Joint land ownership

Member since 26 September 2017

coulinMember26 September 2017 09:33:18

Hey everyone .
My friend bought land back in 2011 , and he plans to sell half the land to me so we can start a joint business venture.

Does anyone have any experience on how we would go about this ?

How long would the paperwork side take?

Would it still be valid for my 25k usd investment for permenent residency? ( assuming i pay more than 25k )

Thanks in advanced everyone !!

cccmedia Ecuador/Colombia Expert

Member since 13 March 2014

cccmediaEcuador/Colombia Expert26 September 2017 18:07:49

10281

coulin wrote:
How long would the paperwork take?

Would it still be valid for my 25k usd investment for permenent residency? ( assuming i pay more than 25k )

Dear Coulin,

Welcome to the Ecuador forum.

Selling part of a property on which a visa is based could potentially invalidate the visa.

Property-based visas are based not on the sale price of the property, but instead on the local municipality's determination of the value of the property.

These questions in the citation atop this post require answers that cannot be provided at this time on this forum .. since the nature of your suggested deal is not known .. the value of the post-sale property is unknown .. and we layman Expats are not competent to evaluate the complex mechanics of your proposal in any case.

Anyone seriously considering complicated property and business moves in Ecuador, including joint business ventures, should be consulting a qualified, experienced attorney at the outset.

cccmedia