Rentista bank account outside of Costa Rica?

[union]

Can one have the $60000 in a bank account or other financial institution outside of Costa Rica, or does it *have* to be a Costa Rican bank?

[maravilla]

bingo! has to be deposited in costa rica because that is where you are applying for residency.

[costaricafinca]

Actually, maravilla, it doesn’t. It can be deposited in any bank that is on the ‘approved’ list of Costa Rica. Sorry, but I can’t remember what it is called, but not many banks/financial institutions will actually be on it!.

[ibarnon]

Yes, it does not need to be deposited in a local bank. However, there is somewhat of a catch. To apply for residency, you need a bank letter that states you have this amount. However, the bank letter required is worded in such a way that it is very, very difficult to get any US bank to sign such a thing. I found it almost impossible to get a bank to write me the letter, I actually had to go to a different state and open an account where they would be willing to do such a thing.

[terrycook]

hi…terry from Texas…I am sorry I do not remember the specifics..but if you go back to the history of this site you will find a record of a bank or several banks in the u.s. that will indeed issue this letter….not to say is it easy but it can be done
terry cook

[union]

Anyone know of a bank in Europe that will work? Austria? Switzerland?

[maravilla]

i have three friends who did the rentista dance in the last two years and not a one of them could do the deposit in the States thingy, so there must be very few banks which qualify for this provision to meet CR regs. they all wound up depositing $$$ into Scotia Bank in CR. but hey, if it can be done and that fits your agenda, go for it.

[matapalo]

My wife and I have been Rentistas for two years. We had to deposit the money into a CR account that is similar to a CD. This account is in dollars and gains minimal interest. Once a month, $1000 (plus interest) is transfered automatically into a colones account. We’ve also recently became first time parents and are in the process of becoming permanent residents. We are now eligible to receive the remaining balance in our account upon receiving permanent residency status.

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