Overstaying your visa in Ecuador

3 months, non-renewable.

That’s how long you get on a tourist visa when you enter Ecuador with only your American/Canadian/European passport.

And then we’re told we can only be in Ecuador for 90 days per year as a tourist.

Bull sh*t.

galapagos-islands

Truth is, once in Ecuador towards the end of your initial 90 day stay, you can extend your time for 3-6 months with a 12-9 Turismo-Comercio (Tourism-Comerce) Visa paying $230 at any of the Ministerio de Relaciones Exteriores (Ministry of Foreign Relations) Offices throughout Ecuador.

How to get 6 instead of 3 months?

From what I’ve seen, it helps a lot to show more money (at least $5000) on the print out of your bank account they ask for when applying. Also, specifically ask for a 6 month extension in the solicitation letter they ask you to write.

Now, what really happens if you OVERSTAY your visa?

Well, I’m not proud of it, but I overstayed my visa last year, in 2010, by 9 months.

When I left I paid the same $250 fine I would have paid if I left one day past my visa expiration. I was also told I could not re-enter Ecuador for 9 months without getting a visa in a consulate prior to arrival.

I didn’t test it. I came back a few months ago, almost exactly 9 months after I left (I had some things to do in China).

This week, in the immigration office of Guayaquil, a city on the southern coast of Ecuador, I confirmed the rumor was true that as of this year Ecuador has abolished the fine for foreigners overstaying their visas.

No more fine.

Not even a slap on the hand.

Just show up at the airport and CHAO.

The only sanction is that you can not re-enter for 9 months without getting a visa prior to coming back.

Of course, I recommend staying legal if you can, it just makes life simpler, but the choice is yours now that you know what really happens.

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Cotacachi Gated Community, Lots $20k, Houses $99,900

Gated community with 5 houses built and 5 lots available for a total of 10 homes. Resale homes are priced for under $100,000.

Building lots range from $14,000 to $20,000. Underground utilities, city and local water.

cotacachi-real-estate-listings

real-estate-cotacachi

Security night guard at $50 per month per home. Yard work at $20 per month.

Area has continued growth and 5 minutes to town by taxi. Road improvements scheduled for 2012.

Subject property has 2 bedrooms with bathroom on the first floor and master suite with private bath on the second floor. Furnished.

For More Information Please Contact:

Micky Enright Real Estate Agent
[email protected]
10 de Agosto #10-64
Cotacachi, Ecuador
Local Cell: 087558194

To email the seller please use the form below:

[contact-form 12 “MickyEnright”]

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Free Ecuador Expat Information Center

Would you like free, unbiased answers to your questions about moving to Ecuador?

Now, at the Ecuador Expat Information Center of Guayaquil you can get ALL your toughest questions answered with one of our English speaking representatives.

How to hire health care?

How to get a residency visa?

How to ship your household goods without hassles?

How to find rentals and property at the lowest prices in your area of interest?

And we also serve as a bed and breakfast and can pick you up upon arrival in the Guayaquil Airport!

Click here for more on the Guayaquil Bed and Breakfast and Expat Info Center.

guayaquil-airport-hotels
A view of the matrimonial room
hotel-near-guayaquil-gye-airport
A view of the front door and lobby

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Will you get priced out of Ecuador?

This week I got an angry comment from a reader.

“The bottom line in all of this is that if you do not buy now you will be priced out of the market. The Americans Have literally driven the prices up so high that prices are ridiculously higher than they were even 5 years ago. What I do not like is how the Americans went into Ecuador and bought properties for 15, 20 ,25 thousand dollars and are reselling them for 150, 200, 250 thousand dollars. The people in Ecuador at the time were not aware of how valuable their houses were and when they were shown so much cash, and for them 15 thousand at the time was a lot of money they went for it. Now many of them feel duped. But the President of Ecuador is becoming aware of this and he could step in at any time and do whatever he wants to do, to expats. So do not under-estimate a president that graduated from an American school in Ecuador to take care of his own first.”

pescado-a-la-plancha-ecuador
Pescado a la Plancha in Ecuador, a typical and delicious dish...

My take?

Truth is…

I recently left Ecuador for a year to go live and work in China and India.

Came back a few months ago.

And within a few weeks found a liveable place with a beautiful ocean view for under $20k… that, yes, needed a lot of work.

No biggie.

The “Ecuador dream” of finding a desirable piece of real estate CHEAP is still out there.

But you have to know how to look!

As more foreigners buy up places the prices will naturally rise.

But they don’t rise across the board down here because there is no nationwide MLS system, most people have NO IDEA what true market values are when they buy or list homes.

It’s a free for all.

A crap shoot.

But it’s fun for those who know how to play the game.

Fact is, most of you will come down and think prices have already risen or that there is simply not much available.

Bull sh#t.

You can still find deals well under $50k if you are patient and know how to find them.

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Cotacachi- the Cold Truth Revealed

I’ve got a confession to make.

Even though I’ve been in and out of Ecuador for six years now, bought property, and been writing this weekly newsletter on Ecuador investing/living for a year now…

cotacachi-real-estate
Lake Cuicocha near Cotacachi Ecuador

…until this week, I’ve never been to Cotacachi, one of the most hyped-up expat destinations in Ecuador.

Why?

I guess a “gringo village” with inflated for-foreigner prices in the middle of no-where never really appealed to me.

At least that was my impression of the place before I went.

What were property prices like?

Despite the years of international promotion I found the prices to be rather reasonable, but not cheap for Ecuador standards. Apartments are starting around 40k, new houses just outside the town start around $100k. Vacant lots in the town were really expensive, while out on the fringes the prices start around $30 per m2. Further out you can find for cheaper, often starting around $20 per m2. Lots in gated communities were going for $40-60 per m2.

Producing farms in the general area were going for $10,000 per hectare.

My take?

To my surprise, Cotacachi is not just a “gringo village” and is in fact a typical Andean town with cobblestone streets, green mountains, colorful markets and far more locals than foreigners.

It is quiet, quaint and beautiful but I found it NOT any more or less beautiful than dozens of other nearby towns like Ibarra.

The lake (Cuicocha) you see in the photos online is truly the most stunning I have ever seen, beating Lake Como (Italy), Lake Toba (Indonesia) and Glacier (Montana, USA). But it is quite far from town (10 mins by car) out-of-site and protected so no one can buy property in the vicinity.

Overall, Cotacachi’s quiet environment is ideal for retirees looking for a temperate, mountain climate near other foreigners.

It is NOT ideal for more active folks looking to start a business or work. Even during peak hours Thursday through Saturday many of the shops in town were closed and the streets looked rather bleak. Few tourists were around, just the occasional expat (there are approximately 300 living in the area).

Although prices have risen over the last 3 years you still can find deals like the $8000, 300m2 lot I found right in town if you know how to look and take your time.

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