ResidenceServices

Legal resident ("Rentista")

This program applies to individuals who are not yet retired but who do not need to work while in Costa Rica, who are receiving guaranteed, unearned income from investments or other sources, and who can prove that the non-earned income is guaranteed to be received for 60 months (5 years).

Income Requirement: The new requirement applies to any type of applicant, be it a single person, a married couple, or a married couple with dependent children.

Regardless of the applicant’s civil status or number of dependents, the primary applicant must show proof of at least US$2,500 monthly income from interest or dividends or from unearned income, and that the $2,500 monthly payment to the applicant is guaranteed for the next 60 months (5 years).

The most common method used to prove the income is by means of a notarized letter from the bank or financial institution indicating the applicant has on deposit at least US $150,000 on a long term account such as a Certificate of Deposit, and that the applicant agrees to transfer to Costa Rica at least US$2,500 per month. The amount on deposit must be at least US$150,000 ($2,500 times 60 months).

Please note that it is not mandatory that the bank account be held in Costa Rica. The account can be held in the U.S., Canada or practically anywhere in the world provided the financial institution is listed in the Thomson’s Bank Directory®.

Currency Exchange Requirement: Once approved, the resident agrees to exchange the US$2,500 per month (or $30,000 per year) into Costa Rican currency, “colones,” at the official dollar-colon exchange rate in effect at the time of the exchange.

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.



E-mail: info@costaricaresidence.com