Reasons why US companies should consider exporting to Ecuador:
• Companies can take advantage of the fact that Ecuador allows 100 percent ownership of foreign shares without the need for prior authorization or selection.
• Ecuador has no limits on the royalties that can be remitted when it comes to license and franchise transactions. Remittances are subject to a capital outflow tax, which is currently set at five percent.
• No currency problems. In 2000, Ecuador adopted the US dollar as the country’s official currency.
• Since 1986, Ecuador has had an Investment Guarantee Contract with the Private Ultramarine Investment Corporation. Ecuador is also a signatory to the Multilateral Investment Guarantee Agreement.
Visa requirements to enter Ecuador
If you are a US citizen who wishes to enter Ecuador, you must present a US passport with a minimum validity of six months. Ecuadorian immigration officials also sometimes request evidence of a return trip, such as a plane ticket.
Under Ecuadorian law, US citizens traveling for business or tourism with a tourist passport can enter Ecuador for up to 90 days per calendar year without a visa. Extensions for up to 90 more days can be requested through the provincial migration offices.
If you plan a visit of more than 90 days, you must obtain a visa before your arrival.
If you stay in Ecuador beyond the terms of your visa, you may be deported or be subject to a ban on re-entering Ecuador in the future. A fine can be imposed by Ecuadorian immigration before your departure
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