Archive | Ecuador for Investors

12-VIII Volunteer Visa Requirements Ecuador

 12-VIII Volunteer Visa Requirements Ecuador

12-VIII Volunteer Visa Requirements Ecuador (12-VIII INTERCAMBIO CULTURAL)

Requirements:
1.- Signed petition letter directed to the head of the Ministerio de Relaciones Exteriores which states how long youd like to stay in Ecuador and why.

2.- Signed Application Form with passport photo.

3.- Passport with at least 6 months valid remaining with copies of the entry stamp, ID page and current visa.

4. Notarized copy of the exchange agreement.

5. Agreement that the party involved is willing to work for free.

6. Description of the project.

7. Notarized copy of the NOMBRAMIENTO DEL REPRESANTE LEGAL.

8. Notarized copy of the authorization by the Ecuador government that institution has to work under.

9. Notarized copy of the ESTUTOS.

10. Written obligation of entity to handle exit costs of volunteer if need be.

All documents should be translated if in language other than Spanish.

Valid: Maximum 2 years (renewable).

Application fee: $30 USD
Visa fee: $200 USD

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Posted in Ecuador for Investors, Expat Lifestyle

12-VI Work Visa Requirements Ecuador

12-VI Work Visa Requirements Ecuador

12-VI Work Visa Requirements Ecuador (VISA 12-VI TRABAJO)

Requirements:
1.- Signed petition letter directed to the head of the Ministerio de Relaciones Exteriores which states how long youd like to stay in Ecuador and why.

2.- Signed Application Form with passport photo.

3.- Passport with at least 6 months valid remaining with copies of the entry stamp, ID page and current visa.

4. Copy of Resume.

5. Title of company (Escritura) properly registered in the REGISTRO MERCANTIL.

6. “Certificado actualizado del RUC” of the sopnsor.

7. Certificate from the SUPERENTENCIA DE COMPANIAS that states the capital of the business is over $12,500.

8. “Nombremientos” of the board of directors of the company.

9. Certificate from the IESS Social Security system proving the company has no obligations open with the IESS.

10. Certificate from the CUERPO DE BOMBEROS

11. Certificate PATENTE MUNICIPAL

12. For Spouses, must adjoin marriage certificate legally certified by Ecuadorian Consulate.

13. In the case of Labor contracts, need to present contract as registered in the DIRECCION DE TRABAJO and authorization from the MINISTERIO DE TRABAJO.

All documents should be translated if in language other than Spanish.

Valid: Maximum 2 years (renewable).

Application fee: $30 USD
Visa fee: $200 USD

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Posted in Ecuador for Investors, Expat Lifestyle

12-V Student Visa Requirements Ecuador

student visa ecuador

12-V Student Visa Requirements Ecuador (VISA 12-V ESTUDIANTES)

Requirements:
1.- Signed petition letter directed to the head of the Ministerio de Relaciones Exteriores which states how long youd like to stay in Ecuador and why.

2.- Signed Application Form with passport photo.

3.- Passport with at least 6 months valid remaining with copies of the entry stamp, ID page and current visa.

4.- Copy of exit airfare ticket.

5.-Matricula (Proof of Enrollment) from legally recognized learning institution. Should prove studies of more than 6 months in a calendar year.

6. Show proof you have at least $1000 deposited in a bank entitled for your subsistence while in Ecuador. All documents should be translated if in language other than Spanish.

Valid: 6 months to 1 year.

Application fee: $30 USD
Visa fee: $100 USD

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Posted in Ecuador for Investors, Ecuador Q&A

12-X Tourist Visa Requirements Ecuador

12-x visa ecuador

12-X Tourist Visa Requirements Ecuador (VISA 12-X VISITANTE TEMPORAL)

Requirements:
1.- Signed petition letter directed to the head of the Ministerio de Relaciones Exteriores which states how long youd like to stay in Ecuador and why.

2.- Signed Application Form with passport photo.

3.- Passport with at least 6 months valid remaining with copies of the entry stamp, ID page and current visa.

4.- Copy of exit airfare ticket.

5.-Proof of economic solvency (show bank statement from home institution). All documents should be translated if in language other than Spanish.

Valid: 90 days in each 1 year period.

Application fee: $30 USD
Visa fee: $30 USD

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Posted in Ecuador for Investors, Ecuador Q&A

12-IX Tourist Visa Requirements Ecuador

tourist visa requirements ecuador

12-IX Tourist Visa Requirements Ecuador (VISA 12-IX TURISMO-DEPORTE-SALUD-ESTUDIOS CIENCIA-ARTE-ACTOS DE COMERCIO)

Requirements:
1.- Signed petition letter directed to the head of the Ministerio de Relaciones Exteriores which states how long youd like to stay in Ecuador and why.

