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Why Moving to Ecuador Isn’t as Hard as You’d Think:
There’s no doubt that a move abroad is a big step and a life-changing decision, but it can also be a fun adventure full of exciting new possibilities. Magnificent tropical fauna, a laid-back lifestyle, and endless outdoor opportunities are just a few reasons why this South American country is a destination that shouldn’t be overlooked. Living abroad in Ecuador is not as hard as it may seem. In fact, it’s one of the easiest countries for European and American citizens to relocate to. Here are the top reasons why:
Immigration:
Getting in and out of Ecuador is easy; there are no hard and fast commitments required and no visa is needed. Yearly, visitors are given 90 days via a tourist (T-3) visa. If you decide that you need a longer stay, within a year, go to an Ecuador consulate in your home country and apply for the 12-IX visa. Often referred to as the Tourist, Commercial or Sports Visa, this allows you to stay in the country for up to 180 days in a year. If you are planning to apply for permanent residency, you are required to have the 12-IX visa when you file your application.
The US Dollar:
Ecuador’s Law of Economic Transformation, made the U.S. dollar the nation’s legal tender in 199.. Since the adoption of the dollar in 1999, the country’s economy has been quite stable, compared to 1980’s 1990’s. Inflation is low, and prices remain low - especially compared to the cost of food, housing, and utilities in the United States.
The People:
Ecuadoreans are some of the friendliest people on Earth and make everyone feel welcome.
Low taxes:
As Benjamin Franklin once said, “in this world nothing can be said to be certain, except death and taxes” and this is true in Ecuador. People may be a little surprised when they dine out, that the bill will include a 12% tax and 10% tip fee. The difference is that your meal will probably cost considerably less than you are used too.
Taxes do exist. That is a universal truth, but they are so much lower. International residence only have to pay taxes on income earned in Ecuador. Taxable income includes income earned from a business, from employment, some capital gains, income from renting out property and interest earned on savings. There are a number of allowances that individuals can claim when they file their tax return (declaración de impuestos), such as donations to charity, interest on certain types of savings and reasonable work related expenses.
There is a property tax (impuesto sobre la propriedad) which ranges from 0.025% to 0.3% for a rural property (based on the value of the property) and 0.025% to 0.5% for those in towns and cities. There are some surtaxes which are set by the local authority and will vary depending upon the area you are in. The reality is that you will be paying a lot less in taxes for real estate.
There are far more reasons than you think.....................
Why would anyone move to Ecuador?
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