El Salvador is a country on the Pacific coast of Central America. It has an attractive financial performance. Licensing of gambling in El Salvador is carried out regularly.
The development strategy is based on a policy of openness to international trade and investment. Therefore the state has an open attitude to foreign direct investment.
Timeline: within seven weeks.
Minimum start-up capital: US $ 2,000. Companies with such capital are subject to a registration tax of US $ 11.40.
The most common legal entity in El Salvador is a Limited Liability Company (LLC).
It is important to note that the corporate income tax rate in El Salvador is 30% and is levied on the total income of the company.
However, corporate income tax is based on a territorial principle and applies to goods located in El Salvador, activities and capital investments, as well as any services provided in the country.
Although there are no restrictions on the citizenship or place of residence of a shareholder, it is important to take into account that a special withholding tax rate of 25% applies when paying dividends, interest and royalties to a resident.
Accounting and auditing requirements
A local office is a must.
A registered representative is required. The company must appoint a local administrator who will represent its interests in the tax office of El Salvador, it can be a resident or a foreigner residing in El Salvador.
A secretary is required.
To obtain permission to gamble online in El Salvador, you must do the following:
To obtain a permit for a gambling business in El Salvador, you must provide the following documents:
If the shareholder is a legal entity (company), it is necessary to present:
As an additional precaution, government agencies may require the presentation of original documents confirming the source of income.
Additional documents can be requested by the secretariat or local bank at any time to verify and validate specific information.
All documentation is provided in English. If the documents are not in English, then they must be accompanied by a notarized translation. For more information, please contact the specialists of Eternity Law International.
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