If all this sounds a little too much, keep in mind that almost everyone hires an immigration lawyer to take care of the details, and many use one of the specialized services in speeding up the stay for a fee. 7. In the case of aliens who are unable to present the conditions due to expulsion from the country of which they were citizens, they must present the passport identifying them as citizens of that country and provide an affidavit. also a certificate from the Ministry of Foreign Affairs indicating that the political problem has occurred. You must apply for this type of residency at the Costa Rican Immigration Department. There are several options if you are considering applying for residency in Costa Rica. Pensionados, rentistas and inversionistas can claim their spouses and children under the age of 18 as dependants. A child between the ages of 18 and 25 may be dependent if enrolled in a university. Arcr offers a helping hand to those who want to get around in the right way. Their specialty is to help people maintain their legal residency. Below you will find a brief description of the main categories of residences on the ARCR website.
Step 3: Once you have checked the requirements and how the visa is completed and up to date, you can go to the services platform of the central offices of the Immigration Department or regional offices from Monday to Friday from 8:00 am to 12:00 pm to submit your application. Financial requirements must be proven and Rentista Residency must be renewed every year New: At the end of 2021, a new type of “digital nomad” visa has been approved, eliminating the need for “eternal tourism” for many. Buying a property in Costa Rica is a fairly simple process. People who do not have a place of residence can buy real estate in their own name or in the name of their company. Many buyers choose to buy a property by starting a business, as this brings tax and estate benefits. 2. Letter setting out the reasons for the application for temporary residence. The full name of the lawyer, nationality, age, profession, current address and place or means of notification must be provided. However, the vast majority of immigrants choose one of three possible ways to “buy” temporary residence – a Costa Rica residence permit based on the financial resources you want to bring to Costa Rica. The general idea is that you show that you will be a valuable member of society by guaranteeing a contribution to the economy. Licensed banks in Costa Rica meet all government requirements for this residency status for a deposit of 60,000 $US.
Deposits in state-owned banks are guaranteed indefinitely by the state and most bank interest rates in Costa Rica are exempt from tax. You will need proof of health insurance to cover Covid-19 for the duration of your stay. To do this, you need an electronic health passport QR code. Up-to-date information on immigration regulations related to Covid-19 can be found here. Please note that there are additional requirements to be eligible for this residency program. Residency requirements are subject to change. : This allows the purchase of a home as an acceptable investment for the purposes of the residency application, provided that the amount invested is at least $150,000. This type of investment can include not only the purchase price of a house in Costa Rica for personal use, but also the purchase of land that is considered for future development or conservation, including ecological, ecological or watershed conservation purposes.
There are other specific requirements for this program. Please note that the requirements for temporary stays change frequently. The easiest and fastest way to stay in Costa Rica is to have a child or marry a Costa Rican, which allows you to apply for the “Residencia Permanente Por Vinculo” – stay via connection/link. There are also special categories for famous athletes, outstanding scientists and religious exceptions. Costa Rica offers many types of temporary residence permits. The most common are listed below. If you are a Spanish citizen, you can immediately apply for permanent residence. After three years of retirement, fixed interest or investment residency, you can apply for permanent residence in Costa Rica. This change in status allows you to earn money in the country. If you are a permanent resident, you must visit Costa Rica at least once a year.
A person is a tax resident in Costa Rica if they spend more than 6 months a year in the country. Costa Rica collects income tax on a territorial basis. This means that tax residents and non-residents are only taxable on their Costa Rican income. Local income is taxed at progressive rates of up to 25%. The highest marginal tax rate on labour income is 15%. Dividends are subject to a withholding tax of 5%. Interest income is taxed at 15%, with the exception of that of the local stock exchange, which is taxed at a rate of 8%. Net rental income is subject to tax at regular income tax rates.
Capital gains are not taxable in Costa Rica as long as capital gains are not the regular source of income of a natural or legal person. Property tax is levied at 0.25% on the value of the property. A tax on luxury homes may also apply. The transfer of movable and immovable property is subject to real estate transfer taxes of 2.5% and 1.5% respectively. There are no taxes on net assets and inheritances. Sales tax in Costa Rica is charged at 13%. As far as corporate tax is concerned, resident companies are subject to a 30% corporate tax on income earned in the country. Lower rates may apply to low-income businesses. Income from foreign sources is not taxable.
To learn more about corporate taxation, legal frameworks and tax treaties, you can consult incorporations.io/costa-rica.This should not be construed as tax advice. We have access to a global network of qualified lawyers and accountants who can give you the right advice for your specific situation. Contact us for more information. This program applies to people who are married or related to a Costa Rican citizen. The non-Costa Rican applicant must prove that he or she has a first-degree relationship, either by marriage or by birth, with a Costa Rican citizen, and the Costa Rican citizen must be willing to sponsor the applicant`s residence.
