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Email: info@mevconsultants.com
Email: info@mevconsultants.com
Register a company in Ecuador
Company incorporation, bank accounts, accounting services in Ecuador
Registration packages
Services
Essential
Standard
Premium
Company registration (Cía. Ltda.)
Annual registered address
Notary services and company seal
Remote corporate bank account
Accounting services
Start your company in Ecuador
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How you can register a company in Ecuador with us
Submit shareholder and director information to our firm with a signed power of attorney
Settle a payment for registration and banking assistance
Receive corporate documentation of the registered company and access to the corporate bank account of your company
Key details about Ecuador
Republic of Ecuador is located in the northwestern part of South America. Ecuador has a territory of 256,370 square kilometers. Ecuador borders Colombia and Peru and has access to the Pacific Ocean. The capital city of Ecuador is Quito, the location of key government institutions. Ecuador has a population of 17,72 million people.
Corporate taxation, VAT taxation, Personal taxation
- Corporate income tax - 25%. Tax returns are filed on an annual basis
- Dividend withholding tax - 10% and 14%
- Interest withholding tax - 25%
- Royalties withholding tax - 25%
- Capital gains tax - 0% and 10%
- VAT - Standard tax rate 12% or a reduced rate of 0% or tax exempt. Tax returns are filed on a monthly basis
- Personal income tax - from 0% up to 35%.
The following are the most common types of companies to incorporate a company in Ecuador as:
- Limited liability company (Compañía de Responsabilidad Limitada - Cía. Ltda.)
- Public limited company (Compañía Anónima)
- General partnership (Compañía Colectiva)
- Limited partnership (Compañía en Comandita Simple)
- Partnership limited by shares (Compañía en Comandita por Acciones)
- Mixed economy company (Compañía de Economía Mixta)
- Branch office (Sucursal).
- Individuals or legal entities that are intending to register a company in Ecuador can either be resident or non-resident in Ecuador.
- A resident or a non-resident individual can be a company director in Ecuador. It is, however, required to set up a company in Ecuador with a resident legal representative.
- At least 2 shareholders are required in order to register a company in Ecuador if such company is incorporated as a Cía. Ltda. (a limited liability company). An individual shareholder can simultaneously become a director of this company.
- It is not required to create substance (resident employees, office space) in Ecuador in order to establish a company in Ecuador or to conduct business in the country.
- Minimum share capital that is required in order to start a company in Ecuador as a Cía. Ltda. (a limited liability company) is USD 400.
- Cía. Ltda. registration takes between 15 and 20 business days with the bank account taking up to 20 business days.
- Details of company founders, shareholders and directors after company registration in Ecuador is complete is publicly available in the state corporate register.
- With our service you can register a company and open a corporate bank account completely remotely in Ecuador upon a power of attorney.
Official currency of Ecuador is the United States Dollar (USD).
Ecuador is a developing economy which is significantly dependent on commodities - petroleum, agricultural and aquacultural products. Oil makes up 40% of country's exports. Ecuador is the world's largest exporter of bananas and a major exporter of shrimp. Due to shifts in global markets and development of technology, Ecuador had economic development in textile production, processed food, metallurgy and service sector.
In terms of foreign trade the largest exports of the country are oil, petroleum, gold, copper, bananas, sugarcane, palm oil, maize, rice, potatoes, cocoa, pineapples, oranges, shrimp, tobacco, cigars, flowers, cut flowers, wood, precious metals.
Imports of Ecuador consist of electrical machinery and equipment, cars and vehicles, electric conductors, consumer goods, medicaments.
Primary trading partners of Ecuador are Chile, Colombia, Brazil, Peru, Panama, Mexico, the USA, China, South Korea, Spain, Netherlands, Germany, Italy.
The GDP of Ecuador grew by 4.2% in 2021 and amounted to USD 106.16 billion. Tertiary sector makes up 53.5% of the GDP of the country, followed by industry sector at 31.2% and agriculture at 9.5%.
Ecuador is a developing economy which is significantly dependent on commodities - petroleum, agricultural and aquacultural products. Oil makes up 40% of country's exports. Ecuador is the world's largest exporter of bananas and a major exporter of shrimp. Due to shifts in global markets and development of technology, Ecuador had economic development in textile production, processed food, metallurgy and service sector.
In terms of foreign trade the largest exports of the country are oil, petroleum, gold, copper, bananas, sugarcane, palm oil, maize, rice, potatoes, cocoa, pineapples, oranges, shrimp, tobacco, cigars, flowers, cut flowers, wood, precious metals.
Imports of Ecuador consist of electrical machinery and equipment, cars and vehicles, electric conductors, consumer goods, medicaments.
Primary trading partners of Ecuador are Chile, Colombia, Brazil, Peru, Panama, Mexico, the USA, China, South Korea, Spain, Netherlands, Germany, Italy.
The GDP of Ecuador grew by 4.2% in 2021 and amounted to USD 106.16 billion. Tertiary sector makes up 53.5% of the GDP of the country, followed by industry sector at 31.2% and agriculture at 9.5%.
Foreign entrepreneurs expand to Ecuador and seek to incorporate a company in Ecuador in order to conduct business in the following sectors:
- mining
- energy
- manufacturing
- agriculture
- telecommunications
- utility industry
- plastics machinery
- tourism
- automotive parts and accessories
- real estate.
Benefits of registering a company in Ecuador
Business climate
- Multiple active free trade agreements: Associate Member of Mercosur, CAN, EFTA
- Location of Ecuador allows to establish maritime trade with North, Central and South American states, as well as with Asian and Pacific states
- Vast natural resources
- Foreign investment promotion
- Well-developed infrastructure
- Political stability
- Secure legal and justice systems
- Comprehensive protection of property rights
- Comprehensive personal security
- Investment protection
- Low inflation
Tax incentives
- Free trade zones that provide corporate tax incentives
- Double tax treaties with several jurisdictions
Ease of doing business
- Both the company and the bank account can be opened completely remotely
- No foreign exchange controls
Register your company in Ecuador
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