Expat Advice: Financial Issues in VILCABAMBA, Ecuador

What is the name of the city or town that you are reporting on?

VILCABAMBA

Which banks do you use? If you have a local account, which bank do you use? How do you like it? Do you also have an account in your home country? Which bank? Do they charge for ATM withdrawals? Do they charge a lot for international wire transfers? How has it been working with them from abroad? Do you use a special international wire transfer service? Do you use an online bank? If so, tell us about them.

We have an account in the bank of Loja. It is good to have a local account to pay bills here. We also maintain an account with a local bank in WA state, and with Wells Fargo. We can draw money from each at a cash machine. We use Xoom for international money transfers.

Ecuador Visas - Law office of Attorney Sara Chaca
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With Offices in BOTH Ecuador and the US, Ecuador Visas with Attorney Sara Chaca is the No. 1 Visa Law Firm for Your Move! Specializing in Ecuador Residency Visas plus converting from Temporary to Permanent Residency, Containers, Real Estate Closings, Wills and Estate Planning, Driver Licenses, Opening Businesses & Citizenship!

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Ecuador Visas - Law office of Attorney Sara Chaca

With Offices in BOTH Ecuador and the US, Ecuador Visas with Attorney Sara Chaca is the No. 1 Visa Law Firm for Your Move! Specializing in Ecuador Residency Visas plus converting from Temporary to Permanent Residency, Containers, Real Estate Closings, Wills and Estate Planning, Driver Licenses, Opening Businesses & Citizenship!
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Click connect to have our partner contact you via e-mail and/or phone.

What sort of challenges or frustrations have you encountered as an investor living overseas? Please describe.

Have had to jump over many hurdles to get a tax number. The ROC so I can collect the sales tax and deliver it to the government. I do not understand this. I am just trying to obey the law.

What advice was particularly helpful to you in managing your finances? What advice would you give? Any other thoughts?

Live like a local and you can live cheap. Live like a gringo and it can get expensive.

Do you do your own taxes, use a local firm, an expat-oriented firm or does your employer handle this for you (i.e. via an corporate tax firm)?

I have an Income Tax Office in Vilcabamba. I do US and international taxes. I have 20 years experience doing US taxes, and also still maintain an office in Sedro Woolley WA. Speedee Tax Service it known to be the most accurate tax office in the North West.

What advice could you offer others about doing your taxes as an expat?

Send you taxes to Speedee Tax Service, in Vilcabamba and we will take good care of you. US ph: 01-360-826-4954. Ecuador ph: 098-761-7859 Larry Dennis