If you are looking to relocate to our country, but you are not thinking of making an investment just yet, the Rentista Category might be your best option.
Great wheather, cultural diversity, great investment opportunities, and amazing natural resources, are some of the things that you can find in Costa Rica. If you are dreaming of having a relaxed and peaceful lifestyle, we suggest you visit our country and get to know our “Pura Vida” way of living. Moving your life to a new place and be challenging and stressful, however, we want to share with you a guide to become a resident in simple words.
In this article, we will be exploring the “Rentista or Fixed-Income” residency and get to know the requirements to apply for this category.
According to the ruling 37112 of the General Immigration Law, a Rentista is a person that receives a monthly benefit or income due to economic activities performed abroad. The income, besides being a monthly benefit, cannot be less than $2,500 USD and it must be received for a minimum of 2 years after the residency application has been approved. This only applies to the primary applicant on the residency application.
What are the requirements to obtain this type of residency?
1. Income Verification: to apply for this category, there are 3 mandatory conditions regarding to the monthly benefit: The income must be permanent, irrevocable, and stable.
2. Proof of Income: to proof to the Immigration Department the source of the income, the Law provide to foreigners 3 options:
- Income Certification Letter issued by an International Bank: in case the primary applicant of the residency application received the monthly income in an international bank, it is required to obtain a letter that details the type of income (if it comes from investments, economic activities or any other source), the amount over US$2,500 and finally, the Bank must confirm that the person is able to receive this every month for a minimum of 2 years.
In addition to the income letter, to file this residency, it is necessary to obtain the credentials from the International Bank to proof to the Immigration Department the veracity of the Bank. Both the letter and the credentials need to be apostilled or legalized and, if the documents are issued in any language other than Spanish, it is required to obtain official translations.
Trusts or Certificates of Deposits are not accepted as sources of income according to the General Immigration Law. - Income Certification Letter issued by a Costa Rican Bank: a second option to apply as a Rentista, is to receive your income at a Costa Rican Bank account, however, it is important to bear in mind that it is only acceptable if the Bank is accredited by the National Banking System. The income certification must follow a format that is provided by the Immigration authorities, any changes on the language of the letter can jeopardize the future of the residency.
Trusts or Certificates of Deposits are not accepted as sources of income according to the General Immigration Law. - Income Certification Letter issued by a Costa Rican Public Accountant: in case you have your income from multiple sources or simply do not want to work with a Bank, it is possible to obtain a letter from a Certified Public Accountant on which, the accountant will review the financial situation of the applicant and based on an study of the person´s income, will deliver a letter certifying the monthly earnings.
On a side note, every document that is issued in Costa Rica, does not require any additional formalities, such as apostilles or legalizations, or the translations, making the process easier.
This type of category allows residents to keep producing or having economic activities abroad but at the same time enjoying their life in Costa Rica. If you are thinking of moving and avoid the stress of undergoing this process on your own, our firm is committed to walk with you during the process. Please feel free to reach us out, we offer a free consultation so we can provide the best guidance, you may reach us to This email address is being protected from spambots. You need JavaScript enabled to view it..
