy; our team of corporate experts has vast experience helping companies and individuals register their business in LATAM, with a proven track record of success across all of our services. Easyco aims to tackle the complex company formation processes across LATAM. We make business registration easy by providing a hassle-free online company registration experience. Start your company in Ecuador today!

Easyco also provides additional services to guarantee your company’s compliance, which includes:

• Appointment of Legal Representation

• Providing a Registered Office Address

• Handling tax and accounting

• Hassle-free Payroll Services

• Manage your Company bank account opening

• Manage your Trademark Registration

• Recruiting and Hiring Talent

• Corporate Legal Services

• PEO and EOR services

The post How to Open a Corporate Bank Account in Ecuador appeared first on Easyco.

Ecuador is a popular destination for business owners and inves3tors since it has a stable government, strong politics supporting new businesses and foreign investors, and a highly skilled workforce.

What are the most used types of legal structures in Ecuador? How to register a company in Ecuador? What is a ‘SAS’ in Ecuador? What is an ‘SRL’?

‘Sociedad de Acciones Simplificadas’ or Simplified Shares Company (SAS)

• A ‘SAS’ in Ecuador can be registered with one or more Shareholders.
• In comparison to other types of companies in Ecuador, the registration process is easier and faster. It can even be done online.
• There is no minimum Share Capital required.
• It is registered at the Superintendence of Companies, Values, and Insurance.

A ‘Sociedad Anonima’ or Corporation (SA)

• Incorporating a ‘Sociedad Anonima’ requires a minimum of 2 Shareholders, and there is no maximum limit.
• The minimum required Shared Capital for a Corporation is 800 USD.
• The Share Capital of a Corporation depends on the contribution the Shareholders make. It is divided into Shares that can be freely transferred, sold, or inherited, depending on the conditions specified in the Bylaws.

‘Sociedad de Responsabilidad Limitada’ or Limited Liability Company (SRL)

• The minimum required Share Capital is 400 USD, 50% of which has to be paid at the moment of incorporation and the rest in the following 12 months.
• The Share Capital is divided into equal Shares.
• It requires a minimum of 3 Shareholders at the moment of incorporation and a maximum of 15.
• Additionally, it needs a Board of Directors, a President, and a General Manager.

‘Sucursal’ or Foreign Branch Company

• It is necessary to translate and present the Article of Incorporation and Bylaws of the leading company.
• The Share Capital has to be a minimum of USD 2,000.
• A local Legal Representative has to be appointed through a notarized Power of Attorney (POA).
• The Ecuadorian consulate in the country of incorporation has to verify the existence of the main company and approve it.

Get Assistance from Easyco Experts!

Costa Rica is the perfect country to register your company in Ecuador! To ensure you register your company correctly and comply with all local laws and regulations, you can contact us, and our team of experts will make the company registration process easy for you!

At Easyco, we make company formation in Ecuador easy; our corporate experts have vast experience helping companies and individuals register their businesses in Costa Rica. Furthermore, we have a proven track record of success across all of our services. Easyco aims to tackle the complex company formation processes across LATAM. We make business registration easy by providing a hassle-free online company registration experience. Start your company in Ecuador today!

Additionally, Easyco provides additional services to guarantee your company’s compliance, which include:

• Appointment of legal representation,
• Providing a registered office address
• Handling tax and accounting
• Hassle-free Payroll Services
• Manage your Company bank account opening
• Manage your Trademark Registration
• Recruiting and Hiring Talent
• Corporate Legal Services.

The post What are the Most Common Types of Companies in Ecuador? appeared first on Easyco.

Learn about the Tax Identification Number in Ecuador, its requirements, and the steps to follow to obtain it.

What is the Tax ID in Ecuador? How to obtain an RUC? What are the requirements? What is the SRI? Do I need company? How to form a company in Ecuador?

What is the Tax Identification Number in Ecuador?

The Tax Identification Number in Ecuador is called RUC, which stands for ‘Registro Único del Contribuyente’. The SRI or ‘Servicio de Rentas Internas’ is the government’s agency in charge of collection and distribution in Ecuador, and they’re responsible for the issuance of Tax IDs.

According to the SRI’s website, the RUC is: “an instrument whose function is to register and identify taxpayers for tax purposes and provide this information to the Tax Administration”.

For private companies, the number has 13 digits and always ends with 001. The first two digits are the city code where the RUC was issued for easy identification.

What are the requirements to obtain an RUC?

Obtaining a Tax ID is part of the company registration process in Ecuador, so one of the main requirements is to have the Articles of Incorporation, Legal Representative, and Office Address ready. These are some of the documents that you’re going to need to submit:

• Copy of the ID of the Legal Representative
• Voting certificate of the Legal Representative
• Articles of Incorporation of the company
• Information of the shareholders
• Power of Attorney appointing the Legal Representative
• Registered office address in Ecuador
• Application form

How do I obtain a Tax ID Number for my company in Ecuador?

The process can be either done in person or online, but a Legal Representative is needed in the country at all times, as well as a registered office address for fiscal purposes.

