GOOD NEWS FOR APPLICANTS FOR RESIDENCY IN COSTA RICA: IMPLEMENTATION OF THE HAGUE APOSTILLE CONVENTION AND ESTABLISHMENT OF RESIDENCY BASED ON REAL ESTATE INVESTMENT!

Costa Rica is finally implementing the Hague Convention on the Apostille system, meaning that all documents issued abroad –in countries which are signatories of such treaty- will be easier to process so they can be recognized. Such foreign documents will only require, for their validity in Costa Rica, to be apostilled in the country of origin, and will not need to be legalized before a Costa Rican Consulate anymore.

These changes will certainly make the Costa Rican residency application process more agile, so a more expeditious relocation will be permitted.

Further breakthroughs affecting immigration to Costa Rica can be reported this month, since the Immigration Authorities (Dirección General de Migración y Extranjería) are now allowing applications for residency under the basis of owning property in the country, without having to demonstrate a productive business generating from such investment. Although the rules of application for this new regime are not all clear yet, we are certain that this residency based on owning land in Costa Rica will become a good option for individuals not being able to qualify under the traditionally used resident annuitant (“residente rentista”) and resident pensioner (“residente pensionado”) regimes, which, however, continue to be well recommended alternatives as well.

For further information on applicable residency regimes and alternatives, as well as on the apostille system, access our detailed articles in this web site.