Residency
Option Processes
Costa Rica, the tropical haven has seen a great influx of
businessmen and tourists in the recent years. Many people who vacation here
have also come back to settle down due to the sheer beauty of the country. As a
business destination and as a business destination, Costa Rica has worked
wonders with many people across the world. With a lot of residency options to
choose from, settling down in Costa Rica is also a very process and not time
consuming.
North Americans can stay in Costa Rica for about three
months without having to a great deal of documentation. However on the
expiration of the three month period it is mandatory on their part to stay out
of Costa Rica for at least seventy-two hours. However one can easily buy property
in Costa Rica. The process of buying a property in Costa Rica takes about four
months, depending on the type of residency demanded. The most common type of
residency offers the Costa Rican government gets is from retired persons. They
fall under the category of ‘Pensionados’ or persons who receive lifetime
pension. The other form of Residency is the 'Rentistas' or the people who don’t
have a pension but receive income from their investments. The 'Inversionists' are people who wish
to start a business in Costa Rica or invest in of Costa Rican companies.
In order to buy a property in Costa Rica the customer
should not have a criminal record. He can claim his spouse and children (if he
has any) aged below eighteen to be dependant on him. Thus, they can gain access
into Costa Rica and become residents of the country. Permanent residency is
granted by the Costa Rican Government only and if only the credentials of the
immigrants are up to date. The final decision however rests with the Consulate
of Costa Rica
In order to immigrate to Costa Rica the one must have
proper birth certificates, marriage certificates, police certificates and all
foreign documents. Residency permission in Costa Rica can be received easily if
the applicant receives monthly income not less than $1000 for a continuous time
period of at least five years. Although the immigration process is rigorous,
the policy is relaxed for North American residents.
If a Costa Rican Company has a net worth of more than
$150,000, it can get a permanent residency status for its foreign employees on
filing the required legal documents. Other required authorization papers must
be filed too in order to get permanent residency status for non-Costa Rican
employees.
Costa Rica also grants students permits for aspiring
candidates wishing to study in Costa Rican colleges. But this permit is
temporary and does not automatically convert itself to permanent residency.
Moreover the students must enroll themselves in Costa Rican Government
recognized school or college. The institution can be private but it should be
recognized by the government.
Temporary work and residency permits are also granted by
the government provided the applicant can show valid papers of being employed
by a local company or a company having a branch in Costa Rica. However he
should be able to show the labor contract while applying for work permit and
residency in Costa Rica
However the sole authority for allowing or rejecting an
immigration application rests with the Immigration Authority of Costa Rica. The
Government grants immigration depending in the applicant’s financial soundness,
his investments, primarily his background.
It depends on the discretion of the Immigration
Authorities to accept or reject an immigration plea. Hence if all their legal
demands are met one has good chance of being able to immigrate to Costa Rica.
If the individual’s legal papers are in order then there is no reason why he
cannot receive permanent residency permit into Costa Rica. It is after all a
tax payer’s haven and who wouldn’t want to go there!
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