Costa Rica Residency
Costa Rica residency qualification categories are as follows:
1. Pensionado Status - Permanent income from a retirement source such as a pension must be demonstrated. The minimum amount is $600 per month and the applicant must reside in the country for at least 4 months each year.
2. Rentista Status - This is for individuals who do not have retirement income but can show income from other capital investments. You must provide documentation that you receive a minimum of $1,000 each month fIndividuals who do not have retirement income but can show income from other capital investments may apply for this type of residency. Documentation that states that a minimum of $1,000 is received each month for a period of at least five years must be provided. Also, a minimum of $12,000 per year must be changed into colones through the Costa Rican National Banking System.
3. Investor Status - Those making a minimum investment of $50,000 in Costa Rica can qualify for residency if the investment is made in a priority industry, such as non-traditional exports or tourism. Residency, along with other incentives, is offered with investments of $100,000 in reforestation projects or of $200,000 in non-priority industries. Ask an attorney for further details.
4. Permanent Residency - People who marry Costa Ricans, have a child born in Costa Rica, or are seeking political asylum may be eligible for this type of residency.
5. Temporary residency - People employed by international companies or students and teachers participating in official exchange programs with the Costa Rican Universities may receive this type of residency.
In all cases, a series of documentation from the home country, such as certificate of birth, marital status, police report, photos, income certification, etc. must be provided. All documents must be certified by the Costa Rican Embassy in the home country and then must be translated into Spanish in Costa Rica. Fingerprints and a written declaration are taken in Costa Rica at the immigration office. If investor status is requested, a financial study of the project must be provided. If the project involves real property, proof of ownership must be provided. In theory, the process should only take a few months but can actually take up to a year or more.
1. Pensionado Status - Permanent income from a retirement source such as a pension must be demonstrated. The minimum amount is $600 per month and the applicant must reside in the country for at least 4 months each year.
2. Rentista Status - This is for individuals who do not have retirement income but can show income from other capital investments. You must provide documentation that you receive a minimum of $1,000 each month fIndividuals who do not have retirement income but can show income from other capital investments may apply for this type of residency. Documentation that states that a minimum of $1,000 is received each month for a period of at least five years must be provided. Also, a minimum of $12,000 per year must be changed into colones through the Costa Rican National Banking System.
3. Investor Status - Those making a minimum investment of $50,000 in Costa Rica can qualify for residency if the investment is made in a priority industry, such as non-traditional exports or tourism. Residency, along with other incentives, is offered with investments of $100,000 in reforestation projects or of $200,000 in non-priority industries. Ask an attorney for further details.
4. Permanent Residency - People who marry Costa Ricans, have a child born in Costa Rica, or are seeking political asylum may be eligible for this type of residency.
5. Temporary residency - People employed by international companies or students and teachers participating in official exchange programs with the Costa Rican Universities may receive this type of residency.
In all cases, a series of documentation from the home country, such as certificate of birth, marital status, police report, photos, income certification, etc. must be provided. All documents must be certified by the Costa Rican Embassy in the home country and then must be translated into Spanish in Costa Rica. Fingerprints and a written declaration are taken in Costa Rica at the immigration office. If investor status is requested, a financial study of the project must be provided. If the project involves real property, proof of ownership must be provided. In theory, the process should only take a few months but can actually take up to a year or more.
posted by Tian at 10:54 PM
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