Editor’s Note: “Resignation in Ecuador” is part of an ongoing series on overseas resignation. To see all the articles in the series, jump to the end.
Ecuador, a mushroom-shaped country located on the top of South America between Colombia and Peru, is known to expatriates for two things. Its rich nature (including the Galapagos Islands) and ease of visa process. As European countries crack down on relocation opportunities, golden visas become more and more expensive (for example, Greece), and retirees and soon retirees are seen in Latin America.
It is true that short non-stop flights between the US and Ecuador are not easy to get. Flights from South Florida (Miami and Fort Lauderdale) over 4 hours are the fastest options, but there are also direct flights from Houston and Atlanta. However, when they landed at a new home in Ecuador, a popular destination such as Cartagena in Colombia. Lima, Peru. And Costa Rica is nearby, so to speak. Ecuador’s charming capital is Quito, with its biggest city being Guayaquir. Located 40 miles from the Pacific Ocean, Frenetic Guayaquil is not the biggest option due to safety concerns.
Subscribe to Kiplinger’s personal finances
Be smarter, better informed investors.
Save up to 74%
Sign up for Kiplinger’s free e-newsletter
Remember profits and prosperity with expert advice on investments, taxes, retirements, personal finances and more – directly to email.
Profit and prosperity with the advice of the best experts – directly to your email.
(Image credit: Getty Images)
“A big attraction in Ecuador is the weather overall,” says Esteban Rivera, principal at Rivera Law Office in Minneapolis, Iowa City and Quito, Ecuador. “There’s no extreme weather. Even the coast is warm, but not over 90 degrees.” He also cites the cost of living “it’s much cheaper than the US” and the warmth and familiarity of people. “People are very kind to tourists and foreigners.”
“Ecuador is the size of Colorado, and within that region it is a country of megadiverse (one of the 17 megadiverse countries in the world). You drive for two hours and you’re in a completely different landscape,” says Rivera. “The snow-capped mountains, the jungle and the Amazon River begin in Ecuador. There are beautiful beaches, native forests and kelp forests. From a natural standpoint, it’s amazing.” As Ecuador ranks as the number five in the world in terms of species, birders should see a lot. The 2.5 hour flight will take you to the Galapagos Islands from Quito. The Galapagos Islands are a legendary archipelago of exotic wildlife, like red-footed booby.
Where to land: the best place to live in Ecuador
(Image credit: Getty Images)
Like several other Latin American countries such as Costa Rica, certain Ecuadorian towns are known for their vibrant US expatriate communities. Rivera quickly mentioned Cuenca, and in fact the testimony highlighted on the company’s website was provided by a US foreigner living in Cuenca. “It’s the city of Highlands, the third largest city in Ecuador, and it’s beautiful,” Rivera says. The city of about 600,000 people “has really great weather,” Rivera adds, along with the robust cultural and social scenes of cafes, cinemas and museums. According to Rivera, Cuenca’s two-bedroom, two-bath condo will retreat from around $100,000 to $200,000, depending on the luxury of the building and whether there are amenities such as a swimming pool.
Since 1978, Kito has been on UNESCO’s list of World Cultural Heritage Sites for its laborious historic center. Some of these churches are gorgeous and gorgeous, including the San Francisco Cathedral and the Santo Domingo Church. The De Laciudad Museum is dedicated to the city’s history, and Quito includes the National Museum of Ecuador, a museum of colonial arts, and several other well-known museums focusing on contemporary art. Quito also boasts the Parque Metropolitano Guangulingagua, the largest urban park in South America. The wealthiest foreigners are drawn to the neighborhoods of Kumbaya and Tsumbaco, but the historic center and modern-day Repubrica del Salvador are also highly desirable.
Rivera says Beachcomands find everything they need in terms of amenities, such as cinemas, restaurants and shopping malls, if they want to settle down on the Pacific coastline, but says there are no specific towns that stand out as Expat Magnet.
(Image credit: Getty Images)
Visa and money are important
The range of visa types offered can be somewhat dizzy at first glance, but retirees can quickly appear in some suitable options. Visas based on such financial resources like pensions, Social Security income, lumps, investments, etc. – there’s something really for everyone.
Rentista Visa
For many retirees, Rentista Visa is the most appropriate option. Individuals must earn $1,410 a month from pensions or Social Security, which is three times the current minimum wage in Ecuador. That minimum is called Saralio Vasico Unified: $470 a month, but the minimum wage is affected by annual increases (quoting the 2025 number). The US dollar is the national currency, so there is no annoying conversion. Given the fact that the average monthly social security check is around $2,000, Ecuador has gained a reputation as a soft landing for retired US foreigners.
Temporary visa transaction
However, for those who have not raised pensions or have postponed Social Security, but still want to retire in Ecuador, the state offers several lump sum payments. All of these transactions are based on a minimum handover of 100 times the current minimum wage, totaling $47,000.
For the fideicomiso en effortivo program, individuals must deposit a minimum of $47,000 in cash in trust with a bank in Ecuador. Similarly, for an Inversionista en Póliza visa, the person must invest a minimum of $47,000 in the pension agreement.
For Inversionista en Bien Raiz Visa, Expat must invest a minimum of $47,000 in real estate assets. Those who have studied Golden Visas in Europe are familiar with this requirement. I bought a house and met the requirements. “If they buy a house or a condo, then “usually the price is sufficient” to meet the requirements, Rivera says.
(Image credit: Getty Images)
Other visa options
The lesser-used pass – Inversionista en Acciones – involves investing $47,000 in the company’s stocks. Other options include visas provided to religious workers and full-time employees in Ecuadorian companies. Familia visas for Ecuadorian citizen parents, children, siblings, or people with a common law marriage partner. And for those who simply have university degrees, one amazing path for those called professional visas.
“Most people applying for these visas offer Social Security letters and show that they collect at least $1,410 or more per month,” Rivera says. But “If my client has a university degree, the most common thing my client does is a ‘professional’ visa, but if he doesn’t have a university degree, he does a real estate investment or a trust investment. “There is no proof of the funds, deposits, or income required to secure a professional visa, but you must have the documents in the order of diploma, transcripts and proof of earning directly, rather than online.
How to get started
Rivera does not need to be in Ecuador to apply for a visa. Rivera says that rent-stabilizing visas are probably the fastest. He says that for anyone wanting to explore the country, the country’s 90-day tourist visa offers plenty of time to lock things up. “Usually you can get a visa within 90 days. I have a bilingual team in Ecuador and we will handle everything.” After 21 months in the country, I can apply for a permanent resident visa (PRV).
Finally, Rivera says that private health care in Ecuador is of high quality, and that both parents are doctors working in excellent hospitals. Health insurance is a must in Ecuador, and Rivera says one of his clients, a 65-year-old man, will pay about $150 a month.
(Image credit: Getty Images)
Living in Ecuador: Take home
Ecuador boasts colonial charm, but it has modern conveniences. That being said, you are not far from the spectacular nature of diverse natural ecosystems.
The expatriate communities, particularly established in Cuenca and Quito, help to make relocation seamless, as well as low cost of living. Also, a menu of retiree visa options created to accommodate almost every preference and financial situation.