Residency and Immigration: Invest in Costa Rica.
Moving to Costa Rica offers an incredible opportunity to embrace a lifestyle surrounded by natural beauty, a warm climate, and a welcoming culture. For those seeking to establish themselves in this tropical paradise, the temporary residence as an investor is a practical and attractive pathway. This type of residency, is designed for foreign nationals who are willing to contribute to the country’s economy. By investing in Costa Rica, this residency option allows you to enjoy the benefits of living here, while pursuing business opportunities or personal ventures. Whether you’re investing in real estate, eco-tourism, or other thriving industries, this residency category paves the way for a smooth transition.
Moving to Costa Rica is a wonderful idea. The best way to get your residency is to invest in Costa Rica. To do so, must hire the best Costa Rica immigration experts. Look no further! This article will outline Costa Rica´s residency requirements as an investor. And why not invest? Our country is beautiful, secure, and peaceful. Move to Costa Rica, and enjoy our beautiful beaches, our perfect climate and a secure legal atmosphere to invest. Let us secure your temporary residence so you can opt for a permanent one later on and even citizenship.
Apply for Costa Rica Residency as an Investor:
Costa Rica offers a variety of residency options for foreigners looking to live in the country. One of the most popular paths is the Investor Residency (Residencia por Inversionista), which is designed for individuals who are willing to make a substantial financial investment in the country. This guide explores the key requirements, processes, and benefits of obtaining residency in Costa Rica as an investor.
What types of investments can I do in Costa Rica to obtain residency under this category?
You can obtain residency in Costa Rica by investing in the country. This category is available for foreign nationals who invest at least USD 150,000. The investment must be made in local currency. You can choose to invest in a Costa Rican business, industry, real estate, or a project of national interest. After three years of temporary residency, you become eligible for permanent residency in Costa Rica. It´s important to note that until your residency becomes permanent, you can´t work for somebody else. However, you can create a corporation and start a business from scratch from day one. You can create enterprises and a company but can´t work for one, as a worker, until you have permanent resident status.
Invest in Shares and Securities:
You can make corporate investments in Costa Rica, both in shares and securities. These investments, can be done in several ways to obtain residency. One way is by acquiring shares in an existing corporation by purchasing them for at least US$150,000.
Another way is by incorporating a corporation in Costa Rica from scratch. The Capital Share Value must be for at least USD 150,000. Once this is done, and the corporation is registered, you can purchase property through the corporation.
Investing in Real Estate
You can file for residency as an investor if you purchase real estate for at least USD 150,000. The investment must be in your name and free of mortgages. If you wish to invest by purchasing property through a corporation, we will guide you step by step. By filing a corporation with the corresponding stock, at a minimum of US$150,000, the Costa Rican investment is made. The corporation can then proceed to purchase the property for sale.
Investment in Lucrative Projects:
The applicant is required to provide the General Directorate of Immigration with a detailed description of all investments, income-generating projects, or initiatives of national interest that have been or will be undertaken in Costa Rica. This submission must include a certified copy of the project’s feasibility study, which must be prepared and validated by a licensed public accountant (CPA).
Investments in Reforestation:
For investments in reforestation plantations, the applicant must provide the General Directorate of Immigration with a certification from a licensed public accountant confirming an initial investment of at least $100,000 USD in reforestation projects. Additionally, the applicant must demonstrate the total investment value as outlined in the Forest Management Plan, in accordance with Article 70 of Forest Law No. 7575.
Immigration and General residency requirements / Costa Rica residency laws.
For foreign nationals to reside in Costa Rica, you have several options or categories that immigration law provides. Obtaining residency requires general and process-specific documents. Below is a brief description of the main categories available and legal residency requirements. Your residency process may take from six to fifteen months once all documents are filed. We will help you every step of the way, to obtain your Costa Rican residency in no time.
Important Documents:
- Birth certificates and passport-size pictures
- Marriage certificate (only necessary if you are applying together as a family).
- Completed immigration form. (We do this for you.)
- Application and power of attorney. (We do this for you as well.)
Consular Registration:
Consular Registration is another requisite that must be fulfilled. This must be done with the Consulate of the applicant’s country. For United States citizens, use the link: https://mytravel.state.gov/s/step
For Canadian citizens, proceed to this page: https://travel.gc.ca/travelling/registration
Other General Requirements:
Personal Background Checks:
A background check (criminal record) for the last three years must be requested to your country’s corresponding legal authority. If you are moving to Costa Rica, from the United States or Canada, you must obtain a federal certification. The FBI issues these documents for US nationals.
