Written By: Jacquelyn Annete García Vadnais
Ecuador is a country with a unique culture, vibrant history, and incredible scenic views. In addition, Ecuador has an important location for international trade, which has made the country become appealing for business between not only Latin American countries but also the United States and Canada. In terms of real estate investment, the capital city of Quito has become an important epicenter for commerce and tourism. For this reason, many real estate investors have decided to invest in Quito, Ecuador. For prospective real estate investors that are considering investing in Quito, Ecuador, it is highly recommended to review the information listed below:
History of Ecuador
Ecuador has a unique and fascinating history that can still be seen in the local culture today. Previously, the coastal section and the high Andes in Ecuador were populated by indigenous tribes when the Europeans first arrived in 1526. The first Spanish settlement was established in 1534 in Quito, which had been an important town for the Inca before the arrival of the Spaniards. Ecuador was part of the Viceroyalty of Peru until 1740 when it was changed to the Viceroyalty of New Granada where it combined with both Colombia and Venezuela. Since Ecuador did not have as much silver as its neighbors, it did not attract as many European settlers throughout the colonial era, which ended in 1822. Ecuador gained its independence in 1822 as a part of the Federation of Gran Colombia, which it withdrew from in 1830. There were many dictatorships in the period that followed and Ecuador had thirteen different constitutions. At the end of the nineteenth century, the cocoa boom caused the country to gain a great deal of wealth. Many of these industries and global trade agreements are still in place today. Modern day Quito is well known for its multicultural eateries, and nightlife. Its picturesque location high in the Andes mountains, and Unesco world heritage “Old Town” neighborhood also make Quito an attractive destination. The sprawling city also contains several mosques, many historical churches, and several synagogues.
Top Benefits of Investing in Real Estate in Quito, Ecuador
Climate
Ecuador has a very moderate climate, which makes an ideal place to spend the majority of the year. In addition, the climate in Ecuador is ideal for those that are looking to invest in their agricultural sector.
Infrastructure
Ecuador has recently made a great deal of investment into their infrastructure, which will not only attract additional foreign investment, but it will also increase the property values for investors who decide to invest in property in Ecuador. Ecuador is equipped with modern infrastructure and road systems that continue to grow. Today, there are several main commercial ports including Manta, Esmeraldas, Bolivar, and Guayaquil, which perpetuate trade to the country.
Economic Development
Since 2000, Ecuador has been integrating the United States Dollar into their economy, which has led to more foreign direct investment and further stability. For real estate investors, this will only draw more businesses and tourists to Ecuador, which could have great yields for real estate prices and vacation rental pricing.
Free Trade Zones
Ecuador has several Free Trade Zones available, which is quite appealing to potential foreign investors. The Free Trade Zones within Ecuador enable companies to import raw materials and machinery duty free and export finished or semi-processed goods tax-free. In addition, there are no restrictions on the repatriation of profits for the companies. In the upcoming years, Free Trade Zones will continue to boost Ecuador’s economy.
Ease of Residency and Citizenship to Foreigners
Ecuador offers a very appealing investor visa with an easy path to citizenship. This is a great option for foreign real estate investors that are looking for another citizenship for a very affordable price. For example, if a foreign citizen decides to invest at least $25,000 USD or more into an Ecuador property or $30,000 USD into an industry, it is possible to obtain an investment visa. Having an investment visa for three or more years can lead to citizenship. Once the investor is a citizen, they will be able to sell assets and use the profit as they choose. Ecuadorian citizenship also allows an ease of restrictions to both live and travel to many countries in South America.
Increase in Tourism
There are many wonderful places to enjoy in Ecuador including the Galapagos Islands. Quito normally serves as an ideal place to stop through before going to the more remote parts of Ecuador that tourists enjoy. Quito also attracts many travelers for business that will also need lodging and boost the local tourism economy. This will only continue to grow as Ecuador opens its markets more to foreign direct investment. Real estate investors stand to gain a great deal if they decide to invest in real estate in Ecuador, particularly in Quito.
Final Remarks
From its turbulent political past, Ecuador has absolutely come a long way. The government’s effort to grow the economy has truly made an impact for foreign direct investment. Due to Ecuador’s strategic location and strong agricultural sector, the economy will only continue to develop as more foreign direct investment is poured into the country. The Free Trade Zones and integration of the United States Dollar are absolutely valuable to increase the amount of companies that are deciding to either conduct commerce in Ecuador or set up a local office within Ecuador. For real estate investors that are looking for an affordable way to obtain a second nationality, Ecuador offers one of the most affordable buy ins in the world while still having a very strong potential to make real estate gains at the same time. As Ecuador continues to grow and prosper, it will only continue to attract more tourists and unique industries. It will be fascinating to see how Ecuador continues to develop in the years to come and what its role will be in the Western hemisphere in terms of trade and foreign direct investment.
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Jacquelyn Annete Garcia Vadnais is an Investment Consultant and field expert blogger for Barracuda Consulting.
Jacquelyn has a JD/ MBA from Suffolk University, an LL.M in International Law from the University of Miami, and a B.A. from the George Washington University in International Affairs with a Concentration in International Politics. Jacquelyn speaks English, Spanish, French, and Portuguese and has lived in ten countries. Jacquelyn has done work for firms such as Boston Consulting Group and has worked with firms based in over ten countries in the fields of Real Estate, International Law, Expat Living, International Business, Forex Trading, and Travel. She has also volunteered her time and expertise at the Victims Rights Law Center based in Boston, MA.
Please leave your comments below. If you would like to subscribe to our newsletter, click here: https://tinyletter.com/barracuda-consulting. To purchase a full real estate report, or to access a complete suite of investment advisory services please contact us: https://www.barracuda-consulting.net/contact.
