Investor Visa for a Business (Acciones de una Compañía): An Expert's Guide to Ecuadorian Residency Through Company Investment

Navigating Ecuadorian immigration law requires precision, especially for the investor visa pathway. For those seeking residency through a capital contribution to an Ecuadorian company, the Temporary Resident Visa as an Investor (Residencia Temporal - Inversionista) offers a direct route. This category, specifically by acquiring company shares (acciones de una compañía), is designed for individuals making a verifiable capital investment in a new or existing Ecuadorian enterprise.

This guide provides an authoritative, detailed breakdown of the process. It is crafted from hands-on experience navigating the corridors of the Ministerio de Relaciones Exteriores, the Superintendencia de Compañías, and the Registro Civil, ensuring you are prepared for the legal and practical realities of this visa application.

Understanding the Legal Framework: The Inversionista Visa

The legal foundation for this visa is the Ley Orgánica de Movilidad Humana (LOMH). Specifically, Artículo 60, numeral 10, establishes the category for individuals who invest in real estate or securities, or who have a productive investment project. Investing in the shares of a company falls squarely within this provision. The detailed requirements are further outlined in the law's implementing regulations (Reglamento a la Ley Orgánica de Movilidad Humana).

This visa is not a passive investment tool; it is a residency permit granted on the basis of a significant, verifiable capital injection into the national economy. The government scrutinizes applications to ensure the investment is legitimate, the source of funds is lawful, and the target company is fully compliant with Ecuadorian law.

Eligibility Criteria and the Investment Threshold

The core requirement is the minimum investment amount, which is directly tied to Ecuador’s unified basic salary (Salario Básico Unificado or SBU), an amount that is adjusted annually.

• Investment Threshold: As per current regulations, the minimum investment must be equal to or greater than 100 times the current SBU. For 2024, the SBU is $460 USD, making the minimum required investment $46,000 USD. This amount must be fully paid into the company's capital.

Crucially, the investment must be made in a company that is legally constituted and in good standing with all government entities. This includes:

• Superintendencia de Compañías, Valores y Seguros: The company must be actively registered and have its annual compliance filings up to date.
• Servicio de Rentas Internas (SRI): The company must have a valid RUC (Registro Único de Contribuyentes) and be current on all tax obligations.
• Instituto Ecuatoriano de Seguridad Social (IESS): If investing in an existing company with employees, it is absolutely critical to obtain a Certificado de Cumplimiento de Obligaciones (Certificate of Compliance) from the IESS. An outstanding debt with the social security system is a common deal-breaker that can invalidate your investment for visa purposes.

Step-by-Step Application Process

The process is methodical and document-intensive. Each phase must be executed correctly to ensure a successful outcome.

Phase 1: Due Diligence and Investment Execution

1. Identify a Target Company: You may either form a new company (constitución de compañía) or invest in an existing one. Thorough due diligence is non-negotiable. This includes verifying its legal and financial standing through the official online portals of the SRI and the Superintendencia de Compañías.
2. Engage Legal Counsel: Retain an Ecuadorian attorney with expertise in both corporate and immigration law. They will manage the share purchase agreement (compraventa de acciones) or the capital increase (aumento de capital), ensuring all corporate minutes (actas de junta de accionistas) and bylaws (estatutos) are correctly drafted, notarized, and registered.
3. Transfer and Register the Investment: The investment capital must be transferred from a foreign bank account to the Ecuadorian company's bank account. Hyper-Specific Detail #1: This transfer must be officially registered with the Banco Central del Ecuador to obtain a Registro de Inversión Extranjera. This registration serves as irrefutable proof to the Ministry of Foreign Affairs that the funds entered the country for investment purposes. Skipping this step is a frequent and critical error.

