Tamarindo Living Essentials - Residency or Not?
You don't have to tell us how great life is in Costa Rica. As leaders in Costa Rica real estate, and specifically Tamarindo real estate, we know firsthand. If you're like us, you might be thinking of spending more than just a little time down here. You might be planning on something more permanent. If that's the case, we should talk. In fact, let's talk residency.
There are variables to consider, including the option to not apply for residency at all. Ultimately it comes down to what you want out of your time in Costa Rica. If you are planning to stick around for more than a few weeks you may be a candidate for temporary residency.
Unfortunately, much of the internet noise on this subject is anecdotal. A quick search and you will find horror stories and great triumphs alike. To abate this challenge, we'll keep this article to mostly facts, but we will weigh in on our opinion.
Part of the confusion with “the facts,” is they are based on Costa Rican residency laws. These particular laws are not cast in granite so the details can change.
Here's where we'll weigh in. Working with a professional, an attorney, is the best solution for navigating with ease. Be sure to find an attorney whom you find, via a trusted referral, not one who finds you. And here's why...
At the end of the day there are unforeseeable challenges you may not be prepared for as an individual. All of these challenges, for someone who does this all the time, are manageable. The anxieties you are feeling (right?) go into someone else's hands when you hire a professional. You may never even get wind of any challenges when someone is being paid to handle them. We consider that money well spent.
Other than permanent residency, which will not be covered in this article, there are three types of temporary residency one can apply for. Here we will explore the benefits, the options, and what is required (as of this writing) to apply.
So why bother? As a resident, if you are staying longer than the length of a vacation, you are aligned with the laws of Costa Rica. There is no question about why you are here. The other big one is you get a cedula number. This is the national identification system, necessary for handling certain types of business, such as setting up utilities, or a cell phone contract.
Also, your residency in Costa Rica affords you access to the national health care system. Not without it's challenges, Costa Rica is constantly rated with one of the world best socialized health care systems. This includes quality dental care. In fact, one of the defining features of Costa Ricans over their Central American counterparts is their smiles.
So what are your options? Here is the basic rundown.
Pensionado – This option is designed for transplants to Costa Rica who receive a monthly pension equal to or greater than $1000.
Rentista – Developed for transplants who want to stay in Costa Rica long term, are sufficiently funded to do so, but don't have a formal pension plan.
Resident Investor – An alternative to the Rentista this residency option allows transplants who invest $200,000 into a government approved investment in Costa Rica.
These are the documents you will need in all three cases.
1) Valid Passport for each applicant.
2) Long Form Birth Certificates for each applicant.
3) “Certificate of Good Conduct.”
4) Marriage Certificate, if married.
5) Proof the type of residency you are applying. This varies in each case.
Now... before you run out and collect these, understand that there are variances in the way these documents can be obtained. As example, there is a version of your birth certificate which will not pass. Also, not all forms of “Good Conduct” will be accepted.
Understanding the correct forms to collect is where professional help saves you time, money, and headache. You can do it alone by checking with consulate of Costa Rica, but when you run into challenges, you may not get the help you desire from that office.
Lastly, there will be a slightly different process of validation, beyond notary public, which will be required. This depends on which country you are coming from. Again, professional help is huge.
Seem like a lot? Relax. We are going to stop here for now. We'll pick up this topic with our next article and dive into alternatives. There we will explore the option of being a perpetual tourist, what it takes to get permanent residency, and how you might become a full Costa Rican citizen.
[Quick disclaimer: This article has been prepared by Coldwell Banker Tamarindo for informational purposes only and is not, nor is it intended to be, legal advice. This information is not intended to constitute, and receipt of it does not constitute a contract for legal advice or the establishment of a solicitor-client relationship.]
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