Frequent Asked Questions

Ecuador: Paradise on earth

Ecuador is a paradise, should you want to retire or invest here. You can enjoy a comfortable lifestyle on just a fraction of what you would spend in many parts of the world. You can still find bargains as far as real estate is concerned.

Ecuador’s official currency is the U.S. dollar, which makes retirement in Ecuador especially appealing.

It’s easy to retire in Ecuador on less than $20,000 per year, and you can live a comfortable life. This low cost of living with all the facilities you would find in your own country, allows you to travel, purchased nice things in a few words: ENJOY YOUR RETIREMENT AS YOU SHOULD!

Why buy in Ecuador?

In Ecuador, foreigners enjoy the same rights and obligations as Ecuadorian citizens and can purchase Ecuadorian land and/or properties from abroad.

Joseph will handle all the formalities of the international transaction from verifications, funds transfers, legalization of all documentation, and registration of your land titles with the Property Registrar Office.

You do not have to be present in Ecuador to finalize the purchase transaction. You can mandate Joseph to represent you and complete the transaction in your name . Of course, should you to come to Ecuador to complete the transaction in person Joseph can assist you.

The time period required to complete the entire purchase transaction, including registration of your land titles, is approximately 1 month.

Ecuador – Banking Systems

Ecuador’s financial system has operated under the supervision of the Superintendent of Banks and Insurance Companies (Superintendencia de Bancos y Seguros) since 1927.

The financial system is comprised of many highly-sophisticated institutions with state-of-the-art technology, including: four large banks: Banco de Pichincha https://www.pichincha.com, Banco de Guayaquil https://www.bancoguayaquil.com, Produbanco/Proamerica https://www.produbanco.com/produnet/ and Banco del Pacífico https://www.bancodelpacifico.com/inicio.aspx , nine medium-sized banks (Banco Bolivariano, Banco Internacional, Banco del Austro, General Rumiñahui, Banco Machala, Banco de Loja, Solidario y Procredit), nine small banks, and one international bank :Citibank.
(Note: size is measured according to the bank’s assets).

The Deposit Insurance Corporation (COSEDE) provides deposit insurance and guarantees the safety of deposits in Ecuadorian banks, currently up to $32,000.

Prepared by our U.S. Embassies abroad. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.(2016) https://ec.usembassy.gov

Ecuador-Health Insurance

In Ecuador,  I strongly advise you to arrange a contract with a private health insurance. Isabelle will be happy to assist you.

Posted in Frequent Asked Questions.

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