How to Get Ecuador Residency and Citizenship by Investment

Ecuador – Country Profile

Ecuador is a small, equatorial country located in the northwest of South America. The name Ecuador comes from the fact that the country is located on the equator. It borders Colombia to the north, Peru to the south and its western coast lies on the Pacific Ocean.

Ecuador – Economy

As with the majority of countries in Latin America, Ecuador’s official national language is Spanish though you might be surprised to learn that the country uses the US Dollar as its official currency.

The reason for this is due to an economic crisis some years back which prompted Ecuadorian citizens to abandon their runaway currency and buy up dollars. Rather than reverting to the old currency, the government decided to simply adopt the US Dollar as currency instead. This had the benefit of stabilizing the economy while also making it more attractive to foreign investors.

The benefit for you means having all transactions conducted in a familiar currency, though with a considerably reduced cost of living compared to the US. No surprise, then, that the country has become increasingly popular with expats. Add to this the country’s friendly locals and warm, tropical climate, and you can see why we ranked it as one of the world’s best countries to retire in, with the coastal city of Salinas proving particularly popular.

Living and investing in Ecuador

It’s also worth mentioning that an investor’s visa in Ecuador costs significantly less than in many other countries. Though this is because Ecuador is neither a tax haven nor a popular destination for high-net-worth individuals generally.

Ecuador is not the Cayman Islands, it’s not Dubai and it’s certainly not Malta. You won’t enjoy any obvious tax benefits or opulent skylines and becoming a citizen won’t result in a top-tier passport either. Instead, Ecuador should be viewed as a cheap second residence option with minimal physical presence requirements and one which is proving to be increasingly popular with expats from Europe and North America.

Economic Benefits

One obvious positive; the actual investment costs required to become a resident in Ecuador are quite low (we’re talking five-figure amounts here.) You also are free to leave the country for up to 90 days which gives you a huge degree of flexibility.

Finally, while there is no direct citizenship by investment option, there is a residence by investment option which can lead to citizenship after four years. This, in turn, can provide a passport that gives you visa-free travel through much of Latin America and the Caribbean plus other key countries in Asia.

Ecuador is one of the safest places in Latin America to live. It’s a country that promises tropical adventure, fresh mountain air and warm Pacific coastlines. This makes it a popular destination with all age groups, young and old alike.The low cost of living in Ecuador makes it perfect for anyone looking to retire comfortably.

Quality of Life

If your primary goal is to invest in South America, you will find few barriers to entry in Ecuador and relatively low risk. Plus, with a lower cost of living and prices in US Dollars, you also have a good probability of finding some choice investment bargains.

Ecuador offers a range of residency options for all of the above groups, from young digital nomads to retirees, plus three distinct residency by investment options, all of which can lead to eventual citizenship if desired.

Getting a Residency Visa in Ecuador

The first step to gaining residency and citizenship in Ecuador is to get a residency visa. There are two types of residency visas, a temporary residency visa and a permanent one. Temporary residency visas are valid for two years and allow you to leave Ecuador for 90 days per year.

After a period of three years, you can then apply for permanent residency. (By this point you would be on your second temporary residency visa and before the period where you would have to renew it for the third time.) The physical requirements of a permanent resident are the same as a temporary resident, which means you are free to leave the country for a maximum of 90 days.

As with the vast majority of countries, if you spend 183 days or more in Ecuador you are also considered to be a tax resident there. To get a residency visa in Ecuador you will need to provide the right documentation and also provide clear criminal background checks for you and each other applicant. (For more information about this process click below.)