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Pensioner visa (Pensionado) Residencies Plan of Costa Rica (North America)
Pensioner visa (Pensionado)
Proof of permanent monthly income of US$1,000. There is no minimum age to qualify and may include a spouse, and children under 25 years or older with disabilities. Additional income for dependents may be required.
The permit has a validity of 2 years, and may be renewed on condition that you still meet the requirements. For renewal, it must be proved that the income has been received in Costa Rica and you have lived in the country at least 4 months per year, continuous or discontinuous.
Pensionado Visa holders may establish a business or work on their own, but may not work as employees.
Once you have legally resided in Costa Rica with any temporary residence permit for 3 or more years, you may be eligible for permanent residence.
Permanent Residency in Costa Rica allows working as an employee for a Costa Rican employer and the minimum requirement of annual stay is to visit the country once a year for 72 hours. Permanent residence is individual and does not include dependents.
Permanent residency must be renewed every 5 years.
Foreigners who have a first-degree relationship with a Costa Rican citizen, either spouse or child, may also apply for the permanent residence visa, even if they do not fulfill the residency requirement.
After 7 years living legally with a temporary or permanent residency visa, a foreigner may apply for citizenship by naturalization. Citizenship by naturalization gives the right to obtain the Costa Rican passport. Dual citizenship is de facto allowed; naturalized citizens are not usually required to renounce to previous citizenship.
To become citizen, you will be required to have knowledge of spoken and written Spanish, pass a test about Costa Rican history and values and have 2 witnesses that can testify to your conduct and livelihood.
Requirements
Demonstrate with a document issued by a competent authority that you receive a lifetime pension of an amount of at least US$1,000. If the certification is issued abroad it must be duly legalized and authenticated or apostilled.
You will be required to contribute to La Caja Costarricense de Seguro Social (C.C.S.S.) (Social Security Fund), acquiring a seguro voluntario (voluntary insurance). The cost will depend on the income received, but it is around 9-10% of the stated monthly income.
Restricted Nationalities
No nationality is officially restricted
dual citizenship
Dual citizenship is recognized in Costa Rica. You are not required to renounce your previous nationality to become a citizen of Costa Rica.
Documents Required
- Receipt of payment of fees
- Two passport-size photos
- Proof of fingerprints record
- Original Police Clearance Certificate
- Original and photocopy of passport
- Proof of consular registration
- Original or Certified copy of Birth Certificate (if applicable)
- Original or Certified copy of Marriage Certificate (if applicable)
- dual citizenship Yes
- Family members included Yes
- land ownership Yes
- Physical residence required No
- Personal visit required No
- Language skills required No
- Interview required No
- Investment Single -
- Investment Family 4 -
- Minimum annual income $12,000
- Time to citizenship 84
- Time to permanent residency 36
- Visa-free countries 134
- Financing available No
Costa Rica
Costa Rica is a Caribbean country located between Panama and Guatemala and is a member of the CARICOM. It covers just over 51,000 sq km and has almost 5 million inhabitants. Its capital and political, cultural, social and economic center is San Jose and its official currency is the Costa Rican Colón, although the US Dollar is commonly accepted.Costa Rica is often called the 'Switzerland of Central America', because of its pleasant lifestyle, lack of army, stable democracy and its impressive natural beauty; its considered the happiest, most ecological, green and sustainable country on the planet. Costa Rica is one of the most progressive, developed and stable countries in the Americas, with an emphasis on the environment, freedom of the press, security, equality, democracy, health and education.
- National Flag of:Costa Rica
- Currency:CRC
- Area Code:506
- Capital:San José
- Continent:North America
- Native Languages:Spanish, English
- Population:4,516,220
BENIFITS
With your new passport from Costa Rica you'll be able to access 134 countries visa free
citizenship benefits Visa-free or Visa on arrival to 134 countries including Schengen Area United Kingdom Japan The right to live and work in Costa Rica at all times and all the rights associated with membership of the Caribbean Community (CARICOM) Access to educational and healthcare benefits Low cost citizenship permanent residency benefits The right to live and work in Costa Rica without any time limit Be eventually eligible for citizenship Access to healthcare and education system temporary residency benefits Peaceful democratic and politically stable country Low tax jurisdiction Warm climate Territorial tax system High quality of life Be eligible for permanent residency in a short period of time Fast and easy process Low cost of living Low cost programFEES
| ITEM | AMOUNT |
|---|---|
| processing fees main applicant | $50 |
| other fees | CRC 2.50 (each passport sheet) + CRC 150 $200 (visa category change) (if applicable) |
| total fees main applicant | $50 |
| processing fees spouse | $50 |
| other fees | CRC 2.50 (each passport sheet) + CRC 150 $200 (visa category change) (if applicable) |
| total fees spouse | $50 |
| processing fees dependents -18 | $50 |
| other fees | CRC 2.50 (each passport sheet) + CRC 150 $200 (visa category change) (if applicable) |
| total fees dependent -18 | $50 |
| processing fees dependents 18-25 | $50 |
| other fees | CRC 2.50 (each passport sheet) + CRC 150 $200 (visa category change) (if applicable) |
| total fees dependent 18-25 | $50 |
| processing fees dependents +65 | - |
| other fees | CRC 2.50 (each passport sheet) + CRC 150 $200 (visa category change) (if applicable) |
| total fees dependent +65 | - |
TAXES
An individual is tax resident in Costa Rica if she or he spends more than 6 months a year within the country.
Costa Rica levies income taxes on a territorial basis. This means that both tax residents and non-residents are subject to tax only on their Costa Rican-source income.
Local income is taxed at progressive rates up to 25%. The employment income top marginal tax rate is 15%.
Dividends are subject to a final withholding tax of 5%. Interest income is taxed at 15%, except for those obtained from the local stock exchange, which are taxed at an 8% rate. Net rental income is subject to tax at regular income tax rates.
Capital gains are not subject to taxation in Costa Rica, as long as capital gains are not the regular source of income of an individual or entity.
Real property tax is levied at 0.25% on the value of the property. A luxury house tax may also apply.
Transfer of movable and immovable properties are subject to a transfer tax of 2.5% and 1.5%, respectively.
There are not taxes on net wealth and inheritances.
Sales tax in Costa Rica is levied at 13%.
Regarding corporate taxation, resident entities are subject to corporate income tax of 30% on income earned within the country. Lower rates may apply to companies with low income levels. Foreign-source income is not subject to taxation. To learn more about company taxation, legal framework and tax treaties, you can check out incorporations.io/costa-rica.
| TAX ITEM | DESCRIPTION |
|---|---|
| Property tax | Yes |
| Transfer tax | Yes |
| Inheritance tax | No |
| Net worth tax | No |
| CFC law | No |
| Tax residency days | 183 |
| Personal income tax rate | 25% |
| Capital Gains tax rate | 0% |
| Investment income tax rate | 25% |
| Territorial taxation | Yes |
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