Auxadi El Salvador
With a young and economically active population, easy logistics access through the Panama Canal and modern infrastructure, the Republic of El Salvador deserves consideration as a business destination.
While El Salvador’s economy has traditionally been agricultural, services and industry now employ a greater percentage of the workforce and account for a higher percentage of GDP. Indeed, El Salvador has the third largest economy in Central America – a major achievement for the smallest country in the continental Americas.
El Salvador commissioned its first geothermal power plant in 1975, which gives it unprecedented expertise and makes it a regional renewable energy front runner. El Salvador now hosts the Geothermal Centre of Excellence, a leading training facility for the geothermal industry.
Food and beverage processing is an important industry, though El Salvador’s manufacturing sectors also include petroleum, chemicals, fertiliser, textiles, furniture, and light metals. The country’s main exports include coffee, sugar, shrimp, textiles, and chemicals. The leading imports are raw materials, consumer and capital goods, fuel, food, petroleum, and electricity.
El Salvador
With a young and economically active population, easy logistics access through the Panama Canal, modern infrastructure, and legal tenders of US dollars and bitcoin, the Republic of El Salvador deserves consideration as a business destination.
While El Salvador’s economy has traditionally been agricultural, services and industry now employ a greater percentage of the workforce and account for a higher percentage of GDP. Indeed, El Salvador has the third largest economy in Central America – a major achievement for the smallest country in the continental Americas.
El Salvador commissioned its first geothermal power plant in 1975, which gives it unprecedented expertise and makes it a regional renewable energy front runner. El Salvador now hosts the Geothermal Centre of Excellence, a leading training facility for the geothermal industry.
Food and beverage processing is an important industry, though El Salvador’s manufacturing sectors also include petroleum, chemicals, fertiliser, textiles, furniture, and light metals. The country’s main exports include coffee, sugar, shrimp, textiles, and chemicals. The leading imports are raw materials, consumer and capital goods, fuel, food, petroleum, and electricity.
Why Auxadi is trusted as an expert outsourcing provider in El Salvador
Auxadi is your ideal partner in El Salvador to support you with your global expansion and investments. We offer the full suite of accounting, tax and payroll services, and have experts on the ground in all key Latin American markets.
Nicaragua is actively seeking to attract textile companies, offshore business services, tourism, aeronautics, logistics / infrastructure networks, and healthcare, and has 17 free trade zones for companies geared toward manufacturing and exports.
The process of incorporation takes around 20 days, involves Notary Publics, CPAs, and requires multiple governmental registrations.
Through a single-point-of-contact delivery model and our leading MySPV technology platform, we offer an unrivalled solution that can help you grow your business.
International Accounting, Tax and Payroll in 50 countries
Corporations
We can help you with your international expansion and we serve more than 600 clients across many different sections. We become an extension of your finance departments abroad and you can access the accounting information of all your international subsidiaries through a single portal, customised to meet your needs.
Funds
With nearly $7 billion of assets under management, we can take of the corporate management and SPV administration of your investment structures. Whether you’re creating a holding structure in Luxembourg or setting up a SPV in Europe and Latin America, we offer accounting, reporting, tax compliance and directorship solutions to help make your life easier.
Our services
Tax Specialists
Changing tax regimes are often more challenging than any other component of international business.
Corporation tax in El Salvador is set at 30% from income sourced within El Salvador, and admin around the tax regime will require around 180 hours per year.
VAT is set at 13% and there are various withholding taxes applying to dividends, interest, and royalties.
Let our expert tax team in El Salvador take care of intricate local taxation rules, using our purpose built automation technology, so you and your operations remain tax compliant.
- Tax compliance – covering multinational, federal, state, and municipal taxes
- Official Books and Annual Accounts
- Assistance with tax inspections and audits
- Tax reviews and claims
Accounting Specialists
Company books and accounting system must be legalised, as must tax books, and fiscal stationery must be printed (tax credit vouchers, invoices, and so on.) Costs can vary according to the municipality.
All Salvadoran companies must appoint a local director and an auditor.
We recognise that spending too much time juggling your accounting requirements and the more administrative manual tasks shifts your focus away from adding value. That is why we’re on hand to help global corporations and fund managers with all your corporate accounting requirements.
Our accounting experts in El Salvador can help manage:
- Accounting and bookkeeping
- Management accounting
- Statutory accounting
- Official Books and Annual Accounts
- Cash management (including payments)
- Reporting
- Consolidation of financial statements
- Bank account tracking
- Treasury and cash flow forecasts
- Audit assistance
Payroll Specialists
Written employee contracts are required for all employees in El Salvador, though witnesses can be relied on in the absence of these contracts. Any company with more than ten employees is required to document labour practices and register the documents with the Labour Ministry.
El Salvador also permits the use of Employer of Record services for companies seeking a local workforce on a limited scale or short-term basis, or wishing to get to know the market better ahead of making a deeper investment.
Our experienced and knowledgeable team of payroll specialists in El Salvador will use our unique payroll technology platform to manage your payroll function.
Monitor and manage your international subsidiaries with our MultiCountry online platform
Access our online platform that provides you with a global and harmonized view of the accounting of your international subsidiaries, with drill down functionality to check support documentation, such as: invoices, outstanding creditors, approve payment orders, manage the payroll processing cycle and so much more. Request a demo to see how our technology can help you.
Get access to Auxadi corporate materials and technical guides to know more about us.
Meet the team
Rima Yousfan
Senior VP, Head of International Corporations
Auxadi in El Salvador
Calle Paseo General Escalón, Colonia Escalón,
Edificio Millenium Plaza, Nivel 21, Oficina 32,
San Salvador
Tel: + 503 2113 0374
Count on our professional and extensive experience in the Salvadoran market, for your investments in El Salvador and elsewhere in Europe, the United States and Latin America.
