If you have invested or are planning to invest in Costa Rica with your own capital, you have the option to apply for a temporary residency category as an investor. This type of residency allows your spouse and children under 25 years of age, to obtain residency as dependents. It is valid for two years, renewable for two, and after having this temporary residency for three years, you will be able to upgrade it to a permanent one.

Additionally, this category is usually included in those bills that entail complementary benefits, exceptions or tax exemptions, since foreign investment represent a long-term national interest. Proof of this is the new regulation of the Law for Attraction of Investors, Rentistas and Pensionados (Law 9996), which has been approved but is still in the process to be regulated, in its entirety, has already generated positive impacts for the applicants of this residence, due to its goal of decreasing the amount of investment required to apply from $200,000 to $150,000 USD.

Now, within this category there are several subcategories depending on the type of investment you wish to make. Knowing them and understanding their requirements, will allow you to have a clearer perspective of how each of them may or may not apply to your needs.

Investment in productive projects or projects of national interest

This is the first sub-category mentioned in the Immigration Regulations. But first, what is a productive project or a project of national interest? Basically it refers to all those strategic production plans for the country, which generate work opportunities and a great amount of exports.

In order to apply for this type of investment, it will be necessary to provide a detailed description of the investments, productive projects or projects of national interest, that are going to be invested.

The following documents are requested by the Immigration Department (DGME):

• A notarized copy of the original feasibility study of the project

• A certified copy or, the original and a copy of the municipality permits and SETENA permits -if they are necessary due to the nature of the project-, in order to be confronted by a public official.

• Projects with a direct environmental impact, are required to provide a certification from the corresponding insurance company, indicating that the company is up to date in the payment of the labor risk policy, or proof of up to date payment duly certified and compared with the original.

• A certified copy of the company’s articles of incorporation (or original and copy).

• A certification of legal status of the company or corporation with an issue date of no more than one month prior to the filing of the application for temporary residence for the foreign person.

• A certification by an Authorized Public Accountant showing that the investment has been made in a personal capacity and a proof of registration with the General Directorate of Direct Taxation.

Investment in Real Estate and registrable movable assets

According to our experience, this is usually the most common type of investment. Mainly because within this subcategory, houses and vehicles are included, which undoubtedly represent important aspects to consider when starting a new life in a foreign country. It is very practical to invest in a place that allows you to live and apply for a residence, all at the same time.

For this type of investment, the DGME requests:

• A detailed description of the investments on real estate and registrable personal property that you own.

• A certification issued by the Property Registry, by showing that the inscribable movable or immovable property is registered.

• A proof of registration and payment of taxes before the General Directorate of Direct Taxation and the corresponding Municipality, in which it is demonstrated the real value of the property, marchamos or other tax charge that correspond to the nature of the good -if we are talking about a vehicle or a land-.

Investment in shares or values

Shares can be understood as a financing mechanism for companies or corporations. The person who invests can own part of the capital stock of a company and become a partner in it. On the other hand, investments in value consist of buying a share in the stock market.

You have to prove an investment of $150,000 USD, by providing the following documents:

• A detailed description of the investment in shares by a Notary Public.

• A certified copy of the Company’s Articles of Incorporation.

• A certification of income by an Authorized Public Accountant duly audited, which demonstrates the economic solvency of the applicant, this must always be based on its financial statements of the last fiscal period.

• A certification of legal status of the company or corporation with an issue date no more than one month prior to the presentation of the request for temporary residence for the foreign person and a proof of registration and payment of taxes before the General Directorate of Direct Taxation.

• If the investment is generated from abroad, the documents must be translated to Spanish, duly legalized or apostilled according to the country of origin.

Investment in forestry plantations

This last sub-category referes to the Law that allows an investment of $100,000 USD, differentiate from the ones mentioned before. This is mainly because its purpose is to promote an investment, that positively affects our forests. Costa Rica has a green image and attracting any capital that attemps to protect or grow its flora and fauna is always welcome.

These are the requirements for this type of investment:

• A certification by an authorized public accountant, which has to prove that a foreign person made an initial investment of $100,000 dollars, and must also proved in such certification, the total value of the investment, as established in the Forestry Management Plan.

• A copy of the resolution of approval of the Investment Management Plan, its activities of establishment, management and harvesting in Forest Plantations.

• The Management Plan must be programmed for a minimum term of 3 years, where the minimum initial investment of $100,000 dollars is established in accordance with article 70 of Law 7575.

• A certified copy of the Forestry Regent’s contract

• A certified copy or an original and copy of the municipality permits and SETENA permits -if necessary due to the nature of the project-, to be confronted by a public official.,

When the new regulations come into effect, there is a possibility that these sub-cateogories will increase. However, currently the only official ones are those mentioned in the previous paragraphs.

If you are thinking of starting your residency process as an investor or if you have any doubts about how to apply, do not hesitate to contact us, we are here to help you.