This week on my weekly Ecuador Insider’s newsletter I’ll reveal How to Bring Your Household Goods to Ecuador with Ease, to receive this valuable info this coming Sunday, sign up below, it’s free! (You can unsubscribe at any time):
Category: Ecuador for Investors
The “Local” Trick to Receiving Mail Securely in Ecuador
One thing you may take for granted in the US is the reliable post service, unfortunately, Ecuador, doesn’t have a reliable one.
Sometimes, email simply won’t do!
So, what do the locals do when they have to mail important things within Ecuador? They use the local airlines and bus companies!
Let me explain.
For example, if you have to mail something from Quito to Cuenca, the best way to do it would be to go the package desk of an airline that flies to the packages’ desired destination in the airport, and mail it so it goes under the plane of the airline.
The airline will receive your package or letter, give you a receipt, and proceed to mail it for you in the cargo section of the next plane that leaves.
Once at the destination, the person who receives the letter needs to go to the airline counter with the code of the mailing and their ID card or passport in order to claim it.
Mailing a small letter in this matter within Ecuador will cost you around $1.50 and usually arrives within 1-2 business days.
For smaller cities that airlines don’t service, you could mail a package or letter in similar fashion securely with the local bus companies. Just go to the bus terminal and to a bus line that travels to where you want to mail to go. At the counter, pay and as with the airlines, get a receipt. The bus company will then hold your package in their office at the destination until the recipient goes to pick it up.
This is how the locals do it!
As for receiving mail from abroad (or sending it) both DHL and FEDEX have offices all over Ecuador and are reliable options.
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Good or Bad Buy? The Ecuador Stock Market
This week on the Ecuador Insider’s Newsletter I showed you how you can profit investing in the Ecuador Stock Market.
The Ecuador stock market is still in diapers compared to what you may be used to in the States or Europe. But, it is an interesting alternative none the less. But there are many class to teach you more about stock marketing and investments, here is a thorough review. Most families in the States have the financial advisor, invest in IRAs, bonds, mutual funds, and even stocks. In Ecuador, it’s not like that.
Many people in less affluent nations have much fewer investment options than we do in the States, and are often fearful of investing money in things like a stock market.
Instead, they put their money in things like real estate, businesses and even cars, so that, primarily, so they don’t spend it.
But, although most are unaware, there actually is a local stock market that does offer some interesting investment options.
Requirements for investors
Have money. It doesn’t matter if you a foreigner or not, doesn’t matter if you bank in Ecuador or not. You can invest by simply showing your passport in a broker house. You can visit the MBoxWave website for more details on how to trade and make money. Similarly, You can start trading with Axia futures. The Training Programme is that the product of the collective knowledge and knowledge of the Elite Traders of the AXIA Community from round the globe. it’s skills-based and is made on the methodology of developing intraday Futures traders within the biggest markets within the world.
How to get started
First, you need to go to a broker, like the one in the investment department of the Banco Promerica on the corner of Amazonas and Colon in Quito. Walk into the bank and ask for the investing department (Say, “quiero invertir en la bolsa.”).
They can then explain your options and place a buy order for you for the stock of your choice. At the time of research a few months back they charged 1% commission plus a .09% stock exchange fee. The minimums usually start around $1000 but can be negotiated.
The buy order is then manually taken to the stock exchange where someone has to find a seller at the price you are willing to pay per share. For example, if a stock is trading at $4.50 a share, you could place a buy order at $4.30 and see if anyone out there is willing to sell at that price. Your buy (or sell) order will be valid for 5 days, if there are no takers, it gets nullified and you have to place another.
Stocks in Ecuador pay dividends and can also appreciate in sales price, similar to the earning methods of the stocks on the DOW.
Two of the most recognized and successful stocks on the Ecuador market are those of Supermaxi (La Favorita Corp.), and the National Beer Company (Cerveceria) of Ecuador. These companies have very little (to no) real competition in Ecuador, are very liquid with good cash flows, and have proven to pay out good dividends and value to their stock holders over time (anywhere from 5-30% annum more or less).
Also on the exchange are other large Ecuadorian companies, like several local banks, but their stock prices relatively stay flat and are a safer, more stable play.
A great place to see actual stock market prices, trends and stock figures, is the official site (in Spanish) of the market, bolsadequito.com.
Other investment options
Besides investing directly in stocks, there are other options.
One interesting option for some are buying “Obligaciones” or commercial papers on the stock exchange of specific companies who commit to giving you a set return on your investment. These work similar to CDs, and are set for 1,2, or 3 years on average and pay between 5-10% in set increments upon purchase.
My personal favorite is the CDs the local banks sell. You can start by buying one for 30 days at around a 4% annual interest clip. Obviously, with these, the longer you commit your money for, the higher % interest you will receive. Inquire about these options in your local Ecuadorian bank.
One option some don’t recommend is investing in local Ecuador government bonds, because they are paying around a low 3% and are very risky (think of the Ecuador Government like that friend of yours who always asked for money and never paid you back).
