In recent years, there has been an influx of immigration to Ecuador. Many foreigners are finding the relatively low cost of living and mild climate, especially in the Sierra Cities of Cuenca, Loja and Vilcabamba, to be most inviting.
To help those who are interested in making the move to Ecuador, we are providing the following information of the residency options that are currently available:
7 Ecuador PR Visa Options
Here are the seven Ecuador pr visas currently available:
- 9-I Pensioner Visa
- 9-II Real Estate Investor Visa
- 9-II Certificate of Deposit Visa
- 9-III Industrial Investor Visa
- 9-IV Legal Representative, Work, or Religious Visa
- 9-V Professional Visa
- 9-VI Dependent Visa
Ecuador Visa Application Fees
Before we get into the specifics of each Ecuador pr visa, here are the adjusted fees for 2016:
Do Applicants Over 65 Years of Age Get a Discount?
Update February 10, 2016: Yes. The Ministry is giving a discount to applications 65 and over.
No. In the past dependents over 65 years of age, minors, and disabled were exempt from the payment of $320. Currently all dependents, regardless of their condition, pay $250 total. However, the disabled who have a membership card CONADIS (National Council on Disabilities) can qualify for exemption from paying the application fee of residence.
7 Types of Ecuador Permanent Resident Visas
Which Ecuador pr visa is right for you? Many expats will qualify for more than one type. Here’s a breakdown of the options and their requirements:
1) Visa 9-I Pensioner Visa
Visa 9-I Pensioner’s Visa: For this visa you have to justify a monthly income of at least $800 for one person and $100 more per dependent, if you are coming with your family. The income that you will receive monthly has to be proved with a certification from the entity that will pay you the income such as Social Security.
2) Visa 9-II Real Estate Investor Visa
Visa 9-II Real Estate Investor’s Visa: In this case you would have to buy property in Ecuador and register it in your name for a minimum price of $25,000 and $500 more per dependent.
3) Visa 9-II Certificate of Deposit Visa
Visa 9-II Certificate of Deposit: You can apply for the second type of 9-II by investing in a Certificate of Deposit in a private bank in Ecuador and leaving the CD in the custody of the Central Bank of Ecuador. You can also buy shares in a company. The required amount is $25,000 plus $500 per dependent. You will receive the interest, but you can’t withdraw the money until you decide to leave the country or change your status.
4) Visa 9-III Industrial Investor
Industrial Investor, Visa 9 III: For industry agricultural, livestock, or international trade investors who wish to export. The investment will be in business or individual-owned enterprises or companies other than the anonymous company. A Registration of Commerce license in the commercial register of the respective City is required. Requires a capital equivalent of at least $30,000.
5) Visa 9-IV Legal Representative, Work, or Religious Visa
Visa 9-IV –Legal Representative, Work Visa or Religious Visa: General Proxy for companies domiciled in the country- General power for the Legal Representative of a company established or domiciled and registered to operate in Ecuador. All permits in compliance with the law and rules of the Superintendence of Companies and; partners or shareholders of the company, current administrators as well as the Taxpayer Registration Number issued by the Ecuadorian Internal Revenue Service will be reviewed as well as evidence of tax filling.
The company must have a minimum capital of $ 25,000 dollars of the United States or with at least $ 100,000 dollars of the United States of America in fixed assets. A Certificate of compliance of no pending obligations with the Ecuadorian Social Security Institute will be checked.
6) Visa 9-V Professional Visa
Visa 9-V Professional Visa: To obtain a professional visa you must first register your degree. The university you graduated must be on the approved Senescyt list at www.educacionsuperior.gob.ec. If it is on the list, you must provide your degree. If it is not among the listed universities, further documentation will be required.
7) Visa 9-VI Dependent’s Visa
Visa 9-VI Dependent’s Visa: Available for the family of the main applicant and foreign citizens that marry Ecuadorian citizens.
Please let us know which residency visa best suits your circumstances; we are a working law firm that will provide you the best assistance available to acquire your immigration status for Ecuador and all legal matters you will require for your relocation.
You should be aware that in the first two years of residency you can only leave the country for 90 days in each year.