New Pensionado Law

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  • #197741
    micololo
    Member

    With the new Pensionado Law coming into effect in March 2010; can we apply for residency now but only move to Costa Rica in 2011 to still benefit from the $600 a month?

    #197742
    costaricafinca
    Participant

    Yes, you can apply now. Realize though that you are expected to live in CR for 4 months per year to sustain this residency.

    #197743
    DavidCMurray
    Participant

    As a pensionado, under the existing law you are also required to exchange the equivalent of $600US for colones each month. When it’s time to renew your cedula, you will be required to show dated receipts with your name on them to satisfy this provision of the law. It would be difficult if you weren’t here.

    #197744
    Plastina
    Member

    Can’t you exchange $7200 once a year (or $3600 twice a year) and have the bank issue a receipt at that time instead hassling with $600 every month?

    #197745
    DavidCMurray
    Participant

    When we first got our residency approved, our attorney said that when we went for renewal Immigration would want to see a reasonably regular exchange of currency. No, I don’t think it has to be exactly $600.00 each and every month, but apparently they do, in fact, frown on once- or twice-a-year exchanges. What’s the practical effect, other than a frown from a bureaucrat? I dunno.

    Of course, if you’re actually living here, it’s pretty certain that you’re going to be exchanging $600 a month for colones anyway, so all you need to do is keep the receipts.

    #197746
    costaricafinca
    Participant

    We went to the BCR last week for our residency renewal. They didn’t look/ask for any paperwork or receipts at all!

    #197747
    DavidCMurray
    Participant

    costaricafinca, these stories run the gamut. I, too, have heard of folks renewing cedulas with nary a mention of their proofs of currency exchange. I’ve also heard that some BCR branches require an attorney’s or accountant’s written verification of the exchanges. The rationale for the latter is that the BCR employees don’t have the time to tabulate all the receipts. So who knows . . .

    #197748
    costaricafinca
    Participant

    David, I didn’t ‘hear’ anything.
    We were not asked for anything, other than the $67 each for a 2 year renewal.

    #197749
    DavidCMurray
    Participant

    I stand corrected.

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