Obtaining an Ecuador Visa (2022)

The rentier visa.

This is also known as the rentista visa.

Ecuador's government used to require that Expats demonstrate a steady income of $800 a month for an individual to qualify for this visa.

That minimum has been reduced to $400 a month, although Dr. Córdova believes it may be soon be raised to $1,200 per month.

The income can come from any of a variety of sources, including a pension, a trust or monthly rental(s).

This type of visa is good for 24 months .. can be renewed for a fee .. and is a stepping stone to a permanent residency visa.

Source.. immigration attorney Andrés Córdova

Investment visa.

This visa can be based on real estate, although the easier route is to invest $40,000 or more in a bank or co-op certificate of deposit.

As discussed on the Ecuador forum thread known as Too Good To Be True?, up to $32,000 of this deposited amount is typically guaranteed by Ecuador's version of the FDIC, known as COSEDE.  The short-term certificate can be rolled over from year to year.

This type of visa is renewable and can be a stepping stone to a permanent residency visa, according to Dr. Córdova.

High interest-bearing certificates -- 8 or 9 percent a year -- are currently available from such co-ops as Expat-favorite Jep and Policía Nacional.

Source for the $40,000 minimum...
       immigration attorney Andrés Córdova

Temporary visas.

A temporary visa of two-years duration may be obtained -- and renewed  for an issuance fee of $400 plus application fee of $50.  Seniors get a 50 percent reduction in the fees.

The temporary visa no longer requires that Expats limit their time outside Ecuador, unless they want to apply for a permanent visa.

Source... immigration attorney Andrés Córdova

Related issues.

Dr. Córdova does not believe the potential increase above $400 as an income minimum .. will apply to all permanent-visa applications.

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I estimate that 95 percent of Expat visa applicants would do well to work with a visa specialist or immigration attorney, unless they are applying through the Cuenca office, which has had an above-average number of bilingual personnel in recent years.

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Other visas may be available based on volunteer work, studies in Ecuador, educational degrees earned overseas, professional status or other requirements.  Discussion of these is beyond the scope of this series of posts as it was not addressed in Dr. Córdova's visa essay at garyascott.com ...

cccmedia

Is it "at least $32,000" or up to $32,000. Unless something has changed significantly, it's up to $32K

scottreds2k wrote:

Is it "at least $32,000" or up to $32,000. Unless something has changed significantly, it's up to $32K

The maximum insured for a depositor by COSEDE, Ecuador's version of the FDIC, is $32,000.

So if you have $20,000 deposited or invested with a financial institution that is 'fully' insured by COSEDE, you are covered for the entire 20K;  if you have 50K in such bank or co-op, you are covered to the tune of 32K.

An earlier post on this thread has been modified, removing the term "at least," for precision and clarity.

Opinions seem to vary as to whether one can deposit 32K with Co-op A and 32K with Co-op B .. and be insured for the full amounts at both banks.

cccmedia

Good eve-- I went to the ascott website but its all blocked even home page comes up blank...

l wish to apply for permanent resident someday so please tell me how much time can I spend
outside Ecuador during my temp residence visa without doing damage to my permanent visa
in the future?

cccmedia wrote:

. . . Opinions seem to vary as to whether one can deposit 32K with Co-op A and 32K with Co-op B .. and be insured for the full amounts at both banks. . . .

According to COSEDE (the authority), it is per institution (feel free to take their classes at https://educate.cosede.gob.ec).

However, people should be very aware that most co-ops are not "fully insured" as you phrased it - most cooperativas may only be insured for as little as ~$1k pp.  As far as I know, only JEP and CPN are currently "fully insured".  Banks, iirc, are all insured at the $32k level.

If anyone knows of another cooperativa insured at the $32k level, please reply / add it to this thread.
You can check your co-ops insurance amount here: https://www.cosede.gob.ec/conoce-tu-monto-de-cobertura/

Thanks for update and what does CPN stand for and can u recommend it?

Billy Mellon wrote:

what does CPN stand for and can u recommend it?

CPN is the acronym of the Cooperativa Policia Nacional, which I am attempting to join through an international transfer going through a Quito bank.

For more information, visit the Too Good to Be True? thread of this Ecuador forum or visit the YouTube.com channel called Mr. Second Passport where Dom Buonamici recommends CPN.

ccccmedia near the Colombia and Ecuador border

Billy Mellon wrote:

I went to the ascott website but its all blocked even home page comes up blank...

garyascott.com comes up fine on my laptop.  Try again, Billy.

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Correction:  Entrepreneur and former Ecuador businessman Gary Scott has at least two websites -- garyascott.com and garyscott.com ...
The website referenced in the first post on this thread should have been cited as garyascott.com -- and that post has now been corrected.

cccmedia