Residency in Costa Rica

Costa Rica is a Caribbean country located between Panama and Guatemala and a member of CARICOM. It has just over 51,000 sq km of territory and almost 5 million inhabitants. Its capital and political, cultural, social and economic center is San Jose, and its official currency is the Costa Rican Colón (CRC), although the US dollar is widely accepted.

Costa Rica is often called the "Switzerland of Central America," due to its leisurely lifestyle, lack of military, stable democracy, and impressive natural beauty; it is considered the happiest, most ecological, greenest and most sustainable country on the planet. Costa Rica is one of the most progressive, developed and stable countries in the Americas, with an emphasis on the environment, freedom of the press, security, equality, democracy, health and education.

Its main economic sectors are tourism, high-tech industrial production, agriculture, forestry and fishing. It is the most visited country in Central America, with about 25% of the region's tourism market share. Americans make up about 40% of all tourists. Costa Rica has traditionally been an attractive jurisdiction to set up a company conducting international trade activities, thanks to its territorial tax system and free trade areas.

If you want to set up a company, open a bank account, invest, immigrate and/or obtain residence permits and even citizenship in Costa Rica, contact us directly for a free private consultation.

How to take up residency in Costa Rica

Taking up residence in Costa Rica allows you to take advantage of numerous tax exemptions on a par with Panama and Paraguay. The methods of taking up residency are almost the same as in other countries but they are harder to comply with and the procedure costs considerably more, as well as taking longer

Retired

• Requires proof of $1,000 monthly income from permanent retirement source or retirement fund.
• Must visit Costa Rica at least once a year.
• May apply for spouse and dependents under the age of 18.
• He cannot work as an employee.
• He can own a company and receive dividends.

Rentista residence in Costa Rica

• Requires proof of income of $2,500 per month for at least two years, guaranteed by a banking institution, OR a $60,000 deposit in an approved Costa Rican bank. One amount covers the family.
• Must visit Costa Rica at least once a year.
• May apply for spouse and dependents under the age of 18.
• He cannot work as an employee.
• He can own a company and receive dividends.

Investor

• Investment of US $200,000 in a business or property.
• Must visit Costa Rica at least once a year.
• May apply for spouse and dependents under the age of 18.
• Allowed income from the project.
• He can own a company and receive dividends.

Representative Residency Program – Costa Rica

• The candidate must be a director of a company that satisfies certain requirements, such as employing a minimum number of local workers as established by labor law, with financial statements audited by an accountant.
• Must visit Costa Rica at least once a year.
• May apply for spouse and dependents under the age of 18.
• Can earn income from the company.
• Can own a company and receive income.

Permanent residency Costa Rica

• First-degree relative status with a Costa Rican citizen (by marriage to citizen or by having a Costa Rican child) OR may apply after three years in another state.
• Must visit Costa Rica at least once a year.
• May apply for spouse and dependents under the age of 18.
• It can work.
• Can own a company and receive income.

The first three documents are required for all types of residency in Costa Rica (valid for six months from the date of issue).

1. Criminal record certificate and pending charges from your last place of residence. Valid for 6 months. Required for applicant, spouse and any children between the ages of 15 and 25.
2. Cumulative certificate of birth, marital status, citizenship, residence. Required for applicant, spouse and all dependent children (up to 18 or up to 25 if undergraduate – proof of enrollment required).
3. Marriage certificate (if spouse wants residency). And any document proving the divorce.
4. Certificate of income for Pensionado and Rentista residence (required only for the applicant, valid for six months).

1. Income must be proven to continue with each renewal.
   • Retired: US$12,000 annually
   • Rentista: US$30,000 per year
2. Visit Costa Rica once a year for at least three days.
3. Renewal of the identity card every two years. The Costa Rican government charges a fee of over US$100 for each ID card renewal.
4. You and your dependents cannot earn a salary or supplant a Costa Rican in a job situation.
5. You can own and operate a business and pay yourself and/or make investments.
6. All pensionados and rentistas must submit proof of 1 and 2 above to the Costa Rican government each year.

To start your residence transfer procedure, contact us at info@studiopanamaitalia.com, sending us a copy of your passport, and the precise dates to start and take up residence in the country of your preference, or contact us via the contact form on this website or via whatsapp-telegram at +1 786-623-8177 . If, on the other hand, you are interested in residency in a similar country close to Costa Rica, you can choose to take up residency in Panama, knowing its procedures and requirements