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[quote=”maravilla”]after you’ve lived here for SEVEN years as a LEGAL resident. to become a legal resident takes about two years from start to finish, so in about ten years, you could entertain the thought of becoming a national provided you are fluent in spanish, know the history of costa rica, and can sing the national anthem. in the end it’s just easier to boss your employees around and not do any work.[/quote]
The actual time to wait to apply for Naturalization based on Residency is about eleven years. Three years in a Temporary Residency Category followed by seven years in the Permanent Residency Category, and a year between the two to change the Categories of Residency. The Naturalization process takes about a year and a half to complete following the Application in the Naturalization Section of the Civil Registry.
If you are married to a Costa Rican for two years and show that you are primarily resident in Costa Rica for those two years of marriage, you qualify to apply to be Naturalized without ever having had Residency, subject to a successful Interpol Search and other basic documentation being supplied.
In answer to your original question David, about taxation of interest earned on Costa Rica bank CD’s, the answer is yes, you would be liable to pay income tax on the interest earned to the Costa Rica Tax Department.
When it comes to Criminal Law, Costa Rica is a Country of laws and regulations just like any other democratically based country such as the U.S., or Canada. The thing that makes Costa Rica different, is that the policy of enforcement of these laws and regulations, is, for the most part, more lax than other similar democratically based jurisdictions and consequently there is less hassle. This is changing over time, with more strict enforcement measures being implemented as time goes along.
The question that needs to be asked and answered is, “Did the bulldozed structures exist on property with validly granted Concessions in favour of the property owner/occupier?” The land in many coastal areas still is not held in Concession. If the property wasn’t titled to the 50 meter mark above the high tide line prior to 1977, when the Maritime Zone Law came into effect and no Concession subsequently granted, then the next 150 meters inland from the 50 meter mark merely has contractual possession rights for the occupier. In those circumstances, no valid building permit can be obtained from the Municipality for any structure and any structure could be deemed illegal and subject to bulldozing by the Municipality, or other Government Agency.
The problem with the “Residency en tramite” policy for not having to leave the Country to renew the Tourist Visa every 90 days while waiting for Residency to be granted, is that it is an unwritten policy of enforcement and not the law, nor an Immigration Directive. It has been followed for many years by most police and Immigration Officials. I’m not aware of any change to this unwritten policy of enforcement, but at the same time, it is at the discretion of the police, or Immigration Officials to apply it. Likewise, the Airlines are not able to rely on a Residency en tramite document to allow for a one way ticket to Costa Rica, only Residency which has been granted.
Passenger load factors and competition between airlines govern the price. Lower passenger loads and less competition between airlines flying into Liberia are probably the reasons for the difference in pricing with SJO. I know of another similar circumstance of flying to LAX versus Orange County Airports in CA. It is hundreds of dollars more to fly to Orange County Airport rather than LAX from CR and the Airports are less than 40 miles apart.
I would suggest not getting too interested in one limited area of Costa Rica, such as Pejivaye. Costa Rica is a Country of contrasts over very short distances and should be experienced as a whole, prior to deciding where to live. Also, services, such as hospitals and shopping, are in very short supply outside of the Metropolitan area of San Jose and indeed, the Central Valley as a whole. Depending on your requirements, this could be a significant factor in choosing where you would live. Costa Rica is a “Developing Country”, not a First World “Developed Country”, which I assume you are used to living in.
I agree with David Murray’s quote below.
In addition, the financial requirements for each of the Temporary Residency Categories of Rentista and Pensionado, apply equally to a single Applicant, or to a husband and wife, including minor children (age 18, or to age 25 if enrolled in an educational institution), and handicapped children to any age.
PS. Note from Scott. Watchdog is Costa Rican attorney – Rick Philps who has written a few articles for this site.
I am in my thirteenth year of living in Costa Rica (western San Jose area) and like Scott, I haven’t been the victim of crime, not even having had my car radio stolen. Prudent behaviour (street smarts) is the key. Always be aware of your surroundings when walking in the San Jose downtown area, don’t leave items in plain view in your car, etc. Outside of San Jose, the Caribbean, or Limon side of the Country tends to be more prone to crime, largely related to illegal drugs. Other than that, exercising prudent behaviour while in other parts of the Country should keep you safe.
I don’t believe that you will find any US Notaries practising in Costa Rica. The State that issues the Notary Licence. I believe in all cases, has a residency requirement in order to practise. The US Embassy is your best alternative in that regard.
The best information that I have is that there are a number of lawsuits that have been started against the project by various disgruntled Purchasers, some of which have been registered against the title of the properties involved in the project.
I’m from Victoria, B.C; moved here 12 years ago and have never been the victim of a criminal act. As has been said previously in this thread, prudent behavior is the key. I would support living in a gated community in CR as being part of that prudent behaviour.
Rent a 4×4 vehicle, get a good road map, and you’ll be set. If you don’t come in the high season, Xmas to April, you won’t need reservations for accomodation. You’ll be able to see a good part of the Country in two weeks; it’s small, about the size of the State of West Virginia.
[quote=”johnf”]2 questions
I cut the following from the Pensco article
While it is legal to purchase real estate in any country or even on the moon,
PENSCO will only allow investment in countries that are generally democratic
and that use English in their documents or which will translate their documents to
English. Examples include the U.S. Virgin Islands, England, India, New Zealand,
Australia, South Africa, Ireland, Mexico, and Canada, among many others.I assume that since you used their article that they have acted as trustee for purchases in Costa Rica?
Also are there lenders willing to loan money on a non recourse note on Costa Rican properties
Thanks[/quote]
As a Costa Rica Attorney, I can confirm the PENSCO, Entrust, and Sovereign IRA Fund Managers all permit use of IRA funds for the purchase of real estate in Costa Rica. The general conditions for the use of the IRA funds, are that the real estate purchase be for investment purposes and not for the personal use of the principal IRA Account holder, that only IRA funds be used for the purchase and not a combination of IRA and personal funds, that the purchase be made through a Costa Rica corporation of which the IRA Fund Manager becomes the Custodian Shareholder for the purchaser’s IRA Account, and that the party in control of the investment owning Costa Rica corporation be a party other than the principal IRA Account holder, nor anybody related by blood,or marriage to the principal IRA Account holder (in other words, a trusted friend, or business associate would have to be appointed as the President of the registered corporate owner of the investment property).
I believe that Dole Corporation offers to take freight and has limited passenger cabin space for the return trips of its fleet of “banana boats” from Florida to Costa Rica. Obviously, as their primary cargo is bananas, the boats would essentially be returning empty from Florida to Costa Rica, but for offering this additional service.
