Purchase of Property

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  • September 23, 2016 at 3:38 pm #652270
    Allen Wigelsworth
    Participant

    Three questions:
    1) When purchasing a property in Ecuador. What are the ramifications of using the municipal value or the actual purchase price you paid for the property on the deed?
    2) If you purchase property and are over 65, do you have to have a residency visa to qualify for the seniors discounts
    3) If you do not have a residency visa, you can only open up a savings account. Can you still pay your utility bills using a savings account?

    September 24, 2016 at 2:38 pm #652272
    EI EXPERT – EDD STATON
    Participant

    1. If you are referring to qualifying for an investment visa, the value used is the municipal value.
    2. Yes, you need a visa and a cedula (national ID) to qualify for all senior discounts.
    3. Yes. Your EC banking institution can explain the procedure.

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