Finding a good corporate attorney in El Salvador will be critical if you are planning on doing business in this Central American country.
As well as being your guide through the local regulatory framework, your lawyer in El Salvador will represent your company during important processes – meaning they will have significant influence over your standing in the eyes of local authorities, as well the smooth running of your operations.
Finding a skilled and experienced attorney in El Salvador will also mean encountering minimal inconveniences in key aspects of market entry, such as when you register a trademark in El Salvador.
While you can find support from a corporate legal firm in El Salvador, anyone in need of a broader range of support – such as accounting and taxation or assistance with recruitment and hiring – may find that the best option is to seek out a back-office services provider, who will be able to cover all of those needs with one services agreement.
Below, some insight is provided into the Salvadoran market as an investment destination, as well as information on the sort of things a corporate lawyer in El Salvador will be able to assist with. Some tips are also provided on how to identify a good attorney.
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Why invest in El Salvador?
El Salvador began to hit international headlines in the second-half of 2021 due to the country’s decision to make the cryptocurrency Bitcoin legal tender, however that has drawn attention away from some encouraging signs for more traditional investment.
Although El Salvador is not the most fashionable investment destination in Latin America and the Caribbean, it has a huge amount of potential, thanks to favorable conditions in the country.
Those include a strategic geographic location – with capital city San Salvador served by direct flights to multiple cities in North America, and less than three hours from the likes of Houston and Miami. Strong cultural connection between the country and the United States also mean that you have a better chance of finding an English-speaking attorney in El Salvador than in many other markets.
On top of that, the country has highly competitive labor costs, a regulatory regime that is well-balanced in terms of workers rights (for example, employees must provide a reasonable notice period when they resign, unlike in other markets), and has seen violent crime decline significantly in recent years.
That has seen it generate increasing interest from investors, with foreign direct investment (FDI) as a percentage of gross domestic product (GDP) fluctuating significantly, but following a generally upward trend in recent years.
El Salvador has a well-established manufacturing base, with only Honduras and Nicaragua generating more GDP from their industrial sector among Central American nations.
As such, manufactured goods such as clothing, plastics, pharmaceuticals, and electrical machinery are among the country’s key exports, and considerable facilities are available for investors seeking to enter the industrial sector.
El Salvador is also home to a significant services sector, so you should have little trouble finding an accountant or lawyer in El Salvador to assit you. The country is also home to a growing number of startups and companies dedicated to tech and innovation, so tech professionals and other skilled workers are available.
However, if you are going to take advantageof the opportunities on offer, you will need to find a reliable attorney in El Salvador.
What will your attorney in El Salvador do for you?
Your attorney in El Salvador will be able to assist with the following things:
Key decisions: With a strong understanding of the market, your corporate lawyer in El Salvador will be able to provide sage advice on things like how to structure your entity, where to locate it, and which partners or providers to use for the likes of banking.
Visa processing: Your attorney in El Salvador will ideally have experience dealing with foreign investors and as such will understand the immigration system and be able to help you or anyone representing the company apply for and receive permission to remain in the country to oversee your business.
Assured compliance: Your lawyer in El Salvador will guarantee your compliance with all local regulations, and be aware of the administrative pitfalls foreigners are liable to encounter, thereby helping you to avoid them.
Local network: Your attorney in El Salvador will be an established practitioner in the business and legal communities, and as such will have local contacts that could be highly beneficial to you, either during market entry or once operations are up and running.
What to look for in a corporate lawyer in El Salvador
When identifying potential candidates to be your corporate lawyer in El Salvador, you will want to consider the following:
- Specialization: In the event that you are entering a sector that has its own set of laws and norms – such as extractive industries or international trade – you will want to make sure that you find a provider with knowledge and experience of the relevant legislation.
- Experience: Your attorney in El Salvador will ideally have experience working with foreign investors, and preferably with those who are engaged in similar activities to those you will undertake.
- Reputation: A well-established lawyer in El Salvador will have a good reputation based on previous work, and it should be relatively straightforward to find positive reviews and comments online from past clients to demonstrate this.
- Communication: Unless you speak Spanish to a sufficient level, you will need an attorney with a good grasp of English in order to makes sure that communication is effective.
Biz Latin Hub can provides legal services throughout Central America
At Biz Latin Hub, we help corporations and investors bridge the cultural and linguistic gaps they encounter when launching and doing business in Latin America and the Caribbean.
Our portfolio includes accounting & taxation, company formation, legal services, hiring & PEO, and visa processing, among others, and we provide pàckages of integrated back-office services tailored to suit individual needs.
We have local offices in 15 countries around the region, as well as in Puerto Rico, meaning that we are ideally positioned to support multi-jurisdiction market entries and cross-border operations. So if you need a good corporate attorney in El Salvador, we can help you.
Contact us today to find out more about how we help you reach your commercial goals.
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