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 Constitution mandates that the president stay in his functions up to a four-year term and can be reelected only one time.

The legislative branch of the state is the National Assembly, which is integrated by assemblymen elected for four-year terms. The judiciary is comprised of the National Court of Justice, Provincial Courts, Appeals Courts and the Constitutional Court.

The total population of Ecuador is 14,483,499 (2012 estimate). Spanish is the official language of Ecuador and many people are familiar with English in the main cities. The U.S. dollar was established as Ecuador’s official currency in March 2000.

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Topics:  Competition, Foreign Corporations, Foreign Investment, Foreign Subsidiaries, Foreign Trade Zones, Income Taxes, Latin America, Limited Liability Companies, Patents, Trademarks

Published In: Business Organization Updates, General Business Updates, Finance & Banking Updates, International Trade Updates, Tax Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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