A Guide to Costa Rica’s Residency by Investment Program

The Republic of Costa Rica is a Central American country known for its stable democratic order and highly educated citizens. Its progress can be measured from its consistently better performance on the Human Development Index each year. In terms of other indexes such as the Freedom of the Press Index or the World Happiness Report, Costa Rica is definitely among the most prosperous countries. To keep its economy running, it maintains free trade zones, takes advantage of its scenic location and tourist gifts, and maintains an environmentally friendly temperament.
With so much to offer, Costa Rica is an eye-catching opportunity for investors. Even the country recognizes its immense potential and aims to attract as much foreign investment as possible. Despite all the positives, the administrative machinery of Costa Rica is said to be slow and complicated, which is a major obstacle for investors. To counter this, it introduced its own Golden Visa program. What is this program about? Well, read on to find out.

  1. A brief introduction to the diet
    Golden Visa programs are an opportunity to quickly access a country through an investment. From the 1980s, they became very popular around the world. Under the Costa Rican program, a similar opportunity is offered with lenient entry requirements. The successful candidate is granted temporary residency; however, he is not required to make an initial investment of a certain sum. As long as the investor is able to show a certain level of monthly income from legal sources for 2 years. One thing to note, however, is that you can either start a business or be self-employed in Costa Rica. You do not have the possibility to work as an employee in the country.

  2. What you need to do regarding investing
    There’s a reason Costa Rica’s residency-by-investment program is relaxed. In most of these programs, a certain sum of investment in certain ways is stipulated as essential for applying. This is not the case with Costa Rica. Under its Golden Visa program, the investor is only asked to prove that he can maintain a monthly income of at least USD 2,500 from legal sources for a period of 2 years. Usually, investors are asked to make a simultaneous bank deposit of USD 60,000 in the country. The minimum monthly income requirement may increase if you add dependents to your application.

  3. Documents you will need
    A multitude of documents will need to be submitted as part of the application process. These documents include passport size photos, original police certificate, proof of consular registration, original and certified copy of birth certificate, marriage certificate (if applicable, proof of registration of fingerprints and an original, certified copy of the passport.In the event that the family members are arriving, then you will be required to provide additional documentation as required.

  4. From temporary residence to citizenship
    Once you have met the basic program requirements, you will receive a temporary resident visa for 2 years. The said visa can be renewed provided that you continue to meet the basic requirements and maintain a record showing that your income was received in the country. In addition, you must prove that you have stayed in the country for a period of 4 months; the period of stay need not be continuous. Only after residing for 3 years or more will you be eligible for permanent residency. Once permanent residence is granted, you can renew it every 5 years. If you stay 7 years or more in Costa Rica, you can then apply for citizenship by naturalization.

  5. Plan benefits
    I have already mentioned that Costa Rica is a well-developed and stable country with a robust economy. If you enroll in this program, you will be able to access a low-tax jurisdiction, enjoy political stability, obtain residency without having to spend too much, access top-notch healthcare facilities, benefit from a visa-free or visa-on-arrival access. in 134 countries, and become a citizen without too much hassle. Costa Rica recognizes dual citizenship so you can hold multiple passports and continue to explore investment opportunities around the world.

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