An SAS takes one foreign shareholder, no minimum capital and an afternoon online. The weeks go elsewhere. Here is the sequence, what each step needs, which sectors are now off-limits, and the yearly filings that close companies.
The SAS (Sociedad por Acciones Simplificada) is how most new companies in Ecuador are formed — around 86 of every 100. It takes a single shareholder, which can be a foreign person or company, needs no minimum capital, and is incorporated online with the Superintendencia de Compañías at no state cost. The company receives its tax number (RUC) automatically.
For a founder abroad, the incorporation itself is the easy part. The time goes into apostilled documents, a person in Ecuador who can sign electronically and act for the company, and the bank. Realistically, four to eight weeks from start to a working account.
Law and practice: Ley Orgánica de Emprendimiento e Innovación (Registro Oficial Supl. 151, 28 February 2020); Supercias Resolution SCVS-INC-DNCDN-2020-0012.
| SAS | Cía. Ltda. | S.A. | |
|---|---|---|---|
| Shareholders | One or more, no maximum | 2 to 15 | Two or more |
| Minimum capital | None | US$400 | US$800 (25% paid at formation) |
| Formation | Online, free, by private document | Private document or deed | Private document or deed |
| Restricted sectors | Finance, securities, insurance, strategic sectors, mining (since June 2025) | None of these limits | None of these limits |
For a foreign-owned trading, services or technology company, the SAS is almost always the answer. Since the Ley Orgánica de Solidaridad Nacional of June 2025, however, an SAS cannot be used in financial services, securities, insurance, strategic sectors such as energy and telecoms, or mining. Those need an S.A. or Cía. Ltda.
Law and practice: Ley Orgánica de Solidaridad Nacional (Registro Oficial, 10 June 2025); Ley de Compañías as reformed in March 2023.
Individual shareholder
Passport copy; a power of attorney for the person filing in Ecuador, apostilled.
Corporate shareholder
Certificate of existence from its home registry, apostilled, and a certified list of its shareholders up to the individuals who ultimately own it.
Listed parent
A sworn statement can replace the shareholder list.
Translation
Documents not in Spanish are translated in practice.
The ultimate-owner list is not a formality: Ecuador reports beneficial owners to both the Superintendencia and the tax authority every year, and gaps cost more tax.
Law and practice: Supercias Resolution SCVS-INC-DNCDN-2020-0012, art. 7.
Online incorporation requires an Ecuadorian electronic signature. The Civil Registry issues one to foreigners on a passport for about US$31, but it must be collected in person at one of its offices. A founder who will not travel works through an attorney in Ecuador who holds a signature and files on the company’s behalf.
The law does not say in so many words that the legal representative must live in Ecuador. In practice, a representative without an Ecuadorian ID or visa cannot deal with the tax authority, the banks or the labour ministry, so foreign-owned companies appoint a resident representative from day one.
RUC
Issued automatically with an SRI password once the SAS is registered.
Tax address
A real address in Ecuador. The SRI has suspended the RUC of companies it could not find at theirs.
Capital
Paid in cash within the period in the bylaws, at most 24 months; there is no minimum.
Central Bank registration
Foreign capital should be registered with the Central Bank so that it can later be returned without ISD.
Law and practice: Central Bank of Ecuador procedure for registering foreign capital contributions; Resolution JPRM-2025-006-M.
Ecuador’s currency is the US dollar, so there is no exchange risk. Opening the account still takes time: most banks want the legal representative in person, the bylaws, the shareholder list traced to individuals and a certificate of good standing. A new company often starts with a savings account. Allow one to three weeks once the documents are complete.
Financial statements
Filed with the Superintendencia by 30 April. Not filing is the main ground for forced dissolution: more than 5,000 companies were dissolved in the first five months of 2025.
Ownership report
Beneficial owners reported to the SRI every February.
Annual fee
A contribution to the Superintendencia on real assets: nothing up to US$100,000, then from 0.74 per thousand.
Electronic invoicing
Mandatory; the SRI has targeted SAS that issue no invoices.
External audit
Required above set asset thresholds.
Law and practice: Ley de Compañías, art. 20; Supercias Resolution SCVS-INAF-DNF-2025-0006 (2025 contribution rates); SRI Resolution NAC-DGERCGC24-00000033 (beneficial owners).
| Step | Typical time |
|---|---|
| Apostilled documents for the foreign shareholder and power of attorney | 2–4 weeks |
| Electronic signature for the person filing in Ecuador | Days (collected in person) |
| Online incorporation at the Superintendencia de Compañías | Hours to a day |
| RUC and SRI password | Automatic on registration |
| Bank account and capital deposit | 1–3 weeks |
| Registration of foreign capital with the Central Bank | After the capital arrives |
| Total | About 4–8 weeks |
Yes. An SAS can have a single shareholder, and that shareholder can be a foreign individual or company.
No. Capital can be as low as one share, and cash capital must be paid within the period in the bylaws, at most 24 months.
Incorporation takes hours online, but with apostilled documents, an attorney with an electronic signature and a bank account, plan for four to eight weeks.
The SAS rules do not state it expressly, but in practice the representative must be able to deal with the SRI and banks, so foreign-owned companies appoint a resident.
Foreigners can obtain one on a passport, but it is collected in person. Founders abroad usually file through an attorney in Ecuador.
Since June 2025: finance, securities, insurance, strategic sectors such as energy and telecoms, and mining.
Financial statements to the Superintendencia by 30 April, a beneficial-ownership report to the SRI in February, tax returns, and the annual contribution where assets exceed US$100,000.
The 5% tax on money leaving the country.
The real cost of one employee and the 15% profit share.
Tell us who the shareholders are and what the company will do. We prepare the documents, coordinate the Ecuadorian side and track every step — fixed quote within one business day.
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