Ecuador is a country with a unique culture, vibrant history, and incredible scenic views. In addition, Ecuador has an important location for international trade, which has made the country become appealing for business between not only Latin American countries but also the United States and Canada. In terms of real estate investment, the capital city of Quito has become an important epicenter for commerce and tourism. For this reason, many real estate investors have decided to invest in Quito, Ecuador. For prospective real estate investors that are considering investing in Quito, Ecuador, it is highly recommended to review the information listed below:
History of Ecuador
Ecuador has a unique and fascinating history that can still be seen in the local culture today. Previously, the coastal section and the high Andes in Ecuador were populated by indigenous tribes when the Europeans first arrived in 1526. The first Spanish settlement was established in 1534 in Quito, which had been an important town for the Inca before the arrival of the Spaniards. Ecuador was part of the Viceroyalty of Peru until 1740 when it was changed to the Viceroyalty of New Granada where it combined with both Colombia and Venezuela. Since Ecuador did not have as much silver as its neighbors, it did not attract as many European settlers throughout the colonial era, which ended in 1822. Ecuador gained its independence in 1822 as a part of the Federation of Gran Colombia, which it withdrew from in 1830. There were many dictatorships in the period that followed and Ecuador had thirteen different constitutions. At the end of the nineteenth century, the cocoa boom caused the country to gain a great deal of wealth. Many of these industries and global trade agreements are still in place today. Modern day Quito is well known for its multicultural eateries, and nightlife. Its picturesque location high in the Andes mountains, and Unesco world heritage “Old Town” neighborhood also make Quito an attractive destination. The sprawling city also contains several mosques, many historical churches, and several synagogues.
Top Benefits of Investing in Real Estate in Quito, Ecuador
Climate
Ecuador has a very moderate climate, which makes an ideal place to spend the majority of the year. In addition, the climate in Ecuador is ideal for those that are looking to invest in their agricultural sector.
Infrastructure
Ecuador has recently made a great deal of investment into their infrastructure, which will not only attract additional foreign investment, but it will also increase the property values for investors who decide to invest in property in Ecuador. Ecuador is equipped with modern infrastructure and road systems that continue to grow. Today, there are several main commercial ports including Manta, Esmeraldas, Bolivar, and Guayaquil, which perpetuate trade to the country.
Economic Development
Since 2000, Ecuador has been integrating the United States Dollar into their economy, which has led to more foreign direct investment and further stability. For real estate investors, this will only draw more businesses and tourists to Ecuador, which could have great yields for real estate prices and vacation rental pricing.
Free Trade Zones
Ecuador has several Free Trade Zones available, which is quite appealing to potential foreign investors. The Free Trade Zones within Ecuador enable companies to import raw materials and machinery duty free and export finished or semi-processed goods tax-free. In addition, there are no restrictions on the repatriation of profits for the companies. In the upcoming years, Free Trade Zones will continue to boost Ecuador’s economy.
Ease of Residency and Citizenship to Foreigners
Ecuador offers a very appealing investor visa with an easy path to citizenship. This is a great option for foreign real estate investors that are looking for another citizenship for a very affordable price. For example, if a foreign citizen decides to invest at least $25,000 USD or more into an Ecuador property or $30,000 USD into an industry, it is possible to obtain an investment visa. Having an investment visa for three or more years can lead to citizenship. Once the investor is a citizen, they will be able to sell assets and use the profit as they choose. Ecuadorian citizenship also allows an ease of restrictions to both live and travel to many countries in South America.
Increase in Tourism
There are many wonderful places to enjoy in Ecuador including the Galapagos Islands. Quito normally serves as an ideal place to stop through before going to the more remote parts of Ecuador that tourists enjoy. Quito also attracts many travelers for business that will also need lodging and boost the local tourism economy. This will only continue to grow as Ecuador opens its markets more to foreign direct investment. Real estate investors stand to gain a great deal if they decide to invest in real estate in Ecuador, particularly in Quito.
Final Remarks
From its turbulent political past, Ecuador has absolutely come a long way. The government’s effort to grow the economy has truly made an impact for foreign direct investment. Due to Ecuador’s strategic location and strong agricultural sector, the economy will only continue to develop as more foreign direct investment is poured into the country. The Free Trade Zones and integration of the United States Dollar are absolutely valuable to increase the amount of companies that are deciding to either conduct commerce in Ecuador or set up a local office within Ecuador. For real estate investors that are looking for an affordable way to obtain a second nationality, Ecuador offers one of the most affordable buy ins in the world while still having a very strong potential to make real estate gains at the same time. As Ecuador continues to grow and prosper, it will only continue to attract more tourists and unique industries. It will be fascinating to see how Ecuador continues to develop in the years to come and what its role will be in the Western hemisphere in terms of trade and foreign direct investment.
--
Jacquelyn Annete Garcia Vadnais is an Investment Consultant and field expert blogger for Barracuda Consulting.
Jacquelyn has a JD/ MBA from Suffolk University, an LL.M in International Law from the University of Miami, and a B.A. from the George Washington University in International Affairs with a Concentration in International Politics. Jacquelyn speaks English, Spanish, French, and Portuguese and has lived in ten countries. Jacquelyn has done work for firms such as Boston Consulting Group and has worked with firms based in over ten countries in the fields of Real Estate, International Law, Expat Living, International Business, Forex Trading, and Travel. She has also volunteered her time and expertise at the Victims Rights Law Center based in Boston, MA.
Please leave your comments below. If you would like to subscribe to our newsletter, click here: https://tinyletter.com/barracuda-consulting. To purchase a full real estate report, or to access a complete suite of investment advisory services please contact us: https://www.barracuda-consulting.net/contact.
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