Expat Community > Ecuador

EcuaAssistEcuador
Joined 2022
Posts: 5

Pensioner Visa - New Regulations in the Organic Law of Human Mobility

2 years ago

In a world of constant change, it is important to stay up to date on relevant information that affects our day-to-day. Even more so, it is important to be familiar with the changes that occur within the country in which we are living, or that we are planning to adopt as a home.

In recent years we have seen several changes and reforms to migration and human mobility within Ecuador, changes that have been surprising for many. This can be discouraging for some who do not have access to sources with timely, true, solid, and reliable information.

For this reason, this article aims to provide our readers with current and quality information, information that can be taken into account when making immigration decisions.

On February 5, 2021, the Organic Law of Human Mobility was reformed and published through the Third Official Registry Supplement No. 386.

On October 12 of the same year, the draft regulations for the Organic Law of Human Mobility were submitted by the Ministry of Foreign Affairs. On February 18, 2022, the new regulation to the law was issued and published by Executive Decree No. 354. This repealed the regulation published in the Official Registry Supplement No. 55 on August 10, 2017.

There are several changes established in the reform to the Organic Law of Human Mobility and its present regulations. Substantial changes include temporary and permanent visas which will be the main topic to be discussed in this article. Particularly, this includes the changes for temporary visas in the retiree category.

Article 65 of these regulations establishes the following, “the official support document that certifies the category of retiree must be presented and granted by the competent institution abroad, certifying that the monthly payment of the pension holder is equal to or greater than three Unified Basic Salaries.” Based on the above, for this migratory category, it will be necessary to present a monthly pension amount of not less than three unified basic salaries in Ecuador. The current unified basic salary in Ecuador corresponds to $425 a month.

Therefore, with the current regulations, to access a temporary retiree visa, based on the salary established for the year 2022, a retirement pension of not less than $1,275 per month is required.

Another fundamental change established with the changes is the presentation of national or foreign health insurance which is valid through the entire visa period. In the event that the insurance is foreign, it must specify in its policy or contract that it provides coverage in Ecuador.

For this reason, it is important to be aware that the insurance requirement is required at the time of application of the migratory category and not as a requirement after the granting of the visa.

Additionally, for cases of protection visas (Amparos), an additional income of $250 is required for each covered person.

It is important to take into account all the established changes for this migratory category so that the process is as smooth as possible when applying for the retiree visa.

For more information on this topic, you can request a free 15-minute appointment through the following link: https://www.ecuaassist.com/contact-us-form or by email at [email protected].

The EcuaAssist Team

SJB Global

SJB Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model.
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SJB Global

SJB Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model.
Learn More

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SJB Global

SJB Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model.
Learn More

SJB Global

SJB Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model.
Learn More

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Expat Community > Ecuador

Pensioner Visa - New Regulations in the Organic Law of Human Mobility

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