• If done in person, the Legal Representative has to go to one of the offices of the ‘Servicio de Rentas Internas’ or SRI in Ecuador to submit all the documentation. The agencies are located in most cities around Ecuador.
• If you wish to carry out the procedure online, the first step is to create an account at the online portal called ‘SRI en Línea’, upload the required documents, and then submit the application for it to be reviewed and approved.

How to register a company in Ecuador?

These are the general steps to follow to register a company in Ecuador.

1. Choose the right type of legal structure
2. Elaborate a Power of Attorney to appoint a Legal Representative
3. Check the availability and register the company’s name
4. Draft the articles of incorporation and the bylaws
5. Register the company at the Superintendence of Companies
6. Register the company at the Mercantile Registry Office
7. Obtain the Tax Identification Number or Fiscal Code
8. Pay the Commercial Patent and obtain the “Tasa de Habilitación”
9. Open a corporate bank account

Get Assistance from Easyco Experts!

Ecuador is in constant growth and always looking to simplify its processes. To make sure you register your company in the right way, you can get in touch with us, and our team of experts will ensure you comply with all Ecuadorian laws.

At Easyco, we make company formation in Ecuador easy; our corporate experts have vast experience helping companies and individuals register their business in Ecuador, with a proven track record of success across all of our services. Easyco aims to tackle the complex company formation processes across LATAM. We make business registration easy by providing a hassle-free online company registration experience. Start your company in Ecuador today!

Easyco also provides additional services to guarantee your company’s compliance, which include:

• Appointment of legal representation,
• Providing a registered office address
• Handling tax and accounting
• Hassle-free Payroll Services
• Recruiting and Hiring Talent
• Manage your Company bank account opening
• Manage your Trademark Registration
• Corporate Legal Services

To learn more about Easyco’s services and pricing, send us a message. Our team is looking forward to assisting you with your company formation requirements.

The post What is your Tax ID in Ecuador? How to obtain an RUC? appeared first on Easyco.

In recent years, Ecuador has implemented various measures and regulations that promote foreign inversion and for locals to formalize their businesses.

If you are foreigner interested in starting working in Ecuador or are an Investor looking to start a business in Ecuador, you’re going to need a Work Visa, also known as a Work Permit.

What are the types of Work Visas in Ecuador? How to apply for a Work Visa or Permit in Ecuador?

Types of Work Visas in Ecuador

You can obtain a Temporary Work Visa in Ecuador if you stay and work in the country for 2 years. This type of Visa can be renewed and if necessary, the beneficiary can later apply for a Permanent/Residence Visa in Ecuador.

• Technician Visa

  This type of Visa is for technicians that have been offered a job contract in Ecuador. At the moment of application, it is essential to have the work contract with the detail of the activities that are going to be done and information about the person or company hiring, salary, and more.

• Professional Work Visa

  A Professional Work Visa is awarded to someone with a University Degree that has obtained a job in Ecuador. The applicant should have a work contract indicating all the details about the company (public or private), as well as salary, how long they’re staying, and more.

• Investors Visa

  To be able to apply for an Investors Visa in Ecuador, you must comply with one or more of these requirements:

  • To have shares in a company in Ecuador for a minimum of USD 10,000

  • To have or share ownership of a property in Ecuador that has a minimum value of USD 80,000

  • To have a deposit in an Ecuadorian bank or credit institution of at least USD 40,000

  In case you’re interested in setting up a company in Ecuador in order to obtain an Investors Visa we can help you. Learn about the company registration process in Ecuador!

How to Obtain a Work Visa in Ecuador?

The application process must be carried on in the country of permanent residence. It can be done online or at an Ecuadorian Embassy or Consulate. Ecuador has many Embassy and Consulates around the world.

These are some of the general requirements to obtain a Work Visa in Ecuador. Keep in mind that these may change depending on the type of Visa and some other documents can be requested:

• Original valid passport

• Copy of the original valid passport

• Regular residency in the country where you’re applying for the Visa

• Original certificate of criminal record

• Prove to have the means for the subsistence of the applicant and family (if applicable)

• Payment of the fees

• Other documents according to the type of Visa (work contract, deed of ownership, articles of incorporation, etc.)

Get Assistance from Easyco Experts!

Easyco also provides additional services to guarantee your company’s compliance, which include:

• Appointment of legal representation

• Providing a registered office address

• Handling tax and accounting

• Hassle-free Payroll Services

• Manage your Company bank account opening

• Manage your Trademark Registration

• Recruiting and Hiring Talent

• Corporate Legal Services

The post Work Visa in Ecuador: Types and Requirements appeared first on Easyco.

In the last few years, the Ecuadorian government is making big economic efforts to promote foreign investors and companies to look into the country and its natural resources, as well as services, culture, and geography. These government efforts want to make the registration of companies a lot easier and in a shorter period of time. Furthermore, many steps of the process can be completed online.

Before registering a company in Ecuador, it is important to have into consideration the economic activity of the business and to also appoint a responsible legal representative in the country. This will allow the registration process to run smoothly and without any problems.

Detailed below are all the steps necessary to successfully register a company in Ecuador.

