27% of shareholders of companies incorporated in Ecuador by simplified mechanism are women

The new system has been in effect since May 18, 2020 and up to last February 5,941 companies have been established.

In only ten months since its entry into force, the51%of the constitutions of new companies in Ecuador is already done through the process ofSimplified Stock Company (SAS), a system that saw the light ofMay 18, 2020, indicated theSuperintendency of Companies (SuperCías). Thus, from May 2020 to February of this year they have been created5,941 companiesthrough SAS; versus5.268of another type of company.

Meanwhile, the entity, through a statement, stressed that the incorporation process has been positively received by entrepreneurs who have seen in this corporate figure an opportunity to formalize their businesses in an agile way and at no cost.

About its benefits the SuperCías. He recalled: "They do not require a public deed, minimum capital and can be engaged in any commercial activity and be constituted by a single person."

In addition, to be commemorated on March 8, theInternational Women's Day, theNational Directorate for Research and Studies of the SuperCías.prepared a study, in which it reveals through indicators the participation of women in SAS companies. The report highlights that el 27% of shareholders are womenand the same percentage corresponds to women who act as legal representatives.

The article also points out that an important participation of women in the business sector is the branch of activity of the company that they establish, since it tends to have greater representation in sectors such as commerce and services, where the participation of women is the 28%. The 44% and 41% of the shareholders of companies in the “other service activities” and “accommodation and food services” sectors are women, respectively.

Meanwhile, on the results of the new system, SuperCías. He highlighted that the establishment of a company through the SAS electronically takes only two days on average, unlike the traditional physical way that takes 45 days, the electronic 6 and the physical (SAS) 7 days.