Ecuador can be a great place to run a business. The country is fairly unregulated, and there are loads of untapped opportunities.
However, we caution you that larger businesses can be difficult. Ecuador still has a problem with corruption, and government processes are inefficient and time-consuming.
Smaller businesses (mom-and-pop operations with few or no local employees) tend to be much easier to operate, since they tend to have less government or municipal interface.
Lief Simon is the managing editor of Global Property Advisor, Simon Letter, and Offshore Living Letter. He has purchased more than 45 properties, investing in 23 different countries around the world.
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There were three business ideas that immediately jumped out to us when considering Ecuador:
English-speaking Realtor. Many expats report not being able to find English-speaking realtors. Others claim many of the Spanish-speaking realtors can be slackers
The first people to tackle this will have the market to themselves. If you go in with an Ecuadorian partner, you could probably make strong inroads into the local market as well, by setting a high standard of operation.
Spanish language School. Loja, for example, is one of the best places in the world to learn Spanish, so the first person to open and market a small school will, again, have the market to themselves.
Short-term Rentals. Short-term rentals are hard to find. And by that we mean quality, modern, tastefully furnished rentals outfitted to North American standards.
For instance, this is a perfect solution for the part-year resident who wants to rent their property out when not in town.
There are probably dozens more good ideas. All you need is an entrepreneurial spirit and a bit of time and you’ll be on your way.
Start Your New Life Today, Overseas
Lief Simon is the managing editor of Global Property Advisor, Simon Letter, and Offshore Living Letter. He has purchased more than 45 properties, investing in 23 different countries around the world.
We Value Your Privacy! We will not share your email address with anyone else, period.
To attract foreign investors, the Ecuadorian government makes it easier to do business. They provide tax exemptions, favorable laws, and grants for new businesses. These measures help to minimize the risks of operating in Ecuador.
Ecuador’s economy benefits from using the dollar, which is good for U.S. businesses and investors. Despite facing challenges, there are numerous opportunities available in Ecuador.
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