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Greetings everyone,
I plan on purchasing a home in CR in the near future. I also plan on applying for legal residency under pensionado. I am still currently working as a federal employee in the U.S., and will retire in 2014. I am a disabled veteran, and currently receiving VA disability compensation monthly that exceeds the $1,000 monthly income requirement for pensionado. Can I use my current VA disability income to immediately start the pensionado paperwork, or, must I wait until I retire from my current federal job, and include that retirement income?
A couple of points to think about…
Your disability income is not a pension, you might want to check with an attorney to see if the folks in CR will count this as a “pension”.
The other point I can think of right now is the requirement that you spend 4 months per year in CR to maintain your residency status. It need not be all at one time… but if you’re still working full-time in the US it’s going to be tough to meet that requirement. Unless of course you have a no-show federal job that they won’t miss you at!! LOL Say like a Senator or Congressman…. then you might get away with it!
Just a pointer…
Costa Rica looks for a Guaranteed income from an outside source, not necessarily being a “pension”, so the VA income IS acceptable if you can get paperwork from the VA to show your entitlement…
I do agree with Imx though on how would you satisfy the 4 months in country aspect of the status?
As for waiting until you retire from your current position, I would start the process shortly (couple of months) before retirement, and as you would have your VA income AND a Government pension, you would have more than needed for the requirements. That said, assuming the rules don’t change again, as long as you can show that the VA income is guaranteed AND is sufficient as you say to meet the requirements, then you don’t have to disclose the Government pension to enable the process.
This will ensure that you meet both financial requirements and after you retire, the “Time in country” requirements and do it comfortably.
Edited on Aug 30, 2009 10:23
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