How and where to set up an Escrow account in Ecuador

[ty.gregory]

I need a good (Marine) Escrow office in Ecuador, hopefully near Bahia de Caracas. Any ideas of where to go or who to ask? I tried Google and got no leads.

Thank you,
Ty

[JPA Cate]

Why not hire a lawyer in Caracas to help you with it?

Ann

[skipmac]

If you don't get a good answer I can ask my nephew who married an Ecuadorian and lives there off and on. He knows nothing about boats and brokerage but I think one of his brothers-in-law is a lawyer there and should be able to track something down.

[ty.gregory]

Okay. Good, then does anyone know of a lawyer near Bahia de Caracas?

[s/v Beth]

Wow, you know what your asking? Ecuador is by their own admission, a country of thieves. My son was down there 2 years helping the church. He knows of some of his friends who fell in love while down there, married and now live there full time. Some of them have full time employment keeping gringos like us out of trouble. I met a few while down there. I would work through the state department to try to find one of these individuals in finance. Do not trust anyone till you have their history!
Couldn't you just escrow in the US (or Switzerland) and have the money sent when you take control of the boat?

[ty.gregory]

Oh boy...

Well thank you, all.

skipmac, If you could, will you please!?

Ty

[Dhillen]

We have purchased boats overseas before and in developing countries the escrow function is usually performed by a lawyer. The fly in the ointment is the lawyer is usually working for the broker. This means - obviously - you need to be working with a reputable broker.

If you are doing a private deal down in a place like Ecuador and do not know enough about the place to answer the question you posted then you are at severe risk of losing all your cash.

Suerte.

Dhillen

[ty.gregory]

Okay... In that case, does anybody know a good yacht broker in Ecuador that they could recommend?


I think I need a new post.

In any case that is good information!

Ty