Publisher:
JD Supra
Publication date:
2019-04-29

Latest documents

  • Buying And Selling Real Estate In Ecuador (Updated)

    KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER ECUADOREAN LAW -
 
 I. STANDARD FORMS OF AGREEMENTS -
 
 A. Offer to Purchase sets forth Buyer’s offer of price, date for closing, contingencies for inspections, financing etc. and date for signing a formal Promise of Purchase and Sale agreement, which for validity has to be a notary public deed.
 
 B. Promise of Purchase and Sale Agreement sets forth the complete terms of the purchase and sale...
 
 Please see full Chapter below for more information.

  • Establishing A Business Entity In Ecuador

    1. GENERAL INTRODUCTION: 
 
 In Ecuador, foreign individuals or corporations in general are permitted by law to invest, except in the so called “strategic sectors of the economy”: electricity, water and sewage, highways, airports, ports and railways infrastructures, oil and others. However, those fields can also be given in concessions or associations by the State for a certain period of time and by payment to the State of a royalty according to the respective contracts negotiated with the State after the corresponding biddings....
 
 Please see full Chapter below for more information.

  • Expanding Cannabis Operations in Latin America & The Caribbean: Ecuador

    Medical Use: No. There is proposed legislation (Health Code) for congress approval.
 
 Recreational Use/Adult Use: Recreational/adult use is not permitted.
 
 Current Regime/Legislation (or Proposed Legislation):
 
 Current: The Criminal Code establishes that possession of narcotic or psychotropic substances for personal use or consumption in the amounts established by the corresponding regulations shall not be punishable: for cannabis is 20ml- (Official registration supplement 628 of Nov 16, 2015)....
 
 Please see full Chapter below for more information.

  • Almost Entire Ecuadorian Population Affected by Massive Data Breach

    The Ecuadorian Ministry of Telecommunications and Information Security has announced an investigation into data analytics company Novaestrat after news broke this week that the company left an Elasticsearch server open without any password protection, allowing open access to the data.

  • Buying and Selling Real Estate in Ecuador

    KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER ECUADOREAN LAW -
 
 I. STANDARD FORMS OF AGREEMENTS -
 
 A. Offer to Purchase sets forth Buyer’s offer of price, date for closing, contingencies for inspections, financing etc. and date for signing a formal Promise of Purchase and Sale agreement, which for validity has to be a notary public deed.
 
 B. Promise of Purchase and Sale Agreement sets forth the complete terms of the purchase and sale...
 
 Please see full Chapter below for more information.

  • Ecuador’s Termination of Bilateral Investment Treaty With the United States Impacts E-2 Visa Holders

    On May 18, 2018, the Department of State (DOS) announced the termination of a bilateral investment treaty (BIT) between the United States and Ecuador, a year after the government of Ecuador provided notice of the termination. The termination of the BIT affects the availability of E-2 treaty investor visas for Ecuadorian nationals.

  • LATIN AMERICA & THE CARIBBEAN: A Legal Guide for Business Investment and Expansion - Ecuador

    1 .What role does the government of Ecuador play in approving and regulating foreign direct investment? 
 
 The Ecuadorian state guarantees and promotes foreign investments. Foreign investors have the same rights and obligations as Ecuadorian individual and institutional investors.
 
 The Government has encouraged foreign investment issuing new legislation, with tax exemptions or reductions in order to encourage projects were the state works together with the private sector.
 
 Please see full Chapter below for more information.

  • Debt Dialogue: May 2017 - Follow-up: Second Circuit Affirms Dismissal of Action on Ecuador Debt Based on Expansive No-Action Clause

    The January 2017 issue of Debt Dialogue reported on a decision rendered in federal court for the Southern District of New York, Penades v. The Republic of Ecuador (SDNY Sept. 30, 2016), on the application of a no-action clause found in an indenture governing sovereign debt of Ecuador.

