Oh, the hoops and the stress of relocation and I haven't even left yet!!
If you were planning a vacation to Ecuador you probably wouldn't have to do that much: Just decide on what you are taking with you.
In my case, it involves a lot more.
In order to stay in Ecuador, indefinitely, one requires a permanent Visa. There are several different types of Visa's available (which if you are interested are detailed on many other websites). The Visa I will be acquiring is an Investment Visa (or a 9-II Visa).
This requires you to open a bank account in Ecuador, transfer $25,000 US to that account, and invest the money in what is called a "Cash Deposit" (a CD).
Once that is in place, I have to register the CD with the central bank in Ecuador and then I can use the paperwork generated from that to acquire the Investment Visa.
Now, this is a bit of a gamble I suppose as you can never tell what might occur with the economy. But, if I don't acquire this type of Visa, I would have to wait until I am 65 (4 more years) before moving to Ecuador (65 is when I have chosen to collect my Canada Pension so that it is maxed out). A lot can happen in 4 years.
I can take out the CD on an annual basis so if I decide that Ecuador is not for me, I will only have to wait a maximum of one year before I can take my money out of Ecuador. That is not too bad. The only downside is that it costs you 5% to take your money out of the country.
However, if all works according to my plan, I will collect roughly 6% interest per annum on the Investment CD (an extra $125 per month). 6% is the lowest interest rate you would get on a one year term. In some institutions you can get upwards of 11%, but I don't think I am interested in gambling that much.
Also, you have to be careful with regard to the financial institution you choose to invest with. Some are kind of shady and not regulated by the government.
In October of 2018, I will be 65 and will start to collect my Canada Pension. At that time I can apply for a Pensioner's Visa (and disband the Investment CD). However, I will likely choose to apply for citizenship (which I can do after being in the country for 3 years) in which case I won't need the Pensioner Visa.
You can hold duel citizenship so you don't have to give up your Canadian citizenship.
It is much easier if you apply for a Pensioner's Visa right from the start, but unfortunately, that won't work in my case.
If you are collecting a pension you can apply for a Visa while still in Canada which makes it much easier (i.e., you don't have to worry about knowing Spanish). Although, I have been told that some of the people that work at Immigration's (in Cuenca & Quito) speak English.
Oh, incidentally, you can acquire an Investment CD over different terms (e.g., 1 year, 2 years, 3 years, etc.). Since I am taking it out for 1 year at a time that means that I have to renew my Visa every year. I have been informed that this is not too difficult, but nonetheless, involves a trip to the Central Bank Registration office and then to the Immigration's office where they take a copy of the updated investment. Your Visa is only good as long as the Investment is in place.
Paperwork required to secure a Visa
And any documents that are coming from Canada, must be authenticated and OK'ed by the local Consulate of Ecuador. As well, all documents must be translated into Spanish. That means you have to have both the English version and the Spanish version and all must be notarized. The translations should be done in Ecuador, not in Canada.
Needless to say, it is far easier to to acquire a Pensioner's Visa than an Investment Visa as it can all be done in Canada (without translations) and also this makes it so that if, for some reason, your documents are not in order, you are still in Canada to take care of correcting that issue.
There are many more details to this issue. So, if you are interested you can contact me and I will give the full rundown.
So, all of that and I haven't even got to what's involved in relocating Tiger (my cat). And then there is trying to guesstimate what I will need to take with me for the short-term.
More later.
Sunday 27 April 2014
Beautiful Cuenca
Time for a few pictures.
This is the greater part of Cuenca:
I will be staying for one month at a guest house called "Casa de Cuenca" which is located a 1/4 of a mile to the right of the bottom of this photo. You can see a cathedral off in the distance and in the center of the photo. That is the center of the city (or El Centro as it is called in Spanish).
You can't see it but the airport is to the right near the top of this photo. From where I am staying it is roughly a 20 minute walk into El Centro. And walking is something I plan to do a lot of. The bus is only 25 cents. And a taxi is pretty much $2.50 to go any where in the city (taxi drivers can, apparently, take license with this - you do have to be careful). There are "Gringo" prices as opposed to what the locals pay (not only for taxis but for different things like apartment rentals).
