Limited Liability Companies
Pursuant to the Ecuadorian Companies Act a Limited Liability Company (in Spanish: "Compañía de Responsabilidad Limitada") may have one of the following organizational structures:
- One or more Managers (in Spanish: “Administrador con Representación Legal”) and a General Shareholders Meeting (in Spanish: “Junta General de Socios”).
- One or more Managers, a General Shareholders Meeting and a Supervisory Board (in Spanish: “Comisión de Vigilancia”).
Pursuant to the Ecuadorian Companies Act a Stock Company (in Spanish: “Compañía Anónima”) must have the following organizational structure:
- One or more Managers, a General Stockholders Meeting (in Spanish: “Junta General de Accionistas”) and a Board of Directors (in Spanish: “Directorio”).
Please see, respectively, “Managers”, “Board of Directors”, “Supervisory Board”, “General Shareholders Meeting” and “General Stockholders Meeting” in the left side menu for a more in-depth description of each structure, including how to change the respective board members.
Bustamante & Bustamante has provided all input about changing board members in Ecuador. Founded in 1956, Bustamante & Bustamante is a full service law firm based in Quito, Ecuador, with worldwide correspondence connections. The Firm is composed of over 35 attorneys and more than 70 support staff members, and provides continuous and integral legal and accountings services to national and foreign clients, including multinational companies, mutual funds, foreign governments and multilateral institutions.
For more information about Bustamante & Bustamante and changing board members in Ecuador, please use the below contacts:TEL: (593) 22562680 ext 255