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Ecuador: Organic Law for the Balance of Public Finances:
Actually, the law is a bit vague in the wording, if it stays "as is". This is an article from a Correa friendly press source:
http://www.elciudadano.gob.ec/la-asamblea-analizara-el-proyecto-de-ley-organica-para-el-equilibrio-de-las-finanzas-publicas/
The key phrase on the free flow of capital outside of Ecuador is as follows:
"También dispone que los ciudadanos ecuatorianos y extranjeros podrán sacar del país (traslados de efectivo por puertos, aeropuertos y pasos fronterizos) hasta tres salarios básicos unificados (1.098 dólares) sin pagar impuestos. "
The general translation is that "...Ecuadorian citizens and foreigners...." will not be able to take cash out of the country " tax free" over an amount that is "$1,098 US$". The key word is "foreigners" and how that will be defined. Do they mean just foreign residents of Ecuador or do they mean even "foreign tourists". If the latter, then this will about kick out the last leg upon which Ecuador's economy rests - tourism. Too early to determine the intent of the wording, so I will hold out judgement for when it meets fact.
Ecuador: Survey Says - Ecuador darling of expat destinations:
I feel the need to respond, though I have sort of long abandoned this forum. I want to respond because I think Nicholas raises some interesting and salient points, yet, the unintended distortion to the same leads to some assertions that I feel are inadvertently misleading.
In order, I concur with Nicholas that data for this survey, and all surveys, ought to be scrutinized and questioned. A poorly done survey has zero statistical validity from which to draw a conclusion. Asking who was surveyed and how the surveys are conducted is critical to validity. Well noted, by Nicholas.
Where the divergence begins is on the three points Nicholas wishes to call attention to as "negative" factors for a relocation to Ecuador. Addressing them, one-by-one: 1) Cotopaxi. Even a major eruption will cover a proportionately limited geographic scope. Most Expats and investors do not rely on the propensity for natural disasters, as a primary agent for decision-making. They rely on cost of living, investment value, climate, access to diverse biospheres, ease of obtaining a Visa and, at times, a determination as to whether friends/family would relocate there (perhaps, they already have). If propensity for natural disasters were an indicator of willingness to relocate, Florida would boast zero retirees due to Hurricane season and San Francisco, currently one of the most economically vibrant cities in the USA, would be a wasteland due to earthquakes.
2) El Niño? See my response to #1, ditto...plus El Niño happens once every 20 years or so. For many, this will exceed their timespan for Expat relocation to the region. Also, not all El Niños, in fact, not most, are anywhere near as destructive as the "famed one". Then there is the propensity to predict them, when they don't come. Three years running now, El Niños were predicted. None have arrived...yet. Again, I can't see this as a major relocation variable, for the vast majority.
3) My personal favorite. "The Troubles". "The Unrest". Perspective. For 5 weeks the lifeless, impotent and politically disconnected Ecuadorian opposition boasted about the massive "strike" and the "long march". The march was 300 people, give or take. Verified by such anti-Correa sources as El Comercio. The strike? Well, apparently, the only folks not working, were the same 300 marching and the oligarchs that occasionally joined them, since the latter apparently have no need to work or positively contribute to Ecuadorian capitalism and society. There is no instability. If Correa called elections tomorrow and ran again, he'd win by the same, if not a larger, margin. If another PAIS candidate runs shave 3-5% max. Political instability is only in the minds of an ineffectual political opposition that cannot coalesce behind any vision or candidate capable of moving Ecuador forward. Simply trotting out the same, old tired candidates that destroyed Ecuador as recently as 1999.
Nicholas, even when we disagree - and it happens semi-regularly - you tend to argue from valid points. Here, I am lost. I don't think those variables make the top 5, maybe not top 10, for reasons why Expats relocate here and investors drop coin here.
Quito ironically, our consulting services client base, was made privy the first week of January of 2015 that Ecuador had fallen from our #1 global investment location to #4. I suspect, it could fall as low as #8 - # 10, by our January 2016 analysis. So, I am not just being a "homer" for Ecuador. We have devalued it a bit, but its continued high ranking as a retirement and investment locale is not unwarranted. Ecuador has much to offer.
And in closing, I can't resist. Cuenca. We predicted that trend 5 years ago and were labeled crazy. Public forums like this one. Cuenca is a great place to rent, but for real estate purchases, it is a losing proposition. Quite literally, Ecuador's most overvalued city. We know who we have to thank for all the hype.
Ecuador: Property by the beach:
jmandroid,
Personally, I don't like Mompiche. You take away the DeCameron Resort and the area has little to offer or economically developing. However, while I am in the real estate industry, my perspective might be noted, but it doesn't matter. What lifestyle do you seek? What drives you towards Mompiche? How might another region better and/or worse suit your specific situation? The advice you
received about "boots on the ground" is priceless. Bad deals are not limited to the coast or Quito, in fact, I found both to be rather good places to do business. Other areas of Ecuador worry me a great deal more. Anyways...tread patiently and carefully, especially if you intend to represent yourself.
