10 steps to incorporating in El Salvador in 2024

Please find below an overview of El Salvador business incorporation procedures: our Client will not have to travel to complete them or to open a corporate bank account in El Salvador for the company, as both services are included in our El Salvador company formation services. Please find a descriptive below about how the engagement will be completed:

1. Before Healy Consultants proceeds with the engagement, our Firm requests all our Clients to i) settle the fees applicable to the engagement ii) sign and return us our Client engagement letter and iii) provides us all the due diligence documents required for our due diligence checks;
2. Healy Consultants drafts a detailed El Salvador business formation engagement project plan. This plan will map out, week by week, each step to engagement completion, optimizing transparency and settling Client expectations;
3. Healy Consultants assists our Client to decide on i) the proposed company name and ii) the optimum corporate structure of the El Salvador company to be incorporated, including directors, shareholders, location of the company’s headquarters and El Salvador business bank account;
4. Healy Consultants will collect all necessary due diligence from our Client and details of the proposed company’s activities and then proceed to open a corporate bank account for the company with one of the recommended banks in El Salvador and then deposit the required initial capital into the corporate bank account and obtain a deposit slip;
5. Healy Consultants will then reserve the company name with the Registry of Commerce and obtain a name reservation certificate;
6. Next Healy Consultants will notarize the company’s Articles of Association at the notary public and then proceed to register our Client’s company with the Registry of Commerce;
7. After that Healy Consultants will publicize and legalize the company’s books the company’s auditor will then authorize the accounting procedures. We will then register the employees with the Pension Fund Administrators (Administradora de Fondos de Pensiones);
8. Our Client will then supply Healy Consultants with a lease agreement of their Salvadorian office premises. If our Client does not have a business premise, Healy Consultants will provide virtual office services in El Salvador until our Client finds a business address;
9. Healy Consultants will then register the Salvadorian company for tax at the Mayor’s Office and once this is done, proceed to make the company seal;
10. Following the company incorporation engagement completion, Healy Consultants will courier a full company kit to our Client, including original documents, unopened bank correspondence and a Client feedback survey to assess the quality of our company formation services in El Salvador.