New Ecuadorian minimum wage, and changes in fees and more

Hi all,

From January 2023, the new Ecuadorian minimum wage, will be $450. It is an increase of more than was expected, but also was a promise of Guillermo Lasso campaign to become president, to increase the minimum wage to $500 in his 4 years as Ecuadorian president.

So, the minimum wage in 2024 will be $475 and in 2025 will be $500. But, for now, this increase affects the fees, taxes and more, based in the Ecuadorian Minimum Wage, from January first 2023:

The minimum income for a retirement visa, will be $1,350. The Investor Visa in a CD or property will be $45,000.

Also, traffic fees, Notary fees, and more, based on percentages of the minimum wage, or one, two or three minimum wages, will have some increase.

Any questions, please email…

Ulises Acosta: .

City: Cuenca
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