Ecuador Real Estate - What to Know When Buying, Selling, and Renting as an Expat

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Warren & Julie Travel - Slow Travel Nomad Expats

4 жыл бұрын

We visited the Ecuador Legal Team again, and this time we spoke about Ecuador Real Estate. If you are thinking of buying, selling, or renting a property in Ecuador we produced this video for you. If you have questions regarding any legal matter in Ecuador contact out friends at The Ecuador Legal Team.
Email: ecuador@gracenelsonlaw.com website gracenelsonlaw.com on the
Ecuador Phone: 07-407-9358
Cell & WhatsApp: +593-99-611-0451
US Phone Number: 651-621-3652
Ecuador Legal Team also specializes in Ecuadorian law pertaining to:
1. Legal Immigration to Ecuador (Visas & Citizenship)
2. Real Estate Law
3. Civil Law
4. Customs Law
5. End of Life Planning
6. Corporate Law
7. Labor Law
8. IESS Government Health Insurance
9. Bank Accounts
10. Tax Law
11. Business Licenses
12. Translations
GRACE VELASTEGUI
Attorney at Law
Luis Cordero 6-41
Cuenca, Ecuador
Telephone: 407-9359 Mobile: 0996110451 Magic Jack 651-621-3652
Grace Velastegui is a bilingual attorney practicing in Cuenca, Ecuador. Since 2003 she has
been specializing in residency visas and real estate for foreigners immigrating to Ecuador.
In addition to her work as an attorney, Grace has also worked in the Customs Department
in Ecuador and has experience as a University Professor teaching English, External Trade
and Spanish as a Second Language for the Foreign Program of the University of Lewis &
Clark. She is also a qualified mediator for resolving disputes. She not only received her
education in Ecuador but has also studied as an exchange student in the United States.
Education: Doctor of Jurisprudence from University of Cuenca, Ecuador
University of Loja and the Pontifical Catholic University of Ecuador:
Superior Diploma of Fourth Level Innovative Teaching Methods
University of Cuenca: Diploma of English Proficiency
Tabb High School: Exchange Student Virginia, United States
Abraham Lincoln North American Educational Center: Graduated
English Studies.
*Legal Disclaimer:*
The information provided in this video is for general informational purposes only. All content is provided in good faith, and we make no representation or warranty of any kind regarding the accuracy, adequacy, validity, reliability, availability, or completeness of any information on the video.
We are not responsible for any business dealings or transactions that may occur between you and the guest featured in this video. Any engagement or interaction with our guest is solely at your own risk. We advise you to conduct your own due diligence and seek professional advice before making any business decisions or entering into any agreements.
By watching this video, you agree to release us from any and all liability arising from your interactions with our guest.
Thank you for understanding.
Julie and I retired early not by luck but by planning.
One of our spokes to our wheel for savings, and now an income stream
is Fundrise. Basically we are invested in many apartment complexes around the country.
We get a portion of the rents in the form of dividends, and growth in value with the appreciation
of the properties. We currently have selected an income REIT (Real Estate Investment Trust)
which historically pays between 7.5% - 9% annually in dividends. You can chose a balanced REIT which has a split between appreciation and dividends or a REIT where it's focused on appreciation and not dividends.
Check it out to see if it's a fit for your savings, or retirement strategy. Feel free to share this with those you feel may benefit from this program.
fundrise.sjv.io/PXgm6
To Contact Warren & Julie Email: warrenjulietravel@gmail.com
Facebook Group: / warre. .
Video Music: InShot Classics - Journey 01

Пікірлер: 59

@lauragwillim1055 3 жыл бұрын

Great information! I just discovered your channel as I’ve been researching on retirement and looking outside the US. I watched both interviews. Really excellent info that I was looking for. Thank you!

@WarrenJulieTravel 3 жыл бұрын

Thanks for watching and commenting 😊

@1badjesus 5 ай бұрын

Thanks for the great info! 👍🏼

@WarrenJulieTravel 5 ай бұрын

Glad it was helpful!

@brianescobar3450 4 жыл бұрын

Great video guys and thank you for the information 😁

@WarrenJulieTravel 4 жыл бұрын

Thanks we appreciate you 😁

@vivianlopez2706 4 жыл бұрын

Hello Brian Escobar and thank you for your comment, my name is Vivian Lopez, I´m Assistant to Grace Velastgui. We´ll be happy to provide you additional information or answer questions when the time comes if you email us at: info@ecuadorlegalteam.com. Thank you again!

@QuinnPrice 2 жыл бұрын

Awesome. Grace is so helpful. Great video.

