Retiree ("Pensionado")

This program applies to any person who is already retired from his/her usual Occupation and who is already receiving pension benefits.

Income Requirement: Must show proof of monthly income from a qualified pension plan Of at least US$1,000 per month.

A Pension plan can include amongst others: local, state/provincial and Federal government pensions from most countries, Canadian Old Age Pension System, U.S. Social Security Administration benefits, private pension plans, 401K plans, school district pension, etc. To be a qualified plan, the pension must be payable to the resident applicant “for life.” Many annuities can also qualify as a pension.

If receiving U.S. Social Security or Canadian Government Pensions (including Old Age), the appropriate pension income letter can be easily obtained from the U.S. or Canadian embassies.

Currency Exchange Requirement: Once approved, the resident agrees to exchange the US$1,000 per month (or $12,000 per year) into Costa Rican currency, “colones,” at the official dollar-colon exchange rate in effect at the time of the exchange.

Please note that a married couple needs to show proof of only one (1) monthly pension of at least US$1,000 for both husband and wife to apply for residency. The pension recipient can be either spouse.

Additionally, please note that Costa Rica does not recognize same gender marriages or unions even when legally married in the country of origin. Same gender couples must apply for residency independently from the partner and each partner must meet the income and other requirements on his/her own.

In-Country Requirement: Once approved, the resident agrees to live in Costa Rica for at least 121 days (4 months) per year. The days lived in Costa Rica do not have to be consecutive.

Type of residency: Temporary. The resident can apply for permanent residency after being a temporary resident for three (3) years.