Attorney in Costa Rica

Residency in Costa Rica

Residency in Costa Rica

I bet you would like to retire and live in Costa Rica!  Obtaining a Costa Rican residency can be a handful, and it’s best to do it with immigration attorneys. We can help you with this. Our immigration law firm has attorneys to help you with Costa Rica´s residency requirements.  Our country is beautiful.  After visiting for the first time, you will fall in love with it. So why not live here?  You could even end up applying for Costa Rican citizenship.

Our residency and immigration law firm will help you to retire, invest, live, or work in our country. Immigration to Costa Rica will let you enjoy our beautiful beaches, and the perfect climate makes Costa Rica an ideal place to retire. My law firm can help you obtain your permanent residency in Costa Rica or a temporary one. Our immigration attorneys are standing by to help you while you enjoy the beauty of our country.

Many people that choose to live in Costa Rica become “permanent tourists,” leaving the country every 90 days to enter again on a tourist visa. This can be uncomfortable and expensive since they have to do this several times a year. Avoid all of this by obtaining residency in Costa Rica.

Residency in Costa Rica
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Residency in Costa Rica is a good idea

If it’s to purchase real estate, retire, or open a business, your needs will be a priority, for our immigration law firm. You may have many questions about how to move to Costa Rica and what to expect. In this post, I will give you some insight. Even though you can probably do most immigration work yourself, it’s difficult and time-consuming. I recommend you do it through our Costa Rica immigration lawyers. 

For foreign nationals to reside in Costa Rica, Immigration Laws offer various options. Obtaining a residency will vary depending on multiple factors and conditions and require process-specific documents. Below you will find a brief description of the main categories available; we will be more than glad to analyze your case in depth and confirm the most suitable type for you and your family, if applicable.

Consult with the expert

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Residency Costa Rica requirements for Investors

This category is a temporary residence available for foreign nationals who invests at least USD 150,000 in Costa Rica or the equivalent in local currency. It is granted for two (2) years and can be renewed for additional two years as long as the investment remains in place. After three years of temporary residency, you become eligible for a permanent one.

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There are different subcategories that you may use:

Business Investment:

Under this category, you set up a new business or purchase an existing one in Costa Rica. It can be any business if the investment is USD 150,000. You can buy the whole company or part of it, and this can be done by acquiring shares.

Real estate:

You can opt for residency if you purchase real estate (property or land) for at least USD 150,000.

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Retiree residency Costa Rica requirements (pensionado)

This category is a temporary residence. It applies to anyone who is retired and receives pension benefits. It’s available for foreign nationals who receive a government retirement pension or income of USD 1,000 per month or the equivalent in local currency. It is granted for two (2) years and can be renewed for additional two years as long as the pension income remains. This type of residency requires you to visit Costa Rica at least once a year and can be requested for your spouse or children under eighteen. However, you can´t work as an employee in Costa Rica, even though you can own a business or receive dividends from stock in companies.

The Quota Holders and the Manager:

The LLC does not have shares but “quotas”; thus, there are no shareholders but quota holders. Quota holders are required to name at least one General Manager to operate the company, as the attorney in fact. The general manager can be a quota holder as well.

Amendments to the corporation:

Any amendments require 75% percent of the votes of the quota shareholders. The priority right of sale of the quotas is a must in an LLC. Quotas in an LLC can´t be transferred via endorsement. They can only be shared by a transfer agreement, which must be approved by the qualified majority of the other quota holders, which have a right of first refusal. As with the standard corporation, the quota holder´s assembly is the foremost authority in an LLC. A corporate lawyer in Costa Rica must be consulted to draft the incorporation articles. Most attorneys in Costa Rica are notary publics, making the incorporation easier. I can take care of everything as your coporare attorney.

Residency for Fixed Income (rentista)

This category is a temporary residence available for foreign nationals who have a monthly income of at least USD 2,500. It can also be granted with a USD 60,000 deposit in Costa Rica. It is given for two (2) years and can be renewed for additional two-year installments as long as the fixed income remains. There are several ways to prove the monthly income; we can advise you depending on your circumstances. Under this category, you must visit Costa Rica at least once a year, and residency can be given to your spouse and children if requested. Again, you can´t work as an employee for anyone in Costa Rica, even though you can own a company or a business.

Permanent Residency in Costa Rica

This category is a permanent residence, available for foreign nationals who are married to a Costa Rican citizen or have a child born in Costa Rica. Again, it would be best if you visited Costa Rica at least once a year. Permanent residency in Costa Rica can be requested for your spouse or children. With this residency, you are allowed to work for a company and can also own one and receive dividends.

Residency Costa Rica requirements due to marriage to a Costa Rican national

This category is a temporary residence available for foreign nationals who marry Costa Rican citizens. It is granted for one (1) year and can be renewed for additional one year, as long as the marriage continues. Authorities can request an interview of the couple for the renewal. The marriage must be registered on the Civil Registry in Costa Rica. After three years of marriage, you can request permanent residency in Costa Rica.

Conclusions

Moving to Costa Rica is a daunting task. My law firm provides of counsel immigration attorneys to help you acquire your residency in Costa Rica. In the meantime, we can also help you establish yourself by providing you with corporate structures to buy real estate. As attorneys, we stand by to help you with your legal needs. We have attorneys that do specific immigration work every day.

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