Why Investors Should Setup Business in Ecuador?
Investors who are thinking about why they should setup a business in Ecuador will be on the look for the advantages in the country to make it worthwhile. After all, setting up a business in a foreign country is not an easy decision, nor one that should be taken lightly as there are a lot of things which are involved when it comes to setting up a business abroad.
Ecuador is considered a land of opportunity, and over the years, the country has made great efforts to strides to do what they can to attract foreign investment into the country. Liberalization of its investment regulations, equal treatment of both local and foreign investors are just some of the many changes which have taken place in the country that has helped it grow to become an international business destination for an investor with the right idea.
Positive Economic Indicators
The economic outlook of Ecuador is looking good right now, with inflation kept under control. The government remains supportive towards investments in the country, and this is only expected to get even better moving forward.
Free Trade Zones
Investing in Ecuador is much easier because of the existing free trade zones in the country which allow for the import of raw materials for example, and the export of finished or semi-processed material to be moved in the and out of the country without having to pay taxes. Businesses residing with the country’s free trade zones will face no restriction when it comes to the repatriation of their profits. Business also stand to benefit from the labor laws of the country which have been relaxed to allow workers to be hired on a temporary basis.
Importers Have a Competitive Advantage
Investors who are planning to setup a business in Ecuador in the import sector will find It advantageous to their businesses, thanks to the country’s strategic position and Diverse culture which opens a market for high-quality and specialty goods. The country’s open and friendly business culture makes it an ideal location to facilitate international transactions, which is why investors are not more keen than ever to setup a business in Ecuador.
The Currency Dollarization
Back in 2000, Ecuador made a bold move in an attempt to dollarize the country’s economy. Ecuador removed its currency from circulation and moved to make the US dollar its national currency instead. This move has benefitted the country significantly, helping to lower the country’s inflation rate and give the economy a boost. Businesses now have a solid platform on which to start a business setup with the stability of the currency in place.
