Costa Rica News – Many people search the web for how to become a Costa Rican resident. There are so many confusing answers out there, that it’s best to consult an attorney for help.
There are three prominent categories under which foreigners can become residents of Costa Rica.
1) Pensionado– The applicant must demonstrate that he receives a minimum monthly lifetime pension of $1,000 or more from a government agency. This amount can cover a spouse, as well.
2) Rentista– The applicant does not have a pension, but does have a guaranteed steady monthly income of at least $2,500 from a recognizable source. This can cover a spouse and minor children. This steady income may be most easily proven by depositing $60,000 in a Certificate of Deposit for 2 years.
3) Inversionista- The applicant has invested at least $200,000 in stock or real estate in Costa Rica.
If you fit any of those three categories it will be only a matter of time. You will need to get a birth certificate, police record, and marriage license, if applicable.
All documents must go through a lengthy process of transcription and authentication. After that, it can take from 3 to 12 months to be approved. During this time, you do not need to leave the country.