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Pensionado Rentista - Small Investor

This residency category is for people who have a small amount of money they can invest for a 5 year period in order to reside in Costa Rica legally.

This category is for people who are not old enough to collect a pension yet, but would like to reside in Costa Rica on a semi-permanent basis. Applicants for this category must prove at least $1,000 of monthly income. One way to acquire this status is to deposit $120,000 in an interest bearing dollar account in a National Costa Rican bank as a CD or annuity. The bank will then pay out a sum of $2,000 per month or $24,000 a year over a period of 5 years.

In some corrupt cases the government owned banks have been known to keep the interest earned from these accounts as part of the condition.

If one would like to come down with a spouse then they will have to deposit the same amount. If bringing a child under the age of 18 they will need to deposit half. This category does not pay taxes on income earned outside Costa Rica.  Applicants in this category can also own a company and receive dividends from that company.

Other important conditions include:
1. Upon approval of the residency, the beneficiary may get involved in business activities but cannot be hired as an employee. ONE CANNOT WORK!
2. The income may come from a local or foreign bank.
3. After the grant of residency, the beneficiary must live in the country for at least four months per year (consecutive or staggered) in order to maintain the status.

Renewing Status and Applying for Permanent Residency

ew residents will need to renew their status every two years and prove that they have been in the country the number of months required by law. Residents must show receipts as well that correspond with the required amounts that they are told to maintain in the country and according to the number of family members they have living in Costa Rica.

After three years a resident can apply for permanent residency.  With permanent residency one can enjoy all of the rights of a Costa Rican citizen except that  they cannot vote. Basically, in order  to convert the status, a resident must show that they will be contributing to the country in a positive way. Once someone has permanent residency they do not need to be in the country the for the monthly periods, but they are required to visit Costa Rica at least once a year.

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