Important news from Ecuador…This country’s residency program just got better. Under new regulations that took effect March 10, 2022, Ecuador‘s residency program qualifies as one of the best in the world…And one of the easiest paths to citizenship. Here are the highlights…Ecuador offers a temporary resident visa to start, from which you can move on to a permanent resident visa. The country now offers a remote worker’s temporary visa, called Rentista Para Trabajo Remoto, for digital nomads. Ecuador still has time-in-country requirements for new residents, but they now allow you to violate those limits provided you pay a fine.In some cases, you can skip temporary residency altogether and go directly to permanent residency.You can now be absent from Ecuador for up to two years as a permanent resident, without losing your permanent residency.Free importation of household effects is still allowed for new residents.If you are a multi-country citizen, you can apply for residency using any of your passports.Health insurance is now required for residents… unless you opt in to the Ecuadorian Social Security system. Amazingly, the right to vote and to hold public office has been granted to non-citizen residents of Ecuador.Citizens of most countries—including America, Canada, the U.K., Australia, and New Zealand—can enter Ecuador as a tourist without a visa. To explore Ecuador initially, this tourist entry does the trick. Ecuadorian Immigration typically will stamp your passport with a tourist visa that allows you up to 90 days in the country, but you should check the stamp to make sure before you leave the agent.You can extend your 90-day stay one time, for as many as an additional 90 days.In addition to the general requirements, including a background check, here are the specific requirements for each visa type:
For A Rentista Visa
- Proof of legal income—sufficient to support you and your family. This income can be active or passive, from outside of Ecuador or from within Ecuador. The minimum required income is three times the Ecuadorian minimum wage. For 2022, this works out to US$1,275 per month.
- An additional US$250 per month is required for each dependent.
For A Rentista Para Trabajo Remoto (Remote Worker’s) Visa
- Proof of legal income, sufficient to support you and your family. This income must be from outside Ecuador. The minimum required income is three times the minimum wage, over the previous three months. For 2022, this works out to US$1,275 per month. Alternatively, you can show an income of 36 times the minimum wage over the past year, by showing bank statements. That’s US$15,300 for 2022.
- An additional US$250 per month is required for each dependent.
- You must show evidence that your employer or your clients are outside Ecuador.
For A Jubilado (Retiree) Visa
- Proof of retirement income, sufficient to support you and your family. The minimum required income is three times the minimum wage. For 2022, that works out to US$1,275 per month.
- A document from the entity that is paying your pension or Social Security, showing what you’ll receive each month.
- An additional US$250 per month is required for each dependent.
For An Inversionista (Investor) Visa
- As of this year, the required investment for each type of investor visa is the same: 100 times the monthly minimum wage. For 2022, this is US$42,500.
That’s a global bargain.
Here are the most common types of investments used by expats to qualify for an investor visa:
- A certificate of deposit (CD): You must show that it’s contracted through an Ecuadorian bank for a period of at least 730 days…
- Ecuadorian real estate: You’ll need to present the property title, showing an assessed value of at least 100 times the minimum wage. If the property is jointly owned, then the applicant’s half must be worth the required minimum…
- Shares of an Ecuadorian company valued at the required minimum.
You can swap your investment if you decide you’d like to.For example, you could substitute one property for another to support your visa or substitute a CD for a property. This requires prior authorization from Immigration.You can liquidate your investment when you obtain permanent residency.If you have the income to qualify for a Rentista or Jubilado visa, I’d recommend against the Investor Visa. The income for an income-based visa needs to be proven only once… while the Investor Visa remains dependent on your investment for the visa’s life, including all renewals.If you have a temporary resident visa, you can be absent from Ecuador no more than a cumulative total of 90 days per year. They will forgive one violation of this rule, provided you pay a fine of three times Ecuador‘s minimum wage. For 2022, the fine would be US$1,275.However, if you’re going to convert to permanent residency, you cannot be absent from Ecuador for more than 90 days during your entire temporary visa period (21 to 24 months).
To Be Eligible For Permanent Residency, You Must Be:
- The holder of a temporary resident visa, for at least 21 months;
- Married to (or have a civil union with) an Ecuadorian citizen or permanent resident;
- A minor or disabled person who is dependent on an Ecuadorian citizen or permanent resident;
- Related to an Ecuadorian citizen or permanent resident, by at least the second degree of consanguinity or affinity.
Ecuador has one of the world’s quickest citizenship programs. You can be naturalized after just three years of residency… or after just two years if you marry an Ecuadorian citizen.Lief SimonEditor, Offshore Living Letter
