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Hello to all, anyone knows what would be the monthly amount for a family of five applying for rentista if this new Draft get passed?
5.000$ x 5 = 25.000$ ? that amount does not sound realistic, let’s wait and see.
Saludos, Rafael
It’s a wait and see game as to how (and IF) these new proposals go through. With a family of five I’m guessing some will be minor children? I’d hope that the new rules will provide allowances for minor children, if not the idea of relocating with a young family would be cost prohibitive for most folks! Unless of course you have the money tree growing in the yard back home as some Tico’s believe! LOL
Hi Imxploring, yes me, wife and my 3 minor son/daughters, no matter how often I water my money tree in the back yard it is not producing 25K$ a month 🙂 5K$ is a lot of money still is much less compared to the monthly sum we need to keep the family happy with the “basics” needs in the US, no luxury just food, home & education.
regards rafaelLet’s hope the new proposals, if passed, makes allowances for minor dependents. If not the dream of moving to CR with kids is over for most people! While I’m not sure that Oscar and the boys know what their doing on this one, I do hope they see that a family cannot afford $25,000/ Month for the pleasure of living in CR. If they could… I can think of any number of places I would rather be hanging my hat! Good luck Rafaelo!
A few of my friends rushed to get their rentista residency when they changed the requirements from $60,000 for a couple, to $60,000 for each adult and $30,000 for each minor child. Didn’t this go through? Those new guidelines already eliminated some people from this category because it required a deposit of $200,000 for a family of 5 (including 3 kids).
Read AM Costa Rica – its just a little closer to law.
Just a thought – if Rentista was 10000 USD/month; I would change it into colones, spend 1000 bucks and then change back and xternalise 9000 right? (hyperthetical) – so my spend rate in CR would not go up a cent. So why is this a useful bit of law? Problem is I cant possibly get 600K together at one point in time. Would the government not be better to keep it at 2000 (2X 1000) and make you spend it in CR?
Rich
The new proposal is much higher than the one they tried to or did pass in 2006. The new requirements would certainly weed out the poor people, which is maybe what CR wants. Even the new proposed pensionado requirements are pretty stiff as the $2000 mark is about the maximum you will get on SSA. I know very few pensionados in CR who had that much in income so what does that mean in the end? They all have to pack up, sell their houses, and then do what? Where in the States can you live on less than $2000 a month? A hollow in West Virginia?
It seems that the wheels of progress are turning all that much faster. According to A.M. Costa Rica this morning, we now have a new immigration bill that has been officially published in La Gaceta with the bill being sent to the full legislature next week. This seems to be very quick but more to the point, very determined.
We were planning to come in as rentistas but $5,000 per month per person is simply not going to happen. We think Costa Rica is a great place but it is not worth $10,000 per month or $600,000 in a bank deposit. Presently, we live in a first world nation that we feel safe in, we have all the efficiency, comforts and ease associated with that very lucky happenstance and we were willing to sacrifice some of that for adventure and learning in a place that is beautiful and welcoming.
We realize that there would have been trade offs coming to Costa Rica but we were more than willing to make those trade offs because affordability is a major attractor. With this new immigration bill, affordability has been removed as something that offsets the very real negative factors that Costa Rica has e.g. crime including graft, inefficiency and poor infrastructure.
There are many beautiful and welcoming places in the world. Costa Rica has to compete with these places for people like us and be realistic in what it has to offer. Perhaps the present Costa Rican administration has made a calculation and decided upon this course of action for what it considers good reasons. Peripherally, it is interesting to note that there was a senior minister on a raid of the Hotel del Rey this past week. Perhaps, this was an indicator that the present administration has had enough with the continued gringo predilections for prostitution and the associated crime surrounding it. The Government may see the raised entry requirements as a way to remove, at least for part of the year, people with unsavoury associations from the country.
Sadly, it seems that our plans to move to Costa Rica as residents may be over due to these new requirements. I suspect we are not the only ones.
Feel free to email this letter which Scott Oliver, Javier Zavaleta, Christopher Howard and Ryan Piercy have just emailed to the email addresses below voicing our concerns about this proposed new policy:
——————
Estimados Senores
Escribo por este medio para expresar mi gran preocupación con el texto sustitutivo de los Artículos 78 y 81 a la Ley de Migracion y Extranjeria, expediente No. 16.594, publicado en La Gaceta el pasado 27 de octubre del 2008.
Articulo 78 requeriría que extranjeros retirados que quieran aplicar por residencia bajo el Programa de Pensionados comprueben que disfrutan de una pensión minima de US$2.000 por mes. Considero que este requisito es tan alto que efectivamente acabaría con el programa de pensionados en Costa Rica. Pido por este medio que retengan el requisito de probar una pensión de $600 por mes, ahora en efecto.
