Our services is to provide the necessary advice for your investment, considering your requirements and the nature of economic activity, for which, we will structure the most appropriate type of society.
In Ecuador there are two types of companies under the control of the Superintendency of Companies. The fastest is the electronic constitution, and the other mode is the regular constitution company.
What kind of companies exists in Ecuador?
Basically there are two types of companies under the control of the Superintendency of Companies, the first is the Limited Company with capital and personalistic characteristics closed, and the other is the S.A., with free float, the two companies are perfectly valid and will depend on the course of business and strategies for growth and investment.
What name you can put your company?
You can book any name for your company, if it is available and meets the parameters booking, our services include advice and necessary steps to fulfill this step.
How many members are required to form a company?
If it is a limited company requires at least two shareholders and if a company limited three partners, however, limited company can survive with only one partner later.
What is the minimum capital of each company?
They require public companies established with a minimum capital of USD $ 800.00; and limited to USD $ 400.00.
What are some ways I can contribute capital formation?
Capital contributions may be in cash (money) or in goods, in the constituent must be provided at least 50% of the share capital in the limited (USD $ 200.00) and 25% in corporations (USD $ 00,00).
How many activities can include objects of a company?
The object of the company shall cover a single business and could include the development of several stages or several stages of the same activity, interrelated and complementary to it, provided that the rotation of the company is framed within a single economic classification, for example, pharmaceutical, mining, real estate, construction, among others.
How long is the incorporation of a company?
If the constitution is in electronic form, within approximately 72 hours starting from the reservation of the name, you can have your company listed. The process involves the Superintendency of Companies, the Internal Revenue Service, Commercial Registry, Notary and Pacific Bank as an authorized financial institution. If the constitution is the regular way you can take up to a period not exceeding 30 days, the difference with the electronic constitution is that regular constitutive process previously passed through a more exhaustive control in the electronic process, without this meaning that is exempt from subsequent control.
What obligations must comply with a company?
Every company must meet corporate obligations regarding presentation of balance sheets, reports manager, external auditors while under the requirements of the watchdog, list of shareholders, payment of taxes; in taxation, the tax on income, VAT, Annexes to withholding income tax; labor and social security obligations to the IESS; among others. It will also depend on whether the company is under total control of the competent authority, in this case, will be subject to control legal, societal, economic, financial and accounting aspects, such control is exercised over: companies of mixed economy, holding, branches Foreign companies, bond issuers, entities governed by the Securities Market Act. If it is subject to partial control, control governed on the approval or denial of corporate actions such as capital increases, alteration of statutes, mergers, dissolutions, liquidations, among others.
When the company requires external audit?
When companies are mixed and Economics Limited, involved in a legal entity of public or private entities with social or public purpose, with assets exceeding USD 100,000; branches of foreign companies with assets in excess of USD 100,000, stock companies and limited liability companies whose assets exceed USD 1,000,000, regulated by the Securities Market Act and radio companies obligations.
What books should keep social company?
Every company subject to supervision by the Superintendency of Companies, Securities and Insurance should preserve and properly maintain the so-called "social book", these are: 1. Free shares and shareholders, whether they are public companies, or the Book of Partners and Shares, if they are limited company. In this book titles and certificates in registered form, with annotation transfers, establishment of real rights and other changes affecting the rights over the shares or the shares are registered. 2. The Book Checkbook, in which the shares or certificate delivered contributions to shareholders or partners are recorded. 3. The Book of Acts, which shall contain the minutes of Annual General Ordinary, Extraordinary or Universal or directory entered into by the company. 4. The Book of Acts records that keep all those qualifying documents that were the subject of the agenda of each session of the General Meeting, are, therefore, the support for the decisions taken by the shareholders or members.
What are the books to keep the company?
They are books that recorded orderly business operations undertaken by society in a given period of time, and constitute the journal, Mayor, Cash, Inventory, and also that of the banks.
Are there other forms of corporate structure?
We have noted that the two most common corporate figures are public companies and limited, however, other forms of corporate structuring, com are the companies in collective name, limited partnership, joint stock, partnership or joint accounts, holding companies or holding of shares, among others, each with its own characteristics and nature, however, it will be the particular requirements of each customer to define what kind of corporate structure is the most suitable to their needs and interests.
