The Investor
Program. Resident
Investor Status.
Individuals who invest at least
US$50,000 in project which has been approved by the
Center For the Promotion of Exports (PROCOMER) as a
priority investment area may apply for resident investor
status. If the investment is in a non priority
investment area then the investment required is
US$200,000.
This
category really involves two different steps. The first
is to qualify the investment by PROCOMER to determine if
it falls within the priority area. Once this initial
process has been completed and the certification issued
then you can begin the application process which is done
directly before the Department of
Immigration.
The Rentista and
Pensionado Program.
The Rentista
and Pensionado program is available to those individuals
who can prove a permanent and stable income from
investments, pension or retirement benefits.
1.
Pensionado. The Pensionado (Retiree) applicant must
demonstrate a permanent fixed income from a pension or
similiar retirement income of at least US$600 per month.
The typical applicant in this category has a government,
private secto pension or social security retirement
benefits.
2.
Rentista. The Rentista applicant must demonstrate a
permanent fixed income of at least US$1,000 per month. Generally,
those who seek the Rentista category do not
have a pension source and instead have investment income.
To apply for this category it is neccessary to
provide proof of the investment and it will generate
the US$1,000 per month required under this program. As such
the applicant must provide a letter from
the bank or financial institution where the investment funds
are deposited certifying the existence of that income. It is not
required that the funds be held in Costa Rica.
The letter can be issued by international banks as well as
Costa Rican banks. The ideal letter issued by the
financial institution should state the following: (a)
that the recipient will receive at least US$1,000 per
month in Costa Rica; (b) that the investment generates
US$1,000 per month in a stable, permanent and
irrevocable manner for at least five years; (c) that the
financial institution issuing the letter will notify the
Costa Rican Tourism Insitute (I.C.T.) if the condition
changes.
In both
cases, Pensionado and Rentista the beneficiares must
comply with the following:
* Prove on
an annual basis that the required funds were deposited
in Costa Rica and exchanged into local currency.
* Must
reside a minimum of 4 months in the country.
The
Rentista and Pensionado Application Process:
The
application for Rentista and Pensionado status is filed
directly with the Pensionado/Rentista Department at the
Costa Rican Tourism Institute (I.C.T.) Before the
application can be prepared the applicant must compile
all the supporting documentation that is required as
follows:
1. Interpol
Background Check: This step is done in Costa Rica. The
applicant first fills out an application form which is
addressed to the Department of Public Security and
signed by I.C.T.
2. Birth
Certificate: You must provide a certified copy of your
birth certificate and that of your dependents. The
certified copy must be sent to the Costa Rican consulate
for your jurisdication for authentication. The consulate
charges US$40 for each document authenticated. Be
advised that I.C.T. will not accept any supporting
documentation which has not been authenticated by a
Costa Rican Consul.
3. Marriage
Certificate: Certified copy of a marriage certificate if
applicable. Also must be authenticated by a Costa Rican
Consulate.
4. Proof of
Income: If your source is a government pension then
obtain a letter from your government certifying the
income. If the income is from a Bank or Financial
Institution then it must issue the letter. All documents
should be authenticated by the Costa Rican Consulate.
5. Police
Certificate of Good Conduct: This certification is
obtained from the police department where you last
resided. This certification also needs to be
authenticated by a Costa Rican Consulate. Note that this
certificates are only accepted in Costa Rica for 6
months from the date they are issued. If this document
expires while you are pulling together the rest of the
documentation then you will have to obtain another one.
6.
Photographs: The application requires photographs and we
recommend that you take at least 20 photographs (10
facing the front and 10 facing the side). You will
require photographs for the background search, the
I.C.T. application and for the Department of Immigration
so you might as well get them all at once and keep them
in the file as needed.
7.
Translation of Documents: Once you have compiled all
your documentation, all documents which are in English
must be translated into Spanish. This procedure can
generally be handled by the Attorney that you have
retained to process your application.
8. Sworn
Statement: The Applicant and Dependent must appear
before a Costa Rican Notary Public and issue a sworn
statement stating that they agree to abide by the
Pensionado/Rentista law. This statement can be prepared
by your legal representative in Costa Rica. Once you
have all the documentation set forth above you are ready
to submit your application to I.C.T. Generally I.C.T.
will only receive applications that are accompanied with
ALL the supporting documentation. Keep in mind that all
the original documents that you submit become the
exclusive property of I.C.T. and will NOT be returned to
you. Once received by I.C.T. the application goest to
the Legal Department within I.C.T. who will review all
the documentation for compliance. If all is in order the
Legal Department will forward the application to the
approval committee for approval. If their are defects in
the application the Legal Department will notify your
legal representative of the defect and request that it
be corrected before it will submit the application for
approval. If approved the I.C.T. will issue a formal
resolution indicating the date on which the application
was approved. The procedures that follow approval are
related to obtaining the actual picture residency card
and are done directly before the Department of
Immigration. It requires a prior deposit of US$ 100 for
each applicant and dependent to pay for your residency
identification card.
Click here to
check what services are included in our
fees.
If
you are intersted in any particular country
or procedure - contact us for relevant
application forms and
requirements.
more
