BEGINNING-Inicio

Good morning to all present

----------------You can hear me? Pueden escucharrme?

I will continue explaining the steps for the incorporation of a company in El

Salvador

FIRST PART ENTRY

In El Salvador, to establish your own society, there are many varieties of legal
structures to choose from; specifically, Corporations and Limited Liability
Companies. Corporations are the most common legal structure in El Salvador. For a
company to be duly incorporated in El Salvador, there are three basic requirements,
which must be registered with the National Registration Center:

1. The company must be incorporated before a notary public.

2. The company must obtain its business registration.
3. Present the financial statements.

AFTER READING THE PARAGRAPH

It should be noted that all documents must be duly registered. If the shareholders
are foreign companies, the documents must be apostilled.

Once all the requirements are met, the company will have the ability to obtain its
Tax Identification Number (NIT). Once the NIT is obtained, the incorporation of the
company is complete, and it can begin to do trading activities.

Regarding the capital of the partnership, the minimum amount required is $2,000.00
USD. At least 5% of the capital must be paid at the time of incorporation of the
company, with the remainder to be paid within the course of one year. In the event
that the shareholders cannot appear before the notary public for the incorporation
of the company, they can grant a special power of attorney to a person to
incorporate the company on their behalf.

Society will need a social purpose; It is common for a legal entity to have between
(1) to (3) primary objectives. There is no limit to the goals of society as long as
they are directly related to the main activities of society.

A private document containing the statutes of the incorporated company will be

drawn up, in which they will develop the rights and obligations that exist between
it and its partners; and subsequently they will be deposited in the Commercial
Registry for an average period of 2 business days.

It is important to note that depending on the economic activity of the company, in

some cases it is necessary to grant special permits that are granted by
institutions. determinadas atendiendo al giro de la empresa; por ejemplo: en el
caso de la instalación de un restaurante es necesario obtener una autorización
concedida por el Consejo Superior de Salud Pública Art. 14. Literal CH Código de
Salud.