ECUADOR
Ecuador is a small Andean South American nation that is within the financial and visa grasp of most middle class American retirees. People are drawn to the pleasant, year round spring-like climate of Quito, the capital, and Cuenca, a beautiful, colonial city. There are also coastal areas, though they are not as popular with expats. Ecuador dollarized their currency in the year 2000 and this made the country more expensive for Americans, but it is still firmly in the lower cost category.
The political situation is in a state of change right now, but that is nothing new in the history of Ecuador. Ecuador has caught the eye of many expats and potential expats for its slower paced lifestyle and also some remarkable real estate values. Ecuador is unlikely to gain the popularity of retirement destinations like Mexico and Panama, and is another choice for the more adventurous among us.
As far as visas, contact the nearest Ecuadorian consulate in the US for the current specific requirements. The application process general is done through the Ecuadorian consulate in the US. Americans can visit Ecuador as a tourist with no visa at all for 90 days but due to rules restricting people from staying the entire year as a tourist, if you want to stay permanantly you will need a visa (not a tourist visa). Americans can apply for resident status based on a pension income of 800 dollars per month (retired persons), a real estate or securities investment (perhaps as little as 25,000 dollars), or a cash deposit of funds in Ecuador. The specific dollar amounts required are of course subject to change and rulings of Ecuador immigration. In any case, the required levels are quite reasonable, which is great news if you are attracted to Ecuador.
Some downsides of Ecuador:
- Current political instability (keep an eye on the news and state department reports)
- High crime rate in Quito (pervasive poverty)—it is recommended not to walk at night (take taxis)
- Volcanic activity
Some immigration oriented links to check out: