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Hello everyone,
Have enjoyed reading the various discussions on this board, and have a couple of specific questions about Rentista money that I haven’t seen answered yet.
1) When you apply for Rentista status, when do you have to deposit the $60,000? For example, before you put in the application? Or once the application is completed?
2) What is the absolute minimum amount of money I would need per month to live? I’m happy to live really simply (as simply as possible, with no car, no luxuries, no bling accommodations etc). I’m thinking of living on the Caribbean coast.
Any input would be greatly appreciated!
Hi Munster,
My husband and I are just waiting for the approval of our Rentista application. We had to submit the bank letter stating we had $60,000 in an account with our application. They wouldn’t accept it without the letter. Also, the requirement has now changed as of Aug 12 to $120,000 for a married couple and more for children. You might have to search around for someone to write the bank letter for you.. we lucked out and had our local branch write it out.
As far as how much you would need per month, that completely depends on you. We met locals there living on $200 per month, an expat living comfortably on $600 per month and a couple living on $3000 per month.
When are you planning on going?
Angela
A recent article in A.M. Costa Rica or the Tico Times said that the minimum wage rates in Costa Rica are going up in January to account for inflation. Apparently, many, many Costa Ricans work for the minimum wage which, for those in the building trades, will be around c5,400 per day (around $10.50). So if they work (say) 23 days a month, their gross monthly income would be around $240. On that, they sustain a family.
I don’t feel like we live a particularly lavish lifestyle, but we spend way, way more than that.
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