Foreign investors looking for new countries where they can develop economic activities can choose Costa Rica, a destination where the good living standards entwine with the possibility of running a successful business, thus ensuring the dream of everyone who wants to enjoy one of the most exotic states in the world.
One of the simplest ways of moving to Costa Rica is by applying for residency by investment through a program designed for entrepreneurs who aim at conducting business activities here. Below, our local specialists explain the conditions of the scheme. You can rely on us if you want to immigrate or start a company in Costa Rica.
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The Costa Rica Investor Residency program
Over the years, Costa Rica has had various laws that targeted foreign investors, and the residency by investment one has recently suffered a major alteration to the benefit of those who want to move here.
The new law provides for a lower amount of money to be invested in a project approved by the government, so if you are planning to immigrate to Costa Rica, this is a great time to apply for an investor visa in 2024
We also have a team of dedicated company formation agents in Costa Rica who can help you register a business in this country. If you are interested in starting a business in another country, such as Malta, we can put you in touch with our local partners.
The new residency by investment scheme in Costa Rica
The main highlight of the Costa Rica residency by investment program is the drop of the amount to be invested from 200,000 USD to 150,000 USD. Also, the investor visa comes with 4 categories of investments you can choose from, however, an even lower amount is also available.
Here are the main conditions to apply for an investor visa in Costa Rica:
- the minimum amount to be invested is set at 100,000 USD and it must target forestry projects;
- setting up a new company in which at least 150,000 USD are invested is also an option;
- the same amount of 150,000 USD can be invested in an existing business;
- real estate investment with a minimum purchase value of 150,000 USD is the last option for those seeking to move to Costa Rica and obtaining investor visas.
These are in general lines the main requirements to access the 2024 Costa Rica Investor Residency program, however, there are also other details you need to pay attention to that can be explained by our advisors.
Costa Rica recognizes dual citizenship. To become a citizen of this country, you are not required to give up your current nationality. So, if you considered this an impediment in for applying for Costa Rican citizenship, you no longer need to worry about maintaining your status of a citizen of your home country.
Forestry activities as a means to obtain an investor visa in Costa Rica in 2024
By far, one of the most advantageous ways of obtaining a Costa Rica golden visa is through investment in forestry projects that can take one of the following forms:
- preservation of forest sites;
- regeneration of forests.
For this purpose, permits from the Environmental Agency within the Ministry of Environment and Energy in Costa Rica. Also, licenses must also be obtained from local authorities where the sites are located.
The minimum amount for obtaining a Costa Rican investor visa in 2024 this way is 100,000 USD and our consultants can help you prepare the necessary documentation for a successful relocation.
Compared to North America and other neighboring countries, Costa Rica has cheaper property prices. Foreign pensions and other income earned outside of Costa Rica are exempt from income taxation for foreign residents. So if you are interested in filing for a residence permit in Costa Rica you would make a good choice.
How to obtain residency by investment in Costa Rica through business creation in 2024
Investing money in a new or existing business is without a doubt a very appealing option if you are a foreign entrepreneur and want to have economic activity in Costa Rica. The minimum amount to inject is 150,000 USD and targets specific areas of interest.
Among the projects that can qualify for a new business through which you can obtain Costa Rica residency by investment are those related to tourism (hotels, restaurants), but also service-related activities are accepted. One of the most important aspects to keep in mind is that a solid business plan is necessary in order to meet the visa requirements.
Investment in a new company, on the other hand, refers to partially or fully acquiring a Costa Rican company.
If you want to open a company in Costa Rica and need support, you can definitely rely on our company registration representatives.
The majority of immigrants who move to Costa Rica go for the option purchasing temporary residence permits. The type of visa issued will depend on the amount of money the plan to invest to Costa Rica. The main concept behind this program is that by contributing to the economy, they will be considered active members of society.
How to apply for an investor visa in Costa Rica
The Costa Rican government must approve your investment before you may obtain an investor visa, and the application procedure may take up to 2 months. The temporary residency permit will be filed alongside the visa.
The most important aspect to consider about the Costa Rica Investor Residency scheme is that the vetting procedure is quite lengthy (approximately 9 months), which means that the total timeframe for obtaining the visa can increase to 12 to 15 months. This is why it is recommended to use specialized assistance, such as that of our immigration specialists.
After 3 years of living in Costa Rica with an investment visa, you will be qualified to apply for permanent residency. You need to be in the nation for at least 72 hours annually in order to keep your status. Citizens of several countries, such as the United States and Canada, are allowed to hold dual citizenship, which makes applying for an investors’ visa a common choice for people from these nations.
Why opt for residency by investment
There are numerous ways to become a resident of Costa Rica. Depending on your current visa and individual circumstances, it may only take 2 or 3 years to transition from temporary to permanent residence status. In order to keep your status as a permanent resident, there are other requirements you must meet, such as the number of months you must spend each year in Costa Rica. This is why the 2024 investor visa program is one of the most appreciated. When it comes to purchasing real estate, expats enjoy the same rights as Costa Ricans, thus you can buy a home outright in your own name.
To ensure you stay within the law when it comes to paying your taxes in Costa Rica, you should probably seek professional counsel from our specialists. We also offer support in VAT registration.
If you want to apply for Costa Rica residency by investment and need information about the advantages of this type of visa, feel free to contact our consultants. We are also at your service if you decide on citizenship by investment which implies a different set of regulations, however, we can also help move here through other types of residence permits.