COSTA RICA RESIDENCY
Requirement for obtaining Resident Investor Status - These are the requirements for obtaining resident Investor status, as granted by the National Immigration Department.
1. Invest at least;
a. US$50,000 with an approved organization in a field such as tourism or export businesses.
b. US$100,000 in a reforestation project.
c. US$200,000 in another types of business.
2. Visit Costa Rica at least once a year.
Benefits:
The Resident Investor Status offered through FINOR GROUP (FG), is what is considered a pre-approved and non-restrictive status by the government of Costa Rica.
- Pre-approved: This means that the project itself has been pre-approved by the Government as an appropriate vehicle for obtaining "Resident Investor Status". Upon receipt of the proper documentation and full payment the client is assured they will receive their residency status. The client does not have to wait to see if the investment needs Government approved.
- Non-restrictive: This means the applicant is not restricted to working only in the field the investment was made in, as is the case in many "Resident Investor Status".
The applicant can work in any type of endeavors in Costa Rica. The only exception would be where there are licenses required. An example would be a Doctor would have to obtain a license to practice medicine.
Executive Decree No. 197A of October 6, 1995
- US$100,000 minimum investment paid into the corporation in full. (Documentation supplied by the legal department of the Firm.)
- Photocopies of all pages of the passport.
- The following documents must be authenticated individually by the Costa Rican Consulate nearest to the place of their issuance..
- Birth certificate
- Police record-valid for at least three months from the date of issue.
- Marriage certificate (if married.)
- If the applicant has changed citizenship, a certificate of naturalization must be presented duly authenticated by the nearest Costa Rican Consulate.
- Eight front and four-side passport size (2.4cm X 3cm) photographs taken recently.
Copies and translations of the above mentioned documents are not necessary. The requirements will be taken care of at the Firms Costa Rican office. Children who do not bear the last name of the resident investor (i.e. children who have not been legally adopted by the husband) will not be accepted as his dependents. It is possible for the mother to become a resident investor in her own right and claim the children as her dependents.
The above mentioned documents must be submitted for the Resident Investor and each of is dependents individually. OUR AFFILIATED COSTA RICAN LAW FIRM WILL HANDLE ALL OTHER LEGAL REQUIREMENTS.
The below three documents are required for all types of residency in Costa Rica.
- Police Certificate of good conduct from your last place of residence. Valid for 6 months. Required for applicant, spouse and any children age 15 to 25.
- Birth Certificate required for applicant, spouse, and all dependent children 9up to 18 years old or up to 25 if a University student. Proof of enrollment required.
- Marriage Certificate (if spouse wishes residency). Proof of divorce is not needed.
ALL THE ABOVE DOCUMENTS (other than those obtained in Costa Rica) MUST BE:
- Notarized by a local notary of public if they do not have an official government seal. If in doubt about the need to have it notarized, check with your lawyer.
- Authenticated by the Costa Rican consul in the country where the document was issued.
NOTARIZATION: Your signature must NOT appear in the notarization of the document.
RESIDENCY PROGRAM (Cost on request)
Costa Rican Residency Status for Foreigners
There are several options if you are considering becoming a resident of Costa Rica:
Pensionados, Rentistas and Resident Investors can claim their spouses and children under 18 as dependents. A child between the age of 18 and 25 can be a dependent if he/she is enrolled in a university.
Pensionado Source of Income - Minimum income US$600/month (or equivalent) per month from a qualified retirement plan or pension source, such as a government pension. The qualifying income must be for the applicant only. Pensionados - proof of a pension of at least US$600/month stating that it is for life and that it will be paid in Costa Rica. For pensions from the US Social security it's easier to obtain the certification at the US Embassy in Costa Rica. Pensions from other government agencies (all countries) must have a letter stating that the government pays the pension. Pensions from other institutions must have a statement verifying the type of institution paying the pension.
Rentista Source of Income - From an investment such as a certificate of deposit or annuity that will generate income of at least US$1,000 per month (US$12,000 per annum). An approved financial institution (in a foreign country or in Costa Rica) must guarantee in writing that:
- They hold sufficient funds in a stable and permanent account to provide an income of US$1,000 per month for at least five years and ongoing five-year periods.
- If the financial conditions above change the financial institution agrees to notify the Instituto Costarricense de Turismo.
- The monthly income will be sent to the rentista in Costa Rica.
- Qualifying funds are in the name of the applicant. Deposits in state owned banks are government guaranteed without limit.
Other requirements for both Pensionados and Rentistas.
- Income must be changed into colones at a government bank or an approved private bank in Costa Rica.
- Physical presence in Costa Rica for a minimum of 4 months each year!
- Renewal of identification card (cedula) every two years. The government of Costa Rica charges a US$100 tax for each renewed identification card.
- You and your dependents cannot earn a salary or supplant a Costa Rican in a work situation. You can own a business and or make investments.
- All pensionados and rentistas must submit proof of 1 and 2 above to the Costa Rican government each year.
Finor Group must request that all inquiries be from serious potential applicants ONLY!
We encourage serious parties to visit Costa Rica.
IMPORTANT! Please review our disclaimer so we can have a mutual understanding, prior to placing your order. Thank you.
More Information or Questions? Contact Us HERE
