About life and holidays in Costa Rica - a review from one family

Costa Rica is a hospitable country. People come here to spend their holidays and stay forever because they fall in love with the pristine nature and originality of this state. And the conditions created by the government for work and business make it possible to find a second home here for specialists in any field of activity. Immigration to Costa Rica is also gaining popularity because there are no complicated bureaucratic obstacles for foreigners, and the collection of documents is quite transparent and understandable.

Beautiful panoramic photo of the coast of Costa Rica

General principle of obtaining a residence permit

To come to Costa Rica, Russians do not need to obtain any special documents or visas. Visiting the country for tourism purposes for up to 90 days is not a problem. Residents of the CIS countries, including Ukrainians, need to apply for a visa. This is also why immigration to Costa Rica seems so attractive.

Residence permit in Costa Rica

To study, work, run your own business or live without the right to work, you need to obtain a residence permit. After a certain time, it will be possible to obtain citizenship.

Costa Rica is retaining several major immigration programs in 2021:

• for pensioners;
• for rentiers;
• for investors;
• for spouses.

All paperwork procedures are absolutely legal, although unhurried. The issue cannot be resolved with a bribe. Depending on the situation, the processing of documents takes from six months to a year. If there are letters of recommendation and guarantee from third parties, institutions, employers, partners located in Costa Rica, the process may take less time.

Residence permit for pensioners

The program is suitable for young and active retirees who are not afraid of changes in life and still have a thirst for new things. But the most important requirement is financial security. A foreigner who comes to Costa Rica with the goal of staying here for permanent residence is not allowed to work. Therefore, the accumulated funds must be enough for the entire period of stay in the country, and in addition there must be confirmation of such content until the end of the foreigner’s life.

Pension payments are considered as the main income; in the case of Russia, these are funds from state and non-state pension funds, personal savings, and the like.

The minimum amount required is from 30 to 50 thousand rubles monthly, or from 400 to 640 thousand rubles per year.

This is the order of amounts that a resident must exchange for local currency.

Moreover, the conversion takes place according to the official exchange rate. These requirements apply to both one person and a married couple. That is, proof of income is required not from each spouse, but only from one of them.

When a temporary residence permit under the pension program is received, the foreigner must stay in the country for 4 months annually, but there is no need to do this continuously. This could be either traveling to Costa Rica once a season for one month, or living here during the most favorable months of the year.

A special document for obtaining a residence permit will be a certificate confirming receipt of a lifelong pension, which will be transferred to the candidate monthly in an amount not less than the established one.

Residence permit for investors

You can obtain a residence permit in Costa Rica by purchasing a home. However, its cost must exceed 10 million rubles. Such support for the local economy is appreciated by the authorities and is quite worthy of issuing a residence permit. True, there is one caveat: this should not be a home for personal use, but, for example, for rent, or for future sale.

In addition to real estate, you can also invest in business projects. The amount should remain the same or more. If the contract obligations involve long-term obligations, then it will be necessary to provide documents that confirm the presence of the entire required amount in the investor's accounts.

As in the case of the pension program, the immigration program for this category of citizens provides for mandatory residence in the country for at least 6 months within one year. This period may be consecutive or fractional - it does not matter. Costa Rican citizenship can be obtained after three years of permanent residence in the country.

Certificate of registration in Costa Rica, that is, permanent residence

Special documents for obtaining a residence permit for investors will be:

• A corresponding project worth more than 10 million rubles. It should spell out in detail what the benefits and benefits for the state are, as well as a step-by-step plan for its implementation.
• A certificate from a Costa Rican accountant, which will indicate the investor’s current solvency, as well as the financial plans of the investment project.
• Proof of possession of the necessary amount to complete the started project.

How to obtain a residence permit in Costa Rica for Russians

To legally reside in Costa Rica, study, or run your own business, you must become legal. The first stage of this procedure involves obtaining a temporary residence permit. The country’s legislation allows the following categories of migrants to obtain it:

