AVL reminds our clients since the next year 2022, the Ecuadorian companies integrated with foreign shareholders must comply with the obligation to report their legal information directly to the Tax Authority – SRI (Servicio de Rentas Internas); no longer before to Companies Superintendency (SCVS).

In this regard, according to the Companies Law, the report shall comply with the following: •Until December of each year: Good Standing certificate of the foreign shareholder; the shareholders list revealing the entire structure up to the final beneficial owner; and the stock exchange certificate (if applicable). •Notify the SRI with the information referred to in the previous point, until January of each year. •The shareholders’ list must be certified by the foreign shareholder legal representative before a Notary Public in Ecuador. •This obligation must also be fulfilled by the Simplified Stock Companies (known as SAS).  

Comply with this report on time and avoid penalties and take precautions to be up to date with your obligations.

For any additional information, we will be attentive to providing the necessary support.