The following documents must be apostilled in the country where they were issued. The cost factor of retirement is important, but it’s also advisable to pay attention to a country’s political climate. For pensioners, the country mandates a minimum pension or income of $800 a month, plus an additional $100 for each dependent. For instance, Ecuador offers retirees tax exemptions on certain utility and municipal taxes. In addition, though Ecuador offers low-cost living conditions, it’s nonetheless a developing country with economic and cultural differences. Can You Bring Dependants to Ecuador with Pensioner Visa? Ecuador’s varied regions offer a wealth of climate and lifestyle options. 1) $1700 for any Adult individual “Primary Applicant” (this INCLUDES all Ecuadorian Government Visa Fees) – $1500 for any Adult Dependent over 18 years of age (this again INCLUDES all Ecuadorian Government Visa Fees) – $750 for any Minor Child below 18 years of age (this once again INCLUDES all Ecuadorian Government Visa Fees) –– This pricing is 100% Totally … Investor Visa. Anyone applying for an Ecuador retirement visa has to have health insurance, at least during the period when the visa is being applied. This is what was formerly called the 9-I visa, but is now the 60-III. This makes the point that these programs change. Your final cost will depend on how many documents you have and how many pages each one consists of. COVID-19! Ask our Retirement expert. Social security letter of income or pension letter or the document that proves your guaranteed income for life. Income requirements for a Non Lucrative Visa are a relatively low ~$30,453/€25,816 annually, plus ~$7,613/€6,454 per each additional family member. Apply Online. An additional $100 of monthly income is needed … The country’s adoption of the U.S. dollar, along with its low cost of living, also affords expatriates many other benefits. Some countries make it difficult for foreigners, including or even especially retirees, to take up full-time residence (New Zealand and Australia, for example). Is the Retirement Visa Electronic or a Sticker Visa? Forum for Expats Living in Ecuador on Expat Exchange. Since 2010, Maité Durán has helped thousands of clients obtain permanent residency from around the world. And if you’d like to travel to other countries, Ecuador offers retirees 50% airfare reduction on international flights. UK citizens needing an Ecuador visa for retirement can request a UK criminal report online. A letter for travel insurance that covers 90 days (what you can get upon entering) should be sufficient. The Ecuador retirement visa or pensioner visa is by far the most common type of residency that expats apply for when moving to Ecuador. Keep in mind that they are in Spanish. There are 13 different visa options in Ecuador, but the vast majority of expats gain residence with a Pensioner’s visa. the original social security letter of income or pensions benefit letter, that has been apostilled, two notarized color copies of our passport. So you’ll want to keep this in mind when determining how to budget your Social Security benefit. Retirees are turning to other countries that offer low-cost retirement options. In fact, the earlier you begin, the more money you’ll have to enjoy life after employment. How Long is Retirement Visa for Ecuador Issued? How Much Do I Need to Save for Retirement? With its low cost of living, favorable weather conditions and free public insurance, the country could be right for you. How to retire in Ecuador: learn about cost of living,traveling thecountry with public transport, Internet availability and the Ecuadorclimate. A $66 monthly fee will entitle you to … Understanding the various visa options available to you is an important part of making your ultimate where-to-retire-overseas decision. For instance, if you’re looking for an inland city with favorable living conditions, you may want to consider Cuenca. Ecuador also asks for a criminal record for everywhere you lived in for 5 years or more. Topic posted by DebbieH. 60-III: Pensioner: For expats with retirement income this is usually the preferred option since it requires no major capital investment. Dave Aug 14, 2018, 7:57 pm. The immigration authorities have access to online visa records. The steps to apply an Ecuador retirement visa can seem a little overwhelming with all the apostilling, translation and notarization. invest in a property and earn rent ……..and more, A recognized retirement income from the military, railroad, or anything else. All the new Ecuadorian visas are electronic, and no longer go in your passport. You can extend your visa for 90 days more. It must be a guaranteed income “for the remainder of your lifetime.” Examples are. Jim has run his own advisory firm and taught courses on financial planning at DePaul University and William Rainey Harper Community College. To qualify for a Colombia retirement visa, you must show that you have income of at least three times the minimum monthly salary in Colombia. But just how much money can you save for retirement? For the Ecuador Investor Visa, you need to invest $40,000 + $500 for each dependent (as of 2020) in an Ecuadorian bank Certificate of Deposit (CD) for at least 2 years, the duration of your Ecuador Temporary Resident Visa. Altitude sickness can be common for those adjusting to new elevation levels. Other countries, on the other hand, roll out the welcome mat, offering many, even … Things such as the country’s political climate, economic developments and health care policies are all important. For countries not under the Hague Treaty the retirement … It is a temporary residence visa that allows expats to settle in Ecuador for long-term and can be converted to a permanent residence visa as well. All Rights Are Reserved! While this could be advantageous for any retirees looking for an inexpensive place to settle, you should do thorough research before making the country your home. However, if you’re more interested in coastal areas, you’ll also have a range of cities to choose from. Now, if … As per the Ecuadorian constitution, residents have the same rights as Ecuadorian citizens. In 2017, the minimum monthly salary in Colombia is 737,717 pesos. Ecuador also gives retirees 50% off all public and private transportation, discounted electric and water bills, free local landline phone service and discounted tickets for cultural and sporting events. For example, if you have a social security income from the USA, you would need to get your income letter apostilled and then get it verified from a consulate of Ecuador in the United States. Many expats from the USA, UK, Canada, Australia, and European countries have used this visa to retire in Ecuador. Below, we explore some of the most popular cities for expatriates in Ecuador. The easy way to retire in Ecuador is to get your Retirement Visa in the US or Canada before you come to Ecuador. We have a few yrs before that happens so just in the planning research stage. 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