2.- Signed Application Form with passport photo.

3.- Passport with at least 6 months valid remaining with copies of the entry stamp, ID page and current visa.

4.- Copy of exit airfare ticket.

5.-Proof of economic solvency (show bank statement from home institution). All documents should be translated if in language other than Spanish.

Valid: 90-180 days

Application fee: $30 USD
Visa fee: $200 USD

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Posted in Ecuador for Investors, Ecuador Q&A

Pricing the Lot- Part 9, The Ecuador Property Search Series

land prices ecuador

Salinas, Ecuador

This is part 9 of this not-so-common look inside a real, live property transaction (of my own) in Ecuador.  Follow me as I reveal all the dirt as it happens.

Today I just finalized the process of clearing up the title issues of the lot.

It helped to have a few contacts in the Municipal.

You don’t need contacts to do what I did but it makes the process faster.

So I now have a notarized Escritura (Deed) and its registered in the Registrar proved as such by the Certificate of Registry (Certificado del Registrador de la Propiedad).

The whole process to legalize the communal land… took me about 2 weeks.

Now it can be sold privately without having to go to the local Commun.

The only setback at the end of the process was that the Notary had made errors about my personal information that needed correcting.  Without even asking the folks in the notary mistyped both my gender and marital status and I didn’t catch it at first.

It was a hassle that caused me a few extra trips both to the Notary and Registrar.

Be sure you read carefully, or have someone read the Deed to you while translating, before signing.

Now, the fun part. 

Pricing the lot.

Reasonably priced, front line, oceanfront property in Ecuador is getting harder to find.

Once bought by a foreigner a beachfront property will usually double or triple in price instantly unless its already priced high.

But you can still find deals like the one I found.

Last week, I know of a 1000m2 (10763ft²) beachfront lot in Cadeate (a town near Montanita) asking $35k ($35 per m2) that sold in 3 days!

I’d say the average price I’m seeing in Ecuador for beachfront land is around $35-45 per m2 with prices on the southern coast being a bit higher.

For larger, multi-hectare lots you can still find people selling at $1 per m2, but the investment will still be in the hundreds of thousands.

But the prices are all across the board.

It’s common to also find lots asking in the $60-80 per m2 range all the way up to one development I know in the Olon area that sells smaller beachfront lots, and has sold many, at $200 per m2!

And one block back off the beach it gets a lot cheaper, quick, with lots usually asking around $15-25 per m2.

In the better parts of the cities of Ecuador, like where I’m at in Guayaquil, the land goes anywhere from $300-500 per m2.

So as the coast populates and internationalizes there’s still a lot of room for growth.

I think if you sell in 3 days you priced too low.

But if it takes months or years then you’re either not promoting well or priced too high.

So for my 475m2 beachfront lot in a small fishing area 25 minutes from downtown Salinas, I’m going to start by asking $25k ($52.60 per m2).

That’ll give me a little room to negotiate.

If someone came along and offered me near that price but a few thousand less so the price got into the $40s per m2, I’d probably take it.

It’s a nice lot, raised 15 feet above the ocean with outstanding views, but flat and ready to build, with no road in front, just the ocean while the lot is in an urban area so water and electric are easily hooked up.

So there it is, it’s officially for sale…

Respond to this email if you’d like more info.

Stay tuned!

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Posted in Expat Lifestyle, Investor News/Analysis

Where’s the best surf in Ecuador?

surfing in Ecuador
The surf off Ayampe.

For the best surfing in Ecuador for beginners and intermediates I’d try Montanita or Canoa.

The beach in Montanita has a good gradual break for beginners at one point and intermediates in another.

For empty waves off the beaten track try the breaks off Ayampe and Las Tunas a little further north.

Another good relatively unknown break is in the Playas-Engabao area.

For a world-class left break try Mompiche in the north.

In the Galapagos, world-class surfing for experts only can be enjoyed in and around the beaches of Puerto Baquerizo Moreno.

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Posted in Ecuador Q&A

The Top 3 Spots for White-Water Rafting or Kayaking in Ecuador

kayaking in Ecuador

For me, the top 3 places to white water raft or kayak in Ecuador are …

1. Rio Quijos near El Chaco town.

2. Tena and the Rio Napo.

3. Ibarra and the rivers around are an off the beaten track kayaking or white water destination. My fav!

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Posted in Ecuador for Investors, Ecuador Travel Guides

Where’s Best to Go Scuba Diving + Snorkeling in Ecuador??

scuba diving ecuador
A view of the wildlife swimming just off shore on Isabela Island, Galapagos… Amazing!

