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| TRAVELLING IN COSTA RICA | RESIDENCY IN COSTA RICA | RETIRING IN COSTA RICA | INVESTING IN COSTA RICA | IMMEDIATE RELATIVE PETITION |
(2) INVESTMENT INCOME BASED
RESIDENCY [Rentista].
The Rentista applicant must demonstrate a permanent fixed income of at
least
US$1,000per month for
a single individual. If the applicant is applying jointly with a
spouse then the income demonstrated must be US$2,000 per month. Generally, those who seek the Rentista category do not have
a pension source and
instead have investment income. To apply for this category it is
necessary to provide proof of the
investment and that it will generate the US$1,000 per month (US$2,000 for a couple) required
under this program. As such the applicant must provide a letter from
the bank or financial institution where the investment funds are
deposited certifying the existence of that income. It is not required
that the funds be held in Costa Rica. The letter can be issued by
international banks
(note the international bank must be registered in Polk's Bank
Directory ) as well as Costa Rican banks. The ideal letter
issued by the financial institution should state the following:
(a) That the recipient will receive at least US$1,000 per month in
Costa Rica (b) That the investment generates US$1,000 per month in a
stable, permanent and irrevocable
manner for at least five years. (c) That the financial institution
issuing the
letter will notify the Department of Immigration - Pensionado and
Renitsta Department if the condition changes.
In both cases, Pensionado
and Rentista the beneficiaries must comply with the following:
* Prove on an annual basis that the required funds were deposited in Costa Rica and exchanged into local currency.
* Must reside a minimum of 6 (six) months in the country.
1. Birth Certificate: You must provide a certified copy of your birth certificate and that of your dependents. The certified copy must be sent to the Costa Rican consulate for your jurisdiction for authentication. The consulate charges US$40 for each document to be authenticated. Be advised that the Department of Immigration will not accept any supporting documentation which has not been authenticated by a Costa Rican Consul.
2. Marriage Certificate: If you have a spouse that will be applying as well then you will also have to provide a certified copy of a marriage certificate. The certificate must also be authenticated by a Costa Rican Consulate.
3. Proof
of Income: If your source of income is a government pension
then obtain a letter from your government
certifying the income. (US citizens on Social Security can obtain this
letter from the United States Embassy -Consular Section in Costa Rica)
If the income is from a Bank or Financial Institution then it must
issue the letter. All documents
should be authenticated by the Costa Rican Consulate. Follow this link
to see a Sample Bank Letter
4. Police Certificate of Good Conduct: This
certification is obtained from the police department where you
last resided. This certification also needs to be authenticated by a
Costa Rican Consulate. Note that this certificates is only valid for 6
months from the date they are issued. If this document expires
while you are pulling together the rest of the documentation then you
will have to obtain another one.
5. Interpol Background Check: This step is done in Costa Rica at the Ministry of Public Security. The applicant first fills out an application form which is addressed to the Department of Public Security and signed by the Department of Immigration. It is a request for the background check which requires finger printing in Costa Rica. The background check takes approximately one month.
6. Photographs: The application requires photographs during the various stages of processing and we recommend that you take at least 4 photographs facing the front. You will require photographs for the background search, the Department of Immigration application so you might as well get them all at once and keep them in the file as needed.
7. Translation of Documents: Once you have compiled all your documentation, all documents which are in English must be translated into Spanish. This procedure can generally be handled by the Attorney that you have retained to process your application.
8. Sworn Statement: The Applicant and spouse, if any must appear before a Costa Rican Notary Public and issue a sworn statement stating that they agree to abide by the Pensionado/Rentista law. This statement can be prepared by your legal representative in Costa Rica.
Once you have all the documentation set forth above you are ready to submit your application to the Department of Immigration. Generally the Department of Immigration will only receive applications that are accompanied with ALL the supporting documentation. Keep in mind that all the original documents that you submit become the exclusive property of the Department of Immigration and will NOT be returned to you.