The population is roughly 350,000 to 400,000 (including some 4000 expats).
This photo is of "Casa de Cuenca" (courtesy of the owner: Malcolm Reding):
The rent is $595/mth ($160/week). That's US dollars (which is the currency used in Ecuador). And that includes breakfast. By the way this is a pet friendly place which, hopefully, Tiger, my cat ("mi gato" in Spanish), will enjoy as much as me.
And these are my hosts (Malcolm & Marielle):
And here is my buddy Tiger (whom I just could not leave behind):
This is the greater part of Cuenca:
I will be staying for one month at a guest house called "Casa de Cuenca" which is located a 1/4 of a mile to the right of the bottom of this photo. You can see a cathedral off in the distance and in the center of the photo. That is the center of the city (or El Centro as it is called in Spanish).
You can't see it but the airport is to the right near the top of this photo. From where I am staying it is roughly a 20 minute walk into El Centro. And walking is something I plan to do a lot of. The bus is only 25 cents. And a taxi is pretty much $2.50 to go any where in the city (taxi drivers can, apparently, take license with this - you do have to be careful). There are "Gringo" prices as opposed to what the locals pay (not only for taxis but for different things like apartment rentals).
The population is roughly 350,000 to 400,000 (including some 4000 expats).
This photo is of "Casa de Cuenca" (courtesy of the owner: Malcolm Reding):
The room I have rented has a glass door which opens onto this green area.
And this is the room I have rented:
And these are my hosts (Malcolm & Marielle):
Apparently, Malcolm can whip up a real nice meal when given the challenge.
UPDATE (May 18, 2016): The B&B I stayed at is closed now. The owner was forced to close due to not paying his taxes. In this country if you don't pay your taxes and they find out you are operating a business they will shut you down really quick. Also, sadly, his partner (Marielle) is now deceased due to a lengthy bout with cancer.
I wonder how his Spanish will be in a month or so.
Saturday 26 April 2014
Some Things I have Learned About Cuenca
Where to begin?
There is so much I have learned from perusing expat blogs, a few downloadable books and other websites. But I must put this in perspective. Some of the information you read in these blogs are opinions (which are still useful, but may not apply to yourself). Some of it turns out to be fact, but this is only known for certain when you experience it for yourself. So, that is what I am off to do.
There are good recommendations, like don't rent a long-term place until you are present in the country. Or, don't buy property until you have been in the country for at least one year no matter how attractive the offers are nor how much people tell you to buy now as the prices are going up and you will never see such a great deal again.
And of course there are lots of recommendations on what to bring with you and what not to bring. There are some things that are, apparently, more expensive (but most of this is subjective - i.e., where the person is from). And then there are some things you just can't buy in Ecuador.
People coming from the US will no doubt find some things more expensive, especially things that are imported into Ecuador. Whereas, people coming from Canada might not find things that expensive. We always pay more for items than people do in the US.
To be specific some of the recommendations have been to bring clothing (shoes, pants, shirts). Ecuadorians tend to be shorter than North Americans and also require smaller shoe sizes. So, I have loaded up on these things enough to last me for a few years as I probably won't be leaving Ecuador for the first year if not a little longer.
There is so much to cover so I will try to divide it up over several log entries so as to not make them too long.
UPDATE (May 18, 2016): Despite what I had heard, I have purchased clothes here that fit quite nicely. There are short people here but there are also people taller than myself (I am almost 6'). Imported clothes tend to be quite expensive (e.g., Tommy Hilfiger, Nautica, etc). One pair of very nice Nautica pants cost me $150 US.
There is so much I have learned from perusing expat blogs, a few downloadable books and other websites. But I must put this in perspective. Some of the information you read in these blogs are opinions (which are still useful, but may not apply to yourself). Some of it turns out to be fact, but this is only known for certain when you experience it for yourself. So, that is what I am off to do.
There are good recommendations, like don't rent a long-term place until you are present in the country. Or, don't buy property until you have been in the country for at least one year no matter how attractive the offers are nor how much people tell you to buy now as the prices are going up and you will never see such a great deal again.
And of course there are lots of recommendations on what to bring with you and what not to bring. There are some things that are, apparently, more expensive (but most of this is subjective - i.e., where the person is from). And then there are some things you just can't buy in Ecuador.
