The Investor Visa and Your Ecuadorian Property: Do You Really Need to Live There?

The dream of securing an Ecuadorian residency visa often hinges on a significant investment, most frequently in real estate. Many prospective expats envision their future in a beautiful Cuenca apartment or a tranquil coastal villa—a tangible symbol of their new life and successful visa application. However, a critical question consistently arises: "Do I have to live in the property I purchase to qualify for and maintain my Investor Visa?"

As an Ecuadorian immigration attorney who has navigated countless clients through the complexities of the Ley Orgánica de Movilidad Humana (LOMH), I can tell you this question cuts to the core of common misconceptions. The answer is nuanced, involving a clear distinction between the requirements for the initial visa application and the obligations for long-term residency.

Let's dissect this with the legal precision and on-the-ground experience you won't find in a generic guide.

The Law: Investment, Not Domicile

The Ecuadorian Investor Visa, officially the Visa de Residente Temporal de Inversionista, is granted based on the legal framework established in Artículo 60, Numeral 5 of the Ley Orgánica de Movilidad Humana. This law's primary objective is to attract foreign capital. The government’s focus is on the legitimacy and value of your investment, not on whether you sleep in the property from day one.

The minimum investment is tied to the Salario Básico Unificado (SBU), or unified basic salary, which is adjusted annually. For 2024, the minimum investment is 100 SBUs. With the SBU at $460, this translates to a minimum investment of $46,000 USD.

This investment can be in:

• Real Estate: Purchasing property in Ecuador.
• Securities or Company Shares: Investing in an Ecuadorian company.
• Productive Projects: Establishing a business that contributes to the local economy.

For the purpose of the initial visa application, the Ministerio de Relaciones Exteriores y Movilidad Humana (MREMH) requires proof of the investment, not proof of cohabitation with it.

Property Ownership vs. Residency: The Critical Nuance

Here is the distinction that trips up many applicants: the law requires you to invest in real estate, not necessarily to reside in it as your primary dwelling to obtain the visa. Your application's success hinges on demonstrating the legality, value, and transfer of funds for the investment.

What the Law Actually Demands for Your Property Investment:

1. Proof of Ownership: This is non-negotiable and requires official, registered documents. An informal sales agreement is worthless. You need the fully executed Escritura Pública de Compraventa (public deed of sale), registered at the municipal Registro de la Propiedad.
2. Valuation: The property’s value must meet the $46,000 minimum (as of 2024). Crucially, immigration officials in Cuenca look at two figures: the purchase price in the escritura and the official municipal assessed value, the avalúo catastral, found on your annual property tax receipt (impuesto predial). If the purchase price is slightly below the minimum but the avalúo catastral is above it, your attorney can often leverage the higher municipal valuation to qualify your investment.
3. Proof of Funds Transfer: You must provide clear evidence that the investment funds originated from outside Ecuador and were legally transferred into the country for the purchase. This typically involves apostilled bank statements and records of wire transfers.

The law does not contain a clause stating you must occupy the property upon visa approval. You could legally rent it out, leave it vacant, or use it as a vacation home initially.

From Visa Holder to Permanent Resident: When Living There Does Matter

While you don't have to live in the property to get the visa, your physical presence in Ecuador becomes critical for maintaining and renewing your status.

• Temporary Residency Rules: Your initial Investor Visa is for two years. To be eligible for renewal or to apply for permanent residency, you cannot be outside of Ecuador for more than 90 days per year during those first two years. Your travel is tracked via the Certificado de Movimientos Migratorios, a document you'll need for future immigration processes.
• Permanent Residency: After 21 months of continuous temporary residency, you can apply for permanent residency. At this stage, immigration officials will absolutely expect you to have established a life here. Utility bills in your name, bank accounts, and a demonstrable connection to your community become evidence of your intent to reside permanently.

The Bottom Line: The investment gets you the visa. Your physical presence in Ecuador allows you to keep it.

Hyper-Specific Pitfalls Only an Expert Knows

1. The Orden de Cedulación Trap: Once your visa is approved and stamped in your passport, you can't just walk into the Registro Civil in Cuenca to get your cédula (national ID card). You must first go to the Coordinación Zonal 6 of the MREMH (the local Foreign Ministry office) to have your visa registered in the system and receive an Orden de Cedulación (Cédula Order). Showing up at the Registro Civil without this specific order is the #1 reason new expats are turned away, wasting a whole day.
2. "Closing Cost" Miscalculations: Many real estate agents quote closing costs that don't include the impuesto a la plusvalía (capital gains tax) or the alcabala (property transfer tax) with precision. These taxes are based on municipal calculations, not just the sales price, and can be higher than expected. An inaccurate calculation can disrupt your budget and delay the registration of your escritura.
3. The Background Check Expiration Date: For U.S. citizens, the required FBI background check must be apostilled by the U.S. Department of State. The Ecuadorian government considers this document valid for only 180 days from its date of issuance, not from the date of the apostille. Many applicants miscalculate this timeline, arriving in Ecuador with an expired document, which brings their entire application to a halt.

Actionable Legal Checklist for a Property-Based Investor Visa

• [ ] Investment Verification: Proof that the property's purchase price or avalúo catastral exceeds 100 SBUs (currently $46,000 USD).
• [ ] Registered Deed: The Escritura Pública de Compraventa, officially registered with the Registro de la Propiedad.
• [ ] Lien Certificate: A recent Certificado de Gravámenes y Prohibiciones from the Registro de la Propiedad confirming you are the owner and the property is free of liens.
• [ ] Proof of Funds: Apostilled or legalized documentation showing the legal transfer of funds into Ecuador for the purchase.
• [ ] Financial Solvency: Bank statements demonstrating you have sufficient funds to support yourself in Ecuador, separate from the property investment.
• [ ] Criminal Record: Apostilled federal/national criminal background check from your country of origin and any country you have resided in for the past five years. Must be valid for 180 days from issuance.
• [ ] Valid Passport: With at least six months of validity remaining.
• [ ] Visa Fees: Be prepared for the application fee (~$50) and the visa issuance fee (~$400). These are paid separately and the application fee is non-refundable.

⚠️ When to Halt Everything and Call an Attorney

Stop the process immediately and seek qualified legal counsel if:

• A seller suggests under-declaring the sales price on the escritura to "save on taxes." This is illegal and can invalidate your visa investment.
• You cannot obtain a clean Certificado de Gravámenes y Prohibiciones.
• The funds for your purchase are being routed through an unofficial third party, breaking the clear financial trail required by the MREMH.
• You are buying a property that is part of an inheritance (derechos y acciones) that has not been legally settled and registered. This is a common and disastrous mistake for foreign buyers.

Navigating the Investor Visa process is about precision and documentation. While you don't need to move into your new home on the day your visa is approved, your investment must be flawless, and your long-term plan must include genuine residency in Ecuador. This is the path to a secure and successful new life.