Why To Retire In Ecuador
For the financially-driven retirees, Ecuador is one of the most affordable countries to live in the world. They also adopted the use of the U.S. dollar as their national currency, making the transition south very easy. Ecuador provides tax benefits for all residents — foreign included — over age 65. The country is covered in natural beauty, including the famous Galapagos Islands, dense rainforests, and even coastal mountain ranges. Did you know it’s home to 10 percent of the world’s animal and plant species? Spend your retirement years discovering nature while stretching every last dollar of your savings in Ecuador!
Retire In Ecuador: Things To Know
Ecuador sits on the Equator, meaning most of the country experiences a humid, tropical climate, and long, sunny days. The country averages temperatures ranging from 50 degrees Fahrenheit at night to 80 degrees Fahrenheit during the day, almost year round. Residents on the coast experience even warmer weather.
The one exception to this climate is the mountainous regions, which experience much colder weather than the rest of the country. There is occasional rain throughout Ecuador, but it is most frequent in the rainforest regions.
Ecuador makes the visa process simple, offering a visa specifically for retirees. Applicants must provide proof of earning a minimum of $800 of retirement or pension income per month in order to qualify. More information can be found here.
Ecuador’s largest cities have an expansive public bus system, perfect for both long-distance travels and short runs across the city. For cross-country travel, often a short plane ride is the fastest, cheapest means. Small airports throughout the country allow for convenient domestic travel. For international travel, the country’s main airport is the Mariscal Sucre Quito International Airport.
As of 2017, Ecuador law requires some form of health insurance for all residents under 65. Many retirees choose to buy the country’s national social security healthcare system, known as the Instituto Ecuatoriano de Seguridad Social, or IESS. More information on Ecuadorian healthcare can be found here.
Spanish is both the official and the dominant language in Ecuador. While some common tourist locations may have residents who can speak English, most Ecuadorians do not.
American travelers get to bypass the currency exchange process when traveling to Ecuador. Ecuador is one of the many countries in the world with the U.S. dollar as its official legal tender.