Home to roughly 16 million residents, with a 5 percent capital exit tax, fair trading agreements, and no royalties to pay, Ecuador is a country that is small in size but plentiful in the benefits it offers to international business owners operating in the region.
The convenient location of Ecuador makes the region especially attractive to working professionals, investors, and trading partners because the country borders both Colombia and Peru. Entrepreneurs from every nation can benefit from having a virtual office in Ecuador, but Americans using Ecuador virtual phone numbers have unique advantages. The United States dollar was adopted as the official currency in Ecuador in the year 2000, making currency exchange an especially easy process during sales and other financial transactions. American businesses are also granted 100 percent ownership of their foreign equity.
Higher education is valued in Ecuador, and the country is also renowned for its prestigious universities that focus on scientific research, attracting American and European students to the region to study abroad. The curriculums that students follow in Ecuador helps them to develop a high level of expertise in their career fields. Upon graduation, these students join a gifted and dedicated workforce across various industries, and international business owners are using Ecuador virtual phone numbers to connect with these talented workers.
Ecuador’s Economy Is Steadily Advancing
International startups with limited funding and well-established entrepreneurs have equal opportunity to succeed in Ecuador’s progressing economy when using Ecuador virtual phone numbers. Within the past 20 years, the country has undergone significant changes that have positively impacted the nation’s GDP and attracted more interest from businesses abroad.
Looking back to the year 2000, changing the official Ecuadorian currency to the U.S. dollar began to balance the economic gaps in the country, and made other countries more willing to work with Ecuadorian businesses because of the easier conversion of currencies.
In 2011, the tax rate was lowered from 25 percent to 22 percent. By 2014, Ecuador’s GDP was a record-breaking $102 billion dollars (USD). Ecuador virtual phone numbers are one of the resources that help investors stay abreast of the recent developments in this rapidly changing economy as they build relationships with local businesses and consumers.
Ecuador is a Prime Location for Investments
Investing in Ecuador is less daunting for foreign investors because the government provides direct support and guidance for entrepreneurs who are learning to operate their business in the country. The government in Ecuador believes in investing strategically, and your Ecuador virtual phone numbers can serve as the primary point of contact as you connect with government representatives. Naturally, it’s recommended to invest in the successful industries that are obviously profitable. But the government in Ecuador goes a step further by considering the long-term potential of every sector, gauging supply and demand and changing trends.
Currently, fishing, tourism, and agricultural businesses are among the top industries in the nation. If your business falls into one of Ecuador’s industries that are favored by the government, you’ll have greater opportunities to expand your business into the country. You’ll also avoid additional risks and uncertainties by using Ecuador virtual phone numbers to test the market before physically relocating.
To further support foreign business endeavors, the Ecuadorian government has designated free trade zones. In the free trade zones, foreign traders importing select products (such as raw materials) are not required to pay taxes, and the labor laws are less strict in these zones. This changes the standard rules for contracting workers. Instead of being obligated to follow year-long contracts, employers can opt for short-term agreements that better fit their needs. Foreign investors also qualify for five-year income tax exemptions when investing in diverse sectors, ranging from food services to technology.
Connect with Friendly Locals
Communicating with locals in Ecuador is an enjoyable experience because the locals embrace a spirit of sharing and community. With a lower cost of living, and high-quality healthcare at affordable prices, the locals in Ecuador are known to be relaxed and welcoming to newcomers. If you’re planning to take advantage of these benefits by relocating to Ecuador, your Ecuador virtual phone numbers will keep you connected with friends and family back home over a reliable and secure connection.
Whether you’re working locally or abroad, there’s something for everyone in Ecuador. Spanish and English are common languages, but the diversity of residents makes the country home to various dialects and lifestyles. Still, these diverse consumers expect companies to be honest about their products. With Ecuador virtual phone numbers, you’ll show residents that you’re making a genuine effort to be part of the local community instead of simply selling a service.
To strengthen your presence in Ecuador, connect your Ecuador virtual phone numbers as vanity numbers. Vanity numbers will make your contact information easier to remember and more marketable online and in print materials. Along with vanity numbers, your virtual phone numbers can be used to improve your marketing efforts by tracking the number of calls you receive and how many of these calls convert to sales.