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Olon, Ecuador Beach Sightseeing

You have to watch this video, it really shows Olon Beach, Ecuador, how great its surroundings are…
This video is fresh news locally, it was recently made by the cast of a local TV show… hope you enjoy it and get to know a bit more of Ecuador’s Pacific Coast.

 

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Ecuador Visas and Residency Process

Ecuador Residence and Visa:

Obtaining your residency in Ecuador requires you to research and verify the accuracy of all information; also it might require some patience. The information below may be current at the present time but is always subject to change. For more up to date information you would need to contact your local representative of Ecuador Ministry of Foreign Affairs at your local Consulate of Ecuador.

It will be safe to hire a local Attorney if you do not speak Spanish; they will help you understand all the legalities required through the process while overseas or in Ecuador.

You would normally arrive on a Tourist Visa and get a T-3 stamp placed in your passport. This allows you up to 90 days in the country. If you are planning on staying longer than 90 days then seek advice from your local Ecuadorian Consulate. There you can apply for a 12-IX visa, or you could also apply for this visa while you are in Ecuador. Just don’t leave it until too late as these things take time in Ecuador, better get to it in the first 30 days after arriving in Ecuador.

You actually need the 12-IX Visa before you can apply for residency in Ecuador. It is a requirement that needs to be filed along with your residency papers. A resident visa allows you permanent residence and you can still travel outside of Ecuador. One really important issue is that you cannot leave the country for more than 90 days per year in the first two years of your residency; and after that you can only leave for 18 consecutive months while you have the Ecuadorian residency, by then you better apply for the Ecuadorian Citizenship.

There are several different visas that you can obtain and the one of the most used by retirees is the 9-I Pensioner Visa. For more details check the following link to Ecuador Foreign Ministry Office – Pensioner Visa Requirements

If you are considering investing at least $25,000 for one person then you can obtain a 9-II Investor of Real Estate Visa. Now this can be monies put into a CD or property.

Helpful links:

Embassies and Consulates of Ecuador in USA

Embassies and Consulates in CAN

Pensioner or Retirement Visa Requirements

The pensioner visa will entitle you too many of the retirement benefits in Ecuador except the right to vote.

For a 9-I Pensioner Visa, you will need to receive from a stable pension or trust fund a minimum income of $800 US. You will need to add $100 US for each dependent that you bring with you.

Senior Citizens Discounts and Benefits in Ecuador:

Ecuador still remains to be one of the best places in the world for retirees. It is one of the few countries in the world that allows you to enter with an automatic 90 day tourist visa, and it has great benefits for senior citizens.
The pensioner visa will entitle you too many of the retirement benefits in Ecuador except the right to vote.

For a 9-I Pensioner Visa, you will need to receive from a stable pension or trust fund a minimum income of $800 UD. You will need to add $100 UD for each dependent that you bring with you.

Under the 2008 Constitution, senior citizens receive prioritized attention, both in the public and private sectors, especially within the fields of social and economic inclusion. In accordance with Ecuadorian laws, senior citizens are those who are 65 years-old and over. (See Article 36 of the Constitution)

The Ecuadorian government guarantees to senior citizens the following rights:

  • Access to free health care and medication.50% discounts in public and private transportation services.
  • Discounts for special events such as galleries, theater plays and other related arts.
  • Tax exemptions.
  • Exempt from notaries and registration fees, in accordance with the law. (See Article 37 of the Constitution)
  • 50% off electric and water bills.
  • 50% off round trip international flights from Ecuador

Would these benefits/discounts be afforded to everyone, including American Citizenss whether resident or not?
The 2008 Constitution provides no distinction between foreigners and nationals regarding civil rights. However, according to “Ley del Anciano” (Law pertaining Senior Citizens), “the beneficiaries of this Act are those individuals who are 65 years-old or over, whether nationals or foreigners, who are legally established in the country (those who have Ecuadorian residency).”

If there are discounts/benefits, is there some sort of senior citizen’s card that is issued? If so, by whom?
According to the law pertaining Senior Citizens, Ecuadorian senior citizens are only required to present their National I.D. at the entity that provides the discount or benefit (such as a hospital, theater, when getting on a bus). In the case of foreigners, the rule is basically the same- required to present a form of I.D. (such as a passport, Ecuadorian National I.D., Ecuadorian Census card, etc.).