By far the best place for snorkeling and scuba in Ecuador is in the Galapagos where the water is transparent and the animals are a plenty.

It’s not uncommon to see gigantic Manta Rays, sharks, sea turtles, sea lions and more in a matter or minutes when scuba diving in the Galapagos.

I highly recommend Scuba off of Floreana Island, Galapagos.

The mainland has darker, murkier water not great for seeing wildlife but the best place to scuba is in Ayangue, on the southern coast.

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Posted in Ecuador for Investors, Ecuador Q&A, Ecuador Travel Guides

Where to go Mountain Biking in Ecuador?

biking chimborazo

That’s me biking Chimborazo.

 

For mountain biking in Ecuador its hard to beat the all-day-long descents offered by Cotopaxi, Chimborazo or Banos.

Guides out of Quito offer the day trips to Cotopaxi and Chimborazo, the Banos trip can be done independently renting a bike from one of the many shops in town.

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Posted in Ecuador for Investors, Ecuador Travel Guides

The Buying Process in Ecuador – Part 8: Ecuador Property Search Series

closing costs of property purchase in Ecuador

This is part 8 of the not-so-commonly-seen look into a real, live Ecuador real estate transaction (of my own with my own money) as I reveal all the dirt as it happens in this rare, completely transparent property play.

After we agreed on price, the next step was to go visit the lot one more time and double check to be sure it was completely unoccupied and that there weren’t any 50 foot holes or some other deal killer.

It was fine so we proceeded in agreeing to payment terms.

In Ecuador, there is no “Escrow” service so each property transaction is a bit different.

Some use a third-party lawyers account but I trust them less than I do the seller.

Not an option.

Some sign a “Promise of Sale” (Promesa de Compra Venta) in a Notary and give a deposit to secure the sale but most for smaller transactions like this one are OK with skipping it and paying upon signing of the deed (Escritura) usually with a certified check from your Ecuadorian Bank or via a direct bank wire if the funds come from abroad.

Every property purchase in Ecuador is different in this regard.

One thing I do recommend is to “keep the seller in the loop” until the property is officially registered in the Property Registry office. If you pay them all at once upon deed signing they’ll disappear, and you may need them later for some requirement the Registrar asks.

I agreed to pay half via certified check upon signing of the deed (Escritura).

And paying the other half when the property has cleared title and is properly registered for the first time where it needs to be in the Property Registrar of Santa Elena (which covers the whole Salinas area).

Part of me still doubts this purchase will get that far.

Next we had to go to the local “Comuna” and transfer the “Right of Possession” (Derecho de Posesion) the seller had to my name and have the president of the Comuna sign off.

At first the Comuna asked $500 but then we found a friend of the seller with some contacts in the Comuna that did the name transfer for $200.

After the Comuna name transfer the next step was to solicit an inspector from the Municipal in Santa Elena to come and measure the property and give it an official tax ID number (Numero Catastral) which it never had before. This cost me $30.

After that on the same day they issued us a certificate with the offical measurements and new tax ID number of the property.

With that and the Right of Possession in my name from the local Comuna, we had the properties’ first ever Escrituras (Deed) drawn up by a notary in Guayaquil while I paid the Capital Gains Tax (Plusvalia), Transfer tax (Alcabas), and got the Certificate of not having any leins (Certificado de no ser deudor).

Total cost of drawing up the deed in the notary and paying all the transfer taxes mentioned above, $200 more.

Plus I paid a local lawyer in Guayaquil $120 to do a further title check and help me with the run around a bit do to the unique circumstances of this purchase.

As I write this the new title (Escritura) has now been signed and sealed by the Notary in Guayaquil, and is ready for registering in the Property Registrar, the final and most important step.

I’ve been told the registering will cost around $260 plus another $15 to “Catastrar” the property registering it with the local Municipal as well.

Tomorrow I hope to successfully submit the title to the registrar.

Total estimated closing costs of a property municipally valued at $4160: $725

Elapsed time: 1 week

Stay tuned to see what happens now. Wish me luck!

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Posted in Ecuador for Investors, Expat Lifestyle, Investor News/Analysis

Where to go Mountain Climbing or Mountaineering in Ecuador?

mountain climbing ecuador
Me at the base of Cotopaxi.

For those who like scaling mountains in one day I’d try the Volcan Imbababura (4609m) in the northern highlands.

