Wow! Reading these forum is mind-boggling! I'm looking for information, cut and dry, on the steps to moving to Ecuador for retirement. What I'm finding here is a mish-mash of information. It seems that the experience is never the same for any two people! It seems the requirements and time spent varies. Our plan is to get down there by March of 2014, and we're trying to figure out what the first step is in trying to get residency. When should we begin this process?
From what I've come to understand, there are only two residency options open for my husband and myself to be able to retire to Ecuador. Please feel free to chime in on this with any advice you can offer.
Pension: A retired person could somehow (?) prove that they have a pension of at least $800 a month. Usually this is attained by social security, however, this is not the case for us. My husband is taking EARLY retirement and won't qualify for social security for another few years. We plan on living off of 401K and investment retirement accounts, so will immigration allow us to use this option? If so, how do we prove that we will be able to withdraw a certain amount to live off of in order to qualify for residency?
Investment: Making an investment in property or a certificate of deposit. We understand this is a second option, but were told that once the money is invested, it cannot be touched, nor can the investment property be touched as long as you want your residency. This raises the question of whether or not a residency type can be switched later, for example, using this investment plan to get there and changing over to the pension residency once the social security kicks in. Is this possible?
Is this information we would be able to get from an immigration attorney? If so, can anyone please inbox me with someone they have found reliable and able to make the transition go smoothly? Thanks for any input you can give.