The new Immigration Law which came into effect on March 1, 2010, has now been complemented with the publishing of the Regulations in La Gaceta (official Government publication), on January 28, 2011, for review and public comment.

The two most prevalent Temporary Categories of Residency applied for by foreigners being “Pensionado” and “Rentista”, remain very “mechanical” in the Application process, with each category requiring minimal supporting documentation, including an certified original Birth Certificate, a Criminal Records Search by a Police Force in your country of origin, (a certified Certificate of Marriage, if applicable), a certified complete copy of your Passport, and a Financial Responsibility Letter from a recognized financial institution, or pension authority.

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In the case of the Pensionado Category, pension income of a minimum of US$1,000.00 per month must be shown from a recognized pension source for life.

In the case of the Rentista Category, investment income of a minimum of US$2,500.00 per month must be shown for a period of at least two years. These financial amounts include a married couple with minor children.

All documentation must be authenticated by the Government Agency in the country of origin charged with authentication of documentation to be used by a foreign jurisdiction and by the nearest Costa Rican Consulate, or Embassy in the country of origin, or in the Apostille format if the country of origin is a signatory to the Hague Treaty in that regard, and…

Registration with the Embassy of your country of origin in Costa Rica must be included with the Application and an Application for Social Security Medical Insurance (CCSS), must be made following the granting of the Residency Application. The most common way for the Rentista Category financial responsibility requirements to be met, is to deposit $60,000.00 U.S. into a Costa Rican bank, which will write the required financial responsibility letter for the Application.

Another Temporary Residency Category is the “Inversionista” or Investor Residency Category. This Category requires a minimum of a $200,000 U.S. investment in Costa Rica, in property, corporate shares, securities, production projects, or projects of a National interest.

The interesting thing about this Category is that it is discretionary in nature to grant an Application, whereas the Pensionado and Rentista Categories are not. The history of this Category under the old Immigration Law, was that the particular investment had to import some “social good” to Costa Rica (eg. create employment opportunities for Costa Ricans).

The new wording contained in the Regulations for this Category, would suggest that there may be a relaxation of the requirement “to import some social good”.

In any event, this Category will continue to be a somewhat riskier Category to apply under, until a few test cases have made there way through the System in about a year’s time to establish the tone of the discretion to be exercised by the Immigration Department.

Each of the Temporary Residency Categories carries a restriction against working in your own name for a salary, or wages, unless specifically granted permission to do so by the Immigration Department.

Following the holding of Temporary Residency for a period of three years, a Resident may apply for Permanent Residency status, which does not have a financial component, nor is working in your own name restricted.

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Written by Attorney Richard (Rick) Philps who is a Canadian citizen, naturalized as a citizen of Costa Rica. He was born, raised, and educated in Victoria, British Columbia, receiving a Bachelor of Arts Degree in 1977, and a Bachelor of Laws Degree (English Common Law) in 1980, from the University of Victoria. He practiced law in Victoria, as a member of the Law Society of British Columbia, for fourteen years, prior to moving to Costa Rica in 1998.

Mr. Philps returned to university in San Jose, Costa Rica, earning his Bachelor of Laws and Licensing Degrees (Civil Law), with Honors, from the Metropolitana Castro Carazo University, and a Post-Graduate Degree in Notary and Registry Law, from the Escuela Libre de Derecho University, in San Jose. He is a member of the Costa Rica College of Lawyers, a Notary Public, and has practiced law in Costa Rica since January, 2003. Mr. Philps practices law in the areas of real estate and development, corporate, commercial, contract, banking, and immigration.

To speak with Attorney Rick Philps and Attorney Roger Petersen about hiring them as your Costa Rica attorneys, please contact them using the information below:

Andrew Makarik

to@welovecostarica.com

Andrew Makarik is the main editor of WeLoveCostaRica, a fan of this sunny country. He is also a loving husband and a has a lovely daughter. By being a devoted family man and the biggest Costa Rica fan, he wants to make more people feel at home there. WeLoveCostaRica unites people and helps them find new home or a new travel destination. This website is a friendly community where everyone can find not only information, but also new friends and travel pals. Andrew is also passionate about IT and programming, so he himself maintains a friendly atmosphere in this cozy environment of WeLoveCostaRica.com.