“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:
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