Ecuador Residency, Citizenship Passport Program

Business

  • Author Aurelia Masterson
  • Published December 19, 2010
  • Word count 696

Executive Summary – Ecuador has a residency plan that leads to a citizenship in 24 months.

Time Frame – You have to go to Ecuador to apply. One needs to remain in the country 4-6 weeks to be granted the residency. One need not remain in the country the entire time but a residence needs to be maintained and one needs to be in Ecuador a portion of the time. You cannot just come in for a few days each year. After two years of residency one can apply to be a citizen of Ecuador. Citizens have the rights to a full Ecuador passport.

Economic Consideration – The program requires that $25,000 be deposited in a Ecuador bank for the two years. The account can bear interest and can be used to collateralize say an auto loan. You could also buy land, or a home of equal value. You also will need to show income of approximately $1000 a month from any source. It does not need to be from a government retirement source.

Legal Fees – The legal fees for the residency run $9000, complete. If you wish to have a consultation appointment in person you would need to go to the affiliate law offices in Ecuador. This is done after a $2500 retainer is sent by wire transfer. We cannot book a consultation appointment until we have received the $2500. We cannot accept a payment that is brought with you. We do not take checks, or credit cards. If you proceed with the residency within 30 days of the consultation the $2500 is fully applied towards the fees. If you do not proceed with the residency the fee is considered earned. To book an appointment we require a scan of a passport. This has to be the same passport that you will enter the country on and also use to register at the hotel. This will be verified. You cannot enter on one passport and then present another passport. Entering the country on the passport means you have no problems with Interpol. You will need a hotel. The hotel will arrange a shuttle bus to collect you at the airport. Our security procedures and protocols are designed to protect you and your residency from those that do not have your best interests in mind.

Documents – You will need to obtain a police record from your local or national police agency. This should be from a country you have resided in for the last two years. You will need a birth certificate for all parties coming in under the program. If you are married you will need a marriage license. All of these documents will need to be certified by the Ecuador Embassy in the country that issued the documents. If you are born in one country and married in another country then you will need to use two Ecuador Embassies to certify these documents. Children over 18 are generally not considered dependent children unless there are extenuating circumstances such as a severe disability requiring the person to be dependent on the parents for life.

Ecuador Passport – The passport is good for six years. It allows for visa free travel to many nations but not the EU. Here is a link where you can see a list of the visa free countries:

Visa requirements for Ecuadorian citizens

Andean Community of Nations – Ecuador is in the Andean Community of nations along with: Bolivia, Columbia and Peru. The Andean Community has a pact with Mercosur. Mercosur consist of : Argentina, Brazil, Paraguay, Uruguay and Chile. You Ecuador residency card would allow for visa free travel without a passport to the other Andean and Mercosur countries. The airlines will generally require a passport but you could travel without a passport by foot, bus, car, private plane or boat.

Discussion – This program allows one to cost effectively obtain a second passport and citizenship. While it does take two years to realize the citizenship/passport the cost savings is significant. We get reports of economic citizenship programs costing hundreds of thousands of dollars taking nine months. This takes an extra 15 months and you would be saving $20,000 for each month you wait. It is cost effective.

Questions – Call, email or chat.

http://www.panamalaw.org

Aurelia Masterson writes for http://www.panamalaw.org

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