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What you are referring to, is meeting the financial obligation for the Rentista Residency status application. In this category, $60,000.00 U.S. each ($120,000.00 U.S. total), for both you and your wife’s Rentista applications, would need to be deposited in a recognized Bank, and pledged for five years. After being granted Rentista Residency status, this pledged amount, can be retired at the rate of $1,000.00 U.S. per month per Applicant. One of the Rentista requirements, is that each Applicant must show, based on banking records, that at least $12,000.00 U.S. has been converted into the local Costa Rica currency, Colones, in each year of the Rentista status. After three years in the Rentista Residency category, it would be possible to apply for Permanent Residency status, which does not have a financial requirement. After attaining Permanent Residency, the residual funds pledged for the Rentista status, could be returned to you, without penalty.
As to the availability of private medical insurance, the Costa Rica National Insurance Institute (INS), offers a number of different medical insurance plans to Residents. Other private international medical plans are also available, which are offered through various ex-pat organizations.Note from Scott: ‘WatchDog’ is the username for my friend and attorney Richard (Rick) Philps who is a Canadian citizen, naturalized as a citizen of Costa Rica. Rick practiced law in Canada as a member of the Law Society of British Columbia, for fourteen years, prior to moving to Costa Rica in 1998. Mr. Philps the earned his Bachelor of Laws and Licensing Degrees (Civil Law), and a Post-Graduate Degree in Notary and Registry Law, from the Escuela Libre de Derecho University, in San Jose, is a member of the Costa Rica College of Lawyers, and has practiced law in Costa Rica for five years. Mr. Philps practices law in the areas of real estate and development, corporate, commercial, contract, and banking.
To contact attorney Rick Philps and his associate attorney Roger Petersen, please use the Contact Form at the bottom of: [ https://www.welovecostarica.com/members/417.cfm ]
Income/pensions generated and earned from outside of Costa Rica is NOT taxable inside Costa Rica…
I’m afraid I cannot help you with the other questions as I have deliberately shut-off my little brain from all ‘immigration’ related matters (there’s only a limited amount of space left on my internal hard drive:-)) but hopefully one of our other VIP Members can help…
My lady and I have been evaluating private health care insurance coverage for some time and I can confirm that so far, everything is as clear as mud. We’ll be writing about this at some stage …
Scott Oliver – Founder
WeLoveCostaRica.comWatchdog, what are the limitations on “Rentistas” working in Costa Rica? It’s my understanding that “Pensionados” may not work at all.
David, Residents with either Rentista or Pensionado status, may not work for wages, or otherwise be employed, in Costa Rica, but are able to “manage” their own incorporated company, S.A. or S.R.L.
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