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El Salvador

El Salvador Flag

Country: El Salvador
Region: Americas
Currency: US dollar (USD) (US$)
Languages: Castilian
Time Zone: UTC -6

Phone Code: +503

Communications: Good

Formation Cost: 500 - 900 USD$
Formation Time: 5 - 17 days
Maintenance cost: 100 - 300 USD$

Executive Summary: El Salvador is located in Central America and borders the Pacific Ocean between Guatemala and Honduras. The population in 2014 is an estimated 6.1m and the official language is Spanish. Although it is the smallest country in Central America, El Salvador has the region’s third largest economy. El Salvador was the first country to ratify the Dominican Republic-Central American Free Trade Agreement, which has bolstered the export of processed foods, sugar, and ethanol, and supported investment in the apparel sector amid increased Asian competition. In September 2013, El Salvador was awarded a USD277m compact with the Millennium Challenge Corporation, a United States Government agency aimed at stimulating economic growth and reducing poverty. Tax incentives and exemptions are provided under the International Services Law and within the country’s free trade zones.

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Vehicle Types: Limited companies, corporations, sole proprietorships, branches, general partnerships and limited partnerships

Capital primary business districts: San Salvador

Good Relationships: Canada, China, India, United States

Bad Relationships: Burma, Cuba, Iran, Korea (Democratic People's Republic of), Libya, Somalia, Sudan, Syria

Tax Burden - Business: Moderate

Tax Burden - Individual: Light

Headline tax rates: CIT 25%-30%, PIT 10%-30%, VAT 13%

Treaty Jurisdictions: Spain

TIEA Jurisdictions: None

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