Investors Visa

[JOHN DOWNEY]

I am planning on retiring to Ecuador in a few years, however, I would like to purchase a place within the next 6 months. Will I still be able to use the property value purchased now towards my Investors Visa in a few years? If so, and the property I purchase now has a $25,000 value, and in 4 or 5 years the visa requirements are $45,000.00 (for the sake of this example) do you think I would be able to purchase an additional property valued at $20,000, or even deposit an additional $20,000 in a CD to total the $45,000 in order to meet the new requirement?

[EI EXPERT – EDD STATON]

John, purchasing a property in advance of your visa application would not pose a problem and in fact could be to your advantage. I’ve known several folks here on a temporary visa and depending on their real estate purchase to gain residency. When problems with receiving their deed occurred (it’s Ecuador–these things happen) they had to unexpectedly cough up $25K for a CD to legally remain in the country.

Any answer to your second question would be pure conjecture and idle speculation, but one cannot combine assets to meet the current $25K requirement.

[JOHN DOWNEY]

Thanks for your quick response Edd, I appreciate your help.

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