Great International Retirement Locations
Cuenca, Ecuador Retirement
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| Description: Cuenca is located in the highlands at about 8000 feet above sea level. Because of its many historical buildings the center of the city is listed as a UNESCO World Heritage Trust site. The available water, moderate climate and rich soil enabled early indigenous people to develop agriculture growing squash, potatoes, chocho, raising domesticated animals including the alpacas and llamas. Explorer Gil Ramírez Dávalos founded the Spanish settlement of Cuenca in 1557. |
| Cuenca enjoys a mild subtropical highland climate year-round like the rest of the Ecuadorian Andes. The days are warm and nights are cool. Its mild climate, beautiful architecture and modern health care are a favorite for those looking to retire abroad. |
| There are many attractions in the historic area between the river Tomebamba and the street Gran Colombia to the north, General Torres to the west, and Hermano Miguel to the east. Throughout the year there are fiestas including the “Mass of Children” and the commemoration of the independence of the city, during which processions, cultural acts and dances are organized. The nearby Cañar plantation features the largest Inca ruins in Ecuador. The City also features many parks, museums, galleries and markets including the Flower market. |
| Reasons to retire here: Affordable, inexpensive quality healthcare, good weather, cultural events, museums, good public transportation, historical sites |
| Weather: average lows near 50 and average highs near 70 |
| Population: 330,000 |
| State Income Tax: There is no tax on income earned outside of Ecuador. Foreign residents of Ecuador are taxed on their local income. Income taxes are charged at rates ranging from 5% to 35%. The first $8,570 of an individual’s income is not taxed. |
| Sales Tax: 12% |
| Property Tax: $200 or less a year. Those over 65 pay half of that rate. |
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