For more experienced climbers the next best are Cotopaxi and Chimborazo(6310m).

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For horseback riding, I’d try the beach of Olon on weekends, or one of the several agencies offering guided rides in the Banos area.

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Posted in Ecuador for Investors, Ecuador Travel Guides

Where’s best to horseback ride in Ecuador?

Near Olon beach in Ecuador.
Near Olon Beach in Ecuador.

For horseback riding, I’d try the beach of Olon on weekends, or one of the several agencies offering guided rides in the Banos area.

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Posted in Ecuador for Investors, Ecuador Travel Guides

Where’s best to go hiking in Ecuador?

hiking in Ecuador
A view from the trial of Quicocha Lake

Ecuador’s an awesome country if hiking is your thing.

For me, the coolest hikes in Ecuador is the hike down to the crater of Quilotoa Volcano, the hike with the natives around the dry coastal rain-forest in the Machalilla National Park, and the hike around the Quicocha Lake near Cotacachi.

All amazing!

Give ’em a try.

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Posted in Ecuador for Investors, Ecuador Travel Guides, Expat Lifestyle

Where’s best to go bird-watching in Ecuador?

birdwatching in Ecuador
A Pelican hanging out off a peir in the Galapagos.

By far the best place to bird watch is in the Galapagos where on a single day you can see the world’s smallest penguin, frigates, blue-footed boobies, finches and more.

Next would be the cloud forests of Mindo where you can see hundreds of different types of birds like the Andean cock-of-the-rock.

Next up would be the Zamora Amazonian area where with luck you can spot a Toucan or go visit the cave where there is a type of bird that ONLY exists in that one cave… Tayos.

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Posted in Ecuador for Investors, Ecuador Travel Guides

Done deal. Bought the beachfront lot. Now what?: Part 7 Ecuador Property Search Series

Puerto Lopez Ecuador


This is part 7 of the not-so-commonly-seen look into a real, live Ecuador real estate transaction (of my own with my own money) as I reveal all the dirt as it happens in this rare, completely transparent property play.

OK, so today I came to agreement with the seller to buy his 475 m2 (5112 ft2) beachfront lot near Salinas, Ecuador with title issues for $4300.

What’s my plan?

The plan is to buy—> legalize the title issues—> and resell.

Hopefully all within 1-3 months.

That’s it.

Nothing fancy about it.

I know I’m taking a risk here. I may lose everything I’ve invested.

But the potential reward is really good, based on my experience, the lot, when legalized with clear title, is currently selling for at least 2-3 times what I’m paying for it.

Once when I was 20 I bought a car in San Diego for $350 with title issues.

I didn’t know what I was doing and new to the state.

No problems until I went to register the car.

And I found out I couldn’t register it unless I paid an unpaid tax lein that was worth more than the car itself.

So what did I do?

I tried to sell it to an ex-girlfriend.

But then the cops pulled her over and i felt bad and gave her her money back, then I junked the car, it was essentially non-transferable, no one would buy it with the lein it had against it worth almost double the car (it hummed like a helicopter).

A loss.

This time I did my homework, went to the Registry office beforehand and followed up with numerous “experts” I know down here and have concurred that in fact the title issues of this property as mentioned in the previous posts can in fact be cleared in a timely fashion.

Besides, I must get it right cause my ex-girlfriends in Ecuador probably can’t afford it.

Haha, just joking.

We’ll see.

So what price should I put on it?

Anyway, stay tuned, we’ll see how it goes.

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Posted in Ecuador for Investors, Expat Lifestyle, Investor News/Analysis

Whats the Ecuadorian Lifestyle like?

ecuador lifestyle

Good question.

It depends a little where you are.

On the coast the people are laid back and definitely have the “manaña” mindset.

There’s always tomorrow.

People definitely “work to live” instead of our “live to work” lifestyle.

Ecuadorians in general aren’t quite as ambitious as we are brought up to be, and generally more distrustful (maybe with reason).

Women still look for men to support them and are happy to get married and stay in the kitchen… so to speak.

Girls from less affluent backgrounds have kids VERY young.

Ecuadorians are very family-oriented and Sundays are generally set aside for relaxing and hanging with family.

The work week is from 9-6 with a one or even 2 hr lunch.

Marriage is also expected at younger ages and folks in their 30s un-wed is an odd sight.

Interesting place to say the least!

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Posted in Ecuador for Investors, Ecuador Q&A

Bargaining the Deal Ecuadorian-Style. Part 6 Ecuador Property Search Series

Negotiating in Ecuador

$6000?

