For the updated version please visit the following page: https://www.bizlatinhub.com/company-formation-ecuador/ Ecuador has been on the rise as a growing Latin American economy. Its liberal investment regulations, business friendly environment, and equal treatment to foreigners and citizens are some of the reasons for the success the Ecuadorian market is experiencing. Although it is enticing, it can be difficult to do business in a country where one does not fully understand the regulations and laws to form a company there. In order to help you get a better insight on the steps in this process, our Ecuadorian business experts have created a company formation presentation for Ecuador. We hope it helps! If you have any more questions about how to incorporate your company in Ecuador, find the contact sheet at the bottom of this page to get in touch with us Doing Business in Ecuador - Provided is a detailed guide on the process for incorporating a company in Ecuador, including information on the types of companies in Ecuador, the duration to form a company in Ecuador, information about the initial capital requirements for a new legal entity in Ecuador and other key requirements for establishing a company in Ecuador. Furthermore, the steps on how to form the most common type of company in Ecuador and to open a corporate bank account are provided. Proudly provided by the Biz Latin Hub Group - www.bizlatinhub.com - Latin America´s leading provider of Market Entry and Back Office Services in both English and Spanish

1. Ecuador – How to Form a
Company in Ecuador?
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2. ABOUT US
The Biz Latin Hub Group was established in 2014 to
assist both local and foreign companies doing business
in Latin America, by providing a full suite of multilingual
Commercial Representation and Back Office Services.
The group is owned and managed by an experienced
team of local and expat professionals, dedicated to
assisting clients to navigate their way through the
complexities of Latin American business environment.
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10 Steps

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Step 1 – Choose the Type of Legal
Structure for Your Business Needs
Limited
Liability
Company
There are a number of different legal
structures you can choose from when
forming your company:
• Limited Liability Company (public or
private)
• Unlimited Liability Company
• Partnership (general or limited)
• Joint Venture
• Sole Proprietorship
*The process for an Unlimited Liability
Company is exactly the same.
The majority of companies that are set
up in Ecuador are Limited Liability
Companies (SRL).
This presentation will outline the
process of setting up a:

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Key Considerations When Forming a
Company in
•Yes
Is Foreign Ownership Allowed?
•Yes
Can Company Sponsor Foreign Employees?
•Zero
Capital Controls
•4 weeks
How Long Does it Take (Including Bank Account)
• SLR: USD 400 ULC: USD 800
Minimum Capital?
• Yes, in order to obtain the RUC number
Requires a Fiscal Address and Legal
Representation?
• USD Dollars
Currency
• 2
Min Number of Shareholders

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Step 2 – Power of Attorney
Get the ball rolling…
• The power of attorney will need to be
drafted and signed in order to set up a
Company in Ecuador.
• The aim is to provide the agent with all
faculties needed to represent you or your
foreign company in the country so that
they can form the company in a lawful
manner.

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First, you have to register an online
account with the Superintendence of
Companies at:
www.supercias.gob.ec/portalConstitucion
Electronica
Then, you can reserve your company’s
name at the same place.
Step 3 – Registration of Your Company
Name Online

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Step 4 – Complete the Online Form
• You must fill in the online company
formation request form again at:
www.supercias.gob.ec/portalConstitucion
Electronica
• You must upload the required
documents
• Then, you must make the payment

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Step 5 – Signing of the Bylaws and
Appointment of the Director
An important step…
Once you’ve made the payment, a notary
will take care of entering your information
into the system and validating it.
They will then assign a date and a time for
the signing of the bylaws and appointment
of the director.

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Step 6 – Company’s Legal Existence
Getting formal…
• After you’ve signed the documents, the
system sends your information to the
“Mercantile Registry Office”.
• The “Mercantile Registry Office”
validates the information and registers
your company’s documents.

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Step 7 – Obtain Fiscal Code
• The system will automatically generate a
file number for your company formation
request and it will send the information to
the “Servicio de Rentas Internas” (SRI).
• The SRI will then generate a “RUC”
number or fiscal code for your Company.
• Once the entire process has been
completed you will receive a notification
from the system letting you know that your
company has been incorporated.

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Step 8 – Social Security
• Then, you have to sign up online for Social
Security at the Ecuadorian Institute of
Social Security and obtain a passbook to
use the online platform.

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Step 9 – Municipal License
You have to pay the commercial patent at
the Mucipality of Quito and obtain the “tasa
de habilitacion”. The commercial patent is a
tax for a person or company that has a
commercial or industrial activity and must
be paid every year.
As for the “tasa de habilitacion”, the fee
depends on the type of company and the
location as well as its size of facilities of its
sector.

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Step 10 – Opening a Bank Account
You need to open a corporate bank
account to conclude the company
formation process in Ecuador!
*Opening a bank account is necessary to
form a company, but the process is
officially formed when you are inscribed in
the Registro Mercantil and the RUC is
obtained.
Almost there…

16. CONTACT US
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Argentina@bizlatinhub.com
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Panama@bizlatinhub.com
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Belize@bizlatinhub.com
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Brazil@bizlatinhub.com
Guayaquil – Ecuador
Ecuador@bizlatinhub.com
Santiago – Chili
Chili@bizlatinhub.com
Bogotá – Colombia
Colombia@bizlatinhub.com
México City – México
Mexico@bizlatinhub.com
Lima – Peru
Peru@bizlatinhub.com

17. OUR SERVICES
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• Commercial Representation Services
• Company Formation Services
• Visa Processing Services
• Accounting & Finance Services
• Legal Services
• Due Diligence Services
• IT Support Services
• Recruitment Services

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