Legal Analysis Of How To Do Business In Ecuador

• Published date: 24 February 2021
• Subject Matter: Corporate/Commercial Law, Employment and HR, Government, Public Sector, Inward/ Foreign Investment, Corporate and Company Law, Contracts and Commercial Law, Contract of Employment, Employee Benefits & Compensation
• Law Firm: CorralRosales
• Author: Ms Andrea Moya, Rafael Serrano and Marta Villagómez

"ExpoMembers," the virtual fair organized by the Ecuadorian-German Chamber of Industries and Commerce (AHK), took place in February. Some of our lawyers have been able to participate in the event, and Idealex has echoed the news.

Andrea Moya- partner of the firm and specialist in International Tax Law, Rafael Serrano- senior associate and director of the Data Protection area, and Marta Villagómez- an associate specialist in the Labor Law area, spoke from different perspectives of Law at the opening of the event on "How to do business in Ecuador? A legal analysis from the corporate, labor, tax and customs perspective."

Each of the lawyers presented their point of view from the area of specialization that they lead. So, Rafael Serrano stated that "the main benefits of investing are the low inflation rate concerning the US dollar; and a good transport infrastructure, which facilitates the mobility of goods and services. There is also a network of commercial and double taxation agreements ".

He also added the legal regime in Ecuador as another of the main advantages due to laws that "facilitate, promote, and protect investment."

From another angle and referring to the corporate area, he added that there is a company law that admits that foreign investment does not need express authorization from the control body and the appearance of Simplified Corporations.

Marta Villagómez analyzed some novelties related to the implementation of new employment contracts that are less rigid than the permanent one, such as that of...