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Another benefit of obtaining your citizenship would be if you applied for an Investor Visa using an Ecuadorian Bank CD or Ecuadorian Real Estate Property.
Once you are an Ecuadorian Citizen, you are permitted to liquidate or sell your asset and spend it as you wish.
ne of the biggest choices facing an expat after moving to Ecuador and obtaining a Permanent Residency Visa, is whether or not to jump through the next procedural hoop of becoming an Ecuadorian Citizen.
Americans and Canadians will have no problems from their home countries, as they are permitted to apply for Citizenship in Ecuador.One important note however, is that as of the current rules for applying to become an Ecuadorian Citizen, one can NOT apply to become a Citizen of Ecuador if he/she leaves Ecuador for more than 90 DAYS TOTAL in their first 3 years since having officially received their Permanent Residency Visa stamp in their foreign issued Passport.Despite many rumours to the contrary, you will always be permitted by the Citizenship Law in Ecuador, to have Dual Citizenship in Ecuador, regardless of what other country you are currently a Citizen of.The determination, rests with you, as to whether it is better to apply for Ecuadorian Citizenship or to remain a Permanent Resident of Ecuador.Make sure to consider your options, and consult with competent legal counsel, prior to making an actionable decision for the benefit of yourself and/or your family.
If they exceed 180 days out of the country for both of the first two years, they will lose their visas.