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Ecuador Facts and Figures

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Facts About Ecuador

The official languages of Ecuador are Spanish and Quichua; the language of the Incas, still spoken by over 10 million Native Americans in the region. Ecuador achieved independence from Spain on May 24, 1822; but most big cities celebrate their own day of liberation, rather than the country’s. Cuenca was liberated from Spain on November 3, 1820. It’s a national holiday, during which many Ecuadorians and tourists travel to Cuenca.

Loja was Ecuador’s first city to be electrified, in 1897, using power from an early hydroelectric dam.

Information TypeEcuador Data
Population15,868,396 (July 2015 est.)
Gross Domestic Product PPP (GDP)US$183.4 billion (2015 est.)
GDP Per CapitaUS$11,300 (2015 est.)
Inflation Rate4% (2015 est.)
CurrencyU.S. Dollar
Exchange Rate Versus U.S. DollarN/A
LanguageSpanish (Castilian) 93% (official), Quechua 4.1%, other indigenous 0.7%, foreign 2.2%
CapitalQuito
Population of Capital City1,726,000 (2015 est.)
Time ZoneGMT – 5
SeasonsCoastal area is tropical—wet, warm/hot year-round. Andean Highlands is temperate—four seasons. See climate in Ecuador.
International Dialing Code593
Electricity120-127 V/60 Hz, Plug Types: A & B (U.S. style)
System of GovermentPresidential Republic
Current LeaderPresident Rafael Correa Delgado (since 2007)
Income Tax Rate for Residents5% to 35%
Property Tax0.025% to 0.5%
Capital Gains Tax5 to 10%
Inheritance Tax0% to 35%
Rental Income TaxTaxed as regular income, up to 22%
Transfer Tax1%
Sales Tax12%
Restrictions on Foreign Ownership of PropertyPermission needed (usually granted) to acquire land within 30 miles of the coast.
Local Chamber of Commercehttps://ccq.ec/

Av. Republica y AmozonasEdif. De las Camaras, Pisos 5 y 6

Quito, Ecuador

American Chamber of Commercewww.ecamcham.com
Av. 6 de Diciembre y La NinaEdf. Multicentro, Piso 4Quito, EcuadorTel: 593-2250-7450
Primary ExportsPetroleum, bananas, cut flowers, shrimp, cacao, coffee, hemp, wood, fish.
Residency and Visa RequirementsTourist Visa: When you arrive at the airport, you’ll receive a T-3 visa allowing you 90 days in the country.
Residency: Ecuador offers a number of attractive residency options, with low thresholds of qualification. If you intend to live in Ecuador and would like to come and go as you please, you should get a residency visa.Citizenship: Three uninterrupted years of legal residency.
Special Benefits for Foreign Residents or RetireesHolders of residency visas may only be out of Ecuador for a maximum of 90 days per year, for each of the first two years. After that time, you may not be out of the country for more than 18 consecutive months. The process for revoking visas is much more efficient than for obtaining them.If you can live with the in-country time restriction, obtaining residency is well worth the effort because you have almost all the rights of a citizen.
National AirlineTAME
www.tame.com.ec

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Celebrating Christmas In Cuenca, Ecuador

For tourists and foreign residents, Cuenca's Christmas Eve Paseo del Niño parade, or Passing of the Child, is a colorful, often bizarre mixture of the sacred and the profane. To locals, it is a time-honored Christian festival of thanksgiving and homage that combines Catholic and indigenous traditions. Everyone agrees that it's a lot of fun. The eight-hour-plus procession features floats and decorated cars, many festooned with flowers, fruits and vegetables, empty beer cans and liquor bottles, roasted pigs and chickens....

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