  • The Empire (State) Strikes Back: Six Highlights of New York’s New Cybersecurity Regulations for Financial Institutions

    The New York Department of Financial Services (NYDFS)’s finalized Cybersecurity Requirements for Financial Services Companies (“regulations”), went into effect on March 1, 2017. NYDFS has provided a 6 month safe harbor to enable institutions to become compliant: initial compliance is expected by September 2017.

  • Newsletter TAX – Transfer Pricing Ecuador

    The Internal Revenue Service in Ecuador (hereinafter, “SRI” for its acronym in Spanish) established  regulations in regards to indirect expenses in order to apply a deductibility threshold for these expenses when calculating the Income Tax for Ecuadorian taxpayers, when expenses have been allocated from abroad by their related entities.

Featured documents

  • Doing Business in Latin America and The Caribbean: Ecuador

    Situated on the northwest coast of South America, the Republic of Ecuador encompasses an area of approximately 256,549 square kilometers, or 99,438 square miles.
 
 
 
 Ecuador is a constitutional, democratic, sovereign and independent state.
 
 
 
 The 2008...

  • Eleventh Circuit Affirms District Court’s Decision Allowing Discovery For Use In Foreign Proceeding

    The Eleventh Circuit affirmed a decision permitting discovery for use in foreign proceedings which were contemplated but not yet pending. In this case, which arose from a billing dispute between Consorcio Ecuatoriano de Telecomunicaciones S.A. (“CONECEL”) and Jet Air Service Ecuador SA, CONECEL...

  • "The 'Law 42' Arbitrations Against Ecuador and the Importance of BIT Language"

    Bilateral Investment Treaties (BITs) afford investors a series of guarantees against expropriation or unfair treatment of investments in foreign jurisdictions. They also typically allow investors to enforce those rights before a neutral international arbitral tribunal under the rules of the...

  • Ecuador Imposes Safeguard Import Tariffs

    On March 6, 2015, Ecuador announced that it is imposing a balance of payments safeguard consisting of import tariffs between 5 and 45 percent on approximately 32 percent of products. The safeguard measure becomes effective on March 11, 2015, and will remain in place for 15 months, after which it...

  • Latin American Environmental Regulatory Tracker

    This month’s tracker reflects key initiatives from January 15, 2015 – February 15, 2016.

 

 LAR is quickly embracing consumer-right-to-know initiatives through a host of new proposed labeling and product claims standards. Some of these are broad bills that would cover a range of...

  • Newsletter TAX – Transfer Pricing Ecuador

    The Internal Revenue Service in Ecuador (hereinafter, “SRI” for its acronym in Spanish) established  regulations in regards to indirect expenses in order to apply a deductibility threshold for these expenses when calculating the Income Tax for Ecuadorian taxpayers, when expenses have been allocated ...

  • The Empire (State) Strikes Back: Six Highlights of New York’s New Cybersecurity Regulations for Financial Institutions

    The New York Department of Financial Services (NYDFS)’s finalized Cybersecurity Requirements for Financial Services Companies (“regulations”), went into effect on March 1, 2017. NYDFS has provided a 6 month safe harbor to enable institutions to become compliant: initial compliance is expected by...

  • Debt Dialogue: May 2017 - Follow-up: Second Circuit Affirms Dismissal of Action on Ecuador Debt Based on Expansive No-Action Clause

    The January 2017 issue of Debt Dialogue reported on a decision rendered in federal court for the Southern District of New York, Penades v. The Republic of Ecuador (SDNY Sept. 30, 2016), on the application of a no-action clause found in an indenture governing sovereign debt of Ecuador....

  • Ecuador’s New Competition Law

    On October 11, 2011, Ecuador passed a new competition law, two weeks after it was approved by the legislature. The new Regulation and Control of Market Power Law (the Law) introduces merger control in Ecuador as well as behavioural penalties for cartels and abuse of dominance. The new law also...

  • LATIN AMERICA & THE CARIBBEAN: A Legal Guide for Business Investment and Expansion - Ecuador

    1 .What role does the government of Ecuador play in approving and regulating foreign direct investment? 
 
 The Ecuadorian state guarantees and promotes foreign investments. Foreign investors have the same rights and obligations as Ecuadorian individual and institutional investors.
 &#13...