Here are our reasons:
- If Mike dies without us having citizenship in Ecuador, then I would have to leave the country or apply all over again for a residency visa. The reason is that when we came here over five years ago, I didn't have a pension so I had to be a dependent of Mike's. This way, if Mike dies before me and I have an Ecuadorian passport, then I would be a citizen and not have to worry about that.
- I am thinking that times are just going to get much worse in the U.S. (prophetically-speaking), and who knows, they might not renew passports anymore and may restrict your travel.
- It might be better to travel (outside of the U.S.) on a non-USA passport. We plan on doing that soon, as we travel around South America, which leads to:
- If you want to travel in South America, you can travel Visa-free with an Ecuadorian passport; otherwise there is a cost for some of the countries that you want to visit if you're traveling with a U. S. passport ( see comment below).
- The U. S. government is pressuring banks around the world concerning doing business with Americans, causing many banks not to want to do business if your only passport is from the U.S. With an Ecuadorian passport, it's not a problem to open up a foreign bank account.
- The IRS can now cancel anyone's passport if they are delinquent in their federal taxes of at least $50,000 including penalties and fines. You might say, "Well, I don't owe the IRS any money" -- but what if they make a mistake. Do you think they'll correct their mistake and allow your passport to be re-issued? How much time, effort and expense on your part will be involved to correct the IRS' mistake?
- Another reason is if you have an Ecuadorian passport, then you don't have to transfer your visa from your old U. S. passport to your new passport when you renew because you won't need a visa any longer if you're an Ecuadorian citizen.
- As an Ecuadorian resident, you have restrictions on the amount of time that you can be outside of Ecuador. As an Ecuadorian citizen, you have no such restrictions.