Proving Licit Funds: A Definitive Guide for the Ecuadorian Investor Visa

Securing an Ecuadorian Investor Visa (Visa de Residencia Temporal de Inversionista) is a pivotal step toward your new life in this incredible country. However, the path to approval hinges on one critical, non-negotiable requirement: proving the legal origin of your investment funds. This isn't merely a bureaucratic formality; it's a mandate under Ecuador's anti-money laundering framework, scrutinized by the Ministerio de Relaciones Exteriores y Movilidad Humana (Cancillería).

As an immigration specialist with extensive on-the-ground experience in Cuenca, I've seen countless applications stall at this stage. Generic advice falls short. This guide provides the authoritative, hyper-specific detail needed to build an irrefutable case for the licit origin of your funds, ensuring your application is compliant, robust, and successful.

The Legal Foundation: Understanding Ecuador's Requirements

The primary legal authority governing this process is the Ley Orgánica de Movilidad Humana (LOMH) and its accompanying regulations. Specifically, Artículo 60, numeral 5, outlines the basis for the temporary investor visa. The law's core objective is to ensure that capital entering Ecuador is clean and contributes legitimately to the economy.

The minimum investment threshold is indexed to Ecuador's basic salary. As of 2024, the requirement is 100 Salarios Básicos Unificados (SBU). With the SBU at $460, this translates to a minimum investment of $46,000 USD. This amount is subject to change annually with the SBU.

Crucially, you must provide an unbroken, verifiable chain of evidence from the source of the funds to their current availability for investment in Ecuador.

The Core Documents: Building Your Financial Narrative

The Cancillería requires a complete and transparent financial history. Vague assertions of wealth are insufficient; you must present a detailed, documented narrative.

1. Proof of Employment or Business Ownership

If your capital comes from professional earnings, the evidence must be comprehensive.

• For Salaried Employees:

  • Employment Letter: A recent, notarized letter on company letterhead confirming your position, tenure, and salary.
  • Payslips/Salary Slips: The last 6-12 consecutive payslips.
  • Tax Returns: Official, filed tax returns from your home country for the past 2-3 years. This is a critical corroborating document.
  • Bank Statements: Personal bank statements for the last 12 months showing the consistent deposit of your salary.

• For Business Owners:

  • Business Registration & Financials: Apostilled or legalized corporate documents (e.g., Articles of Incorporation) and audited financial statements for the past 2-3 years showing profitability.
  • Tax Returns (Business and Personal): Official returns for both the business and yourself.
  • Bank Statements: Statements for both business and personal accounts, demonstrating revenue and the legal transfer of profits (dividends, owner's draw) to your personal account.
  • Proof of Sale of Business: If funds are from a sale, you need the apostilled purchase-sale agreement, tax documents clearing the sale, and bank statements showing receipt of proceeds.

2. Proof of Investment Income

Funds from investments require a clear paper trail of their performance and liquidation.

• Investment Account Statements: 12-24 months of statements from brokerage or mutual fund accounts. These should show not just the final balance, but the history of contributions and growth.
• Proof of Sale of Assets: If you liquidated stocks, bonds, or other assets, provide the transaction records (trade confirmations) showing the original purchase and the final sale.
• Capital Gains Tax Documentation: Evidence that you have declared and paid any applicable capital gains tax in your home country.

3. Proof of Inheritance

Inherited funds are heavily scrutinized.

• Official Probate Records: An apostilled copy of the court-validated will and the Letter of Testamentary or equivalent legal document.
• Deed of Distribution: The legal document detailing the specific assets distributed to you.
• Death Certificate: An apostilled copy of the death certificate.
• Estate Bank Statements: Documents showing the inherited funds leaving the estate's account and being deposited directly into your personal account.

4. Proof of Sale of Real Estate

This is a common source of funds, but requires precise documentation.

• Deed of Sale: The notarized and apostilled/legalized final sale agreement.
• Proof of Ownership: The original deed showing you owned the property prior to its sale.
• Closing Statement: The settlement document (e.g., HUD-1 in the US) that itemizes all funds.
• Bank Statement: Your bank statement clearly showing the deposit of the net proceeds from the sale.
  • Expert Tip: For a real estate investment in Ecuador, the visa is based on the property's municipal assessed value (avalúo catastral), not the purchase price. Expats often make the costly mistake of overpaying for a property, believing the higher "commercial value" helps their visa application. It does not. The avalúo on the deed is the only figure that matters to immigration.

