Ecuador Investor Visa vs Pensioner Visa: Which One Is Right for You?
Ecuador's Pensioner Visa requires $1,446 per month in pension income. The Investor Visa requires a one-time $48,200 investment. Here is how to choose.
Two visas, two very different requirements.
Most expats moving to Ecuador end up choosing between two residency visas: the Pensioner Visa (Jubilado) and the Investor Visa (Inversionista). Both grant temporary residency for two years, both lead to permanent residency, and both allow you to live and work in Ecuador. The difference is how you qualify.
The Pensioner Visa requires ongoing monthly income of at least $1,446 from a pension, Social Security, or equivalent source. The Investor Visa requires a one-time investment of $48,200 in Ecuadorian real estate, a certificate of deposit, or business shares.
These thresholds are tied to Ecuador's Salario Basico Unificado (SBU), which was set at $482 for 2026. The Pensioner Visa requires 3x the SBU per month. The Investor Visa requires 100x the SBU as a lump-sum investment.
Pensioner Visa: The Details
Who qualifies: Anyone receiving at least $1,446/month from a qualifying pension source. There is no minimum age requirement - this is a common misconception. You do not need to be 65 or retired in the traditional sense. You need qualifying income.
Qualifying income sources include:
- U.S. Social Security retirement or permanent disability benefits
- Government pensions (military, civil service, teachers)
- Private employer pensions (defined benefit plans)
- Annuities purchased from retirement accounts
- Foreign government pensions (UK, Canada, EU countries)
What does not qualify: IRA or 401(k) withdrawals taken on an ad hoc basis, rental income, freelance income, stock dividends, or any income source that is not guaranteed and recurring. This is the part that trips people up. The income must be verifiable as ongoing, not a one-time distribution.
At renewal: You must re-prove that your pension income still meets the threshold. If the SBU has increased (it goes up most years), your required income goes up too. Existing visa holders are generally grandfathered at their original income level, but this is not guaranteed in all cases.
Investor Visa: The Details
Who qualifies: Anyone who makes a qualifying investment of at least $48,200 in Ecuador. The investment must be maintained for the duration of your temporary residency.
Qualifying investments include:
- Real estate - A property (or properties) with a registered value of at least $48,200. A visa lien is placed on the property, meaning you cannot sell it while it secures your visa.
- Certificate of deposit (CD) - A fixed-term deposit at an Ecuadorian bank, minimum 730 days (2 years).
- Business shares - Equity in an Ecuadorian company.
Additional requirement: The Investor Visa also requires proof of minimum monthly income of approximately $482 (1x SBU) over the preceding six months. This is not the same as the Pensioner Visa's $1,446 threshold - it is a basic solvency check, not a recurring pension requirement.
At renewal: Your investment must still exist and still meet the threshold. For real estate, the property must still be in your name. For a CD, the deposit must still be active. The investment cannot be withdrawn until you obtain permanent residency.
Side-by-Side Comparison
| Factor | Pensioner Visa | Investor Visa |
|---|---|---|
| Upfront cost | None (income-based) | $48,200 minimum investment |
| Ongoing requirement | $1,446/month pension income | Investment must remain in place; ~$482/month income proof |
| Income source | Must be pension/SS/annuity | Any legal income for solvency check |
| Visa duration | 2 years, renewable | 2 years, renewable |
| Path to permanent residency | 21 months | 21 months |
| Path to citizenship | 3 years after permanent residency | 3 years after permanent residency |
| Processing complexity | Moderate - income documentation | Moderate to high - investment documentation + lien |
| Renewal complexity | Re-prove income | Prove investment still exists |
| Dependent coverage | Spouse/children can apply as dependents | Spouse/children can apply as dependents |
Which Visa Is Better for Your Situation
You are under 62 and don't have Social Security yet
Investor Visa. This is the clearest case. If you don't yet receive Social Security or a pension, the Pensioner Visa is off the table. A real estate investment or CD gets you the same residency status without needing pension income.
