The latest on Residency Requirements!

As many people are following, the Costa Rican Assembly is still deciding on residency requirements for foreigners.  Currently, most pensionados (i.e., retirees) have to show $600 a month in income (such as social security) or $1000 per month for rentistas (those not retired or not having social security or a pension).  Elected officials on the advice of the Immigration Department, had been considering raising the requirements to a whopping "$2000/$5000/month respectively, with no grandfathering of requirements!

However, it looks as though a compromise may be reach setting the income needed at $1000 a month for pensionados and $2500 for rentistas.  There is no word if these new rates would be for individuals or families however.  There has also been no indication yet as to whether current residents would be grandfathered in under the current rules.  It is anticipated that some type of vote may be taken by April 30th though it is unclear if this will be a final vote on the matter or if after the vote, additional discussion and more voting will occur.  At least we're making progress.  Stay tuned!

Pura Vida!

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Comments

[Chris]

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[Costa Rica real estate]

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