Hector G. Quintana
rdrhgq@gmail.com
Mexico: Maya Riviera - Mexico [Article]:
http://www.escapeartist.com/play/2014/11/22/undiscovered-mexico-coconut-tequila-sand-turtles-cenotes/
Ecuador: Beach Houses For Sale Househunters International Style:
The realtor is from my firm. Not a scam, but the most qualified and active firm on the coast. We will not license until it is designated by law. While a repeated effort is made to confuse the issue, licensing is most certainly not required by law and many who have received a license took the course without even understanding Spanish. The course is taught in Spanish, so draw your own conclusions. HHI is a show I have done even before this last episode. Some folks support different real estate businesses that have not qualified or even been invited to HHI. I am sure if their favored real estate folks were on the show, hypocrisy would win the day, and HHI would be the greatest thing since sliced bread. Anyways, point is...HHI has always been "staged". For example, you take an individual that has looked at 50 properties over 6 months (many that have sold) and you have to distill that down to 3 properties. Sometimes they pick off market assets that were seen in the past by the show participants, in order to create an ideal image. Poetic license so to speak. I am sure most viewers don't really believe that HHI buyers only look at a total of 3 properties...blink... and pick one. I apparently have a higher opinion of the viewership's intellectual capacity than some that posted on this thread.
Hector G. Quintana
rdrhgq@gmail.com
Ecuador: If Not Cuenca....?:
Susan/OceanHideaway,
I don't see why you expected some kind of "war"...lol...over your statement? It is a tired and worn debate that can be read in archived threads throughout the InterNet. I don't debate that some have chosen to spend money and time getting licensed by a non-government approved or regulated, self-appointed private body, when the defining Law of Commerce does not call for real estate agents to be licensed in Ecuador. You have your opinion on the value of such activities and I have mine. No war...or popcorn required. Did find it odd you thought to mention me, but glad I was on your mind.
Hector G. Quintana
rdrhgq@gmail.com
Ecuador: Patrick MINGA:
Ummmmmm...to the regulars on this website, who have been on here for a few years, immmmmmmm...nah...forget about it.
Hector G. Quintana
"Yep, still here." - Hector G. Quintana
Ecuador: ANYTHING that inhibits free speech and transparency is bad:
Omega,
This tired argument again? We accept "Truth in lending", "Truth in advertising", hand on bible "truth in courtroom testimony", etc., but we are supposed to accept utter bs from the rag trade media because...what? It comes from the "Holy Fourth Estate"?
Freedom of speech is not intended to support the principal purpose of creating unnecessary panic or wanton endangerment. Thus ruled the 1919 U.S. Supreme Court, when Oliver Wendell Holmes, Jr.'s famous quip about "..."falsely shouting fire in a crowded theater..." was first heard, during the Schenck v. United States case. Note the proper inclusion of the word "falsely", which is often erroneously omitted from the Holmes quote. It is integral to understanding the "ground-shaking" (couldn't resist) argument. The same argument was again largely upheld in Brandenburg v. Ohio. It has generally been accepted as sound legal principle throughout much of the world.
But God forbid that President Correa try to issue some common sense policy, which amounts to a watered down version of creating a modicum of minimum standards for the press, as occurs more heavy-handedly in a bevy of "First World" Western nations on a daily basis...and...well...all bedlam breaks loose. The fist pounding and chest-thumping begins, with assertions of "The end of free speech as we know it". No, we are just trying to keep a handful of idiots from a revisionist and false rewriting of reality, with a clear intent to incite panic and create an atmosphere of clear and present endangerment, all under the sainted banner of "freedom of the press". The press, imho, lost that "freedom", when it conveniently forgot the first rule of journalism: Fact checking comes before publication, not the other way around. I assure you that the U.S. Founding Fathers were unlikely to be considering The National Enquirer's right to publish the latest intrigue of how "Michael Jackson was the love child of Elvis Presley and an Alien Space Princess", when they sat down to craft the 2nd Amendment of our Bill of Rights.
Hector G. Quintana
RDRHGQ@gmail.com
"Freedom of the press is limited to those who own one." - A. J. Liebling
Ecuador: Excellent Ecuador Video - Spanish Only:
Interesting video (in Spanish only) on Ecuador, economic development and the migration pattern from southern Europe to Ecuador. Cut and paste link:
https://www.youtube.com/watch?v=Ss8rnH0oxco&feature=player_embedded#!
Hector G. Quintana
RDRHGQ@gmail.com
“Without deviation from the norm, progress is not possible.” -- Frank Zappa (Yes...THAT Frank Zappa)
Ecuador: Need feedback about Nora Minga:
Omega,
You wrote "Justathought, would you stop with this "LOL" crap? It makes you look like Hector Quintana. Do you really want to do that? Are you really laughing out loud that frequently in inappropriate situations? If so, I'm sure someone can recommend help for that..."
Well...ummmm....yeah. Laugh like a jackal routinely. People are funny as all heck. So...lighten up you ol' curmudgeon.
Hector G. Quintana
RDRHGQ@gmail.com
I don't trust anyone who doesn't laugh. -- Maya Angelou
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