INVESTOR AND BUSINESS - INVERSIONISTA
Why So Many People Invest in Costa Rica
Costa Rica is one of the friendliest, safest, and politically stable countries in Latin America, and it has emerged as an attractive and safe destination for foreign investment. Not only is the country beautiful but it is also financially sound, making Costa Rica a great country for investment. It has a stable political system, a strong regulatory environment, business friendly policies and sound macroeconomic fundamentals. Costa Rica is determined to keep its place as one of Latin America's best investment location.
Temporary Residency Requirements as an Investor
This program applies to individuals who make a investment in Costa Rica of at least $150,000 USD. The investment can be made in any type of business or real estate.
The investment can include a home in Costa Rica for personal use and also the purchase of land for future development, for preservation, including ecological, reforestation, or environmental preservation purposes. The investment can also be made in any type of business, including free zone, manufacturing, or retail, hotel, Bed and Breakfast, restaurant, tourism industry, tours, adventure-type parks, nature tours, boat tours, commercial real estate and non-commercial real estate. The applicant must prove that the amount already invested has a registered value of at least $150,000 USD.
A married couple needs to show proof of only one investment for both husband, wife, and children up to the age of twenty-five. The investor can be either spouse.
Costa Rica recognizes same gender marriages and the partner can be included as a dependent.
As a temporary resident you can apply for permanent residency after three years.
Once your residency is approved you agree to live in Costa Rica for at least one day per year.
Documents that are needed to apply
Application Letter
We provide the necessary letter to the immigration department stating that you are requesting residency under one of the categories. It will contain your full name, nationality, date of birth, and the full names and nationalities of your parents
Application Form
This is a form from the Immigration Department (Formulario de Filiacion) which asks for much of the same information as the application letter. We will show you how to fill out this form.
Birth Certificate
This certificate must be issued, within the last six months, by the country where you were born stating the names of your parents, place of birth, and date of birth. This is sometimes called the long form. Your original birth certificate will not be accepted by the Immigration Department. It must have an Apostille or be legalized by the nearest Costa Rican Consul. In the case of Consul legalization we must have it legalized by the Costa Rican State Department. If it is legalized by the Costa Rican Consul then an Apostille is not required. It cannot be more than six months old from the date of issue,
Criminal Background Report
Police report or Identity History Summary Certification of your criminal record, issued within the last six months. from your local police authority where you last resided. It is required for everyone twelve years of age or older. It must have an Apostille or be legalized by the nearest Costa Rican Consul. In the case of Consul legalization we must have it legalized by the Costa Rican State Department. If it is legalized by the Costa Rican Consul then an Apostille is not required. It cannot be more than six months old from the date of issue,
Marriage Certificate
If you are applying as a married couple then your spouse is registered as your dependent. This certificate must be issued, within the last six months, by the country where you were married. Your original marriage certificate will not be accepted by the Immigration Department. It must have an Apostille or be legalized by the nearest Costa Rican Consul. In the case of Consul legalization we must have it legalized by the Costa Rican State Department. If it is legalized by the Costa Rican Consul then an Apostille is not required. It cannot be more than six months old from the date of issue,
Investment Certification
The applicant must prove that the amount already invested has a registered value of at least $150,000 USD. For real estate this is the value registered in the Municipality tax base. For other investments it is a statement from a Certified Public Accountant certifying the amount of the investment.
Passport Copy
A certified copy of all pages of your passport, including all of the blank pages. This copy must be certified by one of our lawyers or by the nearest Costa Rican Consul. In the case of Consul legalization we must have it legalized by the Costa Rican State Department. If it is legalized by the Costa Rican Consul then an Apostille is not required. It cannot be more than six months old from the date of legalization,
Photographs
Four passport photographs are needed for the application and for the fingerprinting process.
Embassy Registration
A registration document given by your country's embassy in Costa Rica. Immigrants from countries with no local embassy are exempt from this requirement. U.S.A. citizens can register online at the Smart Traveler Enrollment Program. Canadian citizens can register online at Registration of Canadians Abroad.
Limited Power of Attorney
We provide this limited power of attorney so that we can act on your behalf with the Immigration Department.
Translation
We will have an official translation of all documents that are not in Spanish.
Application Fee
To file the application you must pay an Immigration Department fee of $290. Your name must be included on the deposit receipt.
File number
Once we present your application to the Immigration Department they will give us a file number, numero de expediente, for your application.
Fingerprints
You must be fingerprinted after you have filed your residency application. You will have a receipt from the residency filing and with that receipt you can go to the fingerprinting office. This is done in Costa Rica by the Ministry of Public Security. The fingerprints are used for an Interpol background check. All applicants age twelve or over must be fingerprinted.
After your application is approved
Social Security Registration
After the Immigration Department approves your residency you register at your local branch of the Caja Costarricense de Seguro Social (CCSS) and pay your health insurance coverage. You will need your receipt and a letter stating that you are current with your payment.
Approval Fees
After approval you must pay a government guarantee bond of $300 USD and $128 USD for the residency processing fees. These amounts are paid directly to the account of the Immigration Department at the Banco de Costa Rica.
Appointment
Then we call the Immigration Department and request an appointment for you to process your identification card, the DIMEX card. This is done at the Immigration Department in La Uruca, at branches of the Bank of Costa Rica, Banco de Costa Rica, or at the Costa Rican post office, Correos de Costa Rica.
What to do next
Enjoy your residency or retirement in Costa Rica. The country has attracted a very diverse group of people from many countries around the world. A high standard of living, beaches and mountains to enjoy, cultural activities, great weather, and the quality the Costa Rican people have made it a very popular residency or retirement location.
