Costa Rica is an enchanted land, with beautiful beaches, active volcanoes, all kinds of shopping venues, exotic birds and biodiversity second to none! After taking a family vacation to Costa Rica, many people obtain their residency in Costa Rica shortly thereafter. Once you decide that Costa Rica is for you, it is time to research the different types of residency programs available for you and your family. Here is how it works. . .
First, you can choose not to take advantage of any residency program available and you will remain a ‘perpetual tourist’. There’s nothing wrong with this, except that if you do not leave the country every 90 days for at least 72 hours, you are ‘bending’ the law here in Costa Rica. With that said, most people who take multiple trips per year to Costa Rica are perpetual tourists. They will stay this way until they just get tired of making that 90 day excursion outside of the country!
When you do decide to apply for residency, one needs to find an attorney or residency service specialist to assist with all of the paperwork, time limitations and other unknown challenges that lie before you. It is somewhat complicated and I would not suggest trying it alone. One small mistake can mean wasted time, effort, money and possibly even a missed opportunity to become a resident of Costa Rica.
Four Ways to Get Your Residency in Costa Rica…
They are Pensionado, Rentista, Resident Investor and Vinculo. Here is what they all mean to you.
1.) The Pensionado Status is perhaps the most favorite status here. As the title denotes, a person who is entitled to a lifetime pension that is in excess of US$1,000.00 per month can apply for status. Pension amount covers applicant, spouse and children under 18.
2.) The Rentista Status was developed for those individuals who wish to live in Costa Rica, have the funds to live in Costa Rica but do not have a formal pension plan. A person who has international or domestic investment interest income in excess of US$2,500 per month can apply for this type of status.
3.) The Resident Investor status was developed for those individuals who wish to live in Costa Rica, have the funds to live in Costa Rica, but do not have the pension nor the interest from investment available for themselves to qualify. It must be proved that the applicant has made a one-time investment in an approved Costa Rican Project that has a provable value of a minimum of US$200,000. This investment amount covers applicant, spouse and children under the age of 18.
4.) The process of Vinculo facilitates those individuals who wish to obtain a legal status here in Costa Rica and have married a Costa Rican citizen or have become the parent of a natural-born Costa Rican.
These are your four choices for residency and we encourage you to move forward in this process and become a resident of this amazing country. After going through the process, you’ll be glad you obtained your residency in Costa Rica!