Ecuador recently considered one of the best countries to start businesses and invest in South America. The currency is in American Dollars and right now has the highest minimum wage in the region, which supports the growth and development of the country.
In recent years, Ecuador has implemented various measures and regulations that promote foreign inversion and for locals to formalize their businesses.
If you are foreigner interested in starting working in Ecuador or are an Investor looking to start a business in Ecuador, you’re going to need a Work Visa, also known as a Work Permit.
What are the types of Work Visas in Ecuador? How to apply for a Work Visa or Permit in Ecuador?
Types of Work Visas in Ecuador
You can obtain a Temporary Work Visa in Ecuador if you stay and work in the country for 2 years. This type of Visa can be renewed and if necessary, the beneficiary can later apply for a Permanent/Residence Visa in Ecuador.
This type of Visa is for technicians that have been offered a job contract in Ecuador. At the moment of application, it is essential to have the work contract with the detail of the activities that are going to be done and information about the person or company hiring, salary, and more.
Professional Work Visa
A Professional Work Visa is awarded to someone with a University Degree that has obtained a job in Ecuador. The applicant should have a work contract indicating all the details about the company (public or private), as well as salary, how long they’re staying, and more.
To be able to apply for an Investors Visa in Ecuador, you must comply with one or more of these requirements:
To have shares in a company in Ecuador for a minimum of USD 10,000
To have or share ownership of a property in Ecuador that has a minimum value of USD 80,000
To have a deposit in an Ecuadorian bank or credit institution of at least USD 40,000
The application process must be carried on in the country of permanent residence. It can be done online or at an Ecuadorian Embassy or Consulate. Ecuador has many Embassy and Consulates around the world.
These are some of the general requirements to obtain a Work Visa in Ecuador. Keep in mind that these may change depending on the type of Visa and some other documents can be requested:
Original valid passport
Copy of the original valid passport
Regular residency in the country where you’re applying for the Visa
Original certificate of criminal record
Prove to have the means for the subsistence of the applicant and family (if applicable)
Payment of the fees
Other documents according to the type of Visa (work contract, deed of ownership, articles of incorporation, etc.)
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Easyco also provides additional services to guarantee your company’s compliance, which include: