EcudorWaterFallRenewed Interest in the Land of Perennial Spring and Long Living

Ecuador is home to great weather and jaw-dropping low prices. The country offers perennial springtime in the mountains...a land of longevity in Vilcabamba...and Spanish-colonial charm in Cuenca...all of which can be enjoyed on even an extremely modest budget.

Ecuador is not known for its beaches, and its coast remains relatively undeveloped. Current talk of a new beach road, though, is bringing investor attention to one particular stretch of coast, giving our editors reason to return Ecuador to our active radar screen.

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Population 15.223 million (July 2011 est.)
Gross Domestic Product (GDP) $124.0 billion (2011 est.)
GDP Per Capita $8,300 (2011)
Inflation Rate 4.7% (2011 est.)
Currency U.S. Dollar
Exchange Rate Versus U.S. Dollar N/A
Language Spanish (official)
Capital Quito
Population of Capital City 1.8 million (2001)
Time Zone GMT minus 5
Seasons Coastal area is tropical--wet, warm/hot year-round Andean Highlands is temperate--four seasons
International Dialing Code 593
Electricity 120-127 V/60 Hz; Plug Types: A & B (U.S. style)
Presidential Republic
Name and Party Affiliation
of Current Leader
Rafael Correa, Alianza PAIS
Income Tax Rate for Residents 5% to 25%
Property Tax 0.025% to 0.5%
Capital Gains Tax 25% of the increase in assessed value
Inheritance Tax 0% to 35%
Rental Income Tax Taxed as regular income, up to 25%
Transfer Tax 1%
Sales Tax 12%
Restrictions on Foreign
Ownership of Property
Permisson needed (usually granted) to acquire land within 30 miles of the coast
Local Chamber of Commerce www.ccq.org.ec
Av. Republica y Amozonas
Edif. De las Camaras, Pisos 5 y 6
Quito, Ecuador
This e-mail address is being protected from spambots. You need JavaScript enabled to view it
American Chamber of Commerce www.ecamcham.com
Av. 6 de Diciembre y La Nina
Edf. Multicentro, Piso 4
Quito, Ecuador
Tel: (593-2)507-450
Primary Exports Petroleum, bananas, cut flowers, shrimp, cacao,coffee, hemp, wood, fish
Residency and Visa Requirements

Tourist Visa: automatic 90 days upon entry
Residency: Retirement, Real Estate/Securities Investor, Industry Export Investor, Executive. An individual is deemed to be resident if he/she is in Ecuador for more than 6 months in a year. Citizenship: Three uninterrupted years of legal residency

Special Benefits for Foreign Residents or Retirees None
National Airline TAME
www.tame.com.ec

 

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