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$ needed for a permanent resident
Oct
24
2011
hi,
this is my first post, and i posted it in the wrong place allready! so here is my question in a new topic:
i have read on this forum that the minimum amount for starting a business is now $25,000.
so does that mean that if i have, lets say $20,000 , i can’t get a residency visa by starting a business? I am not retired, so there is no way for me to move to ecuador and becolme a permanent resident? help help help
thanks
gwen
Tags: residency visa
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Answer #1
Hi Gwen;
The requirement that you speak of is to deposit in the bank while your business is being set up. This is new this year and only within the last couple of months as it seemed many people were using this way of obtaining a visa in an easier and quicker time frame for their clients who had no desire nor wanted to open a business…the filings were being done monthyly showing no activity of any kind. The government saw this and is doing their best to stop it, hence the new requirement (it used to be $800). The business visa is there for those that really want to open and operate a business in Ecuador. There are many other visa types that you may qualify for and I would suggest it best to speak to a good immigration attorney to see which is your best option. Also, a business visa is NOT a residency visa, it is a non-immigrant status visa. I hope that helped some.
LarryP