1. Pensioners. Wealthy older people are welcome in the country. Pensioners are allowed to rest, but not to work. Therefore, the main condition for legalization is confirmation of financial solvency. The law does not provide for any other restrictions. Pensioners need to live in the country for at least 4 months a year. When submitting documents, you should pay attention to certificates of subsidies from your native state, the presence of sufficient savings or a source of permanent income of at least 30 thousand rubles per month, which corresponds to 450-500 US dollars.
2. Costa Rican spouses. The most preferential immigration policy applies to foreigners who marry citizens of the country. It is enough for a spouse to live only one day within a year in the country after the conclusion of the union in order to submit a marriage certificate to the registration authority and obtain a residence permit on its basis. A foreigner can start working at any time without any restrictions. After 2 years of marriage, he receives the right to apply for permanent status and citizenship. At the same time, children born in Costa Rica automatically become its citizens.
3. Rentier. Representatives of this category of foreigners can live or vacation in the country, but do not have the right to work. They must stay there for at least 4 months a year for 3 years. The condition for obtaining permanent status is a documented monthly income of $1,000 per adult family member and $500 per child. Rental agreements, contracts with employers or bank statements with the corresponding account balance are accepted as confirmation.
4. Investors. The guarantee of obtaining a residence permit under this program is the purchase of real estate worth at least 10 million rubles. In addition, this property cannot be used for personal residence purposes. The authorities regard such a purchase as a contribution to the country's economy. Investors can invest money in the development of any business sector. The contribution amount is also 10 million rubles. To obtain legalization, an investor only needs to live in the country for 6 months a year. After 3 years, he receives the right to permanent residence, and after another 4 years he can become a citizen of Costa Rica.

Required documents

Regardless of which of the programs provided for by law, a Russian has arrived in the country, for legalization he needs to collect and submit to the immigration authorities of Costa Rica the following package of mandatory documents:

1. Application for a residence permit. It must indicate detailed information about the applicant, the reason for the move, and the type of professional activity that he plans to engage in.
2. A valid foreign passport.
3. Birth certificate without regard to the age of the applicant.
4. A certificate from the Ministry of Internal Affairs confirming the inclusion of the immigrant’s fingerprints in the archive.
5. Confirmation of the absence of problems with the law in the emigrant’s homeland. The document must be issued no earlier than 3 months before the date of submission.
6. Marriage certificate, if available.
7. Three photographs.
8. Certificate of consular registration.
9. Proof of payment of taxes on declared income.
10. Receipts confirming payment of state duty.

Representatives of the immigration service may require additional papers from the applicant to form an opinion about his trustworthiness and financial solvency.

All copies must be certified by a notary and apostilled. In addition, the application and the accompanying papers must be translated into Spanish and certified with the translator’s seal.

Price

Like any public service, obtaining a residence permit is not free for foreigners. Russians will have to bear the costs of emigration back in their homeland. He needs to make copies of documents, have them certified by a notary and confirmed with an apostille. These costs will vary by region.

But the immigrant will pay the bulk of the funds after arriving in Costa Rica:

1. The state fee in 2021 is $250 per person.
2. The services of lawyers who help draw up an application, collect a set of documents and submit it to the relevant government agencies will cost a foreigner approximately $1,500 per person.
3. Translation of documents into Spanish will require a fee of $20 each.

As a result, the cost of obtaining a residence permit can reach 2,500 US dollars per applicant for legal status.

Deadlines for obtaining a residence permit

The period for consideration of an application for legal status is clearly regulated by local legislation. It is impossible to speed it up with the help of connections or monetary thanks. All foreigners will have to wait from 6 to 12 months for a response from the authorities. The waiting period can be reduced to 3 months if the applicant provides letters of recommendation from the employer or from the place of study.

Residence permit for rentiers

In other words, for those who can live and not work in Costa Rica. The first and main requirement from the Costa Rican migration service is appropriate material support. By requesting proof of solvency, the state reinsured itself and protected itself from the need, several months later, to spend its time and money on helping such a foreigner and deporting him to his homeland.

A residence permit is issued to one person or a married couple, including those with children. At the same time, only one family member can provide documents confirming income, but the amount will be different in each case.

For one resident, 1 thousand dollars a month is enough for a period of five years. Alternatively, it is acceptable to have an account value of more than $60,000.

Every month, at least 1 thousand US dollars must arrive in a Costa Rican bank account, which the foreigner will exchange for local money at the official rate.

If this is not one citizen, but a married couple, then the amount increases to 2 thousand dollars or 120 thousand rubles, respectively. If there are minor children, $500 per month is provided for each child, that is, about 30 thousand rubles.

If these requirements are met, you can obtain a residence permit. It requires foreigners to spend at least 4 months a year in Costa Rica. After three years of being in the country as a temporary resident, you can submit documents and try to obtain Costa Rican citizenship.

Special documents for obtaining a residence permit for a rentier will be certified papers that confirm a constant income of the required level for five years, or a bank account statement containing the required amount.

