Requirements for Residency by Investment in Eco-Lodges in Ecuador
Overview
Ecuador offers a Residency by Investment program that allows foreign investors to obtain residency in the country by investing in an approved eco-lodge. This program is designed to promote sustainable tourism and economic development in Ecuador’s unique and diverse natural environment.
Eligibility
To be eligible for residency by investment in an eco-lodge, applicants must meet the following requirements:
- Be at least 18 years old
- Have no criminal record
- Be in good health
- Have sufficient financial means to support themselves and their dependents
- Invest in an approved eco-lodge in Ecuador
Eco-Lodge Requirements
To qualify for the residency program, the eco-lodge must meet the following criteria:
- Be located in a designated tourist destination in Ecuador
- Be certified as an eco-lodge by a recognized international organization
- Offer a minimum of 10 guest rooms
- Have a minimum investment of $200,000
- Create at least 10 new jobs for Ecuadorians
Investment Process
To invest in an eco-lodge, applicants must follow these steps:
- Identify an approved eco-lodge: Research and contact eco-lodges in Ecuador that meet the program requirements.
- Negotiate an investment agreement: Negotiate the terms of the investment, including the purchase price, ownership structure, and management arrangements.
- Obtain investment approval: Submit the investment agreement to the Ministry of Tourism for approval.
- Make the investment: Once the investment is approved, make the required payment to the eco-lodge.
Residency Application
Once the investment is made, applicants can apply for residency by following these steps:
- Gather required documents: Collect the necessary documents, including a passport, birth certificate, police clearance, medical certificate, and proof of investment.
- Submit application: Submit the application and supporting documents to the Ministry of Foreign Affairs and Human Mobility.
- Interview and background check: Attend an interview and undergo a background check conducted by the authorities.
- Approval and issuance of residency visa: If the application is approved, applicants will be issued a temporary residency visa valid for one year.
Permanent Residency
After one year of temporary residency, investors can apply for permanent residency by demonstrating that they have maintained their investment and complied with the program requirements. Permanent residency grants the holder the right to live and work in Ecuador indefinitely.
Benefits of Residency by Investment
Residency by investment in eco-lodges in Ecuador offers several benefits, including:
- Residency in a beautiful and diverse country
- Access to Ecuador’s healthcare and education systems
- Opportunity to live in a sustainable and eco-conscious environment
- Potential for financial returns from the eco-lodge investment
Additional Considerations
- Language: Spanish is the official language of Ecuador, so applicants may need to learn basic Spanish for effective communication.
- Cost of living: The cost of living in Ecuador is relatively affordable, but expenses will vary depending on lifestyle and location.
- Taxes: Residency by investment does not exempt investors from paying taxes in Ecuador.
- Visa-free travel: Ecuadorian passport holders enjoy visa-free travel to over 90 countries, including the United States and Canada.
Conclusion
Residency by investment in eco-lodges in Ecuador is a unique opportunity for foreign investors to obtain residency in a beautiful and sustainable country while contributing to its economic development. By meeting the eligibility and investment requirements, applicants can enjoy the benefits of residency, including access to healthcare, education, and the potential for financial returns.