Home
About
Sign Up Now
Log InQ&A Categories
Find a Question:
Residence and Citizen Status
Dec
4
2011
It has come to my attention, that if I were to deposit $25,000.00 into a 1011 Visa, that I may become a Resident of Equador. If we were to create jobs and implement a job placement business and also establish a food program, if needed, for any area that would be in need of it,would this expidite the move to being a Citizen? The wife and I would have sufficient resources to be able to implement these programs.
One of the things that I have conteplated is to renounce my USA citizenship…… For many reasons.
Answer #2
Hi Mrc, why dont you just buy a small condo or house for 50K, get an investment visa. I believe you have to live in-country for at least 3-5 years for citizenship.
Also I’m guessing many of us here may have similar thoughts, but as you probably know Big’sis may be monitoring everything, including sites like this. we wouldnt want to fall under new “1867″ guidelines, so it’s all about vacation homes and getting out– to our “vacation homes” safely-just my thoughts. Tracy
Answer #3
Seems to me that some folks are concerned with the money leaving the country and with the imposed taxes. How about, if there were a little over $1M staying in Ecuador and being usd to create housing? And the proceeds from the sales of the houses remain in the country? What’s the legal ramifications then?
Answer this Question
You must be Logged In to post an Answer.
Not a member yet? Sign Up Now »
Star Points Scale
Earn points for Asking and Answering Questions!
[1 - 25 
]
[26 - 50 
]
[51 - 500 
]
[501 - 5000 
]
[5001 - 25000 
]
[25001+ 
]
Answer #1
Hi;
Yes you can deposit that amount into a bank or use it to purchase property with a municipal value of at least that amount and become a resident. I believe the least amount of time needed to become a citizen of Ecuador is 3 years from what I have heard. That question is probably best answered by an immigration attorney based on current law and rules (which can change quickly).
On another note…I have pictures for you and will be sending soon. All the best.
Larryp