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I have lived on a shoestring budget all my life and don’t expect this to be any different in Costa Rica. I have lived on less than $1000 a month with (at first 4) now 2 grandsons. I’ve always been able to tighten my budget to fit my situation. I know if I look around I can find some pretty cheap rents in Costa Rica. My question is about the $1000 a month requited for the pensianado status of residency. I have read in my research where some people claim this is only $600. What is right? Also, if I have $865 a month in social security and a couple hundred a month more would that be acceptable to apply for residency?
Gracias por la ayunda
MJ
No, sorry to say, you are required to have at least $1000 per month, from a ‘guaranteed for life’ pension to apply for [url=http://costaricalaw.com/Immigration-and-Residency/]Pensionado Residency[/url]. It will cost approx. $2500-$3000 to complete the application.
Years ago, only $600 was required. At $1000, it would be [i]very[/i] difficult to live here and to keep on that budget, even if you owned a home outright and [i]really[/i] curtailed your spending.
I agree. Living in Costa Rica is not significantly cheaper now than living in the US. Yes, you can find cheap rents but that is true many places in the States and some of the places with REALLY cheap rents in Costa Rica are far more basic than you might imagine.
Without a Social Security benefit of at least $1,000 per month you won’t qualify for residency. Do you have perhaps another small lifetime pension that might make up the difference? For instance, a teacher’s pension is considered “guaranteed income” for residency.
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