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I have recently been told by someone at the ARCR that the new “Restista” guidelines are NOW in effect, meaning that if I present all required paperwork now (prior to the August 12th deadline?) I will be reqired to deposit $60,000.00 each for my wife and I and another $30,000.00 for my eight year old daughter ($150,000.00 instead of the $60,000.00 usually required for the entire family). I’m confused, I thought we had until August 12, 2006 to have all requirements met with a $60,000.00 deposit for a $1,000.00 per month guaranteed income for five years? We have been working franticly to beat the deadline. Does anyone know the true facts concerning the deadline and requirements? Thanks so much for the help!
I am not an attorney however, I did have a long conversation about this with Roberto Umaña who is an attorney who specializes only in residency.
There is unfortunately a serious contradiction in the income requirements for rentistas in this new law and until the byelaws are published I am told that nobody will really be able to tell you you exactly how it is to be implemented.
Roberto told me: “In trying to clarify this confusing matter, the answer that I obtained from the Legal Department of Immigration, was even more confusing. They stated that in their interpretation of the law, that article 77 was conceived for individual applicants only, so if you have the US$1,000 per month, that would suffice for a rentista.”
As soon as we know more, we’ll let you know by posting an article on the site.
Scott Oliver
WeLoveCostaRica.comThanks so much Scott, I’ll be looking forward to any new info.
Hope all is going well for you in beautiful Costa Rica? We really do wish we were there.
Regarding the Immigration August 12th law. Today’s Tico Times (16th June) had this to say.
Arias Administration Plans
To Postpone Immigration Reform
The administration ofPresident Oscar
Arias plans to send a bill to the Legislative
Assembly that would prevent the new
Immigration Law from taking effect in
August and delay it for at least a year.The
delay is designed to give the government
time to prepare for the costs ofimplement-
ing the law and examine aspects ofthe law
that have been criticized by the President,as
well as academics,religious figures and the
Ombudsman’s Office.
Mario Zamora,the new director of
Immigration,told the daily La Naci
n his
institution would have to spend ¢7 billion
($13.7 million) for the new police,infra-
structure and administrative reforms the
law demands.For example,the law would
require increasing the Immigration Police
force from 35 to 600.
Zamora added that the law,which
cracks down on illegal immigration
through measures such as increased penal-
ties for people who hire illegal immigrants,
includes eminently repressiveregulations,
and Arias administration officials would use
a delay to study reforms to counteract those
regulations.
Public Security Minister Fernando
Berrocal told the daily the government
would have to spend a fortuneto apply
the new law,and that he couldn’t under-
stand how the law could have been drafted.
The bill the Arias administration plans
to submit would alter Article 269 ofthe law;
the article states that the law must take
effect eight months after its publication in
the official government daily La Gaceta,
which took place Dec.12,2005.
Other measures the law includes are
greater freedom for police in their efforts to
find and remove illegal immigrants,deten-
tion for an undefined length oftime for
those suspected ofbeing illegal immigrants,
and changes to improve the efficiency of
Immigration (TT,Aug.26,2005).
Tico TimesJames.
Thanks for the info! Does anyone know exactly what the current law is? I have been told by at least two different sources that the current law allows a family to become residents by showing the $1000.00 per month guaranteed income for a period of five years (i.e. A $60,000.00 CD at a Costa Rica approved bank). Thanks for the help!
Very interesting, I guess everyone is waiting impatiently to see what happens. Is Mario Zamora any relation to Randall Zamora? Maybe some inside info!
Keith, if you haven’t visited these sites yet, there is information on residency you may want to look at.
James.
http://www.residencyincostarica.com/
http://www.infocostarica.com/ubb/Forum3/HTML/000655.html
http://www.costarica.com/Home/Retirement
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