Within the application process you will be required to provide the Department of Immigration with the following information:
1. Full Name, 2. Nationality, 3. Occupation, 4. Name of your Father, 5. Name of your Mother, 6. Name of your Spouse, 7. Race, 8. Color of your Eyes, 9. Color of your hair, 10. Your height (in meters), 11. Your weight (in kilos), 12. Marital Status, 13. Place of Birth, 14. Date of Birth, 15. Original Entry Date into Costa Rica, 16. Point of Entry into Costa Rica, 17. Phsyical Address in Costa Rica, 18. Telephone number in Costa Rica.
Once you application is received you will be given a receipt. This receipt is important since it is your proof that you have a pending residency application with the Department of Immigration. Your application first goes to the Legal Department within Pensionado/Rentista Section of the Department of Immigration who will review all the documentation for compliance. If all your paperwork is in order the Legal Department will forward the application to the approval committee for final evaluation. If there are any defects in the application the Legal Department will notify your legal representative of the defect and request that it be corrected before it will submit the application for approval.
If your application is approved then the Department of Immigration will issue a formal resolution indicating the date on which the application was approved. You or your legal representative must appear at the Department of Immigration for formally retrieve the resolution. Once you have the resolution then you can request an appointment with the Department of Immigration to have them issue you a picture identification residency card. Prior to this you must deposit US$ 100 (for each applicant) in the account of the Department of Immigration with Banco de Costa Rica. To withdraw your residency card you must personally appear and sign for the card before the Immigration Officer at the Department of Immigration.
B. Renewal of Pensionado/ Rentista
In order to renew you residency status under this category you must first prove to the Department of Immigration that you spent at least 4 months in Costa Rica during the year. If you are a Pensioner you must prove that you exchanged at least $7,200 ($600 X 12 months) into Costa Rican currency. This can be done by providing a letter from your local bank stating that fact or else present the bank teller receipts demonstrating the exchanges. In the case of a Rentista you must demonstrate the exchange of $12,000 for the year ($1,000 X 12 months for an individual $2,000 x 12 months for a couple) into Costa Rican currency. In addition, the Department of Immigration has been requesting that Rentista status holders provide a letter from the bank that certified their investment indicating that the investment is still in place.
Under the new immigration law the Investor Category requires an applicant to demonstrate to the Department of Immigration that they will be coming to Costa Rica to invest in the country a minimum of $200,000 (two hundred thousand dollars). The investment must provide an economic and social benefit to Cost Rica. The law specifically excludes personal investments such as purchase of home, lots or buildings to qualify for this category. The granting of this category is discretionary with the Department of Immigration. It requires financial statements audited by a Certified Public Accountant to document the financial investment plan proposed.
This category of residency (A-4) is available to foreigners who are immediate relatives of a Costa Rica citizen. By immediate relative we mean either married to a Costa Rican citizen or the applicant is the parent of a Costa Rican citizen.
This application may be filed directly in the Department of Immigration. The applicant must provide the following supporting documentation:
1. Birth Certificate: You must provide a certified copy of your birth certificate and that of your dependents. The certified copy must be sent to the Costa Rican consulate for your jurisdiction for authentication. The consulate charges US$40 for each document to be authenticated. Be advised that the Department of Immigration will not accept any supporting documentation which has not been authenticated by a Costa Rican Consul.
2. Proof of Relationship to
Costa Rican Citizen:
If you are basing your petition on marriage then you must have a
Cetified copy of the marriage certificate issued by the Civil Registry.
If you are a parent or sibling to a Costa Rica citizen then
provide the Certified birth certifcate of the relative. You
must also provide a certified copy of the identification document of
the Costa Rican relative.
3. Police Certificate of Good Conduct:
This certification is obtained from the police
department where you
last resided. This certification also needs to be authenticated by a
Costa Rican Consulate. Note that this certificates is only valid for 6
months from the date they are issued. If this document expires
while you are pulling together the rest of the documentation then you
will have to obtain another one.
4. Interpol Background Check: This step is done in Costa Rica at the Ministry of Public Security. The applicant is finger printed and the fingerprints are run through the Interpol computer index.
5. Photographs: The application must provide 6 photographs facing towards the front.
6. Translation of Documents: Once you have compiled all your documentation, all documents which are in English