@WarrenJulieTravel 2 жыл бұрын

Thanks for watching 😊

@overcastfriday81 3 жыл бұрын

Ensenada deal was sketchy to start...but several other cases where mexican govt trampled on mexican and american home owners. Unless you buy into a big new condo, it is just too risky to buy in mexico. The laws discourage foreign buyers. What more hints could be needed!?

@WarrenJulieTravel 3 жыл бұрын

Yes that’s what I recalled as well. Fortunately I’m unaware of anything similar in Ecuador.

@maryhernandez4854 3 жыл бұрын

Love this video pls tell me if you guys sell hoses in Guayaquil around El Malecón I would love to retired in Guayaquil,I live in Canada thank you

@WarrenJulieTravel 3 жыл бұрын

Thanks, we are travelers not real estate agents. 😁

@animal9370 3 жыл бұрын

My question is... Can I have an American citizenship and a Ecuador citizenship at the same time??? Can the purchase property be a $40.000 land/Lot or terreno to build a house later??? What would be the Total after the $40k property purchase? after lawyers fee taxexs and everything else??? Thank you.

@WarrenJulieTravel 3 жыл бұрын

I’ll ask Grace to look at your questions. Thanks

@karthickkarthick2783 4 жыл бұрын

Bank statement is enough or some legal document of Bussiness or rent is submit compulsory or not

@WarrenJulieTravel 4 жыл бұрын

I will try to get Grace to respond to your question

@vivianlopez2706 4 жыл бұрын

Hello Karthick and thank you for your comment, my name is Vivian Lopez, I´m Assistant to Grace Velastgui. Regarding your inquiry, a legal contract or work contract as long as it´s long term, this is to legally proof your income and also you´ll be requested a bank deposit. We´ll be happy to provide you additional information or answer further questions if you email us at: info@ecuadorlegalteam.com or if you wish you can provide your email address and I can send you further details regarding rental income visa. Thank you again!

@msiahpush 4 жыл бұрын

A question not about real estate: What kind of health insurance do you have for your travels? Muchas Gracias.

@WarrenJulieTravel 4 жыл бұрын

Currently we are using Blue Box, Confia Med while we are in Ecuador. We are still evaluating our coverage options upon leaving Ecuador. Our next projected country is Columbia if we are allowed to travel there in late September.

@msiahpush 4 жыл бұрын

Thank you. I have heard that Colombia will open their borders September 1st, but it certainly can change. My first stop will be Colombia -- Envigado, right south of Medellin.

@davldmorand8125 3 жыл бұрын

What are returns as a percentage of purchase price? Typically or on average? What is the income tax rate, over $11,300? Perhaps you have a video on real estate in Ecuador as investment??

@WarrenJulieTravel 3 жыл бұрын

I think it’s best to rent first, it’s very affordable. Real estate here has low appreciation so I’m not sure it will often prove to be a great income producer. IMO

@davldmorand8125 3 жыл бұрын

@@WarrenJulieTravel Low appeciation... ok done. I cannot invest in US market to my knowledge so trying to figure out where to park the money. Thank you for your response.

@WarrenJulieTravel 3 жыл бұрын

@@davldmorand8125 I normally have this pasted in all my video descriptions. Also the CDs in Ecuador Credit Unions pay around 8.5% Julie and I retired early not by luck but by planning. One of our spokes to our wheel for savings, and now an income stream is Fundrise. Basically we are invested in many apartment complexes around the country. We get a portion of the rents in the form of dividends, and growth in value with the appreciation of the properties. We currently have selected an income REIT (Real Estate Investment Trust) which historically pays between 7.5% - 9% annually in dividends. You can chose a balanced REIT which has a split between appreciation and dividends or a REIT where it's focused on appreciation and not dividends. Check it out to see if it's a fit for your savings, or retirement strategy. Feel free to share this with those you feel may benefit from this program. fundrise.sjv.io/PXgm6

@MyPantera28 3 жыл бұрын

Quien Puede Decirme Si Un Ciudadano Americano Puede Comprar Propieda en Ecuador or Si Necesita Visa Pienso Retirarme en Ecuador Este año y Quisiera Toda la Informacion Posible Gracias...🤔🤔🤔🤔

@WarrenJulieTravel 3 жыл бұрын

Contact Grace, her contact is in the video description.

@karthickkarthick2783 4 жыл бұрын

Hi. Rental income visa. In my bank account generates 400 dollars this proof enough or otherwise I need present proof of that income like business or rent

@WarrenJulieTravel 4 жыл бұрын

I will try to have Grace respond to your question.

