Entering Costa Rica
Every country has its own rules, laws and requirements and so does Costa Rica. If you are a citizen of the United States, Canada or the European Union then you will not require any visa, which makes it easier for you to visit the country. All you need is your passport and you can remain in the country for a maximum of 90 days. 90 days is a lot of time to research the living/retirement options in Costa Rica.
Residency in Costa Rica
If you are planning to become a permanent resident of Costa Rica post retirement then you have to apply for it to the Costa Rican Department of Immigration also known as the Dirección General de Migración y Extranjería. The immigration department of Costa Rica is overseen by the Ministry of Public Security and Police. You need to fill the application for Costa Rica residency in your home country and submit it to the Costa Rican Consular Office in your state or country.
The residency procedures in Costa Rica keep changing and hence you should always confirm the procedures beforehand. In last decade or so, there are many people who have bought real estate as a part of their Costa Rica retirement planning. There is a huge influx of people coming in every year and the local officials are not completely prepared to handle the sudden influx. If you are filing your application then just remember that the processing time may get stretched as the Department of Immigration in Costa Rica is low staffed. The approval fore residency in Costa Rica in completely in the hands of the Department of Immigration and they mostly favor applicants who can provide employment for people of Costa Rica through business opportunities. Entrepreneurs, businessmen etc are given first priority.
You can apply for residency in Costa Rica as a retirement option.
Costa Rica Retirement
There is nothing better than to retire in a country that is so full of natural beauty in the form of tropical rainforests, hundreds of species of flora and fauna, meandering rivers, gurgling brooks, high waterfalls and pleasant climate. The Costa Rica cost of living is also lower than that of US or European countries. Finding a Costa Rica retirement home is like a dream come true and if you have an income through pension then you will be able to qualify for the rentista residency or pension residency. According to the program:
You can have the option of getting a pension based residency. As a pensionado or retiree, you will have to show proof of fixed income through a pension or any retirement fund. It must be at least US$600 per month.
You can also have to option of applying for an investment income based residency. As a rentista applicant, you will have to show proof of a fixed income to the amount of at least US$1,000 per month.
There are certain components applicable when you are looking towards Costa Rica residency. The most important is the eligibility criteria for obtaining permanent resident status (PRS) in Costa Rica. They are:
You will be eligible if you are an immediate relative of a Costa Rican citizen. Relative means you are the spouse, parents, single brother or sister, son or daughter of a citizen of Costa Rica.
Your company is registered in Costa Rica.
If you invest in Costa Rica
If you have an income source like a retirement plan or pension, which will pay out at least $7,200.00 per year
Legal Requirements in Costa Rica We can provide you guidance through a team of real estate professionals who understand and have experience handling Costa Rica real estate investments. We can also provide you with Costa Rica retirement advice so that it is easier for you to apply for residency. We have a team of customer service executives who can handle any question and offer you updated information about attaining residency status in Costa Rica. You don't have to worry about anything. All you have to do is choose the property and we will take it from there.