If you have started making your plans for retirement, one of the questions that you are probably starting to ponder is where will you spend your time after you retire. While some of your friends and family may be considering the warm, balmy weather of Florida, the cost of living there can still be quite high. You can have warm, balmy weather, and make the most out of your retirement dollars by moving out of the country. If this appeals to you, consider all of the benefits that Ecuador has to offer.

Why Ecuador?

From beachfront, to mountains, to the jungle, you can find all of that and more within a few hours drive in Ecuador. While some places are more off of the beaten path than others, most offers beautiful scenery, and inexpensive living. Does the idea of living well off of less than $20,000 for you and your spouse excite you? You can do this, and can even do it for less living in Ecuador. 

Although real estate is slowly making a comeback, you can find bargains in Ecuador that you cannot find in many other civilized countries throughout the world. You can find very nice Ecuador homes for sale, for less than a quarter of what you would pay in the average American retirement city.

For example: The average cost of a three-bedroom apartment in the middle of a city in Ecuador will run you less than $700 per month, and if you choose to live outside of the city, you can find them for much less. This is less than 14% of what you would pay in a city such as New York. Even with many of the groceries being imported in, you will still spend less than half of what you would pay in a large American city. 

International Living ranked Ecuador its number 1 place to retire in 1999, and this country continues to remain on its list of top 5. This ranking is not only due to the inexpensive cost of living in this country but it is also because of the rich culture, and standard of living that this country offers.

If you love fishing and water sports, you will find these activities there. If you want to spend your days on the golf course, you can do that as well. 

If you are worried about health care as you age, the heath care providers located there show high levels of skill and competency, as well as possess modern equipment for diagnosis and treatment. 

Why Purchase Property?

Unlike many foreign countries, Ecuador is trying to recruit people to move into their country. To get this done, they try to make purchasing property easy. This means that they give those just coming into the country almost equal footing when executing real estate deals. While as an immigrant they do sometimes have special rules. For example: you may have to get permission to purchase a property that is within 50 kilometers of the coast, permission is usually granted. 

The advantages of purchasing property in the country over renting is that owning property in the country will give you an advantage when you choose to apply for your permanent resident visa. It will help to qualify you for an Investor Visa 9-11. The requirements of this visa is that you will are invested in property, or in a certificate of deposit, or bonds. There are five other types of visas to consider:

  • Pensioner Visa 9-1 - If you choose to apply for this visa, you will be required to show that you have at least $800 per month, plus $100 for each of your dependents coming in from a stable source such as Social Security.
  • Industrial Investor Visa 9-111 is for you if you choose to continue to work in export in the areas of industrial, livestock, agricultural, or international trades.
  • Agent Visa 9-IV - If you choose to establish a company in Ecuador, you may be able to apply as an authorized agent for your company.
  • Professional Visa 9-V - If you are a professional who does not mind having your credentials re-validated by an Ecuadorian university, this may be the way for you to get your permanent visa. 
  • Dependent Visa 9-VI - These visas will be issued for blood relatives of Ecuador citizens, or for your dependents once you become a legal resident.

The receipt of any of these will allow you to remain in Ecuador permanently. Until then, you will need to ensure you take the steps to keep your temporary visa in good standing.