1. Choose the correct type of company

   In Ecuador, there are many types of companies to choose from. The decision must be made according to the company’s needs, objectives, and future goals. It is also important to take into consideration the business and commercial activity of the company.

   • Corporation (SA): Corporations are Anonymus Societies or Sociedades Anónimas (in Spanish). This type of company relies on the contributions the shareholders make, which are divided into shares. The minimum required capital for Corporations is USD 800.

   • Limited Liability Company (SRL): In Ecuador, Limited Liability Companies have to have a minimum of two partners and a maximum of fifteen. It is necessary to have a General Manager and a President and the minimum required capital is USD 400.

   • Simplified Shares Company (SAS): A ‘Sociedad por Acciones Simplificada’, is a company that can be registered with one or more shareholders. The constitution of this company can be done online or in the traditional way.

2. Elaboration and signature of the power of attorney

   If your shareholders are not present in Ecuador, a Power of Attorney will be required that allows your legal representative to carry out the process locally. This Power of Attorney has to be signed by the corresponding party.
   Also, consider that for foreign shareholders additional documentation will be required.
   All documentation that comes from abroad must be duly legalized and apostilled (if applicable), and these hard-copy documents must be sent to Ecuador. Finally, consider that documentation that is not in Spanish, will require translations to be accepted by the local agencies.
   Although this step might sound cumbersome and time-consuming, it is a standard process to register your company in Ecuador. Nevertheless, there is another way in which you can incorporate it in Ecuador without completing this step first. At the end of this article, be sure to ask us how.

3. Check the availability and register the company’s name

   Check for the availability of the desired company’s name and register it at the Superintendence of Companies (Superintendencia de Empresas, Valores y Seguros). Consider that It is not necessary that the name of your company in Ecuador is the same as the name of the brand or service offered to the market.

4. Draft the articles of incorporation and the bylaws

   The articles of incorporation and the bylaws allow for the constitution of the company in Ecuador. This document is going to work as the backbone of the company and rule the way it is run. Consider this document has to include:

   • Company name

   • Legal Representative information

   • Share capital information

   • Company activities

   • Registered / Legal address

   • Management structure

   • Extinction and liquidation details

   • Other general dispositions

   This document requires the legal advice and signature of a lawyer in Ecuador to make sure that it covers all required aspects.

5. Register the company at the Superintendence of Companies

   The Superintendence of Companies (SUPERCIA) is the government agency in charge of the regulation and organization of all companies in Ecuador. Once the registration is complete, the company will be assigned a unique number and the annual registration fee. This information is published on the website 24 hours after.

   The following documents are needed in order to register the company at the Superintendence of Companies:

   • Registered office address

   • Legal representative name

   • Certified copy of the articles of incorporation and bylaws

6. Register the company at the Mercantile Registry Office

   It is also necessary to register the company at the Mercantile Registry Office or Registro Mercantil, in Spanish. This allows for the legal registration of a company in Ecuador. This is done at the Office of the province where the company is being constituted. The Office will provide a registration number, which means the company legally exists.

7. Obtain the Tax Identification Number or Fiscal Code

   Once the company is registered at the Superintendence of Companies and the Mercantile Registry Office, you can apply for a Tax Identification Number or Fiscal Code at the Internal Revenue Service (SRI). In Spanish, this number is called “RUC”, which stands for Registro Único de Contribuyentes. This process takes around 24 hours.

8. Pay the Commercial Patent and obtain the “Habilitation Fee”

   Pay for the Commercial Patent at the local Municipality in order to obtain the Habilitation Fee. The Tasa de Habilitación is a document that allows an office or commercial space to operate, as long as it complies with all safety dispositions and local regulations.

9. Open a corporate bank account

   In order to start working, companies need to open a corporate bank account in Ecuador. Each bank offers different types of accounts with many benefits depending on the agreement and goals of the company. We recommend that the bank offers good pricing structures for international transactions.

   Also, it is important to consider that some banks may have foreign transaction restrictions for companies that have foreign shareholders. It is crucial to take this into account as part of your company establishment strategy, as identifying a bank that has flexible policies will determine when your new company can start its operations.

Get Assistance from Easyco Experts!

Ecuador is in constant growth and always looking to simplify its processes. To make sure you register your company in the right way, you can get in touch with us, and our team of experts is going to make sure you comply with all Ecuadorian laws.

At Easyco, we make company formation in Ecuador easy; our team of corporate experts has vast experience helping companies and individuals register their business in Ecuador, with a proven track record of success across all of our services. Easyco aims to tackle the complex company formation processes across LATAM. We make business registration easy by providing a hassle-free online company registration experience. Start your company in Ecuador today!

Easyco also provides additional services to guarantee your company’s compliance, which include:

• Appointment of legal representation,

• Providing a registered office address

• Handling tax and accounting

• Hassle-free Payroll Services

• Recruiting and Hiring Talent

• Manage your Company bank account opening

• Manage your Trademark Registration

• Corporate Legal Services

The post How to Register a Company in Ecuador: Incorporate your Business appeared first on Easyco.