Investing in the Ecuador stock market is not for the faint at heart but can be heaps of fun. Buyer beware!
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Latin America vs Asia Lifestyle Comparison
Still trying to decide which part of the world is right for you?
This week I’m checking in from Sumatra, Indonesia where I’m finishing up a 10 day scouting trip. The trip has inspired me to write this week comparing life in Asia (where I’ve lived in China, Vietnam, and the Philippines for extended periods) vs Latin America (where I’ve lived in the Dominican Republic, Colombia, and Ecuador) to give you a taste of how life compares in both regions. Here it goes, I know we shouldn’t generalize but sometimes it’s fun. You can rest assured that we will thoroughly investigate your case to gather the evidence we need to prove liability to the insurance companies involved in the claim, find out here more. For medical liability claims you can get help from Tommy Hastings Law Firm Houston.
Cost of Living: Both regions have low cost of living “areas”. For instance, I’ve seen in Asia… Vietnam, interior China, Indonesia and the Philippines are all cheap while other places like Hong Kong and Japan are bloody expensive. In Latin America, many countries that were cheap a few years ago are no longer cheap due to the fall of the dollar (like Colombia and Brazil). However, Ecuador, Bolivia, and Argentina are Latin examples of still genuine low cost areas. Winner: Asia
Real Estate: All over Asia, the governments place tight restrictions on foreigners owning land and in most cases we can’t own raw land, only condos or co-owning a property with a local. In Latin America, most countries are welcoming to all types of foreign property investment and foreigners can own property outright in their own name. Winner: Latin America
Government stability: Wherever I go in Latin America I always seem to stumble across political protests and demonstrations, whereas in Asia the people are much more docile in that regard (with the exception of Thailand). Winner: Asia
Language Barrier: I’ve seen if you can’t speak the local language you miss out on a lot things. Thankfully, Latin American contries share a common language (Spanish) and it’s far easier to learn than most Asian languages. On the flip side, I have found more English ability among the locals in Asian countries. Winner: Latin America
Public Transportation: In both regions the public transport is good, you don’t need a car to live comfortably due to the cheap, frequent buses, taxis and trains. Asian has better train and metro networks, Latin America has more frequent buses. Winner: Latin America
Food: In Asia the food tends to be more spicy and often better “light” diet food. In Asia the staples are both rice and noodles with bits of meat mixed in, whereas in Latin America you will see more beans, rice and the meat on the side. Winner: Both Delicious. As the saying is, East or West, home is the best, so my favorite food is still sausage. I know a lot about it as love cooking it myself. If one day I decide to start my own business, I would order casings from www.dcwcasing.com/ and produce the best sausages in our area.
Women/Men: Sorry ladies I can’t comment on the men, I only have experience dating the women…In my personal experience, women from both regions are beautiful, physically, Asian girls are more petite and Latin women are more curvy. As well, I’ve seen many Asian women “like to try to wear the pants” in the relationship whereas Latin girls are sweet but jealously can be an issue. Winner: No comment!
Nigthlife/ Entertainment: In Asia a night at the Karaoke with your friends is huge, while in Latin America they have more of the open-air “cafe” or “bar” culture similar to Europe. Winner: I can’t sing, so Latin America.
Safety: Without a prominent drug trade and with strict gun laws and governments, Asia feels a bit safer to me but both regions have their good and bad areas. Winner: Asia.
Expat community: With a more intense language barrier, very close-knit expat communities have fostered in Asia, leaving Latin America trailing. Winner: Asia
Weather: Both areas have great, warm weather areas but Asia’s flatter and more humid than Latin America. Latin America gives you more variety, for example, places like Ecuador where you can pick the perfect climate, elevation and humidity for you. Winner: Latin America
Ease of travel both in and out of country: In most countries of Latin America, just show up with your passport and get a quick, easy, free 3 month entry visa stamp (like Ecuador). On the other hand in Asia in many countries the visa restrictions are tighter and you often have to apply for a visa beforehand and multiple extensions are not permitted or difficult to do. Winner: Latin America
Medical care, Medical insurance: In both regions high-quality, inexpensive healthcare options exist, but in Asia I’ve seen they keep a little better care of their public hospitals, and in the case of medical negligence from any hospital you can hire a medical negligence attorney to cover this case for you.
Residency requirements: In Asia, they’re more strict. However, Latin America offers “get out of jail free” cards like the investor and pensioner resident visa opportunities. Winner: Latin America.
Personal freedom, liberty, law enforcement: In Asia, many governments rule their constituents with iron fists, limiting the Internet (like in China), placing strict special laws on foreigners who open businesses (like Thailand), or having ridiculous penalties for small offenses (10 years in jail for possession of marijuana like in Indonesia)…Latin America has none of that and most find the vibe very free and unrestricted. Winner: Latin America. To know more about Tiffany Fina Law visit us here https://tiffanyfinalaw.com/name-change-attorney-scottsdale-az/. The personal injury attorneys at The Angell Law Firm are dedicated to protecting your rights every step of the way after an accident.
