residential visa

Okie dokie sue wrote:

Is there any specific reason why one would be turned down for residential visa?

Not enough income or not a large enough investment, too many of the wrong kind of felonies on your police record.

What do you mean by investment

Here is a list of immigrant visas that permit residency in Ecuador:
http://cancilleria.gob.ec/visas-inmigrante/?lang=en

On the government website each one is clickable and will take you to the particular requirements for each type of visa.

    Visa 9: I Foreign Pension
    Visa 9: I Trust Visa Cash Deposit

    Visa 9: II Investor Visa, Insurance policies, bonds or mortgage bonds
    Visa 9: II Investor in shares of companies
    Visa 9: II Investor in real estate

    Visa 9: III Investor – Foreign person that does not make the investment
    Visa 9: III Investor – Company (Not anonymous – minimum $ 30.000)
    Visa 9: III Investor – Individually owned business (Industry, agriculture, livestock and export trade with minimum investment of $ 30.000)

    Visa 9: IV General Attorney (companies that is located in the country)
    Visa 9: IV General Attorney (companies that will reside in the country)
    Visa 9: IV Employment Contract
    Visa 9: IV Religious
    Visa 9: IV Foreign Press

    Visa 9: V Professional

    Visa 9: VI Sponsor for Marriage, Relationship or Family Reunification,
    Marriage Ecuadorian – Foreigner
    Visa 9: VI Foreign children who benefit from Ecuadorian parents
    Visa 9: VI Foreign parents which benefit from Ecuadorian children
    Visa 9: VI VI Parents or siblings that benefit from Ecuadorian by naturalization
    Visa 9: VI De Facto Unions between Ecuadorian and Foreign Individual Person
    Visa 9: VI Other cases where there is a relationship of second degree of
    consanguinity and / or second degree of affinity.

Okie dokie sue asked: 

      "What do you mean by investment?"


Say you paid $25,500 investing in an EC condo, but it turned out that the taxing authority valued the property at 2K less.  Then, theoretically, your application for a real estate investment visa could be rejected for failing to meet the minimum threshold of 25K.  (The minimum is increased by $500 per dependent such as a spouse or a child.)

If you had been working with a qualified attorney towards your visa, this scenario is unlikely because the attorney would normally catch the 2K discrepancy.

The EC investment visa -- which can also be obtained through investment in a 25K bank CD -- is only one scenario for an Expat to obtain residency via a permanent visa.

The other popular route for Expat retirees is a pensioners visa, which requires a single person to have a minimum income of $800 per month through Social Security, a private pension or another source of reliable income approved by the Cancillería.  Rental income is not allowable in order to meet the minimum.  The minimum is marginally increased by the inclusion of dependents in the visa process.

cccmedia in Quito