Benefits of Retiring in Ecuador
When you retire in Ecuador, you can receive up to 50% off public transportation, utilities, recreational activities, and events, reduced or eliminated income, capital gains, estate, property, vehicle, and sales taxes. You are also eligible for duty-free importation of household goods and expediated services (skipping the lines in places like banks). These are just some of the benefits you can receive as a resident under Ecuador’s pensionado program. To apply, you must have a US$800 monthly income from a pension-source, Social Security, or annuity, plus an extra US$100 per dependent and be at least 18 years old.
Without a pension-source income, this visa is still available, though with an added requirement: You must bring with you the equivalent of five years of the required monthly pension income (US$48,000).
A pensionado visa in Ecuador allows you to work even though you’re meant to be retired.
Ecuador’s great package of senior benefits:
- 50% off all public transportation
- 50% off national and international airfares
- 50% off all cultural, sports, artistic and recreational events
- 50% off electricity, water, and telephone service
- Special discount on property tax
- Relief from Ecuadorian income tax
- Discount on vehicle tax
- Discount on judicial fees
- Refund of Value Added Tax (sales tax)
And best of all, you never have to stand in line; seniors always go to the front.