San Jose, Costa Rica – If the goal of the Costa rican government is to make more and more people leave the country then they are doing a great job. Before, a passport is enough for a foreigner to open a Costa Rican Bank account. However, by July 1, this would not be enough.
The Costa Rican Central Bank has stated that foreigners and special category residents would be required to present their cedula de residencia or residence identity card if they wish to open a bank account. The main reason for this is to provide better security for banks. The government is obviously not thinking about the effects this is going to have on its economy as foreigners are packing up thanks to the new inconveniences that these laws are making happen.
The change is in conjunction to the Costa Rican government’s contribution to the war against the illegal drug industry.
According to Minister of Public Security, Mario Zamora, some foreigners who come into the country as tourists are used as dummies to launder drug money. This is one of the main reasons for the implementation of the new rule.
The new measure also allows these foreigner account holders to make use of the digital signature service. One of the perks of this service is online banking, thus minimizing the need to go to a branch for certain banking needs.
The Documento de Identification Migratorio para Extranjeros or DIMEX card, as well as the Documento de Identification de Diplomaticos or DIDI can be used instead of the cedula. Both of these IDs are issued by the Costa Rican Foreign Relations Ministry.