Living in Ecuador has its advantages and disadvantages. On one hand, Ecuador has a low cost of living, beautiful beaches, scenic mountains and a vibrant culture. It is a stable South American country and is fast becoming a popular retirement destination for many Americans.
On the other hand, moving to a new country can be a daunting prospect for many retirees. Not many Ecuadorians speak English, so one would have to learn Spanish. A retiree would also need to have a stable pension or sufficient savings in order to obtain a pensioner’s visa for Ecuador.
Where Should One Live in Ecuador
The largest city in Ecuador is Quito; this city is also the nation’s capital. A person who is looking for a modern ambiance should retire here. However, a person can save a lot of money by living in a smaller city. There are many small cities around Ecuador that are either near the beach or on a mountain. These cities have beautiful views and provide many opportunities for engaging in outdoor activities.
Obtaining a Visa for Ecuador
A person who is considering living in this country should start by obtaining a passport. One will also need to present his or her police record, a health certificate, two passport photos and proof of income. The proof of income may take the form of a retirement pension, a certificate showing that one is the recipient of a trust or savings in the bank. Bank savings would need to be deposited with either the Central Bank of Ecuador or another accredited financial institution.
One will also need to be able to show enough money for a month’s worth of rent; this money is separate from the monetary requirements noted above. A pension visa for Ecuador costs $200 per person.
The Cost of Living in Ecuador
The cost of living here is relatively low. A person would pay as much for a meal as he or she would pay in the United States. However, the cost of transport and groceries is quite low. Utilities (water, electricity, gas, garbage, internet) cost an average of $84 a month. One can rent a three bedroom apartment for as little as $460 a month outside of Quito; in the city center it would cost about $100 more. A person who is living in this country can also purchase an apartment. The cost ranges from $900 to $1,500 per square foot, depending on which part of Ecuador a person lives in.
A retiree who wants to save money and still live comfortably should consider living in Ecuador. Ecuador has a rich and fascinating culture. The country has excellent restaurants, high quality medical care at low cost, modern amenities and plenty to do. While a person will need to learn at least basic Spanish and obtain a proper visa, these requirements are a small price to pay. Ecuador has a lot to offer any retiree and is a good place to spend one’s golden years.
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