- COSTA RICA
- Residency by Investment
Costa Rica Residency by Investment
Costa Rica is a country in Central America and has coastlines on the Pacific Ocean and Caribbean Sea. The country has a 51,100 Km2 area and has a population of 4.8 Million People. Costa Rica is one of the most developed countries in Latin America. The country has a fantastic eco-tourism, one of the best health programs (life expectancy over 77), low crime rate and democracy.
The prices and standard living makes it one of the most attractive places in the world, both for people who are willing to run business and retire. Throughout many years, the government tries to create modern infrastructure and favorable tax regime for the investors in order them to put money and help increase economy in the country. Costa Rica has several residency programs: Retiree (Pensionado), Legal Resident (Rentista), Business/Investor (Inversionista), Marriage/Relation (Vinculo). For those who are willing to do business in Costa Rica, the Business/Investor program is the most interesting one. According to this program:
The Investor must make at least 200,000 USD direct Investment in the country. There is no mandatory business sector, where the investment has to go (Hotel, Bar, restaurant, tourism etc). It can be real estate as well. The investment has to be done by the time investor applies the program.
- Investment in forestry plantation project is also possible. The minimum investment in this case is 100,000 USD. It has to be mentioned that, this option is very rarely used.
- The investor is not required to have a bank deposit.
- The investor can also apply for the residency if he/she invests in non-commercial real estate. It can also be a land for future ecological preservation.
- The investor gets temporary residency at first. He/she can apply for the permanent residency after 3 years.
- Investor is obliged to stay in the country for one day per year, in order to keep his/her residency status.
- Once the investor obtains the investment visa, spouse and children under 25 years old can directly apply the program
- After getting residency, the investor can get the Costa Rican driving License.
- As e resident of Costa Rica, the investor can enjoy a lot of discounts concerning the touristic destinations.
- The resident of Costa Rica can easily open a bank account. If applicant does not have a resident in the country, the banks sometimes refuse to open it.
The applications concerning the investment visa in Costa Rica is governed by the Costa Rican Department of Immigration. This authority is under the control of Ministry of Public Security and Police. All the applications must be addressed to the Costa Rican Department of Immigration and forwarded from the current country of residence through the relevant Costa Rican Consular office. Taxation system is one of the key issues for the investor in order him/her to invest in the country. In Costa Rica, the investor does not pay any taxes on the income earned outside Costa Rica.
Located in the continent of Central America, Costa Rica shares land borders with 2 countries: Nicaragua, Panama.
Costa Rican colon(CRC)
Unitary presidential constitutional republic
Reasons to choose Costa Rica?
- Warm-hearted people
- Bio diversity
- Immediate temporary residence permit and opportunity to obtain permanent residence permit after 3 years
- Children, spouse and family members under 25 years old are included
- Favorable tax regime, as the only the income on Costa Rica territory is subject to taxation
- Investor can invest in any type of business
- Minimum residency requirement (1 day per year)
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Entry denied: Libya