Law to Attract Foreign Pensioners and Renters

“Law to attract Foreign Pensioners and Renters” – as a post-pandemic economic measure, this past June 22nd, Costa Rica’s legislature approved, in its second debate, bill no. 22156.  This law and decree was passed to “contribute to Costa Rica’s economic reactivation”.


With this new law entered and enforced,  a legal framework now provides incentives and exemptions that will encourage migratory foreigners, which includes investors, renters and pensioners, to invest their capital in Costa Rica.

The legal initiative stipulates that any foreigner opting for temporary residence as an investor must demonstrate to the authorities a minimum investment of USD$150,000 in real estate, registrable assets, shares, securities and productive projects or projects of national interest.


Investors, renters or beneficiary pensioners who opt for said benefits during the first five years of the law taking effect, will be entitled to the following article 5 list of benefits for a period of 10 years from the date they were first granted:

  • An exemption of import customs taxes on household goods.
  • Beneficiaries may import up to two land, air and/or sea transportation vehicles, for personal or family use, free of all import, customs and value added taxes.
  • The amounts declared as income to qualify for the benefits of this law will be exempt from Income Tax.
  • Exemption of 20% of the total transfer tax, in any real estate acquired within the term of this law, provided that the beneficiary is the registered owner of the asset.
  • Import taxes exemption for instruments or materials used for professional or scientific practice, carried out by the person with the migratory category of investor, retired resident or renter resident

The only thing that remains is for President Carlos Alvarado to sign the law, and then its publication in La Gaceta to become Costa Rican Republic Law.

Costa Rica Real Estate
August 31, 2021

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