5 Easiest Second Residency Programs to Secure in 2024.
Obtaining a second residency is a strategic move to increase global mobility, diversify investments, and create a safety net. The...
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Ecuador
Overview
Ecuador is located in the western corner at the top of the South American continent. Ecuador is named after the Equator, the imaginary line around the Earth that splits the country in two. Most of the country is in the Southern Hemisphere.
Ecuador is roughly the size of Colorado and is bordered by Colombia and Peru. The high Andes Mountains form the backbone of the country. Cotopaxi in the Andes is the highest active volcano in the world.
The Galápagos Islands, 596 miles (960 kilometers) west of the mainland of Ecuador are part of Ecuador and are home to unique reptiles, birds, and plants. The Costa, or coastal plain region is where many of the world’s bananas are grown. The Sierra is also made up of farmland. The Oriente is east of the Andes and is rich in oil.
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Minimum investment of $80.000
Acces to one of the most attractives economies in South America
An economy based of exports of petroleum, bananas, shrimp, flowers, and other primary agricultural products
Possibility to apply for Citizenship after 3 years of residency
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Investment options:
Ecuador investment visa requirements: eligible investments
Among the Ecuador investment visa requirements you will have to meet are minimum investment requirements. As such, you will need to be able to present at least one of the following pieces of evidence: • A title, policy or certificate of deposit with a minimum term of seven hundred and thirty days, issued by a credit institution recognized by the banking authorities of Ecuador of a minimum amount $40,000 (all figures in USD). • A deed of ownership of a property with a minimum value of $80,000 that is located in Ecuador and is registered in any Property Registry within the country. • Shares in an Ecuadorian company, with a minimum value of $10,000. • Copy of public deed of an investment contract signed with the Ecuadorian State, and which is in force. • Copy of a delegated management deed signed with entities of the central or decentralized autonomous governments, and which is in force.
Officially referred to as the Rentista for Remote Work Visa, this visa is excellent for remote workers and digital nomads who are looking for a change of scenery. Ecuador’s digital nomad visa allows remote workers to live in the country for up to two years.
With a low cost of living and a high-quality lifestyle the applicants can also bring their spouses and dependents with them to Ecuador with this visa. Another benefit is that,Those who obtain the Ecuador digital nomad visa will not be liable to pay tax on income earned outside of Ecuador too.
Digital Nomad Visa
Requirements include:
- Valid Passport: Your passport must be valid for at least six months when applying.
- Work Remotely: You must work as an employee, freelancer, or own a business located outside of Ecuador.
- Earn $1,275/month: You must meet the minimum income requirement, which is 3x the basic salary in Ecuador.
- For each dependent, the income minimum increases by $250.
- Health Insurance Coverage: You must have health insurance coverage in Ecuador.
- Clean Criminal Record: You must not have any marks on your criminal record.
Steps to follow
Step 1 - Preliminary Check:
Our specialized team will review the documentation submitted to verify that the immigration requirements are met. In addition, we will verify the transparency of investment funds. As a result, we will have a background check report and signed contract.
Step 2 - Choose of Investment:
You must select the investment option that most convinces and suits you, so that later we can start the process. If you decide to obtain residency through real estate investment, we will help you choose your property based on your needs and desires.
Step 3 - Preparation of documents and sending to the corresponding agency:
We take care of everything: we obtain the criminal record certificates, we fill out and complete the government forms, we certify the documents before a notary, we do the translation and apostille everything (this service has a separate cost), and then we send it to the residence. We present your documents independently and with strict compliance with the requirements, as well as monitoring the progress of the application. As a result, we will confirm the receipt of the documents by the government.
Step 4 - Due Diligence check:
Once the residency agency receives all the documents, the applicant's background check begins. In the event that additional documents are required during verification, we will handle those requests.
Step 5 - Case Investigation:
We look forward to a positive resolution and receive the new documents together with you. If necessary, we can also help you with other operational, commercial and even domestic matters (including the arrangements of additional documents).
Step 6 - Receiving residency:
When the investment and all fees are paid, you receive the certificate of residence. Then, these documents are sent to you, so that after the wait, you can start enjoying them.
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FAQ
Does this residency allow me to obtain citizenship?
Yes, you can apply for Citizenship after 3 years of residency.
For how long will I have the residence?
The residence permit is for 2 year.
What documents are required?
• A completed application form with a photograph. • A copy of your passport. • Documents that prove your income is legal. For example a employment contract. • Certificates of no criminal records. • Health insurance policy. • Payment documents confirming the payment of state duties and fees. • Documents confirming the fulfillment of the investment conditions stipulated in the application.
Is Ecuador Safe?
Yes, the crime rate in Monaco is lower than in most European countries.
Is dual citizenship accepted in Ecuador?
Yes, Ecuador allows dual nationality without restriction.
With what currency must the residency programs be paid?
This residency program should be paid in dollars.
How strong is the Ecuador visa?
The Ecuadorian passport ranks 61st in the global passport ranking, providing its holders with an overall medium mobility score and relative travel freedom. Currently, there are 42 Ecuador passport visa-free countries.
How much is the processing time?
The processing time is for only 2 to 8 weeks.
Can the residence be purchased with an investment in Real Estate?
Yes, you would have to buy property with a minimum value of $80,000 that is located in Ecuador and is registered in any Property Registry within the country.
In what cases can my application be rejected?
Most of the applications are authorized, however there are some reasons why you may have difficulty with this residency. Such us: • Having criminal records. • Lack of documentation. • Do not meet the minimum time in the country.
The main applicant must go to Ecuador?
The whole process can be arranged without being present in the country.
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