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Hi, I’m Marie, a very young 55 year old single woman, living in Florida and looking very seriously at coming to live in Costa Rica (probably San Jose area).
I have a permanent retirement income of $955/month USD, and additional monies to use if need be.
I am not a shopper, prefer the slower pace of life and have experience living in Ireland, Canada, and several states in the US.
I will need internet, cell phone, hot showers, but no desire to own a car. I’m actually a Realtor in Florida and understand the laws about not working in C.R., so I want to make sure that it’s possible to live a ‘nice’ but not necessarily afluent lifestyle on about $1200/month.
I’m excited about Costa Rica, will come for at least one if not two familiarization trips within the next few weeks to see what I think.
I am extremely outgoing and figure it will take me about 15 minutes after I arrive to meet people and begin some friendships – first thing I want to do is learn Spanish.
Is it realistic to think I might be able to have a nice lifestyle on the money I have?
I welcome all suggestions!!!! Thanks
As of March 1st the new rules go into effect that will call for a guaranteed pension of [b]$1000[/b] or SSC when applying for residency under the [i]pensionado catagory.[/i] Unfortunately, you have just a ‘tad under’.
For one person to live here on that, should be fine, but this would depend heavily on what you rent for accommodations and where.Yes, my guaranteed income is just a ‘tad’ under the requirements, unfortunately – thank you for that information – it’s news to me. Is there a way to supplement that ‘tad’ short with dollars in the bank? I thought I read something about transfering a certain amount of USD to local currency on a monthly basis that would also qualify…..I could certainly do this within reason. Where can I find out more information here, before I arrive about the new requirements?
I need to actually live in Costa Rica for 4 months before even applying for residency, right?
Can I come and ‘live’ without residency? What are the restrictions? Would there be things I would not be able to do without it? What is the new requirement for a ‘couple’? Do you have to be married?[quote=”costaricafinca”]As of March 1st the new rules go into effect that will call for a guaranteed pension of [b]$1000[/b] or SSC when applying for residency under the [i]pensionado catagory.[/i] Unfortunately, you have just a ‘tad under’.
For one person to live here on that, should be fine, but this would depend heavily on what you rent for accommodations and where.[/quote]Regarding the new rules … is the $1,000 a per individual requirement like the $600 rule? Is it also a requirement that the money come from a pension? I am self employed and have an equivalent (much better) rental property income, but no pension. I can afford the move but have not got a “pension”. Is there any way for me to qualify under the new rules?
Mike
Yes, this replaces the previous amount required of $600. And this is good [i]for a couple and or a family[/i]. But, this wouldn’t really be enough to support a family ifthis was all the income you had.
The $1000 must be from a [i]guaranteed source[/i], not from rental income, etc.
You can apply as a rentista, depositing funds which you will then have deposited in ayour bank account every month. Here is a site that explains it better than I can, [url=http://blog.therealcostarica.com/2009/08/13/the-new-costa-rica-immigration-law/]New residency requirements[/url].My income is from a former employer pension for life – not other income, so as long as I get the required letter, I’m assuming that will work. That doesn’t include my other income. I’m working hard on it now so that I don’t miss this opportunity.
[quote=”costaricafinca”]Yes, this replaces the previous amount required of $600. And this is good [i]for a couple and or a family[/i]. But, this wouldn’t really be enough to support a family ifthis was all the income you had.
The $1000 must be from a [i]guaranteed source[/i], not from rental income, etc.
You can apply as a rentista, depositing funds which you will then have deposited in ayour bank account every month. Here is a site that explains it better than I can, [url=http://blog.therealcostarica.com/2009/08/13/the-new-costa-rica-immigration-law/]New residency requirements[/url].[/quote]If the ‘other income is not guaranteed for life’ such as govt or private pension, annuity or SSC it cannot be combined with your pension.
Meaning no disrespect to costaricafinca, I think you both need to have a comprehensive discussion of your own personal circumstances with a knowledgeable Costa Rican attorney, one who specializes in residency matters. The new law is about to take effect. It will bring with it new requirements and pitfalls.
What’s more, the very worst thing you, I, or anybody else could do is assume that if one thing is true then something else must also be true (like that longterm and reliable rental income will suffice for income purposes). Just because it makes sense to you and me doesn’t mean it’ll fly with Immigration.
Go to the best, most professional, source you can find and get the best advice available.
If you need a referral to an attorney who has served us and others very well, send me a private message.
San Jose is quite expensive
However the virgin country areas–which in many cases are no far from the capital offer a considerable cost advatageCan I get your take on Santa Ana? I am looking for safety first, and a nice reasonable clean place in which to make my new home – one where I will have access to the city without a car, yet still be able to build a strong friendship circle. Marie
[quote=”kordan”]San Jose is quite expensive
However the virgin country areas–which in many cases are no far from the capital offer a considerable cost advatage[/quote][quote=”DavidCMurray”]Meaning no disrespect to costaricafinca, I think you both need to have a comprehensive discussion of your own personal circumstances with a knowledgeable Costa Rican attorney, one who specializes in residency matters. The new law is about to take effect. It will bring with it new requirements and pitfalls.
What’s more, the very worst thing you, I, or anybody else could do is assume that if one thing is true then something else must also be true (like that longterm and reliable rental income will suffice for income purposes). Just because it makes sense to you and me doesn’t mean it’ll fly with Immigration.
Go to the best, most professional, source you can find and get the best advice available.
If you need a referral to an attorney who has served us and others very well, send me a private message.[/quote]
Your advice sounds very sound indeed. My husband and I recently purchased some property and are still about 3 years from having enough income to meet the new residency requirements. I noted in the articles that it is also indicated that you will be required to enroll in the Caja Costarricense de Seguro Social. Does anyone have an idea how much that would cost two people per month? Again, we are just trying to get an idea so we know what kind of resources we will need to make the move. Thanks!
I know one couple personally and have read about many others who are paying over $100 per month for CAJA [i]so be prepared to pay more.[/i]
Make sure that you also have enough to pay for private medical services, that you may decide to pay for, out of pocket, rather than wait for extended periods, for referral to specialists, etc.Right again, costaricafinca.
My understanding is that each person’s or family’s cost for CAJA will be thirteen percent of their adjusted income. When you apply, you’ll have to state your income and then tell what your expenses are. As I get it, the premium will be based upon your net disposable income after expenses.
ARCR has a longstanding contract to enroll its members (individuals or families) for a flat $40US per month. So far, the CAJA has not told them that this will change. So it might be worth the effort to join ARCR and enroll in the CAJA via their contract.
Too, heed costaricafinca’s advice about having resources to pay for services that either are not available through the CAJA or for which there are long waits. Remember, the CAJA does not provide all medications.
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