People coming from the US will no doubt find some things more expensive, especially things that are imported into Ecuador. Whereas, people coming from Canada might not find things that expensive. We always pay more for items than people do in the US.
To be specific some of the recommendations have been to bring clothing (shoes, pants, shirts). Ecuadorians tend to be shorter than North Americans and also require smaller shoe sizes. So, I have loaded up on these things enough to last me for a few years as I probably won't be leaving Ecuador for the first year if not a little longer.
There is so much to cover so I will try to divide it up over several log entries so as to not make them too long.
UPDATE (May 18, 2016): Despite what I had heard, I have purchased clothes here that fit quite nicely. There are short people here but there are also people taller than myself (I am almost 6'). Imported clothes tend to be quite expensive (e.g., Tommy Hilfiger, Nautica, etc). One pair of very nice Nautica pants cost me $150 US.
Friday 25 April 2014
The Past & The Design
Time is fast approaching my departure date of May 10, 2014.
As a young person, I used to travel to Mexico with my parents where we would stay for 4 or 5 months at a time. It was there that I established my interest in Latin-American culture. I remember the enthusiasm in the Mexican radio announcer's voice and the unmistakable rhythm in that wonderful, happy Latin music. It never left me and is, partially, what draws me southward.
I am about to leave for a new life in a new country: Ecuador. In specific Cuenca, Ecuador (at least for starters).
These days many people search out warmer climes to hang their hats and enjoy their retirement years and I am certainly no exception. Enjoying this part of our life is what we worked all those years for. So why not make the most of it. That was probably the greatest motivator to me in looking for a new place to call my home. And, of course, in order to live comfortably the cost of living is important. The less it costs to live, the more you have available for other adventures.
So why Ecuador (and in specific Cuenca)?
About a year and a half ago I started cruising the web for the preferred retirement spots that sounded close to what I was interested in and in that voracious consumption of information I found a country where the people are regarded as very friendly and very family oriented. And as I read blogs by many expats already living there, the feeling became warmer and warmer. Keep in mind that I have never set foot in the country and of course you have to be careful what you choose to believe in the information available on the web. However, despite my caution, the feeling has not changed.
Since I am not as tied to family as some and the fact that I don't own a residence, it is a lot easier for me to pull up roots and take a chance. My thoughts are, if it doesn't work out I can always go somewhere else or I can come back to Canada.
I would be lying if I didn't feel some uneasiness. So many unknowns. But that is how we never get anywhere. And I am determined not to let that get in my way. Because there could just be something better out there for me.
As a young person, I used to travel to Mexico with my parents where we would stay for 4 or 5 months at a time. It was there that I established my interest in Latin-American culture. I remember the enthusiasm in the Mexican radio announcer's voice and the unmistakable rhythm in that wonderful, happy Latin music. It never left me and is, partially, what draws me southward.
I am about to leave for a new life in a new country: Ecuador. In specific Cuenca, Ecuador (at least for starters).
These days many people search out warmer climes to hang their hats and enjoy their retirement years and I am certainly no exception. Enjoying this part of our life is what we worked all those years for. So why not make the most of it. That was probably the greatest motivator to me in looking for a new place to call my home. And, of course, in order to live comfortably the cost of living is important. The less it costs to live, the more you have available for other adventures.
So why Ecuador (and in specific Cuenca)?
About a year and a half ago I started cruising the web for the preferred retirement spots that sounded close to what I was interested in and in that voracious consumption of information I found a country where the people are regarded as very friendly and very family oriented. And as I read blogs by many expats already living there, the feeling became warmer and warmer. Keep in mind that I have never set foot in the country and of course you have to be careful what you choose to believe in the information available on the web. However, despite my caution, the feeling has not changed.
Since I am not as tied to family as some and the fact that I don't own a residence, it is a lot easier for me to pull up roots and take a chance. My thoughts are, if it doesn't work out I can always go somewhere else or I can come back to Canada.
I would be lying if I didn't feel some uneasiness. So many unknowns. But that is how we never get anywhere. And I am determined not to let that get in my way. Because there could just be something better out there for me.
Subscribe to:
Posts (Atom)