Ecuador: With many residency options available, which will be perfect for you?
To continue the theme of relocation we will be focusing on this week, it feels fitting to investigate something completely different to the other articles posted on our blog over the last few weeks. Ecuador is one of Latin America’s most intriguing nations, with gaps for opportunity presenting themselves in diverse markets, characterised by innovation in technology and legal cannabis to take a couple of examples. It is this sort of development that has projected the nation into global spotlights and consequently, make relocation to Ecuador increasingly popular.
However, as we have mentioned during this past weeks, in citizenship by investment schemes, there are usually a couple of options for investment resulting in either temporary or permanent residency first, followed by citizenship, or immediate citizenship. Yet, for some people, this is not the priority, it could instead be work or an event. It is for this reason that Ecuador is such a good example, with a multitude of different available residency visas, the likes of which today find themselves our priority to explain.
Before introducing you to all the information related to Ecuador, if you are considering options for citizenship by investment, contact us!. Our specialized team can help you with all your concerns. Click here.
What are my options?
Usually, we would take this opportunity to investigate the requirements, however, this does not apply in the same way with today’s topic. This is to say, with 14 different visas for temporary residency, there is a different set of requirements for each, therefore, we will outline the different residencies available to you and then look into each one a little further.
Here you can find what is essentially a mini dictionary for the different visas:
- Work visa: Allows holder to work for an Ecuadorian company in Ecuador
- Rentista/Retirement visa: Retire to Ecuador with minimum monthly income of US$800
- Investor visa: Invest US$40,000 in Ecuador
- Scientist/Academic visa: Visa for researchers
- Athlete/Cultural/Artist visa: Renewable 180-day visa for people under this category
- Religious visa: Visa for religious activity or volunteering
- Episcopal Conference visa: Specific visa for the religious conference
- Volunteer visa: NGO volunteers can apply for this
- Student visa: Undergraduate and Graduate level study
- Professional visa: Digital nomads can work remotely carrying out professional activities
- Convention visa: Those working for international organisations that operate in Ecuador apply for this
- Mercosur visa: Visa for Mercosur nationals wanting to live, work or carry out business in Ecuador
- Unasur visa: South American citizens wanting to work or do business apply for this
- Commercial activity visa: For foreigners wanting to undertake commercial activities over an unspecified period of time
And the requirements?
This is a lot to understand, however, luckily, you will not need to learn every type, just the one that covers you. Furthermore, the requirements, although slightly different in some respects, do have an underlying criterion that remain the same for each visa. Below you will find these:
- Passport valid for 6 months
- Application form completed
- Passport-sized photos
- Proof of funds
- Clean criminal record
- Health insurance
In terms of specific additional requirements, the work visa requires a contract of employment and proof the company has no obligations with the SRI or IESS, the student visa requires enrolment letters as proof of intentions to study and the pensioner visa requires proof of retirement and income (to show you comply with the minimum requirements).
In terms of applying, this is the same for each one, you make an appointment at the Ecuadorian embassy in your home nation, submit the application form and documents, pay any processing fees and then wait for the result of the application following which you will receive your visa electronically if successful. This short process reinforces the fact that the most strenuous part of the process is finding which visa is right for you, as the rest is quick and stress-free.
So, if you are interested in finding out more about Ecuador, contact us today! Below this article you will find a link to set up a free fifteen-minute consultation with us to discuss your options further.
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