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I’m surprised that this article has not been given a huge response here yet.
What does anybody know/think about the possibility that those of us relying upon rentista status to possibly need to come up with proof of $5000 per month, up from the current $1000?first of all, the new rentista requirements are not $1000 — that was changed in 2006 to $2000 or $60,000 per adult for a total of $120,000 deposited in CR, which was why all my friends rushed to get their rentista status before that august 2006 bill went through. a CR insider told me that this new law is basically a done deal and that the assembly has been ordered by Arias to push it through. we’ve all written letters to each assembly member but a lot of good it is going to do. everyone i know is extremely upset about this — i hardly know anyone who is getting $2000 a month in pensions and i don’t know anyone at all that could afford to plunk down $300,000 to generate the $5000 a month requirement under rentista. and if you had that kind of cake, why the hell would you want to live in costa rica — i’d be in the south of france in a heartbeat if i had that kind of money. this spells disaster for a lot of folks who are going to have to sell their homes and move where?? nobody i know wants to go back to the States, and nobody i know wants to move to Nicaragua where even worse things can happen to your finances. i guess this doesn’t much affect me because i can get permanent residency status under the artist category, and in May i am eligible for PR no matter what, but this is extremely stressful thinking about whether i even want to live in CR now. And who gave Arias the orders to keep poor pensionados out of CR?
Maravilla, how can you get residency as an artist? What are the requirements? Where can I read more about that? I’m an artist as well…
I’m sorry if this has been covered before, however, I’d like to know if someone out there can tell me if we might qualify ofr investor status.
I have written to the agency mentioned in an earlier post about this, but have not heard back yet.
We bought land a couple of years ago, and are in the middle of designing the building project.
We are planning to build a home as well as one or two “guest villas” where paying guests will stay, as well as receive spa treatments.
We now own and run a small spa here in Key West.
I am hoping that we have an option at looking at Investor as opposed to Rentista status if it will end up being to our advantage.
Any thoughts?Maybe you can qualify for the tourism investment category, I think you need to make a $50K investment, but would also like to know what other requirements are necessary.
You might need to hire a certain number of Costa Ricans.I also wonder if there is a problem with including the purchase of the land if you live on part of it in your personal residence?
I don’t think you can sponsor a spouse though, and that makes it complicated if both spouses have to have their own separate business.
I wonder if you need a business plan and feasibility study etc… or if you will need to prove income from the business in order to keep the residency. Who knows how much tourism will continue in the next few years…?
Sorry, I have more questions about it than answers.
I think your minimum investment as an Inversionista is $250,000, maybe more if they changed those rules, too. But it’s worth checking into. I would bet that Javier has some info on this ResidencyInCostaRica.com website.
I just read about this the other day — someone posted the categories for people who would be automatically eligible for permanent residency status on another board and one of those categories was “artist.” I do massive public art projects which would certainly qualify me as an artist, so I’m trying to find out more about that, although Javier assures me that the new laws will not apply to me because I’ve been a pensionada for 3 years this April and the new changes will only affect those applying for residency NOW or in the future. I don’t know what kind of art qualifies but I pretty much cover the gamut having published a book, produced records and videos, and now the public art projects that I’ve been doing. I guess if you are just dabbling at being an artist you wouldn’t qualify, but if you have some public recognition or make your living as an artist you would. I will keep you posted because this category is my failsafe so I need to know how it all works.
I tried mulling this over in my mind, and there is no sane reason for this. At this point I don’t give a crap whether or not they keep me out by monetary requirements, but not to grandfather in residents who have already met the existing requirement is absurd.
The other frightening thing would be being able to meet the new requirements, then get kicked out a couple of years later when you’ve put down roots and a sizeable chunk of change on a house, and find absolutely no buyers because they’ve thinned the buying herd to include only the uber rich, who like Maravilla says, would rather live in the south of France anyway.
Where are all the RE agents here. How come they are not screaming bloody murder! They built CR’s RE market up to where it is, and have brought down thousands of moderately wealthy individuals that infused tons of cash into the CR economy. I don’t get it.
Even if this gets shot down, which I’m not holding my breath on, people are going to be gun-shy about investing in a country that can legislate you out in a heartbeat. What the hell are they thinking is going to happen?
If the burden on the healthcare system is what’s worrying them, increase that premium to compensate for older foreigners coming down. Or just do what the US does when illegals, who get in for free, use the medical system… Nothing!
This is so strange, it looks like Florida, especially after the full impact of this RE meltdown is finished unwinding, and we all get socialized health-care, might not be so bad a place to retire.
