Immigration Club®: immigration, naturalization, second passport, EU citizenship, USA passport

802 West Georgia Street

Vancouver, British Columbia V6C 3H1

Tel. (877) 256-3754

15.05.03
Special offer
For Asian, Middle East and other applicants with poor visa-free travel opportunity wishing to live and work in Europe:
easy immigration and relocation in Switzerland.

more

24.03.04
Special offer
For citizens with poor visa-free travel opportunity wishing to reside in European Union.

more

Ecuador Through History. Economic Overview.

The "Republic of the Equator" was one of three countries that emerged from the collapse of Gran Colombia in 1830 (the others being Colombia and Venezuela). Between 1904 and 1942, Ecuador lost territories in a series of conflicts with its neighbors. A border war with Peru that flared in 1995 was resolved in 1999.

Ecuador has substantial oil resources and rich agricultural areas. Because the country exports primary products such as oil, bananas, and shrimp, fluctuations in world market prices can have a substantial domestic impact. Ecuador joined the World Trade Organization (WTrO) in 1996, but has failed to comply with many of its accession commitments. The aftermath of El Nino and depressed oil market of 1997-98 drove Ecuador's economy into a free- fall in 1999. The beginning of 1999 saw the banking sector collapse, which helped precipitate an unprecedented default on external loans later that year. Continued economic instability drove a 70% depreciation of the currency throughout 1999, which forced a desperate government to "dollarize" the currency regime in 2000. The move stabilized the currency, but did not stave off the ouster of the government. Gustavo NOBOA, who assumed the presidency in January 2000, has managed to pass substantial economic reforms and mend relations with international financial institutions. Ecuador completed its first standby agreement since 1986 when the IMF Board approved a 10 December 2001 disbursement of $96 million, the final installment of a $300 million standby credit agreement. In February 2003, newly installed president Lucio GUTIERREZ faced a budget gap and massive foreign debt. He has pledged to use oil revenues to pay off debt and is seeking additional IMF support.

Ecuador Immigration. Background and Legal Considerations.

Foreign nationals are welcome to apply to settle in Ecuador and obtain resident status. Resident visas are approved by the Immigration Board in Ecuador. The documentation process takes at least 4 to 8 weeks.

There are a number of different resident visa categories, including:

10I Retired persons who receive pensions from their native countries (pension from a stable source, at least USD 8,000 per year).

10II Real estate and securities investors who are willing to invest in Ecuador the equivalent of at least 350 minimum monthly general salaries (S.M.V.G.), plus 100 SMVG per dependant, or amount specified by Consular Officer (in the U.S. at least USD 15,000).

10III Investors in industry who wish to export agricultural products, livestock, or minerals, provided they bring capital the equivalent of at least 600 minimum monthly general salaries to Ecuador, or amount specified by Consular Officer (in the U.S. at least USD 25,000).

10IV Companies with foreign local agents who possess unlimited power of attorney to represent the company in Ecuador, provided that 80% of the company's local personnel are Ecuadorian.

10IV Technicians or technical experts under contract with a company established in Ecuador.

10V Professionals with university degrees recognized by a national university, who wish to practice their profession in Ecuador. Should the applicant's profession not exist in Ecuador, the degree must be locally certified. The applicant must also fulfill the requirements for such practice (e.g. bar).

10VI Individuals economically dependent on spouses or on a bloodrelated family member (family).

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If you are intersted in any particular country or procedure - contact us for relevant application forms and requirements.

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