For American citizens, criminal records must be issued by the Federal Bureau of Investigations (FBI) in Washington D.C.; for Canadian citizens, they must be issued by the Royal Canadian Mounted Police (RCMP); and for citizens of the United Kingdom, they must be issued by ACRO Criminal Records Office.
Official Document Translations and Other Requisites:
Translations must be given to all documents for the residency application. An official translator in Costa Rica must do the translation to Spanish. We will take care of this for you, with the Costa Rican translators we work with.
Besides fees for this service, you will have to make several deposits, that the Office of Migration of Costa Rica requests. These deposits must be made at the Bank of Costa Rica. We will take care of this for you. Finally, another deposit must be made, to pay for the DIMEX CARD, once the procedures are over.
Benefits of Investor Residency in Costa Rica:
Costa Rica offers an attractive set of benefits for individuals applying for residency under the investor category. These incentives are designed to make relocation and investment in the country more accessible and financially advantageous. Below is a detailed overview of the key benefits:
1. One-Time Exoneration on Household Goods
As a beneficiary, you will receive a one-time exemption from import taxes on household goods, including both new and used items. This provision allows you to bring in furniture, appliances, décor, kitchen and bathroom accessories, and linens in quantities deemed reasonable for personal and family use.
2. Tax Exemption on Vehicles
Investors are entitled to an exemption from import duties on up to two vehicles—air, land, or sea. If a vehicle is lost, stolen, or destroyed, you are eligible to import a replacement vehicle under the same benefit.
3. Tax-Free Income Declarations:
Any funds declared as part of the investment to qualify for residency are exempt from income taxes. This ensures that your financial contributions to meet the residency requirements remain untaxed.
4. Reduced Real Estate Transfer Costs:
During the law’s effective period, beneficiaries enjoy a 20% reduction in transfer fees for real estate purchases, provided the property is registered in the investor’s name.
5. Tax exemptions on Professional Equipment:
Residency holders are exempt from import taxes on materials and instruments directly related to their profession or economic activity. Additionally, beneficiaries will not automatically be classified as taxpayers, which can simplify financial obligations.
6. A Lower Investment Threshold:
One of the most significant updates to the law is the reduced minimum investment amount required to qualify for investor residency. Applicants now need to invest only $150,000 USD in real estate, registered assets, stocks, securities, economic projects, or initiatives deemed of national interest.
7. Longterm Benefits:
All benefits granted under this residency category are valid for a period of 10 years, providing long-term financial and logistical advantages for investors and their families.
FAQS about Moving and Investing in Costa Rica:
Is Costa Rica a beautiful and secure country for investing?
Yes it is. We have the most varied ecosystem on the planet, and both the Atlantic and Pacific oceans, are just a few hours from San José. Tourism in Costa Rica is a driving force, so real estate investing for rentals is a very good business in the country. Several provinces are the best to do this, due to their closeness to both oceans: Guanacaste, Puntarenas and Limon. Guanacaste and Puntarenas are on the Pacific side.
Investing in real estate in places such as Santa Teresa, Flamingo, Conchal, Pagagayo, Tamarindo, Nosara, Samara, and Mal País in Guanacaste, are beautiful places to do business in, and invest in real estate. On the southern side, in Puntarenas, I recommend investing in places such as Jacó, Bahía Drake, Osa, Ballena, Manuel Antonio, and Quepos. Many condos and highrises are available in San José, so purchasing for renting is surely a sound business investment.
What type of investments can you recommend?
Investing in Costa Rica is a good idea. I recommend real estate investments; you can buy real estate and do rentals, especially a good idea near the beaches. Special care must be taken if you wish to acquire beachfront property in Costa Rica, at the maritime zone area. Another good investment idea is private money lending. Our law firm can put you in contact with potential debtors and constitute mortgages for you. Interest in Costa Rica for loan investments varies; you can make from 9% to 12% a year.
Can your law firm assist me to move to Costa Rica?
Yes of course, and our immigration lawyers, have assisted many Americans and foreigners to invest in Costa Rica. Our secure environment in this country makes investing in Costa Rica real estate ideal. I have whole sections in this website, with information for you: from the initial due diligence to the actual real estate purchase closing. You can purchase properties in Costa Rica, in all of the country’s provinces which are: San Jose, Guanacaste, Limon, Alajuela, Heredia, and Puntarenas. Once you immigrate to Costa Rica, under a tourist visa, we can begin your immigration process.
Costa Rica’s investor residency program offers unparalleled opportunities for those seeking the “Pura Vida” lifestyle in a thriving economy. If you want to learn more about these benefits or need assistance with the application process, our team is here to help. Contact us today to make your move to Costa Rica as smooth and rewarding as possible.
Dr. Christopher Pirie Gil.