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Wednesday, March 7, 2012

ECUADOR VISAs – Tourism, Investment, Overstaying, Extensions, Changing Status, Working as a Professional. Part five. March 2012.

Walking tours of Centro Historico Quito with Liliya
Entertaining history, legends, stories, gossip and
a lot of info about things to do and see in Quito.
$20 for a two-hour tour for one person
$5 for every additional person
For booking email me at

Part one

Part two

Part three

Part four

I just assembled this run-down on the situation with Ecuadorian visas as of 28 February 2012 and hope it helps people!
Things are changing ALL the time – and very quickly…!

 - Making your Investment in Ecuador.

You would think this would be simple: You go to a bank, wire the money, and open your CD at a bank

Not so in Ecuador

In Ecuador, only those with permanent visas and Cedulas (i.e., National IDs) can open accounts and get account numbers; however, you may need an account to get your CD; and you will also need the CD to get your permanent visa…. (You can see that this ends up sending you in a permanent circle!)

 There are two solutions:

 (1) Wire the funds to an Ecuadorian friend’s account and withdraw the funds IN CASH. If you bring the cash to BANCO PICHINCHA, they will give you a CD. You will, of course, need to say how you got the cash, but they will do it! (I carried a bag with US$30,000 in it (in $10 bills) which I had obtained after sending the money to my friend’s account at PRODUBANCO. While PRODUBANCO would not give me a CD, BANCO PICHINCHA would… Go figure!)

 (2) Visit BANCO TERRITORIAL at Av. 12 de Octubre N24-774 y Coruna Edificio Urban Plaza, Piso 15 and ask to see Maria Fernando Naranjo. I have been told that she will open up accounts for foreigners (even though nobody else anywhere else can…and everybody else says that this is illegal. Why Maria can do it and nobody else can is anybody’s guess; but why question something which works? Maria can be reached at:

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Monthly rental in Quito, for tourists and expats.
We have a 2 bedroom, 1 bath totally remodeled
Colonial Quito, furnished apartment for rent.
For booking, pictures and more info
Available from May 18th, 2012