Costa Rica is one of the nicest places to be for anyone. It has a stable government and economy. It has one of the lowest costs of living worldwide. It allows most of its citizens to have a high standard of living and avail of modern life comforts, usually at minimum cost to their income.
For these reasons, the country has been on the radar of most retirees for quite some time. Their penny would cost higher here than most parts of the world due to the low cost of living. They can avail themselves of healthcare benefits and are shielded from the political and economic instability that usually rocks other parts of the globe.
So if you are a retiree who wants to spend the rest of your years living in this tropical paradise, here are some things to bear in mind.
There are three categories of retirees here. The first is the pensionado status, the second is the rentista, and the third is the inversionista status.
The pensionados (pensioners) have a lifetime pension of at least a thousand dollars per month. It must come from the government, a private-sector pension, or some social security pension.
Those who apply for rentista status (renter) have a fixed retirement income amounting to $2,500. Those who apply for the rentista status do not have a pension but instead have a stable source of income, usually in the form of investment.
Those applying for inversionista status (investor) must invest in Costa Rica an amount of at least two hundred thousand US dollars. The investment could be in any business, and it could also be in the form of acquiring properties, a piece of real estate, or a home amounting to the required minimum amount, for instance.
You need to provide the following documents if you want to apply:
- Information sheet from the government
- Birth certificate
- Proof of income
- If married, a marriage certificate
- Certificate of Good Conduct from police
- Latest photographs
- Photocopy of passport
- If you have a representative, a Power of Attorney or other supporting documents
- Proof of registration to the local embassy
You also have to pay some fees. $50 is needed for the application fee, while a change in immigration status costs $200.
If you qualify for either of the three, why not apply and enjoy what Costa Ricans and other immigrants have? After spending most of your life working and hustling, you can retire in comfort and ease here in Costa Rica.