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Services · Business accounts

Business accounts: Ecuador

An honest assessment before work starts, the quote is fixed in writing.

We assess your chances against your profile, prepare the compliance file, help you present your source of funds properly and handle communication with the bank until it decides. The final decision always rests with the bank, so no one can guarantee an opening - careful preparation simply improves the odds.

We quote the exact cost for this country after a short consultation: it depends on the bank and your residency. The quote is fixed in writing before work starts.

Fees

ServicePrice
Corporate account - opening assistanceon request

Prices are indicative and cover our work on a typical case. We confirm the exact quote in writing after a short call - you know the final number before we start. Government fees and bank tariffs are billed separately unless explicitly included.

See also

Personal account · Investment property · Country taxes · All country programs

FAQ

Can a foreigner open a company account in Ecuador?
Yes, but only after you have an Ecuadorian company: registration, an RUC tax number and an appointed legal representative. The bank will not look at the file before that. An account for a foreign company with no local registration is effectively off the table.
Do I need an Ecuadorian resident as signatory?
Foreigners can own the company outright, but the legal representative needs a local identification number and banks expect the signatory to appear in person. Without someone holding a cedula and a local address, running the account becomes awkward. In practice a local representative is a necessity.
How long does it take to open a company account in Ecuador?
Once the company exists, banks typically take several weeks, longer where the owners are foreign. Expect repeat branch visits and follow-up document requests. No bank commits to a timeline.
Is there a tax on transfers out of Ecuador?
Yes. The ISD currency outflow tax is withheld on transfers abroad. The rate has been changed several times in recent years, so verify the current figure before you move money. It materially changes the economics of settling through an Ecuadorian account.

Don’t want to figure this out alone?

We handle the whole process end to end: we assess your company's chances with specific banks, prepare the compliance file and give you honest timelines. Leave your details and a corporate banking expert will get back to you. The first consultation is free.

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