Common Investor Visa Mistakes
Learn from others' errors. These mistakes can delay your application by months or result in rejection. Avoid them at all costs.
These mistakes will almost certainly result in visa rejection. Do NOT make these errors.
1. Making Investment AFTER Applying for Visa
The Mistake: Applicants apply for the visa first, then try to make the investment while their application is being processed.
Why It Fails: The government verifies your investment is in place BEFORE approving your visa. If they can't verify it, instant rejection.
✓ The Right Way:
Complete your $46,000 investment first. Get all documentation proving the investment (bank certificate, property deed, etc.). THEN apply with investment proof in hand.
2. Using Non-Approved Bank for CD Investment
The Mistake: Opening CD at a bank that isn't supervised by Ecuador's Superintendencia de Bancos.
Why It Fails: The law specifically requires banks regulated by Superintendencia de Bancos. Credit unions and non-regulated institutions don't qualify.
✓ The Right Way:
Verify the bank is supervised by Superintendencia de Bancos BEFORE opening your CD. Major banks (Banco Pichincha, Produbanco, Banco Guayaquil) are all approved.
3. CD Lock Period Less Than 730 Days
The Mistake: Getting a 1-year CD or shorter term thinking it meets the requirement.
Why It Fails: The law explicitly requires 730 days (2 years) minimum lock-in period for bank CD option.
✓ The Right Way:
Specify "plazo fijo de 730 días" (730-day fixed term) when opening your CD. Get written confirmation from bank that term is exactly 730 days or longer.
4. Investment Under $46,000
The Mistake: Investing $45,000 or assuming "close enough" will work. Or not accounting for the fact that the Basic Unified Salary changes annually.
Why It Fails: The requirement is 100 Basic Unified Salaries. In 2024, that's $46,000. If you invest even $1 less, rejection.
✓ The Right Way:
Always invest MORE than the minimum to account for exchange rate fluctuations. $47,000-$48,000 gives you safety margin. Check current Basic Unified Salary before investing.
5. Background Check Older Than 6 Months
The Mistake: Getting FBI check early (which is smart), but then waiting too long to apply, causing it to expire.
Why It Fails: Background check must be issued within 6 months of your application date. If older, they reject it.
✓ The Right Way:
Time your FBI check request so it arrives 2-3 months before you plan to apply. This gives you buffer for apostille and travel while keeping it within 6-month window.
6. Withdrawing Investment Before Visa Renewal
The Mistake: Cashing out CD or selling property as soon as 2-year visa is granted, thinking the requirement is fulfilled.
Why It Fails: You must maintain the investment for the entire duration of your visa validity. Early withdrawal = visa cancellation.
✓ The Right Way:
Keep your investment intact for the full 2 years of your visa. Only liquidate after you either (a) renew your investor visa with a new investment, or (b) transition to permanent residency.
These won't necessarily kill your application, but they'll cause major headaches and delays.
7. Not Getting Documents Translated by Ecuador-Registered Translator
Having documents translated in your home country or by non-certified translator in Ecuador. They reject these translations.
Solution: Wait until you're in Ecuador. Find certified translator registered with government. They have official stamps and registration numbers.
8. Apostille on Copy Instead of Original
Getting apostille on a photocopy of your FBI check thinking it will save the original document.
Solution: Apostille must be on the ORIGINAL document, not a copy. You can make copies later, but apostille goes on original.
9. Buying Property Without Proper Legal Review
Rushing to buy $46,000 property without lawyer review, title search, or lien check. Discovering problems after purchase.
Solution: Hire Ecuador lawyer for full due diligence. Verify clean title at Registro de la Propiedad. Check for liens, debts, legal issues. Worth the $500-$1,000.
10. Not Maintaining Ecuador Address Throughout Process
Providing address in application then moving without updating government. They can't reach you for questions or approval notice.
Solution: Keep same Ecuador address throughout entire process. If you must move, immediately update Ministerio with new address in writing.
11. Incomplete Application Form
Leaving fields blank on application form or using "N/A" excessively. Officers may reject incomplete forms.
Solution: Fill out EVERY field on application form. If truly not applicable, write "No Aplica" in Spanish. Include all requested information.
12. Choosing Company Investment Without Business Experience
Forming Ecuador company to meet investment requirement without understanding local business laws, accounting requirements, or ongoing compliance.
Solution: Company investment only makes sense if you actually want to run a business in Ecuador. Otherwise, stick with bank CD or real estate.
Learn from real experiences (names changed for privacy).
Sarah's $45,500 CD Mistake
Los Angeles, USA → Cuenca, Ecuador
What Happened: Sarah opened a CD for $45,500, thinking it was close enough to the $46,000 requirement. Application rejected.
The Cost: Had to open new CD with additional $1,000. Lost 3 months waiting for new CD documentation. Paid duplicate translation fees ($200).
Lesson Learned: "Always invest MORE than the minimum. I wish I had done $47,000 from the start. The extra $1,500 would have been worth the peace of mind."
Michael's Expired Background Check
Toronto, Canada → Quito, Ecuador
What Happened: Got FBI equivalent check early (smart!), but property purchase took longer than expected. Check was 7 months old when he applied.
The Cost: Had to order new background check. Another $75 fee. Another 12 weeks wait. Another apostille ($50). Total delay: 4 months.
Lesson Learned: "I should have chosen bank CD instead of real estate. Property purchase took 3 months, and by the time we closed, my background check was too old."
James' Smooth Process
London, UK → Guayaquil, Ecuador
What He Did Right: Ordered background check immediately. Chose bank CD option. Invested $47,500 (extra cushion). Had all documents ready before arriving in Ecuador.
The Result: From arrival in Ecuador to visa approval: 6 weeks. No rejections, no delays, no corrections needed.
His Advice: "Do everything in the right order. Don't cut corners. Bank CD is BY FAR the easiest option. My total cost was $1,200 in fees plus the $47,500 investment, which is earning me interest."
Patricia's Company Investment Nightmare
Miami, USA → Cuenca, Ecuador
What Happened: Formed Ecuador company to meet investment requirement. Didn't understand ongoing compliance. Company fell out of good standing during visa processing.
The Cost: Had to hire accountant to fix company status ($800). Application delayed 2 months. Annual compliance costs she didn't budget for ($1,200/year).
Lesson Learned: "Unless you genuinely want to run a business in Ecuador, DO NOT choose the company option. Bank CD would have been so much simpler and cheaper long-term."
Before submitting your application, verify you've done ALL of these:
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