Provides references to local service providers and other professional associations.
Last Published: 8/1/2016

Companies new to the Ecuadorian market are strongly encouraged to retain professional services to structure commercial transactions. Establishing a wholly-foreign owned subsidiary, joint venture, or representative office requires compliance with complex contract approval requirements, business registration requirements, taxation regulations and statutes, and labor regulations. Some Ecuadorian professional service providers also have substantial experience serving foreign clients.

Accountants
Foreign companies should consider contracting for accounting services to prepare and file annual financial statements and other financial documents required by Ecuadorian law.

Attorneys
There are many international and domestic law firms in Ecuador, although no major U.S. law firms have offices in the country. In order to be licensed to practice in Ecuador one must attend and graduate from an Ecuadorian law school. However, those who have attended law schools in other countries are not prohibited from being partners at firms. Only attorneys licensed in Ecuador may appear in court and provide legal advice on Ecuadorian legal matters. Due to the restrictions and specific requirements in the banking and finance industry as well as for importing or exporting, retaining a domestic or international law firm that has licensed Ecuadorian lawyers is essential. The U.S. Embassy in Quito maintains a list of local attorneys: (http://photos.state.gov/libraries/quito/153436/ACS/Attorney-list.pdf).

Management Consultants
Foreign companies new to the Ecuadorian market often employ the services of local consultants to develop market entry strategies, conduct due diligence investigations, and identify potential investment partners, sales agents, and customers. Many of the major foreign consulting firms are active in the Ecuadorian market, along with a number of small niche players and many local companies.

Advertising
Advertising in Ecuador is regulated by the Regulatory and Development Council of Information and Communication (Cordicom). In June of 2013, the government passed the Organic Law of Communications which included restrictions on advertising. The law banned foreign-produced advertisements by instituting domestic ownership and production requirements for advertisements.  The law also requires government approval of all advertisements for food products and all advertisements to be shown during children’s programming. Additionally, an advertisement for any product whose regular use may affect the health of the user is prohibited. Such products include alcoholic beverages, tobacco products, and other products selected by the Health Ministry.  Advertising is also regulated by the Consumer Protection Laws and Regulations, the Childhood and Adolescence Protection Laws, and other various ordinances.

The advertising industry also self-regulates by voluntarily adhering to the Ecuadorian Code of Ethics and Self-Regulation for Advertisers. This code stipulates that the advertising agency will comply with the regulations and can be held responsible.

Prepared by our U.S. Embassies abroad. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.