RESIDENT ANNUITANT

This regime is applicable to residency requests based on receiving a specific monthly income in a permanent, stable and irrevocable manner.

Upon approval of the residency, the beneficiary may get involved in business activities but not be hired as an employee.

REQUIREMENTS FOR THE RESIDENCY 

Fingerprinting, background check and interpol:

The first step for obtaining residency -before filing any of the application documents- is getting fingerprinted. This requirement applies to the main applicant and its dependents ten years or older.

Fingerprinting starts a local investigation to check that the applicant has a clean criminal record, and a request for INTERPOL to conduct an international search as well.  INTERPOL generally takes up to one month to respond, thus it is very advisable to get fingerprinted as soon as you have decided to apply for your residency.

The request for fingerprints is made on a form which must be pre-approved by Immigration. Our firm will guide you through this step at Immigration and at the Police Offices.

Application by the interested party:

Our firm prepares the application once all required information and documents are received, which is to be delivered as a complete package by the applicant at the Costa Rican Consulate with jurisdiction over his or her country of citizenship. One application per family member is required. In most cases, a special power of attorney for filing at the Consulate through a third party is possible.

Declaration under oath:

This declaration must be executed before a Costa Rican Notary Public (presence in the country is required). The applicant, his spouse and children over 18 years old, if they are to be included as dependents, must each sign a separate declaration. It contains general statements such as that the applicant will observe the laws of the country and that the income will be converted yearly into local currency, among others.  

Monthly income:

A US$1,000.00 monthly income is required for one applicant. A US$2,000.00 monthly income is required for a married couple (applicant plus spouse) and an additional US$500.00 monthly income is required for each dependent.  The income may come from a local or foreign bank.

The income must be documented by a letter from the bank certifying its obligation of giving the applicant the monthly amount of at least the amount indicated in the above paragraph –determined by number of dependents- for a term of no less than five years, in a permanent, stable and irrevocable manner.

This letter must include the applicant’s name and personal data -full name, marital status, passport number, indication of domicile and occupation-. and it is imperative that it has exactly the above-mentioned wording (suggested letter format is attached at the end of this document).

The chosen bank must appear listed at Polk’s Bank Directory (we will check this listing for the applicant).

Once the income letter is ready, we recommend for it to be faxed to our office for verification of its acceptability by Immigration before it is legalized by the Consul and sent to Costa Rica.

POLICE CERTIFICATE:

A clean criminal record certificate for the applicant and for its dependents  fifteen years or older to be included in the regime, if any, is required. It must be issued by the local police bureau of the place where the applicant has lived during the last six months before the application. This document is valid only for six months after its issue date.

Birth certificate:

A birth certificate for the applicant and his dependents (if any) is required. This document must be issued by the appropriate authorities at the place of birth.

Marriage certificate:

Required only for applicants that wish to include their spouse under the regime.

Copy of passport:

Required for both the applicant and his dependents to be included in the regime. It must comprise all pages (including blank pages). 

Photographs:

Six front passport-size photographs are required.


IMPORTANT!

  • All documents originating abroad require authentication by the Costa Rican Consulate located in the country of issue. Costa Rican Consulates are divided into jurisdictions. In the majority of cases, Consuls will not legalize or authenticate documents not issued by authorities in their jurisdiction. In the United States, specific consulates serve certain States. Consult the Consulate nearest the place of issue of the document for procedures, office hours and fees for each specific document.
  • All documents in languages other than Spanish must be translated in Costa Rica by an official translator (this step is met through our Firm).
  • After granting of residency, the beneficiary must live in the country at least four months per year (consecutive or alternate) in order to maintain the status.
  • After granting of residency, the beneficiary must prove that the required income (be it US$1,000.00, US$2,000.00, or more depending on the case as was explained above) was converted into Colones in one of the National Banking System banks. In practical terms, it is feasible and recommended to make one conversion per year, for the full amount corresponding to twelve months.

 

 

Please see Bank Model Letter on the following page.

 

©2006 Henry Lang, Lang & Asociados. All rights reserved.