You are going to need to hire reliable corporate legal counsel in El Salvador if you are planning on doing business in this fast-growing Central American market.
Whether you are looking to form a branch in El Salvador, register a company, or engage in the market some other way, your legal counsel will be able to provide expert guidance to guarantee a rapid market entry in full compliance of local regulations.
Indeed, your corporate attorney in El Salvador will be able to advise you on which type of entity best suits your business needs, while providing valuable insight into the particularities of Salvadoran corporate law and the local market.
In the event you are not planning to be located in the country, your corporate legal counsel will be able to act as your legal representative — a mandatory position that should be appointed wisely given that this role involves being able to sign documents and broadly act on your behalf.
With all of this in mind, if you don’t have a firm grasp of Spanish, the official language in El Salvador, you will probably want to seek out legal counsel with a firm grasp of English. While in most cases a corporate lawyer in El Salvador will be able to communicate in English, the country is judged to have an overall “low” proficiency, so levels among professionals can vary significantly.
If you are in need of reliable legal counsel in El Salvador, read on to understand some of the legal areas you can expect them to help in, as well as getting some insight into what makes the Salvadoran market an attractive option for investment.
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Fields of law your legal counsel in El Salvador can assist with
To enter and operate in the market, you will likely need your legal counsel in El Salvador to cover a number of areas of corporate law, including the following:
- Intellectual property: Your corporate legal counsel in El Salvador will be able to protect your intellectual property, whether that is by registering a brand or product, to help guarantee your market competitiveness.
- Trade law: Your attorney in El Salvador will be able to offer advice on law related to importing and exporting products, as well as norms with regards to invoicing, transfer pricing, and other elements of trade law.
Tax law: Your legal counsel in El Salvador will be able to assist you with regard to your taxes, including tax planning to minimize your burden, and guaranteeing compliance in order to avoid legal inconveniences in the future.
- Labor law: Your attorney in El Salvador will be able to offer comprehensive advice related to employment and labor law, helping you to effectively manage your local staff and be compliant with all statutory contributions and responsibilities in that regard.
Investing in El Salvador
While El Salvador is not the best-known investment destination in Latin America and the Caribbean, it has a great deal of potential and is seeing increasing interest from foreign capital.
Since a decade-long civil war in the country came to an end in 1992, El Salvador has experienced considerable and almost unbroken growth in gross domestic product (GDP), which rose almost fivefold between the conflict ending and 2019, when it reached $27.01 billion (all figures in USD).
That has been met with a concomitant rise in prosperity, which hit $4,000 per capita in 2019, placing El Salvador as an upper-middle income nation by international standards.
El Salvador has a diversified economy, with the services sector contributing almost 60% of GDP, while industry contributes almost 26% and agriculture more than 5%. Among key export products are agricultural products such as sugar and coffee, and manufactured goods such as garments, electrical machinery, pharmaceuticals, and plastic goods.
The country maintains 17 free trade zones (FTZs), offering significant incentives for investment, with much of the country’s industrial base found in these areas, while it also has a growing tech sector, which can be expected to contribute to the country’s post-pandemic recovery.
Biz Latin Hub can be your corporate legal counsel in El Salvador
At Biz Latin Hub, our team of multilingual legal services experts has extensive experience assisting foreign companies in entering and operating in the Salvadoran market. With our complete portfolio of corporate support and back-office services, including accounting, recruitment, and commercial representation, we can be your single point of contact for doing business in El Salvador, or any of the other 17 jurisdictions around Latin America and the Caribbean where we operate.
Reach out to us now for a consultation or free quote.
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