“Whew, that’s steep man.” I said as we sat down to negotiate the 475m2 (5112 ft2) beachfront lot I found for sale in Ecuador this week.

“Look, I’ve got another opportunity available, whats the minimum you’d accept?” (Mire, tengo otra opcion, digame cual es lo ultimo?) I asked.

“OK, OK, $5000, but that’s if you pay in cash.” The seller rebuttled.

“Well, I would pay that, but the lot has title issues, and I’m going to have to pay extra to fix that, and there’s a certain risk I’m taking on in that the title issues may not even be correctable, so because of that, I’ll pay maximum $4000.” I responded using the title problems as a bargaining chip.

And the bargaining went on…

Here’s 8 tips I have when bargaining with Ecuadorians.

8. Ecuadorians almost always will be willing to round off asking prices. For instance, if they’re asking $28k, they’ll almost always accept at least $25k, but don’t let that be your first offer. In my case, the seller was asking $6k so I knew he’d at least accept $5k.

7. A “no” is never a “hard no” in Ecuador, it just means “no right now”. Be slow, keep calling and be persistent, once they get a comfort level with you they might start lowering the price when initially they didn’t want to.

6. Learn a few key common very Ecuadorian phrases like “Cual es lo ultimo?” (Whats your lowest price?) and “Mira, tengo el efectivo, uno tras otro.” (I’ve got cash and I’ll lay down the bills, one after the other.) “Es mucho.” (That’s too much.)

5. Don’t be afraid to throw out a ridiculously low bid, at maybe half the asking price, they may not say yes but they won’t get offended and it gives you a good starting point for negotiating.

4. Be patient and don’t be afraid to throw a number out there and let it marinate while the seller thinks about it, they just may come around with time.

3. Caution, they may try to change the end asking price or terms on you after they’ve already been settled on if they feel they are selling to cheap. And generally, the spoken word isn’t a binder in Ecuador so once you got a deal it’s best to work fast before they have sellers remorse.

2. Don’t show money. You don’t have to, they’ll take you serious even though you’re dressed like a dirty bum simply because you are a foreigner. If you show money they may be more reluctant to bargain price.

1. Stay out of the picture as long as possible. As I did early on in this post series, try to have a local friend talk for you at least until you get an asking price to be sure you’re getting quoted a price a local would offer to another local, then you can come into the picture.

We’ll see what happens from here, stay tuned!

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Posted in Ecuador for Investors, Expat Lifestyle, Investor News/Analysis

The 2012 Ecuador Population: Facts and Figures

ecuador population

Ecuador has 49 people per square kilometer, but 60% of the population lives in the urban centers of Quito and Guayaquil.

25% of the population is indigenous.

65% is mestizo or of mixed indigenous and European descent.

3% is afro-ecuadorean.

6% pure European descent.

14,666,055 total population (according to the world bank.)

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Posted in Ecuador for Investors, Ecuador Q&A, Expat Lifestyle

5 Day Itinerary to South Ecuador: Off the Beaten Path!

Zamora Ecuador
Zamora Ecuador

Most tourists dont even consider this part of Ecuador, but you know, for me, its actually my favorite part of the whole country!

In 5 days you can visit most of the highlights.

Start off by flying into Guayaquil, stay the night at my place if you arrive late and continue to Machala the next morning.

In Machala you can tour banana or Cocoa plantations and also visit a Hummingbird Sanctuary.

From there continue to Zaruma, a colonial town build into a mountain which was a gold mine back in the day. Here you can also go on a gold mine tour.

After sleeping in Zaruma head up to Loja where youll want to try local delicacies like the Tamal Lojano and Tigrillo.

After visiting Loja by day head to Vilcabamba and sleep there.

Few places in the world are as quiet as Vilcabamba. Relax while you enjoy literally perfect not too hot not too cold weather and eat dishes like Filet Mignon for around $6.

After Vilcabamba head to Zamora, a small town tucked in the Amazon with loads of Orchids growing out of everything, and the National Park Podocarpus a stones throw away. This area also is known for the origin of the shrunken heads that Hollywood made famous.

Head by bus up through the jungle to Gualaquiza, where youll probably be the only foreigner around, just like in Zamora.

From there you can catch transport back to Cuenca where you can stroll the beautiful old town and converse with fellow expats and from there head the 3 hrs down the mountains back to Guayaquil.

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Posted in Ecuador Travel Guides

Free 2015 Ecuador Property Price Guide

Don't overpay! Get 2015 Ecuador property price data based on over 500 transactions in this brief, informative report, Normally $64.95, today get it FREE! Fill in below to receive now:



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