Ecuador often makes headlines for gang violence, but in reality, this issue is largely confined to specific areas; it’s a vast country.
Areas that are calm are totally fine.
Why Ecuador?
- Very easy to get residency – even a term of deposit of just $47,000 is enough, or just having a university degree
- Affordable living and healthcare
- Active expat communities
- Low taxes if structured properly
and importantly, there is A LOT to do.
Unlike typical destinations such as Panama and especially Paraguay where activities are a bit limited, Ecuador has it all:
- Amazon jungle
- Gorgeous colonial architecture
- Stunning beaches and surfing
- The Andean mountains with limitless hiking and trekking
- The famous Galapagos islands
It’s no surprise that so many people move there, especially for retirement.
The downside is that obtaining permanent residency takes a lot of time on the ground (you can be out of the country for no more than 90 days in two years). But if you are not too focused on this, you can just get temporary residency and renew it every two years, which is what a lot of people do.
Also, the economy is sluggish. They just live off commodities and tourism. Nobody seems to have much drive in the country. It makes for great retirement living, but for people who want to witness growth and entrepreneurship in action, this is not quite the place.
Having said this, I really enjoyed my time in Ecuador, and it’s a very decent option for some people.
I discussed how to obtain residency and citizenship in Ecuador with Sara, my attorney there.
Click here for more information on how to obtain residency in Ecuador and to connect with Sara.
To a World of Opportunities,
The Wandering Investor.
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