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Originally Posted by KCat
Webby, can you tell us more about that? I was looking into the rentista category since apparently the $60K for a husband & wife is going to double after August 12th. I don't like the idea of having to leave every 90 days in case they do start cracking down on the perpetual tourists & decide to deny entry.
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Hola! You seem to be more aware than I am - I never knew of plans to double the $60K for rentista residency.
At the moment a quick summary of the rentista program is:
(a) Proof of US$1000 per month (the level the govt deems a person can live on for a month here - possible, but not recommended
) for at least five years, guaranteed by a banking institution, - alternatively a US$60,000 deposit in an approved Costa Rican bank. In real life this requirement falls into oblivion after 2 or 3 years living here and is not enforced.
(b) Cannot work as an employee, but can own a business/company and take whatever profits/income from this.
(c) Be living in CR for a least four months a year - tho who's counting.
OK.. On the 90 day visa, the *actual* circumstances are that a good number of folks have been living here for 15 years and more on this basis and without formal residency.
It is also legal to simply have a 72 hour departure and have a tour around Panama or Nicaragua and then enter CR for a further 90 day visa term. Visa's can also be extended outside the 90 day term (but not too familiar with that).
Generally, there is no desire to stop entry from anyone who is obviously going to be spending money in the country and the main concern of immigration are folks from Nicaragua where they enter basically similar to the scenario with Mexico and the US.
It is most probable that there will be changes in immigration requirements in the near future - so prob best to get a foot in the door now before that starts.
This is only my experience so far - basically residency is "flexible" depending on who you know and who your lawyer is blah. I've been offered residency by lawyers in the govt for just having a car as an asset. Other lawyers are exteremely rigid. Others in between can arrange residency based on a company being formed. The "official" view is in the various forms of residency published around the next - and the rentista program is one of them. Bottom line - it's basically down to who you know here.
I've not found it to be a big deal with residency - all they need is a current and clean police report (dated within six months), passport details, fingerprints for an Interpol check and around $1500 in fees and company formation stuff.
You may have a lawyer already for this, but recommend being "all ears" with him and seeing what he has to offer. If that does not suit - change the lawyer until you get one that presents a scenario for residency near to what you want.
Once your residency application has been lodged with immigration, they will take time (a long time!
) to process this and you are free to leave and enter CR without problems.
Another factor is... you will not be paying any taxes in CR for any income or funds pulled into Costa Rica. Example.. you may have a net company in Panama and withdraw revenue from that company and pull it into CR has no taxes applicable. (And neither does the Panama corp).
Not sure how familiar you are with CR, but it's not rigid as with industrialized countries and *almost* anything is possible one way or other
Hope this helps!
