How to prove I have steady income for my Permanent Residency Visa process?
Here at EcuaAssist, we get a lot of questions! And we want to make sure you have those answers in an easy to access place. We will be starting a FAQ series. The purpose of this series is to simplify and present the most important information of immigration law for those who do not speak Spanish or those that find the immigration system difficult to navigate.
Despite many attempts by the government to make the immigration system efficient and user friendly, it has not quite met that goal. By providing our readers with clear and concise information, we hope that all foreigners are able to understand the most up to date immigration rules. Bureaucracy can turn the dream of living in Ecuador into a nightmare the moment people apply for a visa. At EcuaAssist, we strongly believe that the bureaucracy of immigration should not impede or deter anyone from the dream that is living in this beautiful country. Although public policies across countries are becoming more restrictive daily, we believe that every person is a universal citizen and should be able to choose where they would like to live.
What is Steady Income?
One the most important requirements for the permanent residency visa is the steady income support documents.
Steady income is the income you receive monthly to live in this country. According to the Acuerdo Ministerial 85, there are different types proof for steady income that can be filed at the moment of the visa application:
· Record of IESS contributions based on a minimum monthly salary ($400 as of 2020). A contribution deducted from an employee’s salary from the last 6 months.
· VAT tax monthly declaration from 6 months previous to the visa application. Which must justify an income higher or equal than a minimum monthly salary.
· Last 12 bank statements that show a monthly income of the minimum monthly salary ($400 as of 2020) or higher.
The permanent residency process is not difficult, but must be done carefully as the Ecuadorian system is very strict. A missing requirement can result in a rejected visa process. This is why we want you to understand all requisites they ask for and the restrictions to be respected. This can be the hardest requisite to justify. Please be sure to give it the time and importance it needs.
The EcuaAssist Team
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DISCLAIMER: The information contained in this article is factual and up to date for the date in which it was published. In the case that it is read following the date of publication, we recommend that readers contact us for an updated version of immigration policy in ecuador.
Furthermore, this article does not constitute legal advice; instead, all information, content, and materials available on this site are for general informational purposes only. We hope to provide foreigners with clear and concise information regarding the migratory process so that they may live in this paradise known as Ecuador.