Foreign Property Ownership In Ecuador
Could Correa Confiscate Private Property From Foreign Investors In Ecuador? Recently a reader wrote in to...
Read moreLief Simon is the managing editor of Global Property Advisor, Simon Letter, and Offshore Living Letter. He has purchased more than 45 properties, investing in 23 different countries around the world.
An Ecuador visa will be issued on arrival for citizens of the United States, Canada, and much of Europe. This tourist visa is typically valid for 90 days. Check the stamp to make sure you know how many days they gave you.
You can extend your 90-day stay one time, for an additional 90 days. But, if you want to stay longer than 180 days as a tourist, you can get a special tourist visa at the consulate. Get this in advance of your trip, because it’s valid for up to one year.
Also, you can apply for such a visa once every five years.
The Ecuadorian residency process follows two steps. Firstly, you need to hold a temporary resident visa. Once you have this you can apply for a permanent residency visa.
The application for residency needs to be in Ecuador.
You must head to your local immigration office. If you are not fluent in Spanish, bring someone who is. You can no longer apply for residency in your home country.
Documents such as police check certificate, need to be authenticated. Depending on the country of origin, you’ll use either the apostille process or consular legalization.
Any document that is not in Spanish must be translated into Spanish. The translator must certify the translation as correct, and their signature must be verified by a notary.
One big advantage of residency in Ecuador is that you can import your household effects, duty-free. Your attorney will guide you through this process. Don’t attempt to go it alone.
Timing is critical and you must pay strict adherence to the rules. For example, you need to submit a request to the Ministry of Foreign Affairs, and you can only bring up to 200 kgs of your effects duty-free (anything over is taxed).
Permission to import household effects is granted by the customs law, rather than the immigration law.
Start Your New Life Today, Overseas
Those who lived in Ecuador uninterrupted for up to 21 months can apply for a permanent residency visa. The Temporary Resident Visa allows you to stay in Ecuador for up to two years. You may renew this only once.
You used to be unable to be absent from Ecuador no more than a cumulative total of 90 days per year while on this visa, but the rules changed in 2021. On a Temporary Resident Visa, you may now travel out at will.
Ecuador charges a non-refundable, US$50 application fee for each applicant. In addition, a visa fee of US$400 is due on receiving the visa.
There are 13 types of Temporary Resident Visas; the most commonly used by expats are these:
The general requirements for temporary resident visas (regardless of which kind you’re asking for) include:
In addition to the three general requirements above, here are the requirements that are specific to each type of visa…
Start Your New Life Today, Overseas
This visa supports those who invest a significant financial amount into Ecuador– a number which
is subject to change based on inflation and government policies, so be sure to check for the most
updated amount.
Ecuador’s minimum wage is US$460 per month for 2024.
For this visa, a dependent must prove their relationship to the primary visa-holder. The primary visa-holder’s required income must be sufficient to cover any dependents.
To be eligible for permanent residency, most people will need to have been temporary residents… but not everyone. To qualify, you need to meet only one of the following four requirements:
You must make residency visa applications at an immigration office within Ecuador. You can no longer visit a local consulate. There are offices all over the country.
You may not be absent from Ecuador for more than 180 days per year, for each of the first two years. They will forgive one violation of this rule, provided you pay a fine set at four times the Ecuadorian minimum wage. For 2024—at a minimum wage of US$460 per month—the fine would be US$1,840.
After the first two years, you may be absent for up to five years without losing your residency.
Again, all documents which are issued outside of Ecuador must be authenticated by the country of origin.
Depending on the country of origin, you’ll use either the apostille process or consular legalization. Any document that is not in Spanish must be translated into Spanish. The translator must certify the translation as correct, and their signature must be verified by a notary.
Permanent residents must have private health insurance. If not, they must opt in to Ecuador’s social security system (ISSS) within 30 days after granting of their visa.
You will not receive your cédula (national ID card) until you’ve presented evidence of health insurance.
As with the temporary visas, you’ll pay a non-refundable, US$50 application fee for each applicant. In addition, a visa fee is US$400 for holders of temporary visas.
Those who qualified based on marriage, civil union, or parentage will pay US$200. Special deals also exist for citizens of Venezuela and Mercosur countries.
Anyone who has resided in Ecuador for more than five years will have the right to vote, and they may also hold public office.
Although permanent residents may vote and run for office, only citizens can import a vehicle duty-free. This counts towards their household effects.
The law allows for importation of cars up to five years old, which are valued at less than 60 times the minimum wage. At US$460 for 2024, the maximum value of the vehicle would be US$27,600.
Above all, Ecuador’s customs laws grant a special exemption for vehicles of the handicapped, of any nationality.
Ecuador has one of the quickest citizenship programs we know of. You can become a citizen after only two or three years of continued residency.
Citizenship is granted in Ecuador by means of a naturalization letter (Carta de Naturalización). For expats, the naturalization letter is generally granted for two categories:
In order to qualify, you’ll need to be able to recognize Ecuador’s patriotic symbols (flag, seal, etc.) and pass an interview. During the interview you will need to state motives for becoming a citizen.
You will also need to provide proof of income. If you cannot complete the interview speaking Spanish you are almost certain to fail.
You must not have been absent from Ecuador for more than 180 days per year for each of your first three years of permanent residency. (This restriction does not apply if you are qualifying by having an Ecuadorian family member or by marrying an Ecuadorian citizen.) You must also have a clean criminal record.
Ecuador recognizes both jus soli and jus sanguinis without limitation. Children born in Ecuador can claim citizenship without exception, as can those born abroad to at least one Ecuadorian parent.
In fact, you can be eligible for citizenship up to the third degree of consanguinity. This means if you’ve got an Ecuadorian grandparent, you are eligible to claim citizenship.
A large benefit to anyone considering a move to Ecuador has to be the cost of living. Nearly all locations you are looking at within the country will be apples-to-apples cheaper than you are used to in North America. Ecuador’s year ‘round growing season means that fresh tropical fruits and vegetables are always available in the markets at low prices.
Could Correa Confiscate Private Property From Foreign Investors In Ecuador? Recently a reader wrote in to...
Read moreRecently, a reader wrote to me to ask whether she should buy property in Greece to qualify for residency under...
Read moreFor tourists and foreign residents, Cuenca's Christmas Eve Paseo del Niño parade, or Passing of the Child, is a colorful,...
Read moreGetting onto the property ladder has always been one of the safest and best ways of securing long-term wealth. Buying cheap real estate overseas gives you another level of security and diversification. By purchasing property abroad, you have added safety should the U.S. market fail. Especially in 2024, when the strength of the U.S. dollar makes overseas property great value for money. Unlike stocks and shares, real estate is a tangible asset you can enjoy. Buy real estate in a...
Read more© 2008 - Live and Invest Overseas - All Rights Reserved.
Sign up for FREE and learn how to live the good life on a modest budget, find bargain property, and more. Plus, check out our free report on the 10 BEST PLACES TO RETIRE.
RETIRE OVERSEAS AND LIVE LIKE ROYALTY
Sign up to receive the FREE daily e-letter, Overseas Opportunity Letter and we’ll immediately email you our editors’ latest research report…
BEST PLACES TO RETIRE
FREE REPORT: