Are you about to retire, or are seeking new experiences in a country that is open to new ideas? Costa Rica offers many advantages that you will want to explore. According to the U.S. State Department there are over 50,000 U.S. citizens residing in this wonderful nation.
Obtaining Costa Rican residency status offers many advantages to make the most of living in this beautiful country.
Investment in Real Estate for Residency
Temporary Residence – Investor:
• Investment of US$200,000 in a business or property.
• Must remain in country at least 1 day per year.
• Can claim spouse and dependents under 18 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 type of business, including manufacturing, transportation, hospitality (hotels, B&B, bar, restaurant), tourism, and of course real estate. There is even a category for qualified reforestation projects, where the required amount of investment is reduced to $100,000.
However, for this article we are going to discuss the real estate investment option.
Investor in Real Estate Requirements
In order to become a legal resident of Costa Rica under the investor category, you will need to have an investment of at least $200,000 in Costa Rica according to the current exchange rate. Many Americans who live in Costa Rica split their time between living in the U.S. and in Costa Rica.
How to Obtain Recognition for Real Estate
The requirement of a $200,000 investment will be based on the actual value as listed on the transfer of the property itself, as well as the municipal records for the property. So for example, if you paid $300,000 for the property but the transfer document shows that it is worth $190,000, then you will be $10,000 short. So, before you finalize the purchase, be sure that the transfer reflects the actual value, which needs to be over $200,000.
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 the first time and 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.
Contact us TODAY to enjoy the benefits of Costa Rica Residency at +506-8373-2085 in Costa Rica or 305-906-6784 from the USA. Or email at [email protected]
We keep the application process simple. In most cases, all you need to do is to provide us with the key documents and be available to be fingerprinted. We do everything else.
We offer many other services as well. Give us a call at +506-8373-2085 for a price quote for any of the services we offer below: