Category: Ecuador Q&A

Hi, getting financing for foreigners in Ecuador is difficult… the best way is to negotiate an agreement with the seller of the property to offer you some kind of direct financing…many sellers are in fact open to this in Ecuador! But the interest you pay may be higher than in the banks… Ive extended financing to buyers this way and done pretty well although it is a bit risky…saludos, dom

Id also recommend my guide, which does explain the property search process (the insider’s way) in Ecuador… read more here…

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Great question. Basically, to find a caretaker or someone to look after your home the idea is to find local real estate agents in the area. For many, their main business is actually property management, finding renters, etc… although they don’t advertise much that end of it…

hope that helps, dom, Got a question? Contact me here.

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Work Visa Ecuador: VISA 12 – VI:

It’s not that difficult to get a work visa in Ecuador and the process is actually pretty straightforward. You need a sponsor, from a legally established Ecuadorian company that is good on it’s taxes.

You can apply once in Ecuador but you need to be on a consular-issued visa in Ecuador, not just a tourist entry stamp.

The fees are around $230, for more info and the application forms click here.

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Student Visa Ecuador: VISA 12 – V:

Requirements:

1. Passport good for at least 6 months.
2. Health and HIV test
3. Proof of sufficient funds from your bank, copy of statement
4. Police record (must be clean)
5. 2 Passport photos
6. Proof of registration in Ecuadorian institute or university
7. Copy of legal registration of the school

Valid for 1 year, possible to renew.

$130 application fees

Can apply once in Ecuador but may have to leave country to nearby country in order to process.

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There are two basic ways to start a business in Ecuador. You can do either without being a legal resident in the country.

First, you could start the Ecuadorian version of a corporation, called a “Sociedad Anonima”. In order to get started, you need to go to the governmental office called the “Superentendencia de Companias” where you will fill in the necessary paperwork and pay $800 which then turns into $800 stock in your new company. You can put the stock under whichever names you desire.

After that step you will need to get your “RUC” which is your business tax ID number in Ecuador. You get this from the government office called the SRI.

Then, in one of the many small stores outside the SRI, you can get “facturas” or official business receipts for your billing made for your business and from then on you will be liable for taxes in Ecuador.

The other way to form a business in Ecuador, and the way most prefer, is to simply work under your name as a sole proprietor.

In order to do this, just go to the SRI and get your “RUC” or tax ID number, get some business receipts made in the offices on either side and you can legally bill and receive payments in Ecuador (without needing to be a resident ).

I bet it is easier than you thought to start a business in Ecuador!

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