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Expat Community > Ecuador

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Banking in Ecuador

14 years ago
Please allow me to revisit the issue regarding taxes on US citizens who live or are planning to live in Ecuador. Is anyone aware of an Ecuadorian bank not allowing a US citizen to open a bank account or being advised to find another bank? I was in the process of buying a place in San Clemente when I learned of H.B. 2487 and stopped it when I read of the 30% tax being imposed on US citizens. I have done the research as best I can and as always...if you talk to ten attorneys you get ten different spins on an issue. This new legislation does not become effective until January 2012, but I have been told that some banks are already reporting as per the mandate, because it actually benefits the banks. I have no way of verifying this.

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