Of the many ways to qualify for residency,…
Did you know that with the investment in real estate you can apply for your residency status in Costa Rica?
Are you about to retire, or are you seeking new experiences in a country open to new ideas? Costa Rica offers many advantages that you will want to explore. According to the US State Department, over 50,000 US citizens reside in this beautiful nation.
Obtaining Costa Rican residency offers many advantages to make the most of living in this beautiful country.
Temporary Residence – Investor:
• Investment of $150,000 USD in a business or property;
• Must remain in the country at least 1 day per year;
• Can claim spouse and dependents under 25 years of age;
• Income allowed from the investment (such as rental income);
• Can own a company and receive dividends.
Investment can be made in any business, including manufacturing, transportation, hospitality (hotels, B&B, bar, restaurant), tourism, and real estate.
However, for this article, we will discuss the real estate investment option.
Investor in Real Estate Requirements
To become a legal resident of Costa Rica under the investor category, you will need to invest at least $150,000 USD in a property in Costa Rica according to the current exchange rate. It’s very important that your property is registered in the Registro. Many Americans who live in Costa Rica split their time between living in the USA and Costa Rica.
How to Obtain Recognition for Real Estate
The requirement of a $150,000 USD investment will be based on the actual value as listed on the transfer of the property itself and the municipal records for the property (Registro). So, for example, if you paid $200,000 USD for the property, but the transfer document shows that it is worth $140,000 USD, you will be $10,000 USD short. So, before you finalize the purchase, be sure that the transfer reflects the actual value, which needs to be $150,000 USD or more.
Check out the list of requirements common to most forms of residency applications in Costa Rica. At Costa Rica Immigration Experts, we’d be happy to help you file correctly so you can enjoy your residency as quickly as possible.
Costa Rica Immigration Experts has the knowledge, expertise, and insight needed to help you get established in the beautiful country of Costa Rica.
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