If you are looking to expand your business globally and find new opportunities in markets across Latin America, then Ecuador is a country to consider. There has never been a better time move into the nation and explore your business opportunities. This is because of Ecuador’s strong and stable economy. According to the World Bank, between 2006 and 2014, Ecuadorian GDP growth averaged 4.3%, driven mostly by high oil prices and substantial external financing. Moreover, it has low barriers to entry and a range of business opportunities.
As Ecuador becomes a more attractive destination for businesses, it is keen to maintain a healthy business environment. To nurture this environment, the government has set up a compliance system.
The international governmental landscape is seeing a trend towards preventing money laundering. Consequently, controlling entities have been given bigger importance by many governments. Ecuador is part of this trend. In this sense, the Ecuadorian government has created the UAFE institution. The Ecuadorian government created The UAFE (Financial and Economic Analysis Unit) as a political entity to control the corporate compliance environment. As mentioned above, the main focus of the UAFE is to prevent money laundering within Ecuador.
In order to help you get a better insight on the corporate compliance requirements for Ecuador, our expert local team have created a Corporate Compliance Requirements presentation. We are confident it will help! If you have any more questions about how to incorporate your company in Ecuador then please contact our local branch.
Learn more about our legal and accounting experts, and the corporate secretarial services and compliance support we provide.
For more information about our legal and corporate compliance services in Ecuador, please get in contact with our local team.
Learn more about our accounting and legal experts, and legal and the corporate compliance support we can provide.