Who is the entity that is in charge of these benefits?
No particular entity, however a branch of government that is dedicated to raise awareness about senior citizens’ rights, among others, is the Ministerio de Inclusión Social y Económica.

Reference: http://ecuador.usembassy.gov/service/living-in-ecuador/senior-citizen-benefits-in-ecuador.html

Feel free to contact me for more references about Living in Ecuador: linalandivar@ecuadorservices.org

 

 

Ecuador – World’s Leading Green Destination

All lovers of nature tourism have in Ecuador an ideal country to find different ecosystems and natural wonders very close to each other. For that reason, it was awarded the World Travel Award for best Green Destination in 2013.

Ecuador world's Leading Green Destination 2014-03-25 16-48-10

 

 

 

 

 

 

 

 

 

 

 

 

 

With this recognition Ecuador was paired with destinations as: 2012 – Machu Pichu, Peru; 2010-2011 – Cousine Island, Seychelles; 2007-2009, Tobago Main Ridge Rain Forest; 2008 – Costa Rica.
The awards sponsored and directed by the prestigious Wall Street Journal, conduct their selection through a strict selection process which involved more than half a million travel professionals and consumers of direct travels (Selected Voyagers) from over 170 countries and all continents.

mapa

CONNECTIVITY: Reaching this beautiful country, Ecuador is simple, as it is located in a privileged place where you can enjoy four different worlds (Regions) within little distance from each other. Ecuador has enabled 27 airports in its different provinces.

 

Online source: http://www.ecuador.travel.com is an excellent website to get travel information and latest news about Ecuador – Text and Images from: http://visit.ecuador.travel/destinoverde/en

 

 

 

Tourism by TRAIN in Ecuador – Tren Crucero Ecuador

A new Touristic Train service is ready in Ecuador – Tren Crucero – following an investment of some $280 million, and the rehabilitation of 456 km (283 miles) of the country’s railway system. This amazing Ecuadorian Tour service aims at the high-end of the market that is ready to ride the rails.

The “Tren Crucero” will travel from the Guayaquil on the Coast to Quito, or vice versa, with overnight stays in traditional haciendas, and between visits to colorful indigenous markets, museums, towns, farms and national parks aboard the innovative carriages.

They offer 1 to 4-day adventure tours which will be an experience for all your senses. This will bring you into close contact with the Ecuadorian people and the landscapes of the Andes and Coastal regions. A once of a life time experience while riding aboard real comfortable custom-designed carriages – and, the train is using restored 20th-century steam locomotives.

 The route includes the dramatic “Devil’s Nose” segment which connects the Andes and the Coast, the main reason the Ecuadorian system is regarded as “the most difficult railway in the world”.

 The four thematically-styled carriages will carry 54 guests through different fascinating regions, people and culture. Two of the four carriages are furnished with tables and chairs where guests can enjoy a light aperitif, read a book or simply enjoy the scenery picturistic view through large windows. One of these coaches is equipped with personal lockers for storage, while a fourth one offers a coffee bar where the crew will serve beverages and snacks including Ecuadorian favorites.

 The last carriage of the Tren Crucero consists of two sections: the first with a lounge area for socializing, and the second with an open terrace where guests can travel viewing all the elements as the train winds through Ecuador’s majestic landscapes.

 Train trips includes: the train ride, overnights in selected hotels or haciendas, Ecuadorian meals in each region, guided excursions to main natural and cultural attractions, bilingual English/Spanish guides, excursions aboard a tourist bus.

 The crew who will assist guests on board has been hand-picked and trained to the highest standards in customer service. This team will be led by the Train Director, responsible for the train operators, guides, stewards and all service staff.

More Ecuador Travel info at Ecuador Services – Travel section

IMPORTANT NEWS: New Real Estate Regulations in Ecuador as December 2013

SUPERINTENDENCY OF COMPANIES REGULATIONS FOR THE OPERATION OF REAL ESTATE COMPANIES

 

Source: SUPERINTENDENCY OF COMPANIES

Resolution No. SC.DSC.G.13.014 of the Superintendence of Companies comprising the Regulation for the operation of companies that carry out real estate activities was published in Official Register No. 146 on 18 December, 2013.