The attractiveness of Costa Rica for business and investment

Due to low production costs and low taxation, Costa Rica is one of the popular countries for foreigners who want to open a company in the country and make investments. Purchasing real estate in Costa Rica will further reduce living costs in the country if you decide to start a business. The cost of real estate in Costa Rica is several times cheaper than in many countries, especially since the property tax rate is only 0.25% per year of the registered value. Luxury properties priced above one million dollars are subject to a tax of 0.55% per annum. Many migrants investing in real estate in Costa Rica receive rental income throughout the year, as the country is very attractive to tourists and businessmen. Every year the population of Costa Rica is growing, due to the fact that more and more foreigners are moving to the country for permanent residence. Thus, you can build your business in the service sector to serve the population. Considering that Costa Rica is home to more than 50 universities, the country needs to study English, despite the fact that it is taught in schools as a second foreign language. Opportunities for doing business in Costa Rica can be interesting and promising, both within the country and as an offshore company to work in the foreign market. Many multinational companies open their branches in the free economic zones of Costa Rica, where they are given the opportunity to import goods without taxation. In Costa Rica there are 5 regions that belong to free economic zones (Costa Rica's Free Trade Zones). In these zones, foreign companies are developing investment projects for the production of environmentally friendly energy and biotechnology projects. Also, the activities of companies in these zones aimed at the agro-industrial complex for the production of non-food and food products, services and logistics provide tax benefits.

Free economic zones provide preferential rights to companies that will not pay income taxes and customs duties on export-import transactions for 12 years. They also have an exemption from paying taxes on royalties and dividends, from sales tax and from paying state duties on services and goods on the local market. Including for a period of 10 years, companies in free zones are exempt from property tax, on the transfer of property and tax for issuing licenses. The Costa Rican government also provides benefits to those companies that are involved in the IT business, where software is developed, computer services are provided for customer service and back offices. In this regard, the state completely exempts companies from paying income tax for eight years, and after that for another 4 years it will charge half of the standard tax rate. If you pay attention to the constant growth of the Costa Rican economy and the increasing population, then the prospects for business are quite high. The main thing here is to correctly decide on the choice of the most competitive sectors of the economy or service sectors, and the state in return will provide a “head start” to foreigners for attracting investment. Costa Rica does not place any restrictions on investors except:

• Property transactions in coastal areas and related to the country's natural resources.
• Conducting operations in the country's state ports.
• Transactions related to money laundering and terrorist financing (transactions over 10,000 USD require special financial reporting).

From 2021, legal entities that are registered in the State Register, and these are: corporations, limited liability companies, and LLCs (Individual Limited Liability Company), will not be charged “corporate tax”. In connection with the unconstitutional provisions of articles: 1; 3 and 5 of Law No. 9024, the Constitutional Court of Costa Rica suspended the operation of this company tax law.

In conclusion, I would like to say that Costa Rica can provide huge unlimited opportunities for foreign businesses. The fact of purchasing real estate or organizing your own business in Costa Rica does not oblige a foreign citizen to become a citizen of the country. Therefore, in order to make your dreams come true, you need to have the desire, opportunities and possess reliable information about the real state of affairs. And do not trust information that claims that a migrant, like a “king,” can live in Costa Rica on only 500 USD per month. If you are interested in the issues of establishing an offshore company, opening a bank account in a foreign jurisdiction, as well as moving to permanent residence, write to us by mail and our managers will contact you.

Residence permit for spouses

By being legally married to a Costa Rican citizen, a foreign spouse can obtain a residence permit. This is one of the easiest and most affordable ways to become a legal citizen of the country. After the wedding, you must send the marriage data to the Costa Rican State Registry.

Only on the basis of his data will the foreigner be granted temporary resident status and a residence permit. Such immigrants are officially allowed to work.

Compared to all other immigration programs, marriage has less stringent rules. For example, you need to live on the territory of the state not 4 or 6 months a year, but only one day. And after three years of living with your spouse, you will receive permanent residence.

A special document for obtaining a residence permit for a spouse will be an extract from the state register confirming the official marriage.

Residence permit for investment

Arenal Volcano, photo pixabay
A residence permit in the Sunshine State is issued if the following conditions are met:

• Availability of 200 thousand dollars.
• Investing capital in real estate, securities or a government project related to forestry.
• Residence in the state - at least 6 months a year.
• The spouse and minor children may also participate in the same residence permit program along with the main applicant.

Documents required to participate in the investor program:

• questionnaires;
• photos;
• documents on birth, marriage, divorce, etc.;
• motivation letter;
• certificate of no criminal record;
• certificate of origin of funds;
• a certificate from the bank confirming the availability of the required amount in the current account;
• when purchasing real estate - a tax payment receipt;
• when investing in securities or shares - certificates confirming the fact of investment;
• when investing money in forestry - an extract from the forest planting plan and an investor certificate.

This package of documents is basic. If necessary, it can be expanded.

Before obtaining citizenship, you must go through the following steps:

• Preparation and submission of documents. The period for their consideration is from three months to a year.
• Issuing a tourist visa (if necessary) and visiting the country for the purpose of investing in the chosen direction.
• Submitting documents for a residence permit.
• After 3 years, obtaining permanent residence status (which gives the right to employment).
• After another 4 years (for a total of 7 years), citizenship by investment is issued.