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How do you open a bank account in Ecuador?
Nov
28
2011
I have read that you can not open a bank account unless you have a resident visa. I have also read that you can only stay in Ecuador for 90 days in a 12 month period. Are these things true?
Answer #2
Well… regulations say that you need a resident visa to be able to open a bank account and banks are increasingly stricter enforcing this rule. In Ecuador a lot of things go if you know someone who knows someone, but that is a different story.
However, you can have Power of Attorney on someone else’s account (Firma Alterna) no matter what your status is.
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Answer #1
Not really…
if you know someone with a good rep in their bank you can open an account with their banker with their recommendation, even though you arent a resident…
and YOU CAN extend your 90 day stamped visa for 90 more days once in Ecuador getting the ACTO DE COMERCIO VISA.
saludos, dom