In accordance with the Regulation, it is mandatory for companies whose corporate objective is real estate activity in any phase (promotion, construction, marketing etc.) and that receive money from clients in advance to delivering housing and buildings to comply with the following:

  • To own the land on which the project will be developed or to hold the fiduciary rights in the trust that owns the land.
  • To obtain the necessary permission for construction from competent public bodies.
  • To possess an economic budget for each project. This must include the duly assessed financial projection, estimated time of completion of the project, the sale price of each housing unit, and the parameters for achieving the break-even point and profitability.
  • To sign and comply with promissory purchase/sale agreements establishing price, payment conditions, closing date and deadline for signing the public deed, and to sign the final deeds of sale.
  • To follow the requirements of the Superintendence of Companies and comply with all provisions issued by it.
  • If companies carry out their activity through a Escrow Business Trust, they must also comply with regulations issued by the National Securities Council.

The Resolution also establishes that for the development of real estate projects that require “financial resources from promissory purchase/sale agreements for such project’s property units, before entering into the agreement a Fiduciary Escrow Trust must be created allowing a fund and trust manager to manage said resources”.

Companies who carry out real estate activity are, among other things, prohibited to enter into private preliminary reservation or promissory sales agreements; to sign more than one promissory sales agreement for the same asset; and to designate money from a specific real estate project to other real estate projects.

The Ombudsman will receive complaints regarding discriminatory or inequitable clauses, without prejudice to complaints made before the Superintendence of Companies and relevant legal action.

The Superintendence of Companies will carry out inspections to verify compliance with the current regulations by real estate companies. In the case of observations, the Company will have five days to give its view on the matter. If the Superintendence of Companies considers that the Company is involved in one or more grounds for intervention, it will proceed to “declare a state of intervention in the company and appoint an intervention supervisor”. The supervisor will issue a report regarding the general situation of the company. If the company cannot apply corrective measures to overcome a negative situation that presents risks to its clients, or if said measures are not complied with within the given deadlines, the Company may be declared dissolved.

December 19, 2013

A day on the beach!!!  is one of the best options to improve your life, retire by the Ocean in Coastal Ecuador.

You could find with us one of the best options to improve your life and make your retirement very satisfying. Check our brand new Free Ecuador MLS Service. Take advantage of our pre-sale prices, fill up our contact form or send us an email at linalandivar@ecuadorservices.org

Check Ecuador Free MLS Service web page ww.ecuadorservices.wordpress.com

All our projects are back up by a mix of local and international investors with a well established local construction tradition.

“Ponte once” beat the crowd! Before boomers start moving to Ecuador.

There is nothing unusual about the time 11:11 or the date 11/11/11, but our brains can’t help noticing the repeating digits, and seeing them as meaningful.

So while getting all this text messages about the great positive energies I was going to get at 11:11 am today the 11th of November 2011, my thoughts related this to a cute little Ecuadorian urban phrase “ponte once”, its literal translations is “ponte = put, once = eleven”, now the expressions real  meaning is “be aware”.

On one side, I thought it will be good to learn a cute local Spanish phrase on my blog,  but than,  I realized how realistic this phrase would apply to the hall world today.

Ponte once – our reality check should be to hurry to Ecuador and beat the crowd!

If you’re at all interested on Ecuador, I’d suggest you get a move-on. The mainstream media is taking note of the tremendous values this country offers.

Lately we are seeing a lot more information about this little tropical country. Most travel, retirement or living overseas websites have picked Ecuador as one of their top “biggest-value buzz-worthy” destinations. As they rightly point out, Ecuador is “under appreciated.” Not for long, we suspect.

Map showing ecuadorean territorial claims on P...

Image via Wikipedia

Now is the precise moment to invest in Ecuador just before the avalanche of baby boomers start searching for new locations where they could afford to live on their pension funds.

Beginning January 1st, 2011 every single day more than 10,000 Baby Boomers will reach the age of 65.  That is going to keep happening every single day for the next 19 years.

What is so appealing about Ecuador? Your dollar will go further than other overseas retirement destinations. Locally people in Ecuador are hoping to keep the rate of inflation low in the long run. In places like Costa Rica or Dominican Republic, the real price-pushers were the expats retirees who focused on beachfront areas closer to their homeland.