Articulos 78 & 81 requeriría que extranjeros rentistas comprueben que disfrutan de rentas mínimas de US$5.000 por mes. Considero que este requisito es tan alto que efectivamente acabaría con el programa de rentistas en Costa Rica. Pido por este medio que retengan el requisito de rentas de $1.000 por mes para rentistas solteros, y que cambien el requisito a US$1.500 por mes por familia, incluyendo el rentista, el cónyuge e hijos.
Señores Diputados, el impacto en la economía y la sociedad costarricense seria terrible si aprobaran el texto sustitutivo en la forma publicada en La Gaceta. Pido, por favor, que implementen lo aquí sugerido para que Costa Rica continúe siendo un país que recibe a extranjeros decentes con los brazos abiertos.
Sinceramente,
————-
Addresses for the members of the comision:
– Olga Marta Corrales Sanchez (PLN) ocorrales@asamblea.go.cr
– Sandra Quesada Hidalgo (PLN) squesada@asamblea.go.cr
– Oscar Eduardo Nunez Calvo (PLN) onunez@asamblea.go.cr
– Lesvia Villalobos Salas (PAC) lvillaloboss@asamblea.go.cr
– Alberto Salom Echeverria (PAC) asalom@asamblea.go.cr
– Mario Alberto Nunez Arias (PML) mnuneza@asamblea.go.cr
– Gladys Gonzalez Barrantes (PLN) ggonzalezb@asamblea.go.cr
– Elizabeth Fonseca Corrales (PAC) efonseca@asamblea.go.cr
– Jose Merino del Rio (PFA) jmerino@asamblea.go.cr
– Francisco Antonio Pacheco Fernández, Presidente de la Asamblea Legislativa pacheco@asamblea.go.crThe addresses can be copied and pasted from this chain:
ocorrales@asamblea.go.cr; squesada@asamblea.go.cr;unez@asamblea.go.cr; lvillaloboss@asamblea.go.cr; asalom@asamblea.go.cr; mnuneza@asamblea.go.cr; ggonzalezb@asamblea.go.cr; efonseca@asamblea.go.cr; jmerino@asamblea.go.cr; fpacheco@asamblea.go.cr
I’d have to agree Scott… placing such high requirements would infact be an end to both program for 95% of folks thinking about the move! Besides… as much as we love CR, if one was able to come up $25,000/month for a family of five… they’re are MANY other nice places to live in the world! Panama is right next door and will enjoy a big boost if these changes go through!
We can only hope that they see the financial impact this will have on the flow of investment and jobs in CR. With the slowing world economy it’s an odd time to be looking to make such changes that will decrease the flow of investment. China can’t possibly make up the difference! LOL
Maybe they’re just starting high knowing the final numbers will be lower…
Perhaps it’s part of a bigger plan to limit the flow of retirees and refugees from the US once the bottom completely falls out and the mass exodus begins. Odd how this proposal got a life of it’s own and is movng so quickly in a country known for it’s normal snail pace when it comes to change! Maybe Oscar made good use of that slush fund and has greased the right palms!
We’ll all just have to wait and see!
Edited on Nov 12, 2008 13:50
Hi
my Spanish is not good
is your suggested amount 1500 USD rentista for a family? ie lower than 1000 each + 500/child as it is now
sorry my translator is crap lol
Rich
Quote: “…..el impacto en la economía y la sociedad costarricense seria terrible …..”
How terrible ? Figures please ?
Probably bad times are coming up for realtors 😉
Who could calculate that damage — we’d first have to find out how many expats with less than $2000 a month are going to be forced to leave the country. Do we know how many maids, gardeners, cooks, etc. will have their income cut because those expats will no longer be employing them? How many expats get how much money that will be lost to the economy? Does anyone know and can it even be assessed at this point? I sent Scott’s et al letter to everyone I know in Costa Rica. We each added our own sentiments at the end of the letter along the lines of “I’ve invested my life savings in Costa Rica to buy land and build a house, and if I am forced to leave because of this new legislation it will be a disaster for me and all the people I employ and all the ways in which I contribute to the Costa Rican economy” blah blah blah. My husband said we should sell and move to Nicaragua, but I don’t want to live in Nicaragua — I want to live in Costa Rica!! I found out today that we could both apply for permanent resident status because we are artists, so maybe that is what I’m going to do even before I go to immigration in April to renew my pensionada status. Sheesh. I guess this is one of the hazards of living in a banana republic.
Wrong question “Who could calculate that damage”. You talk about “damage” but certainly economists and sociologists can say more about the POSITIV effects.
A letter from a few realtors does not impress a government.
Very good law to keep “poor” pensionados out of the country. No more abuse of maids, gardeners, cooks etc. for just 1 buck an hour. That is one of the positive effects !
@ sumaSAL,
real estate is a HUGE CHAIN working for the positive development of a country and their economy, aside to be the dream for everyone to be able to have a nice home to own and live, also please show more decency and respect towards people, being poor and retired doesn’t meant to be an abuser, I know people like you very well hating everyone because you have not realized yourself as a productive individual, the sooner you leave your immature positions towards the people the better your future will be, I’m also curios to know how much YOU make per hour.
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