Phase 2: Compiling the Visa Dossier

1. Secure Proof of Investment: This is the centerpiece of your application. You will need:
   • Notarized copies of the company's updated bylaws reflecting your ownership.
   • The appointment of the company's Legal Representative (Nombramiento del Representante Legal), duly registered with the Mercantile Registry (Registro Mercantil).
   • A certificate from the Legal Representative, notarized, confirming the amount of your investment and that it has been fully paid into the company's accounts.
   • A certificate from the Superintendencia de Compañías showing the current ownership structure.
2. Gather Personal Documentation: This is where meticulous organization is paramount.
   • Passport: Color copy of the main page and all stamped pages. Must be valid for at least six months.
   • Visa Application Form (Formulario de Solicitud de Visa): Completed online.
   • Criminal Record Check: From your country of origin and any country you have lived in for the past five years. This document must be apostilled (or legalized) and then officially translated into Spanish in Ecuador.
   • Proof of Financial Means: Beyond the investment, you must demonstrate you can support yourself in Ecuador.
   • Health Insurance: Proof of public or private health insurance valid for the duration of your stay in Ecuador. This is a mandatory requirement under the LOMH.

Phase 3: The Visa Application and Fees

The application is submitted online through the official government portal.

1. Submit the Application: All documents are uploaded in digital format.
2. Pay Government Fees: You will first pay a non-refundable application processing fee. Hyper-Specific Detail #2: As of 2024, the visa application fee is $50 USD. If your application is approved, you will then be required to pay the visa issuance fee of $400 USD. Do not pay the second fee until you receive official notification of approval.
3. Visa Approval and Registration: Upon approval, the electronic visa is issued and linked to your passport number in the government's system.

Phase 4: Obtaining Your Cédula (Residency ID Card)

The visa itself is not the final step. You must obtain your cédula de identidad.

1. Secure the Order of Cedulación: After your visa is approved, you must obtain an orden de cedulación. This is a specific authorization document generated by the Ministry of Foreign Affairs system that permits the Registro Civil to issue your ID card.
2. Schedule an Appointment: You must schedule an appointment (turno) online for the Registro Civil office. Walk-ins are not accepted for this service.
3. Visit the Registro Civil: Hyper-Specific Detail #3: A common mistake, particularly at busy offices like the main Registro Civil in Cuenca on Av. Remigio Crespo, is bringing only a printout of the visa. You must present the separate orden de cedulación along with your original passport. Without this specific order, you will be turned away, regardless of your appointment. The first-time cédula issuance fee is approximately $5 USD.

Common Expat Pitfalls and Expert Solutions

1. Investing in a Non-Compliant Company: An existing company with hidden tax (SRI) or social security (IESS) debts will render your investment invalid for immigration purposes.
   • Solution: Mandate that your attorney obtain official "Certificates of No Pending Obligations" from both the SRI and IESS as a condition of the investment.
2. Improper Fund Transfer: Simply wiring money to a personal account and then to the company is insufficient. The trail must be clean and officially registered.
   • Solution: Use a formal international wire transfer directly to the company's official bank account and immediately begin the registration process with the Banco Central.
3. Incomplete Corporate Paperwork: Missing a signature on shareholder meeting minutes or failing to register the Legal Representative's appointment can halt the entire process.
   • Solution: Ensure your attorney provides a complete, registered set of corporate documents before you file the visa application.

Legal Checklist

• [ ] Valid Passport: At least 6 months validity.
• [ ] Apostilled Criminal Background Checks: Translated in Ecuador.
• [ ] Proof of Health Insurance: Valid in Ecuador.
• [ ] Banco Central Investment Registration: Proof of foreign fund transfer.
• [ ] Complete Corporate File: Registered bylaws, shareholder minutes, Legal Representative appointment.
• [ ] Certificates of Compliance: From SRI, IESS, and Superintendencia de Compañías.
• [ ] Payment Receipts: For the $50 application fee and $400 visa fee.
• [ ] Orden de Cedulación: Secured after visa approval for the Registro Civil.

⚠️ Legal Alert: When to Consult an Attorney

This guide is for informational purposes. The complexity and potential for regulatory changes make professional legal counsel essential. You must consult with an experienced Ecuadorian immigration and corporate attorney if:

• You are structuring a new company and need to draft bylaws.
• The target company has a complex ownership structure or a history of financial issues.
• You are unclear about the source of funds documentation requirements.
• You receive a request for additional information (subsanación) from the Ministry of Foreign Affairs.

The intersection of corporate law and immigration regulations is intricate. Professional guidance is not a luxury; it is a requirement for a secure and successful investment and residency application.