Expat Community > Ecuador

JP55301
Joined 2009
Posts: 737

EcuadorPresent political status

15 years ago

Hey people, I know Ecuador its very nice and the people are wonderful but you need to look at the reality of the present government that could end up hurting you specially if you buy any properties. Don't be fooled by sellers telling you everything you want to hear. The reality is that the president is very close to Venezuela's Chavez as well as Nicaragua's Ortega and as you all well know they are Socialistic inclined. As a matter of fact Chavez is Fidel Castro's student and visits him often in Cuba. Chavez just visited Ecuador's president recently. As we speak chavez is nationalizing various private companies and has taken over private land just like his hero Fidel has done. Also Costa Rica has passed some new laws that affect the expats and the worse part is that they are retroactive and the people that came exempt from some taxes will now have to pay them back to the day of entry. These are examples of the things that are happening on a daily basis. I don't want to spoil your enthusiasm but just want to warn you to see the reality of the world today as well as the economic situation and make your decisions based on today's reality and investigating worse case scenario so if it happens you would be ready. I would suggest to anyone wanting to move there to rent, this way no matter what, you will not lose anything if you need to leave. Laws change daily as far as the requirements to get visas, $ amount required to get retirees visas, items you can bring etc. Panama just changed the $ amount needed to get a Pensionado visa. Just remember as you move to any country that you have to follow whatever laws are there, that they can be changed quickly and that you will always be the foreigner no matter how well integrated you are in the community. If you make an informed decision with all the facts under your belt then you will not be surprised or have to blame anyone later. there are many people selling properties that will tell you everthing is rosy just to sell you the property. In many countries like Mexico a foreigner can't own property directly and many countries are eliminating the benefits to foreigners because they no longer feel they have the need to atract them. So get informed before you jump. Ecuador's government recently defaulted on their bonds and they are thinking of changing the monetary system away from the dollar. If this happens it will hurt the residents. Another thing is don't drive! Transportation is very cheap and if you drive and get into an accident they will hold you in jail till the matter is resolved. As far as those that want to know the laws on weapons please do yourself a favor and don't go there. You could get into a lot of trouble. Good luck!

William Russell

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EcuadorPresent political status

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