Today Ecuador is very accessible from the U.S. — you can fly direct from both Quito and Guayaquil to Miami, Atlanta, Houston, New York, and Atlanta.  Ecuador is an amazing, peaceful place with beautiful beaches, warm weather and really inexpensive beachfront bargains.

I will list some real facts to consider before making Ecuador your next overseas option.

Real Estate and property search:

  • Coastal properties found at bargain basement prices, since Ecuadorians don’t value beach houses the same way that Americans do.  They like to go to the beach twice a year during school breaks, stay in nice hotels, party and then go home to their big cities.
  • Real estate prices in Ecuador have risen slowly since 2000. This almost dormant market may be attributed to the government switched to the American dollar as their currency in that year. My experience from mainly working with local experts has been that prices have stayed the same in recent years with the exception of select areas.
  • House and condo rental rates are so cheap in Ecuador, it would be totally feasible to enjoy Ecuador without investing anything apart from your monthly expenses, thus reducing your investment risk dramatically.
  • Coastal Ecuador is completely out of hurricane paths, and also this is your best option if you’ve ever wanted to walk away from long, bitterly cold winters and brutally hot summers.
  • Foreigners could own property in Ecuador. You can buy directly from local property owners with nothing stopping you to do so. Search local real estate agents, preferably in person. Ask about their career background and their Ecuadorian real estate practices.
  • Purchasing costs are low, hire a well informed Ecuadorian attorney that handles contracts, title searches and visas, one that does it all. There sales commission is only paid by the seller.
  • Right now in the Ecuadorian market that commission on Real Estate goes around 3%.
  • Ecuador has one of the lowest investment requirements to obtain a residency visa of any country I’ve investigated. One way to qualify is to purchase a property valued at $27,000 or more.

Be aware of the following:

  • Mostly there are no licensed realtors and there is NO MLS or other listing agencies to help you on your property search.
  • Real Estate Agents are not licensed professionals in Ecuador, since there is no recognized national authority that governs the licensing process, set guidelines or handles complaints for the licensed agents. It is not likely to change any time soon.
  • There is no Multiple Listing Service; it is almost impossible to get online information for Real Estate in Ecuador, what you get mostly expats and gringos selling online. Just be careful, do your homework as there are many that will prey on an unsuspecting foreigner.
  • You do not need to search out an “English” speaking real estate agent. I think a better course of action would be to seek out a trusted local that will help you with the language so you can deal with Spanish speaking owners directly.
  • The increased exposure will push and turn Ecuador in to the next hotspot on the world´s beachfront real estate scene.
  • Places a long the coast still lack basic infrastructure, especially for retired expats, like good access roads and some basic services. You could get by with wireless internet, bottle water, fresh fish and market stocks.
  • The opportunity for rapid growth is due to a limited supply of property land.  The Ecuadorian coast is not that big and large sections of it are uninhabitable due to national parks or swamps.
  • In Ecuador, like most of Latin America, if the land is not in use, someone else could come “squat” on it, build, and claim it as their own.  It doesn’t matter if it is legal or not, it happens.  If you buy land, start building on it immediately.
  • Try to be present when constructing your house if possible.  If you are not around, you may have delays and cost overruns.  It is a fact in Ecuador that many construction workers will steal materials and slack off if you are not around to apply a little pressure and enforce the deadlines.

Next post will be on purchasing costs and the real cost of living depending on where you want to live in Ecuador. Also some other details that I may have missed out today.

Smile!!!! We found your new sunshine hub.

Guayaquil, the largest city of Ecuador
Image via Wikipedia
Ecuadorian ceviche, made of shrimp, lemon and ...

Image via Wikipedia

ECUADOR and Latin America, do we know why they have done better during our on going crisis?

The actual performance of the region’s economies is surprisingly strong particularly when compared to past crises. China’s sustained demand for the commodity exports of the region and the timely monetary action of the IMF liquidity provisions, are two external factors that are undoubtedly part of the explanation.

