DOING BUSINESS IN ECUADOR DOING BUSINESS IN ECUADOR 2 CONTENTS: 1 - Introduction 3 2 - Business Environment 4 3 - Foreign Investment 10 4 - Setting up a Business 14 5 - Labour 15 6 - Taxation 17 7 - Accounting & Reporting 27 8 - UHY Representation in Ecuador 28 DOING BUSINESS IN ECUADOR 3 1. INTRODUCTION UHY, established in 1986, with headquarters in London, United Kingdom, is a leading network of independent auditing, accounting, consulting and business firms with offices in more than 325 corporate centers in more than 95 countries. Our services and teams adapt to the culture of each client, including companies that trade on stock markets, large- and medium-size businesses, private companies, non-profit organizations and public companies. Commercial partners work together through a business network to carry out transactional operations and better serve our clients, as well as offer specialized knowledge and experience within its own national borders. The staff of specialized professionals is available within this worldwide network to respond to any type of consultation. This is a detailed report that discusses the main topics and financial information, for national and foreign investors, that are considering setting up commercial operations in Ecuador. This information has been provided by the office of representatives of UHY ECUADOR: UHY Assurance & Services Cía. Ltda. Pedro Ponce Carrasco E9-25 and Av. 6 de Diciembre. Multiapoyo Building, 9th Floor Quito, Ecuador Telephone: +593 2 3530204 Website: www.uhyecuador.ec Email:
[email protected] Please contact UHY Assurance & Services (
[email protected]) if you have any questions or comments. The information contained herein is current as of May 2020.