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The IRS is going after the low hanging fruit. Meanwhile, the wealth and smart money is flowing into precious metals and diamonds! Some in the expat middle class are finally waking up! The IRS and Treasury can attempt to track the worthless paper money that the fed prints, however, they cannot track precious metal and diamond ownership or deposits. As a wealthy friend once told me, “You have to know the game, and you have to know the players.”
It is now a requirement that an expat have residency in order to open or keep a bank account in Costa Rica. Our accounts were closed by the banks last year and could only be reopened (reactivated) if I had a DIMEX card which is my cedula. Before this new law took effect, the accounts could be opened using a passport number. Now, that is no longer possible. So now, if you are not a resident, you can get neither a bank account nor a driver’s license.
this is going to be problematic for a lot of people. so many people complain that CR should be like the US, well, now it IS!!! Welcome to the new reality of more rules, rules, and rules.
Costa Rican banks are closing all accounts of foreign expats unless the account is tied to the information on a residency card. All of our accounts were closed while we were gone to the states. When we returned to Costa Rica in December, I had to reactivate my accounts using my DIMEX residency card. Formerly, the accounts were tied to our passport numbers. At one bank, CoopAgri, my husband and I both had accounts. They would not allow him to reopen his accounts because he does not have residency. They did give him the money that was in his accounts at the time the bank closed the accounts. I was the only one who could reopen my accounts because I do have residency. The net effect of this is that anyone who does not have a current residency card can not open or continue to have a bank account in Costa Rica. The banks told me that this is a new law in Costa Rica. This was the first time that I had heard anything about this. I had heard about Costa Rica not giving a driver’s license to people without residency but not about the banks closing accounts that were tied to passport numbers.
[quote=”rosiemaji”]Costa Rican banks are closing all accounts of foreign expats unless the account is tied to the information on a residency card. All of our accounts were closed while we were gone to the states. When we returned to Costa Rica in December, I had to reactivate my accounts using my DIMEX residency card. Formerly, the accounts were tied to our passport numbers. At one bank, CoopAgri, my husband and I both had accounts. They would not allow him to reopen his accounts because he does not have residency. They did give him the money that was in his accounts at the time the bank closed the accounts. I was the only one who could reopen my accounts because I do have residency. The net effect of this is that anyone who does not have a current residency card can not open or continue to have a bank account in Costa Rica. The banks told me that this is a new law in Costa Rica. This was the first time that I had heard anything about this. I had heard about Costa Rica not giving a driver’s license to people without residency but not about the banks closing accounts that were tied to passport numbers.[/quote]
unfortunetly I am having to agree with costa rica’s strategy.
the U.S. has become such a bully that its not worth the hassle of keeping american accounts open.
best to get your residency and go through the legal way.
Does this account closing apply to bank accounts held thru a CR corportation? I have a bank account at BN. as of the 2 days ago. I was able to access my account. I pay all my utlitiies, cable, internet in the states thru this account. I was also able to make an ATM withdrawal a couple of days ago in the states.
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