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Under the new laws, in order to qualify for Rentista residency status, our family of five will be required to show $3500 per month in guaranteed US income or put $210,000 in a bank account in Costa Rica and draw out and convert $3500 into colones each month. A year ago when we were first planning our escape the requirement was $1000 per month or $60K in a Costa Rican Bank.
This huge change has caused me to look at the Inversionista Residency. For us, it would probably be worth it to invest $50K into a PROCOMER qualifying project if it would allow us to apply for residency for our family. I read on a couple of websites that this residency doesn’t include families but I have also read and heard otherwise.
Do any of you have experience with making investments in qualifying projects? Do any of you know where a list of qualifying projects can be found (Procomer.com site is down)? If you have an Inverionista Residency status and can give me some feedback on your experience, it would be appreciated.
Thanks,
Jerry
While you’re here for five or six weeks this summer, Jerry, you should take the time to consult with a knowledgeable Costa Rican attorney who specializes in residency matters and who has good ties with the larger community of attorneys here. My personal recommendation would be Lic. Romulo Pacheco whose office is in the Casa Canada building in San Jose where the Association of Residents of Costa Rica is located. Sr. Pacheco has taken good care of a number of people we’ve referred to him as well as Marcia and me.
Jerry – It is my understanding that the Inversionista residency category does not extend residency to dependents, only to the investor. I also read that the immigration law is under review again & that the new proposed amount is $2000 per month & will cover all dependents. Of course, until it passes you’d still be subject to the law as it is right now ($60,000 per adult & $30,000 per child, I believe).
We applied as rentistas before the law changed because the new amounts were out of reach for our family! We barely made it – our application was accepted about 2 weeks before the new law went into effect.
Jessica
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