Articles written by this author include Legal updates and changes, regulatory updates, industry reviews, legal advice, accounting advice, Professional Employer Organization (PEO) news, Q&A with experts, and more.
Understanding invoicing requirements for a foreign company in Ecuador means your billing will be in accordance with local legal norms, which will help you maintain healthy working relationships with clients and local tax authorities. Invoices indicate outstanding payment due for goods or services, and represent a type of legal protection to both parties involved in a business transaction,...
Ecuador's double taxation agreements prevent taxes from being applied to commercial transactions that have been taxed in another jurisdiction, representing a financial incentive to foreign companies and individuals considering investing. Ecuador has double taxation agreements in force with 23 countries around the world, which have bolstered trade and secured greater foreign direct investment. If...
Appointing a legal representative in Ecuador is required if you are planning to establish a company in the country. That representative will be responsible for acting on your behalf and undertaking all regulatory procedures. Your legal representative in Ecuador will be the face of your organization in the local business community, so it pays to choose wisely. What does a legal...
Acquiring real estate generally entails the disbursement of a considerable amount of money. As such, be sure to know what your tax requirements are and how to buy property in Ecuador. Purchasing property in Ecuador involves other costs beyond the asset itself. The following taxes must be paid in Ecuador while buying property, such as taxes on profits and capital gains and those to be settled in...
When expanding to Ecuador it is important to understand the local commercial and trade legislation. It is therefore crucial to seek commercial representation services in Ecuador. Businesses of various sizes see Latin America as an attractive continent to do business in, with huge opportunities for growth and expansion in many sectors such as tech, tourism, and mining. The key to penetrating...
When doing business in Ecuador, managing your business risks with due diligence is essential to achieve success. Entrepreneurship in a new market entails facing different barriers. These include linguistic or cultural barriers, as well as lack of local market understanding or know-how. Buying existing companies or partnering with locals are key ways to mitigate these challenges and obtain...
Teleworking has become a reality for Ecuadorians during the Covid-19 outbreak. However, it is also part of the regulatory framework supervised by the Ministry of Labour of Ecuador, defining teleworking as "the provision of legal and personal services, in a dependent relationship, of a non-present nature, during ordinary or special working days, outside the facilities of the place where the...
With the growing adoption of mobile devices, computers and laptops over the last 20 years, the opportunities for Fintech businesses in Ecuador are increasing rapidly. This significant increase in technology comes hand in hand with the Fintech business in Ecuador. Even several primary sectors of economies have made a way to introduce some Fintech technologies into their business. Banking changes...
Owners of a Non-Governmental Organization (NGO) must appoint and register a Compliance Officer in Ecuador according to local corporate regulations. Non-Governmental Organizations in Ecuador, beyond having to comply with specific requirements for the operation of their activities locally, are also considered obligated subjects before the Financial and Economic Analysis Unit of Ecuador (Unidad de...
Ecuador is promoting business in the country by introducing a new legal entity, the Simplified Shares Company, or SAS (Sociedad de Acciones Simplificadas). On February 28, 2020, the new Law of Entrepreneurship and Innovation came into force in Ecuador. This law is a very important advance in Ecuadorian legislation and is accompanied by the implementation of a series of new regulations in the...