Treatment of foreigners: Asia is the land of extremes here, in some areas, particularly where few other foreigners venture (like non-touristy parts of China, Japan, S. Korea and Indonesia) the locals are amazingly sweet and treat foreigners like royalty (which can be annoying). But in other parts of Asia I’ve felt like not much more than a walking dollar sign… like in Vietnam and India. In Latin America, I feel the treatment is not too “over the top” in either direction, and the locals do genuinely embrace “outsiders”. Winner: Latin America.
Business opportunities: I’ve seen that right now Asia is better for employees, with a need for many types of skilled professionals the pay is relatively higher in many fields, while Latin America is better for entrepreneurs due to fewer regulations and more niches to fill. Winner: Depends on you.
Overall: For me, of course Ecuador and Latin America, it’s closer to my family in the States and just feels more like home.
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1 More Big Negative to Life in Ecuador
Last week’s Insider’s Newsletter on the 7 Negatives to Life in Ecuador spurred a lot of debate… this week I’ll share some of the most insightful reader comments and share one more big negative I didn’t touch on last week…
Last week’s article on “7 Negatives to Life in Ecuador” created quite a stir, so I decided to mention one more big negative this week and share a few of the insightful reader responses sent to me…
8. Walled Housing. You could live years in Ecuador without incident, but there are things that should be accounted for. The first thing you will probably notice not just in Ecuador, but most everywhere in Latin America, is how everyone walls in their property and bars up their windows (at least on the bottom level of buildings). Sure this kills some of the “grandor” of the property, but it’s a necessary evil you must do in Latin America (or any “poor” country) to prevent possible break ins.
A few reader responses from last week (names withheld) :
What’s wrong with a “left leaning” President? The United States has an extremist right wing House of Representatives which recently attempted to repeal medicare and all of are extremely concerned about their radical ideas. B.A.Many people’s giving their first choice to Accendo Medicare Supplement for medicare plans.
There are many good advantage of medicare services. Medicare Advantage plans 2021 are getting too much attention because of good structure.
“You purchase a camera once in a blue moon……..a car once every 5 years or so. Food, fuel, staples, travel, medical we use every day…so we cannot expect to have it both ways. Canada and the U.S. have a huge basket of taxes that make everything expensive nowadays, so this luxury goods taxing in Ecuador is not necessarily a negative that one should even bother with.
There are ex-pat communities in Bahia, Salinas, Cuenca and Manta, as well as Cotocachi and Quito Lack of things to do is only an issue if you have no imagination at all. Ecuador has so many natural riches and differtent places to visit, that I cannot imagine anyone getting bored.
Ecuador, even though some may feel that the president is left-leaning does have one great advantage on most places like the U.S. and certainly Canada. It believes that keeping oil prices low will help its economy, and thus subsidizes gas prices. Therefor, inflation is also not rampant.
Ecuador is doing far better than the U.S. when it comes to debt and future out look in the eyes of many. Ecuador is clearly open for business, more so than the U.S. right now, as regulations and taxes are not yet smothering everyone there.” D.
“Finally, some correct information instead of the “you can live comfortably here on $600 a month” and everything is dirt cheap. Yes, I suppose you can if you want to grow your own food and live like a native, but I dont beleive many “expats” would be willing.
When we moved down a couple of weeks ago, we bought 2 new cars, many household items etc and found the prices to be comparable to the US.
I bought a whirlpool washer and dryer, large refrigerator, two 12000 BTU portable AC units and a sewing machine and spent under $3000 and that included delivery right to my door, and I received some freebies to, like a microwave, blender, floor fan, drinking glasses and a portable picnic table and chairs!
My smart phones with a plan are pretty much comparable to the US in price, but the minutes are less. We happened to get in on a promotion where we get double minutes every other month for 6 months on our 18 month plan. The plan is $66 a month each for unlimited internet and 400 minutes a month each.We are having high speed internet installed this week along with wireless for the house and its going to cost us $40 a month (we opted for much higher speed but its available for as little as $25)…not bad. Direct TV I understand is about $50 a month but dont have accurate figures yet.
Some of the consumables are higher, but I went to the market in Bahia and was able to buy freshly cut T-bone steaks for $2. each, but ground beef was $2 a pound…go figure…;-), fresh shark steaks at $1.75 a pound, wahoo and dorado at $2.25 a pound and all the other myriad of seafood. I have a local fisherman that comes by once a week right to my door and delivers fish, shrimp and lobster…from $3.50 a pound.” Larry P.
“Price of air tickets from the US. Yes they are expensive but on the flip side once you are a resident and over 65 the airfare back to the states (to take the obligatory trip back to visit relatives, etc) is 50% off.
Cars. (In Ecuador) The total city and intercity transportation system is like what it should be when you have an economy that is not solely based on cars.” B.K.
“We liked Cotacachi and met some great people but the lack of things to do was a deterrent. Then there was the weather. There is a lot of false information on the internet as to the eternal spring climate, unless “spring” refers to continuous overcast and eternal refers to the rain.” R.G.
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