'Types of Residency Permits'

Types of Residency Permits

One common topic inquired by potential expats in Costa Rica is about getting residencies. How can one apply for a residency permit here? What are the kinds of residencies allowable? Well, there are many types of residencies available in Costa Rica, but for the typical American or European, there are basically three residency types that you can look into. These are, namely:

• Pensionado - These are the residency permits reserved for retirees who regularly receive pension payments. Most retired people opt to go for this type of residency. Previously, one only has to prove that he/she is getting $600 monthly in pension income, although a revision of the immigration laws effective in 2010 orders that this limit be revised to $1000 a month in pension. This income may come from a public source, such as the US government, or even a private source, like the broker house that administers your IRA account.

• Rentista - For small investors, this is the residency permit fit for you. In the old law, you have to prove that you earn $1000 in monthly income, though the same law revision will require monthly income of $2500. You can own a business but not work as an employee, and you will have to stay here in the country for four noncontigous months every year.

• Inversionista - This retsidency type is reserved for large investors. Here you will be required to invest at least $50,000 in a priority industry (such as tourism, forestry, and low-cost housing), at least $100,000 investment in reforestation project, or at least $200,000 in other business sectors. You will be also required to stay in the country for six noncontiguous months.
  

Other expats who deem the process to be too complicated tend to go here as perpetual tourists. In this setup, they get their passports stamped as tourists, spend the 90-day limit, travel to another country for at least 72 hours, and then return to have the passports stamped as tourists. Note that while this is not illegal, this is frowned upon by authorities and may be dangerous especially if you have properties in the country.

Hello -

My husband and I are looking to move to Costa Rica in the near future. I know you are not able to work as an employee there until you have established perm. residency, but I am wondering if anyone knows of American companies that grant visas? Also I have taught high level tennis for years and wondering if anyone knows if tennis instruction is considered self-employment when working at a hotel or tennis club in Costa Rica. I have asked a few of the clubs and can not get a straight answer. Last question, anyone have any ideas about good online companies to work for to make at least the $1000 per month to establish pensionado residency until we can obtain perm. residency. Any ideas are welcome and appreciated. Thank you for your time!!

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