The New Investment Visa

I pulled this information from a Facebook post by Maite Duran (maite@gringovisas.com)
 
This is the perfect visa for people who would like to have the freedom to travel in and out of Ecuador and still have the benefits of being a resident.
This visa will be valid for two years, with the option to renew for another two years as temporary residency, and will not be subject to the rules of maximum periods outside of Ecuador. In other words, the Investment visa holder will be able to travel in and out of Ecuador as much as they like; however, the dependents on this visa type won’t benefit from the free travel restrictions. If both of the applicants need to travel without restrictions, then you will need to apply for separate visas. The requirements for this type of visa will be 100x the Ecuadorian minimum wage (approximately $40,000). There is an additional $500 required for each dependent.
Such an investment can be done through a bank Certificate of Deposit policy for at least 730 days or by investing in real estate or company shares.
With this visa you can apply for a permanent resident visa after 21 months. After 21 months as a temporary resident, you can apply for permanent residency. With the permanent residency visa you will be allowed to leave the country for up to 180 days year #3 and year # 4. Year #5 you are free to travel as long as you come into the country at least one time every 5 years.
The Property Investment visa requires an investment of $40,000 in a property in Ecuador. That amount is the assessment NOT the purchase price. If both of the applicants need to travel without restrictions, then you will need to apply for separate visas here the value of the property should be assessed at least an $80,000 value.
The funds from the investment visa can be withdrawn after you have the permanent residency visa. Please note that if the funds are withdrawn or the real estate property is sold, you won’t be able to apply for citizenship. If your goal is to apply for citizenship, you should keep the funds in the CD until your citizenship letter is granted. You can apply for citizenship after 5 years of being a resident of Ecuador–two years temporary and three years permanent.
At Gringo Visas, we can assist you in getting your bank account before you arrive in Ecuador. Then you can wire transfer your funds from your bank account in your home country to your bank account in Ecuador the annual interest is 8.5% $283 per month on an $40,000 investment, the interest can be collected every month.

Leave a Reply