@vivianlopez2706 4 жыл бұрын

Hello Karthick and thank you for your comment, my name is Vivian Lopez, I´m Assistant to Grace Velastgui. Regarding your inquiry, both should be presented, a legal contract or work contract as long as it´s long term, this is to legally proof your income and also you´ll be requested to make a bank deposit. We´ll be happy to provide you additional information or answer further questions if you email us at: info@ecuadorlegalteam.com or if you wish you can provide your email address and I can send you further details regarding rental income visa. Thank you again!

@dr.gracevelastegui4665 4 жыл бұрын

You need to provide proof of income apostilled.

@williamdelgado1184 2 жыл бұрын

Can I buy a home in ecuador in my name been married in USA but legally separated .we leave in different cities in usa .can someone ask my questions or give me idea

@k_and_m8745 4 жыл бұрын

What was the transfer fees for purchasing? Heard it mentioned quite a few times but did not hear an amount/percentage.

@WarrenJulieTravel 4 жыл бұрын

I’ll reach out and ask Grace or her assistant to respond. I’m not sure if they will respond however prior to Tuesday, since Monday is a Holiday in Ecuador.

@dr.gracevelastegui4665 4 жыл бұрын

The transfer fee is 1.1% of the price of the transaction.

@k_and_m8745 4 жыл бұрын

@@dr.gracevelastegui4665 Thank you for providing that information. Great interview too by the way.

@playwithpets 3 жыл бұрын

Does Ecuador tax its tax residents on their world wide income? Some said Ecuador has some kind of territorial tax system.

@WarrenJulieTravel 3 жыл бұрын

I don’t believe so, there is a tax on profits when you sell a home or income earned in Ecuador. I’ll have Grace confirm though.

@LAGirls-lv5gh 2 жыл бұрын

Could American apply mortgage in Ecuador?

@WarrenJulieTravel 2 жыл бұрын

No, not to my knowledge.

@CatalinaKirsch Жыл бұрын

Does Ecuador Legal Team have offices in Quito?

@WarrenJulieTravel Жыл бұрын

I believe Grace may have an office there. Please contact her for more information. Her information is in the video description. Thank you for watching.

@aylex1974 10 ай бұрын

You're going to make more money a least serví para algo. Mas dinero para ti y para tu familia. Eres un gran negociante. Tu tiempo no se perdio conmigo. Te hice dinero

@AdamAdam-zg8jl 4 жыл бұрын

And you also forgot to.mention that you will.have to pay double taxes to equador and u.s as well 😉

@WarrenJulieTravel 4 жыл бұрын

Thanks, that’s a US issue and we tried to focus on the Ecuador laws keeping in mind there are many Canadians, and Europeans interested In residing in Ecuador.

@lauragwillim1055 3 жыл бұрын

As long as you are a US citizen you will have to pay taxes both countries. However it’s far less in Ecuador. There’s always the option to renounce your US citizenship and divorce the USA completely. Then you’re no longer a slave to the US tax system.

@AdamAdam-zg8jl 3 жыл бұрын

@@lauragwillim1055 wish i could 🙁,you have to have a another citizenship beside u.s citizenship and pay amount $2700 to the u.s embassy as application fees and wait three months all that must perform out of united states.renoucing u.s citizenship it's perfect for wealthy Americans not middle class like me 🙁.i will be flying to cuenca ,Ecuador on Feb 13th 2021 to apply for my first temporarily visa

@lauragwillim1055 3 жыл бұрын

@@AdamAdam-zg8jl I’m looking very seriously at Ecuador for a 2nd citizenship. Maybe Mexico too. I don’t know if I’d divorce myself from the US but at least if I have a 2nd citizenship I’d have choices. The US has become so toxic. I’m reaching my limits!!🤣

@AdamAdam-zg8jl 3 жыл бұрын

you need to look for powerful passports ,with respect to Ecuador, equadorian passport is not ,you can't travel to European countries without obtaining visa in advanced and it is not easy to compliance with each embassy requirement plus you will be stop for questioning in every port of entry.Ecuadorian passport is limited to certain countries ,but it is free visa to all south America, but limited to africa,Asia, and Europe and middle east as well .

@robheartkey9467 3 жыл бұрын

Hi Grace, It's Rob & Janine. Grace and Nelson help us buy the beach front properties in Crucita in 2007. Wow! that's 13 years now. So we now have our UK ILR (5 years ...) and hope to seriously sell the villa soon. Ana Mendoza is doing the work for this and she is fully qualified Lawyer now. kzfaq.info/get/bejne/Z7iKi5Wbppu3j6s.html. I will email soon. Lots of Love Janine & Rob