Residency as an Investor
The foreigner can apply for this type of residency if he/she has and demonstrate investments in Costa Rica for USD$ 200.000 . The investment should be in specific areas as tourism, reforestation, shares in a CR corporation, properties and/or any other activity supported by the Costa Rican government.
Residency as a Renter
The foreigner and its family can apply for this type of residency if he/she receives US2.500 -minimum amount- as a monthly rent or has bank investments in CR for $150.000 and will not work while living in Costa Rica *( The foreigner can work in CR only if he has its own costarican corporation/business) To prove the income, the foreigner must get a letter from a Costa Rican Bank or financial institution , foreign bank, CPA or Law Firm certifying he/she will be receiving a monthly rent of $2.500 for the next five years. If letter is issued outside CR must be authenticated by correspondant CR Consulate.
Residency as a Retired Person
The foreign can only apply for this type of residency if he/she is entitled to a lifetime pension of $1000 per month in their country of origin and will not work while living in Costa Rica. * (The foreigner can work in CR only if he has its own costarican corporation/business ) The applicant must obtain a letter to prove lifetime pension and letter must be authenticated by CR Consulate
1. Application Letter: This letter should include the following information
- complete name of the person applying for the residency
- nationality, marital status and occupation
- passport number, date and place where it was issued and date it expires
- name of any direct family member (children or wife) dependent on the income of the applicant who will also apply for residency
- date in which the applicant enter Costa Rica
- a formal request of his/her desire of being a Costa Rican resident
- specify the type of residency
- temporary address in Costa Rica or the address in the country of origin
- Must indicate a place or fax number to receive notifications
2. Birth Certificate: Needs to be authneticates by the Costa Rican Consulate located in the country where the document is issued, and further legalization by Ministry of Foreign Affairs in Costa Rica. This document expires after 6 months of being issued.
3. Marriage Certificate: Needs to be authenticated by the Costa Rican Consulate located in the country where the document is issued, and further legalization by Ministry of Foreign Affairs in Costa Rica. Expires after 6 months of being issued.
4. Police record: Needs to be authenticated by the Costa Rican Consulate located in the country where the document is issued, and further legalization by Ministry of Foreign Affairs in Costa Rica. Expires after 6 months of being issued.
5. Finger Prints: They need to be taken at the Ministry of Security in San Jose, Costa Rica and applicants must bring passport and 3 photographs
6. Certified copy of the entire passport (even blank pages).
7. Special Power of Attorney granted by the applicants to the attorney that will handle the residency application.
8. 8 passport size photographs
9. The applicant is required to pay $250 at the following bank account that belongs to Immigration: Banco de Costa Rica, cuenta 242480-0
10. Consular registration at the embassy of its origin country located in Costa Rica.
NOTE: All documents written in a foreign language must be translated into Spanish.
EXPENSES AND LEGAL FEES:
Legal fees on each residence application are: $1.700 per adult and $500 per minors ( 70% of legal fees are required to start the process.)
Authentication Fee: $42 per document.- (Documents that will require legalization: birth certificate, police record, marriage certificate and the letter certifying the pension or monthly income)
Immigration Deposit: $250 per application
Translation fee: USD$20,00 per document ( max. 2 pages )
We from ABC Real Estate hope this was helpful and will be glad to connect you with Lic. Marcela Guardian