Doing Business in Ecuador
International companies need to know that doing business in Ecuador might be challenging but rewarding with proper guidance. There are many key issues that differ from other legal systems that can be easily detected prior to any negotiation. We look forward to assisting new ventures starting businesses in Ecuador or assisting them to comply with all the handling and maintenance needed.
Credit Securement
Commercial transactions between common law systems and code-based legal systems are very different and can be risky if the credits are not properly secured.
Our legislation provides a summary procedure to demand payment of a credit; however the instruments need to fulfill very strict legal requirements in order to be valid for this procedure. Regular procedures are often long, complex and resource-consuming, therefore we highly encourage foreign businesses to review the credit instruments and the transactions with us to prevent any eventuality and secure the credits properly.
Preventive legal advice can save years of litigation for a fraction of its cost.
Collections
Our collection services include credit investigations, out-of-court settlements, litigation, arbitration, judgment enforcement, deficiency judgments, insolvency and bankruptcy procedures.
We offer our collection services on a contingency basis applying the rates fixed by the Commercial Law League of America.
We are members of the International Association of Commercial Collectors.
Accounting
The firm counts with in-house accountants to provide bookkeeping, accounting services, personnel management and outsourcing solutions for companies, subsidiaries, or local branches as well as auditing authorized dealers, licensees, franchisees or local subsidiaries. It is worth to note that an accountant assumes full legal responsibility, including in the criminal fields, jointly with the company’s administrator. Furthermore, our accounting services include the application of the recently required IFRS (International Financial Reporting Standard).
Tax
Our taxation lawyers, together with the accounting team provide the best strategies to do business in Ecuador depending on the client’s needs. We provide tax counseling for different business models or several alternatives in tax planning to participate in the market.
