Looking to Live in Costa Rica? Residency

Costa Rica is indisputably one of the most beautiful places in the world.The long-established democracy, the safety together with the famous Costa Rican attitude towards nature made Costa Rica to be known as one of Latin America’s most peaceful nations.

In addition, Costa Rica has been rated as the happiest place on earth by the happy planet index (hpI) for the second time in a row. There’s no wonder that Costa Rican is a target for so many, Some of them, wants to make it their home.

In order for you to stay in the country for more than 90 days, you will have to establish legal residency, or to submit an application for an extension to the Office of Temporary Permits in the Costa Rican Department of Immigration. The fine for overstaying is $100 a month for every month illegal in the country. Tourist visas are usually not extended except under special circumstances, and extension requests are evaluated on a case-by-case basis. Many people simply leave the every 3 months for 24 hours and do that for years. If you want to do that, remember that sometimes they ask for a proof that you are leaving the country within 90 days like a copy of your airline ticket or bus ticket.

Costa Rica immigration laws present a number of opportunities for residency:

Through familial relations:

1. To be qualified, you need to have First degree relative status with a Costa Rican Citizen, or may apply after three years in another status.

2. Must be in Costa Rica for minimum of once a year.

3. Able to work.

4. Able to own a company and receive income.

Business capital investments:

1. Investments of at least $200,000 or more invested in Costa Rica.

2. Must be in the country for min’ of 4 months a year.

3. Allowed to have income from the invested project.

4. Able to own a company and receive dividends.

Guaranteed individual income:

1. Has a proven income no less than 2,500$ US per month for minimum of 2 years or 60,000$ deposit in a costa rican bank. One amount covers the family.

2. Must be in the country for min’ of 4 months a year.

3. Cannot work as an employee.

4. Able to own a company and receive dividends.

Retirement:

1. Has a proven income no less than $1,000 US per month.

2. Must be in the country for minimum of 4 months a year.

3. Able to own a company and receive dividends.

Representative of a business enterprise:

1. In order to be qualified, the applicant must be a director of a company meeting certain requirements, such as having a minimum number of local workers as established by the labor law, with financial statements certified by a Public Accountant.

2. Must be in the country for minimum of 6 months a year.

3. Able to own a company and receive dividends.

4. Able to earn an income from the company.

Temporary employment:

1. Temporary work permits are usually granted to foreign workers that are professionals or highly trained technical professionals that have been hired for a short period by local Costa Rican companies.

2. temporary work permit need to be renewed after the initial six months.

3. automatically granted temporary resident status.

A legal resident who lived for 7 years in the country (accumulated) and can prove it, may apply to citizenship. From the day the application form sent, the process takes about a year or two. Dual citizenship is permitted for some countries including the USA and Canada.

For sure you must have encountered a lot of offerings to assist you in the process.you should find out their business experience, if they are attorneys themselves or hire attorneys, etc… Residency is a serious business and should be taken as such. sometimes the more you think you saved, the higher you pay.

Read more at: http://www.zorrolist.com/Zorrolists_article/legal-residency-costa-rica

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