However, internal factors played a major role too including greater macro policy resilience and the financial sector reforms in most countries over the last decade. One over looked factor is the contribution middle class consumption has done to the region; Latin America middle class is not the stereo typical one, they will be closer to poverty class in standard societies, and they also have limit access to aggregate demands that will condition micro economic growth, therefore domestic demands have allow this economies resilient to global crisis.

Future challenges will be: to secure domestic financial development against political pressures for short-term gains, to pressure the local financial sector as a market player while maintaining sound lending practices, and to adopt real government policies to sustained macroeconomic stability.

As for our self, if we are looking for new horizons to develop careers or retire while still contribute to society; this country will be a great opportunity to put in action collaborative strategies for development.  A good starting point to contribute to real wealth and welfare should include strong education systems and investments in order to organize economics and promote better incomes distribution. Let´s make a better world for our next generations.

I will like to invite you to watch the following video

 

Showing a bit more of Ecuador…

First working day of the month of October and by reading most of my friends and colleagues e-mails, I am realizing that weather change is approaching. It is getting cooler up north, and we are getting warmer here in our tropical Coastal Ecuador.

I use to enjoy and welcome fall and winter, it meant slowing down, looking intro perspective, and start building and planning my next steps in life. But also, this reminds me one of the main reasons to be living in Ecuador with this nice hot warm weather.

Around the year 2000, when I was developing my professional path in USA and Latin America, some health issues interrupted all my wonderful working and travelling plans.

Within all the travelling options, one was to visit family in Ecuador. Once on my trip, I ended up checking the local health and medical resources because of a severe pain crisis (spinal discs problems). I was basically pain managing for a couple of years but came to that point that I needed surgery.

Let´s make this story short, it was my second back surgery, I had already one done in Canada with success. So without even thinking or making my health a priority in my future plans, I review all the options and opted for the best ones at that specific moment:

1.- My medical expenses were covered here in Ecuador by my insurance policy

2.- I could opt for top level doctors and hospital beds, since the rates were lower here in Ecuador.

3.- All international insurance companies have local referrals that are practitioners who have done their studies in USA or Europe, even award winners professionals.

4.- Since I was covering expenses directly, I did not have to wait on line for tests or MRIs.

5.- I could set up myself in a nice upper scale condo with house help for less than 1.000 US. (I need 3 months at least to be able to drive again)

I had the surgery by a recognized worldwide surgeon, a nice recovering period, fresh home made food and care, and I was keeping up with my pending working projects and connected to the world by the internet.

Maybe this is not an option for everybody, still you could always research medical options overseas. There are online medical referrals to consult your options even here in Ecuador.

I will leave you with some nice pictures of some of my personal adventures here in Ecuador. I was asked by one of my readers if the posted pictures are original, I would say mostly they are. At times, some pictures are from other sources which may narrow the certainty of their originality.

P.S. Due to my health issues cold weather doesn´t agree with me,  and in Ecuador, I am able to afford on going therapy and massages plus attend exercise classes like yoga and Pilates to manage my health as I am aging.

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Another great candidate for retiring, the Dominican Republic

There’s no shortage of wonderful locations in which you can retire in various parts of the world. It may be a good idea to take a look at the Dominican Republic and see what this region has to offer.

This is a region that is a feast for the eyes, with beautiful beaches, clear water, a wonderfully breezy environment and a lot more. But the reason why it is so popular is because it’s a place where you can live very comfortably for as little as $2,000 or even less.

Although people in the Dominican Republic seem to earn less money, amazingly they are able to live much better, and the pace of their lives is calm and unhurried than people in the United States. Why is that? Because the cost of living in the United States is astronomical compared to the cost of living in the Dominican Republic. Add to this the fact that on top of all the privileges you have living in this country, you can actually get 18% interest on your bank account – tax free! Who could ask for more?

There’s no doubt about it, Dominicans are in the enviable position of being able to live life to the hilt. Remember, your dollar investments here are earning high rates of interest, all of which is tax-free. This is a country that has one of the fastest growing economies in the world. And then, take a look at health care facilities here. You won’t be disappointed – they are as modern as you need them to be.

You may argue that there are other places in the Caribbean that are just as appealing. True enough, but the scope of the Dominican Republic for both the investor and the retired person remain unmatched.

Just wait! In few more days we will show you the best property options at this wonderfull destination, take a look in this video, and you will follow in love right away..

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