You have savings but low monthly income
Investor Visa. If you have $48,200 to invest but your monthly income is irregular or below $1,446, the Investor Visa's lower ongoing income requirement ($482/month solvency check) is much easier to meet. This is common for early retirees living on savings, freelancers, or people between careers.
You have strong pension income and no interest in buying property
Pensioner Visa. If Social Security or a pension already puts you above $1,446/month and you don't want to tie up capital in Ecuador, the Pensioner Visa keeps things simple. No lien, no property management, no CD lockup.
You were planning to buy property in Ecuador anyway
Investor Visa. If you are going to buy a house or condo in Cuenca regardless, the Investor Visa lets that purchase do double duty - it's your home and your visa qualification. The $48,200 threshold is well below the price of most homes in desirable Cuenca neighborhoods, so most property purchases will qualify.
Through our partnership with Ecuador At Your Service - voted Best Real Estate Company by the Gringo Post four consecutive years - we connect Investor Visa clients with vetted properties that meet the visa threshold and make sense as a purchase. The legal and real estate sides are coordinated from day one.
You are a couple
It depends on your combined situation. One spouse can hold the primary visa and the other applies as a dependent. This means a couple needs only one qualifying investment or one qualifying pension - not two. If one spouse has Social Security above $1,446, that spouse takes the Pensioner Visa and the other is a dependent. If neither spouse qualifies for the Pensioner Visa alone, a single $48,200 investment covers both through the Investor Visa.
For couples where both spouses have qualifying pensions, two separate Pensioner Visas are also an option, but it is rarely necessary.
Can You Switch from One Visa to the Other?
Ecuador allows visa category changes, but the process is not a simple swap. You would apply for a new temporary residency visa under the other category, which means meeting all the requirements of the new visa type from scratch. The practical concern is timing: if you are close to the 21-month mark for permanent residency, switching visa categories could reset or complicate that timeline.
The better strategy is to choose the right visa from the start. If your financial situation is likely to change - for example, you will begin receiving Social Security in a few years - plan for that when selecting your initial visa.
Once you obtain permanent residency (after 21 months), the underlying visa category no longer matters. Permanent residency is permanent residency regardless of how you got there. However, if your investor visa was secured by real estate, be aware that selling the property before obtaining permanent residency means losing your visa basis. Timing matters.
The Real Cost Comparison
The Pensioner Visa has no upfront investment, but it commits you to maintaining $1,446/month in pension income for as long as you hold the visa. That income must come from qualifying sources you likely already have - it is not an additional expense, but it is a constraint.
The Investor Visa requires $48,200 upfront, but that money is not gone. A CD earns interest. Real estate can appreciate and generate rental income. Business shares can produce returns. The investment is yours - it is simply encumbered by the visa lien until you get permanent residency.
For someone who qualifies for both, the question is really: would you rather keep your capital liquid and rely on pension income, or deploy capital into an Ecuadorian asset and free yourself from the ongoing income requirement?
Permanent Residency: The Finish Line for Both
Regardless of which visa you choose, the path to permanent residency is the same. After 21 months of physical residence in Ecuador, you can apply. During those 21 months, you cannot be absent for more than 90 days per calendar year.
Permanent residency costs approximately $275 in government fees ($50 application + $225 issuance), with a 50% discount for applicants 65 and older. Processing takes 3 to 6 months.
Once you have permanent residency, it does not expire. Your travel allowance doubles to 180 days per year. And after 3 years of permanent residency, you become eligible for Ecuadorian citizenship through naturalization - Ecuador allows dual citizenship.
What We Recommend
We have processed both visa types for over 25 years. The right choice depends entirely on your financial profile, your plans for Ecuador, and your timeline. There is no universally "better" visa - only the one that fits your situation.
If you are not sure which visa is right for you, that is exactly what our initial consultation covers. We review your income, assets, family situation, and goals, then recommend the strongest application path.
Keep reading:
- Guide to Ecuador Residency
- Social Security and Retirement Visas in Ecuador
- Investment Visa Opportunities in Ecuador
Not sure which visa fits your situation? Schedule a consultation or call 651-621-3652.