Jump to: Quick Facts · Practical Info · Why Move Here? · Why NOT Move Here · Visas & Finding Work · Residency & Citizenship · Starting a Business · Links & Resources
Interested in moving to Costa Rica? Here’s what you need to know:
Costa Rica: Quick Facts
- The country has a population of ~5.3 million.
- Costa Rica has no army – the military was abolished in 1949 and the military budget is now used for culture and education.
- Life expectancy is around 81.5 years.
Practical Information
- Currency: CRC – Costa Rica Colón (₡)
- Spoken languages: The primary language is Spanish but in the tourist areas many speak English and lots of kids learn English in school.
- Largest cities: San Jose (the capital) contains 335,000 people, Puerto Limon has 63,081, and Liberia has 45,380.
- Major religions: Studies done by the University of Costa Rica found that 70.5% of the population is Roman Catholic, 13.8% are Evangelical, 11.3% say they do not have a religion and 4.3% belong to a different religion.
Why move to Costa Rica
- A popular saying you will hear in Costa Rica is “Pura Vida” which translates to “pure life” – the locals (aka ticos) are known to be friendly.
- Costa Rica provides universal health care (to citizens and permanent residents). Among the best healthcare in Central America.
- Many places in Costa Rica are known for their temperate climate – where you do not need air conditioning or heating. If you enjoy the heat, Costa Rica has many locations with high average temperatures.
- Costa Rica has modern conveniences like high speed internet and 4G cell phone networks.
- The coastlines are warm, with ideal conditions for swimming or surfing year round.
- The fruits and vegetables are well priced, you will find fresh organic options and some exotic fruits.
- Established communities exist in the popular expat areas (e.g. Guanacaste, Tamarindo, Puerto Viejo).
Reasons not to move to Costa Rica
Note: these are common expat complaints, and may not apply to you.
- The import taxes are high, so it may be difficult to find imported goods. Consequently, prices for groceries and common items can be higher than expected.
- If you are used to a fast passed life, you are unlikely to find it in Costa Rica. Things move slowly, and everything seems to take much longer than anticipated.
Getting a Visa and Finding Work
- Depending on your nationality, you are eligible for different categories of visa. If you are classified as “group one” you automatically get a 90 day temporary visa when you enter the country. This applies for countries such as Canada, USA, Australia, Brazil and European Union. Once your 90 days are up, you must leave the country for 72 hours then return to gain another 90 days. On many occasions you may not even have to wait the full 72 hours (depending on the immigration officer).
- Citizens who are classified as “group two” may enter Costa Rica without an entry Visa and may remain in Costa Rica for up to 30 days. This applies for such countries as El Salvador, Belize, Guatemala, Honduras and Venezuela.
- If you are a citizen from a “group three” country you will need to obtain a visa from the Costa Rica Embassy or Consulate before entering the country, if obtained the visa grants 30 days in Costa Rica. This applies for countries such as Colombia, Ecuador, Peru and India.
- To legally work in Costa Rica, you must either obtain permanent residency or be classified as a highly skilled worker in an in-demand trade (a local employer can apply for a 1 year work permit on your behalf, providing that they can prove the position cannot be filled by a local).
- Obtaining a work permit involves several steps, including applying for a provisional visa, registering fingerprints, and submitting documents to the immigration department.
- Highly Skilled workers: you’ll need a bachelor’s degree or higher, relevant work experience in an in-demand field, and a work permit.
- Digital Nomad visa: requires proof of at least $3,000 USD monthly income from abroad and costs approximately $700, excluding translation and additional fees.
Permanent Residency and Citizenship
- Pensionado Residency: if you have a pension of at least $1000 USD per month, you may obtain temporary residency for 3 years. After 3 years you can apply for permanent residency.
– Note: this income must be proven to continue at each renewal, and physical presence in Costa Rica is required for at least four months per year. - Rentista Residency: you are eligible for this if you can prove that you have $2500 USD per month in spending money for 2 years. Usually the applicant will need $60,000 deposited in to a bank account and you convert $2500 USD to CRC every month, the bank will supply a letter to the bank stating that you have the $60,000 for the following 2 years. Another way is have a letter from a regular employer stating that you will earn a minimum of $2500 per month over the following 2 years.
- Inversionista Residency: investing $150,000 in real estate or business will give you temporary residency. You will be eligible to apply for permanent residency in 3 years.
Starting a Business in Costa Rica
If you a looking to invest in a business in Costa Rica then you do not have to have residency. Foreigners are allowed to own properties and businesses. If you live in Costa Rica without residency and own a company you are still allowed to take money from the business and oversee operations – you just can’t take up a job that a citizen can do.
- The cost of registering a business is estimated at around $1000, but this can vary based on the type of business and legal fees. Additional costs include notary fees and licensing fees.
- Your lawyer will need to register the business with the tax authority.
- You will need to obtain permits from Ministry de Salud and Municipality.
- Different business structures are available in Costa Rica, such as Sociedad Anónima (SA) or Sociedad de Responsabilidad Limitada (SRL). Knowing which is which is important for tax and operational considerations.
- Business taxes: Costa Rica has a progressive corporate income tax, and businesses may be exempt from taxation if they serve only foreign clients.
Links & Resources
- Embassy of Costa Rica in Washington D.C.: useful information.
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