Steps to Set Up an Export Company / Business in Ecuador

Ecuador has begun opening up its economy to world markets, with clear messages, such as the signing of the Trade Agreement with the European Union, the intention to join the Pacific Alliance and the signing of bilateral investment treaties. Ecuador seems determined to attract foreign investment and this makes establishing an export company in Ecuador an attractive opportunity. With assistance from a local partner, the process is relatively straightforward.

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How To Set-Up a Company/Legal Entity in Ecuador?

There are five types of companies that can be established in Ecuador. However, the most widely used companies are limited liability companies and public limited companies.

Currently, there are two ways to incorporate a company in Ecuador. In the traditional way, bylaws must be drafted, approved by the Superintendence of Companies and the Mercantile Registry, tax identification number obtained, bank account opened and Single License for Economic Activities paid in the municipality where the company is domiciled.

This process is slightly complex, takes more time (given greater levels of bureaucracy). However, it allows for a broader social purpose and adjusted to the specific activities of the company.

Our recommendation, however, is to incorporate your company online. In general, the requirements needed to establish a company online are filled through a form on superintendence of companies website. This form is filled by reserving a company name and providing information on the company shareholders. Once the notary and the Mercantile Registry have approved the deeds, they will be responsible for registering the company and the Internal Revenue Service (‘Servicio de Rentas Internas del Ecuador’ – IRS) will grant the company tax identification number (called a ‘RUC’).