For anyone considering doing business in El Salvador, it is important to secure the services of an attorney you can trust. Because your corporate lawyer in El Salvador should be able to offer expert advice regarding your company formation and other commercial choices, and where they are also a qualified notary public, they will be able to authenticate documents for you, reducing costs and speeding up your market entry process.
Located on Central America’s Pacific coast and bordered by Guatemala and Honduras, El Salvador has seen consistent and exponential growth over the past three decades, both in terms of gross domestic product (GDP) and gross national income (GNI), according to World Bank data.
That growth saw El Salvador move into ‘upper-middle income’ status when its GNI hit $4,000 per capita (all figures in USD) in 2019, based on international standards. The country also experienced a 50 percent increase in foreign direct investment (FDI) inflows between 2016 and 2019, which grew from $480 million to $720 million.
El Salvador has a dollarized export-oriented economy and has traditionally welcomed foreign investment, offering multiple fiscal benefits to foreign companies operating in one of the seventeen free trade zones (FTZs) located throughout the country.
The Central American country has also reached free trade agreements (FTAs) with key markets in Europe and the Americas. Some of El Salvador’s main export commodities include garments, electrical devices, and plastic products. Beyond the United States, its main export destinations are Costa Rica, Guatemala, Honduras, and Nicaragua.
If you are considering market entry in Central America’s smallest country by area, read on to understand how a good corporate lawyer in El Salvador can help your business, or go ahead and contact us now.
How your lawyer in El Salvador will help
Getting to grips with local regulations and norms can be difficult, especially if you are not familiar with the local language, Spanish. Your lawyer in El Salvador will bring to the table a wealth of experience and familiarity with the market, and will be able to help you with a variety of tasks, such as:
Immigration support: Your lawyer in El Salvador will make representations on your behalf at the likes of the foreign affairs ministry to take care of visas and residence permits.
Entity choice: Based on your needs and business activities, your attorney will be able to advise you on the best type of entity to establish.
Legal representation: According to local law, you will need a locally-based legal representative able to answer on your behalf.
Administrative necessities: Your lawyer will be able to draw up official documents and contracts in support of your operations.
Product registration: Where you are bringing a product to market, your corporate lawyer will be able to oversee its registration, as well as registration of a brand or trademark.
What are notarial services?
A lawyer in El Salvador who is a qualified notary public has been authorized by the country’s Supreme Court of Justice to authenticate and legalize documents such as contracts, deeds, corporate statutes, or other important documentation required during the process of incorporating a foreign company in El Salvador.
A notary public in El Salvador can also act as a witness during the signing of a document, verifying both the identity of all signatories and their understanding of the agreement. Some of the documents that can be authenticated by a notary public include:
- Powers of attorney
- Company deeds
- Banking, insurance, and bonding documents
- Assembly of minutes
- Birth, marriage, and death certificates
How can a public notary support your business expansion?
Whether your lawyer in El Salvador is able to offer notarial services, or you will need to seek them out independently, you will need a notary public for the following:
Legalization of the company deed: You will need a notary public to formalize the establishment of your business by legalizing the public deed.
Modifications to articles of incorporation: In the event that the general meeting of shareholders of your company decides to modify the statutes, these must be formalized by a notary.
Certification of documents: Almost all processes carried out before public entities in El Salvador require the presentation of documents that must be duly certified by a lawyer in El Salvador who is a registered notary.
Formalization of contracts: Contracts carried out between two parties such as leases, sales, loans, or employment contracts, are agreements that only have legal validity once they are authenticated by a notary public.
How to find the right lawyer in El Salvador?
When looking for your ideal corporate lawyer in El Salvador, it is worth considering the following:
- Industry experience: Make sure that your lawyer has enough experience working with companies in your industry in order to minimize risks and inconveniences during your market entry.
- Information management: If you are going to mainly be outside of El Salvador, you will benefit from choosing a lawyer that uses a secure online information management system, which will allow you to access records anytime.
- Legislative awareness: Corporate legislation can be subject to change, so it is important you pick a lawyer in El Salvador who keeps abreast of recent and expected regulatory changes.
- Professional Reputation: It is a good idea to look at reviews and comments offered by previous clients, to be confident that the attorney you choose offers the professional service you need.
Biz Latin Hub can be your lawyer in El Salvador
At Biz Latin Hub, our multilingual team of lawyers is equipped to provide specialist legal services to help you incorporate your business in El Salvador in the shortest time possible, while ensuring full compliance with local corporate legislation. With our complete portfolio of company formation, HR, and accounting services, we are equipped to be your single point of contact to incorporate your business in El Salvador or any of the other 15 countries across Latin America and the Caribbean where we have a presence.
Learn more about our team and expert authors.