The "Hyper-Specific" Requirements Only Locals Know

Generic checklists miss the nuances that can make or break an application. Here are three critical, experience-based requirements:

1. Declaración Juramentada sobre el Origen Lícito de los Fondos: This is a sworn, notarized statement made before an Ecuadorian notary. In this document, you formally declare under oath that your funds originate from legal activities. This is not just a suggestion; it's a mandatory document for virtually all investor visa applications. The cost is typically between $25 and $50. Failure to include this can cause an immediate request for more information (subsanación) or outright denial.

2. UAFE Scrutiny and Bank Reporting: Ecuador's financial intelligence unit, the UAFE (Unidad de Análisis Financiero y Económico), mandates that all financial institutions report transactions over a certain threshold (currently $10,000). When you open an account to deposit your investment, the bank will require its own source-of-funds documentation. Be prepared with your entire dossier for the bank before initiating the transfer. Transferring funds from a third-party account or a business account not clearly tied to you will raise immediate red flags with both the bank and immigration authorities.

3. Correct Legalization Procedure: Documents from outside Ecuador must be apostilled (if your country is a signatory to the Hague Convention) or legalized by the Ecuadorian consulate in your country of origin. Once in Ecuador, any document not in Spanish must be translated by a court-certified translator. Common Mistake: Getting a translation done in your home country. Often, these translations are not accepted. The translation must either be done in Ecuador or, if done abroad, the translator's signature itself must be apostilled—a cumbersome and often impossible process. The safest route is to have all translations performed in Ecuador.

The Cost of the Visa Process

Be prepared for the official government fees. As of 2024, these are:

• Visa Application Fee: $50 (non-refundable)
• Visa Issuance Fee: $400 (paid upon approval)
• Cédula (ID card) Order: $5 (paid to the Registro Civil)

These figures do not include costs for notarization, apostilles, translations, or professional legal assistance.

Navigating Common Expat Pitfalls

• Unexplained "Lump Sum" Deposits: A bank statement showing a sudden, large deposit just before your application is the biggest red flag. You must document the origin of that specific deposit.
• Cash-Based Finances: Relying on cash makes tracing your funds impossible. The government needs a clear, bank-verified paper trail.
• Mixing Funds: Transferring your investment capital from a joint account with a spouse who is not also applying can create complications. The funds should ideally originate from an account solely in the applicant's name.
• Incomplete Chain of Custody: Simply showing a brokerage account with $50,000 is not enough. You must show how the money got into that account over time (e.g., through regular salary deposits).

⚠️ Legal Alert: When to Consult an Immigration Attorney

While this guide is comprehensive, you must seek professional legal counsel if:

• Your funds originate from complex sources like trusts, offshore entities, or cryptocurrency investments.
• You have a history of financial disputes or regulatory inquiries.
• Your documentation has gaps or inconsistencies.
• You are structuring a business investment that involves multiple partners or requires incorporation in Ecuador.

An experienced Ecuadorian immigration attorney can preemptively identify issues, ensure compliance with the latest Acuerdos Ministeriales (Ministerial Decrees) that modify regulations, and represent you before the authorities, safeguarding your investment and your future in Ecuador.

Legal Checklist for Investor Visa Source of Funds

• [ ] 12+ months of bank statements showing logical accumulation of capital.
• [ ] 2-3 years of official tax returns (personal and/or business).
• [ ] Apostilled/Legalized source documents (e.g., property sale deed, business financials, probate records).
• [ ] Official Spanish translations of all non-Spanish documents, performed in Ecuador.
• [ ] Declaración Juramentada sobre el Origen Lícito de los Fondos (prepared and signed in Ecuador).
• [ ] Proof of transfer of funds into an Ecuadorian bank (if investing in a CD or financial instrument).
• [ ] Apostilled national-level criminal background check certificate (required for the visa application itself).

Diligently preparing your source of funds documentation is the most important investment you can make in your Ecuadorian visa application. It demonstrates respect for the law and builds a foundation of trust with your new home country.

Ready to ensure your application is flawless? Schedule a consultation to review your specific financial history and craft a successful strategy.