We tried to get residency a few years ago, under Investor status, and unless you are investing millions it is hard to get it. You may have to complete the project, then apply. You must show how many locals you will employ as, you know that you are not legally permitted to ‘perform the physical tasks’. There are many people here who are trained in spa treatments, so you wouldn’t be able to say that there is no competent help, available. You need to provide a business plan and feasibility study etc.. But, remember this is after you have completed the project. I don’t think your personal residence, applies.
You spouse and family would have to apply personally, by depositing the $60,000 at the going rate….
Earlier, some folk have purchased B&B’s that allowed them to ‘work’ in their projects, but this is getting much harder to obtain. And how this would fit into the possible new requirements, I have no idea.Do you know what proof I’d have to supply to be eligible as artist? I’ve had paintings sold thru’ a gallery & won award in juried competition. I plan to have work in a gallery in CR. I’m coming to CR next week (11/19/08) for several weeks to look at houses but, this new immigration news is really making be nervous — I can’t qualify for $2,000. a month. I’m really afraid to buy now.
I don’t know how either of us would prove our artistic status. I can’t very well haul in the side of a building that has a mural on it. jejeje I need to research those requirements, and right now I don’t know who to ask even — maybe Javier would know and I did pose that question to him yesterday but he didn’t address it specifically in his response to me because he claims I won’t have a problem with my residency when I come up for renewal. I tried to find the post on that other board that listed the categories that are eligible for PR at the outset. I’ll keep looking, but I would be the info is on the immigration site. If you are going to be in CR soon, you might try going to the local immigration office and inquiring; it may be your only solution, and a damn good one too!!
Here’s the original post that listed all the categories. If you find out any specifics, please let me know.
Take a look at the Immigration site at:
http://www.migracion.go.cr/permanencia_legal/index.html
Categories for Permanent Residencies include:
Residence for having linkage with a Costa Rican or Resident (should be important
to some current Residents)
Artists, athletes from public performances
Students and Special Categories Academics Groups III and IV
Special category students academics and non Dependent Visa
Required processes for Judicial foreigners and Renewal
Refuge for Family Reunification
Registration educational institutions
Registration institutions interns, Workers of occupancy specified legal person
Workers occupying specifies workers, etc. etc.,and my personal favorite, Residency for Foreigners serving sentences for
criminal offenses.Categories for Temporary Residencies include:
Temporary Residence For Scientific, Professional, Technical Specialist
Temporary Residence for Correspondents
Temporary Residence for Athletes
Temporary Residence for Executives
Temporary Residence for Investors
Temporary Residence for Pensioners
Temporary Residence for Religiosos
Temporary Residence for Rentistas
Executives dependent companies registered
Executives companies registered“…the new changes will only affect those applying for residency NOW or in the future.” How is this possible considering the law has not been changed yet? So, retroactivity will be included in the new law if it gets passed? We were planning on applying for rentista status in December/January so I guess that eliminates the chance of slipping in under the wire before these increases come in.
BTW, according to the ARCR and Residency in Costa Rica websites, it is still $1000 per month for a rentista.
what is wrong with simply leaving the country every three months for several days? Why would I have to sell my property just because I might not get residency status? I am not moving to CR for affordable health care anyway and I would be criticl of anyone who used that as the main reason.
I am not poor and from what I have been reading, many expats simply pay cash for the inexpensive medical care they require so they are not a burden on the health care system. Besides eligability for national healthcare ( a dubious benefit anyway) and avoiding the obligatory three day week end vacationevery three months, what are the benefits of residency?
Also, I would choose to live in Costa Rica over France any day regardless of how wealthy I was. The main reasons I come to CR are the weather, the beautiful countryside and the people. Costa Rica is NOT a choice I make based it being a cheaper brand.Edited on Nov 15, 2008 08:11
The problem with leaving every 90 days is that it gets to be a hassle. Just ask anyone who has done it for extended periods of time while they are waiting to get their residency. you no sooner settle into your routine and you have to leave again. And if there are two of you well, it gets to be a little expensive, especially if you are flying here and there to all the favorite places that gringos usually go. I don’t know how many times you want to take Tico Bus to Nicaragua or Panama. But if that’s what you have to do, then it’s not the worst option, but from what I understand this perpetual tourist status is frowned upon by the CR govt. And don’t even think about getting one of those phoney stamps that say you left the country. If you get caught doing that, you’re deported, and that is a bigger hassle than leaving the country every 90 days. You’ll be leaving the country for 10 tens!!
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