Please find the most recent information by visiting the following link: https://www.bizlatinhub.com/legal-set-up-a-company-in-ecuador/ 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

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ECUADOR

2. Latin America's leading provider of
Market Entry and Back Office Services
How to Form a
company in Ecuador
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3. 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
Market Entry and Back Office Services.
The group is owned and managed by an experienced team
of local and expat professionals, dedicated to assisting
clients navigating their way through the complexities of
the Latin American business environment.
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How to Form a Company in Ecuador
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4. 10 Steps
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How to Form a Company in Ecuador
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5. 5
STEP 1 - Choose the type of legal
structure for your business
needs
How to Form a Company in Ecuador
There are 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
This presentation will outline the process of setting up a:
The majority of companies that are set up in Ecuador are
Limited Liability Companies (SRL).
Limited
Liability
Company
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*The appropriate one for you depends on your business needs

6. How to Form a Company in Ecuador
• Yes
Is Foreign Ownership Allowed?
• Yes
Can Company Sponsor Foreign
Employees?
• Zero
Capital Controls
• 4 weeks
How Long Does It Take (Including
Bank Account)
• >USD $400
Minimum Capital
• Yes, in order to obtain the RUC number
Requires a fiscal address and
legal representation?
• US Dollars
Currency
• 2
Min number of Shareholders
Key Considerations when Forming
a Company in Ecuador
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7. STEP 2 - Power of Attorney
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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.
How to Form a Company in Ecuador
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8. STEP 3 - Registration of company name
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You have to reserve the company name at the
Superintendent of Companies online on:
http://www.supercias.gob.ec/portalConstitucionE
lectronica/
How to Form a Company in Ecuador
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9. STEP 4 - Minutes of
incorporation and BYLAWS
-You have to register documents and prepare the
minutes of incorporation which include the
contract, articles of incorporations, company’s
bylaws, and the formation of capital.
-You need to find a lawyer that is able to constitute
and sign the documents.
-Remember! A public notary is necessary for
notarizing the documents.
How to Form a Company in Ecuador
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10. STEP 5 - SUPERINTENDENCE of
companies
An important step…
You must register at the Superintendence of
Companies in order to obtain the company’s unique
number and pay the annual registration fee.
Documents required for this registration include:
- Address of the company
- Name of the legal representative
- A certified copy of the public deed of the constitution of
the company
The information will be published online within 24
hours and then the company is registered.
How to Form a Company in Ecuador
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11. STEP 6 – company’s Legal
existence
Getting formal…
• You have also to register the company’s objective,
resolutions and the name of the legal representative
in the Mercantile Registry Office.
• This is necessary for conforming the legal
existence of the company. The Registry Office will
provide you a registration number “numero de
codigo”.
How to Form a Company in Ecuador
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12. STEP 7 – OBTAIN FISCAL CODE
Once you have completed these steps, you have to
apply for the Fiscal Code (Registro Unico de
Contribuyentes - RUC) at the Servicio de Rentas
Internas.
This takes 24 hours.
How to Form a Company in Ecuador
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13. 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.
How to Form a Company in Ecuador
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14. 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.
How to Form a Company in Ecuador
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15. We Can Help!
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Biz Latin Hub is a
market leader in
helping local and
foreign companies to
successfully do business
in Latin America
For more
information
please contact
David at
Multi-lingual
services that are:
-Reliable
- Economic
- Tailored ecuador@bizlatinhub.com
How to Form a Company in Ecuador

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