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Guanacaste, Costa Rica by Joseph Emanuelli

Real information and stories from Guanacaste , Costa Rica. Presneted by a long time expat living and working in Costa Rica
How to Renew Residency as an Investor in Costa Rica.

I am happy to say that I personally have accomplished this task this week without the help of an immigration attorney to guide me thru the process. Let me explain. I received my temporary residency as an “inversionista” or Investor Status, two years ago with the help of a great immigration attorney and I recommend you go this route to obtain it. if you need a reference just email me, jaaechef@gmail.com  and I will put you in touch with mine.  I was one of the very first to receive this style of residency thru the new regulations of allowing a foreigner to gain temporary  residency utilizing an investment in Costa Rica valued and certified over $200,000 USD. Go to THIS LINK  http://www.costarican-american-connection.com/Requirements_to_Retire_In_CR/page_2141941.html  to read more for the requirements of gaining residency in Costa Rica. After another two years of temporary residency, I will be allowed, so long as I have paid my taxes and been a good citizen, to apply for permanent residency.

Here are the requirements for renewal for the investor category of residency. It look long and hard but it is not.

Investor:  After two years of temporary residency and prior to the expiration date, an investor has to put together a list of documents proving that have been abiding by the terms of their residency.

1)      You will need a property certification from the national public registry that states you or your corporation is still the owner of the property and the value declared is the same or higher than when you first applied for residency. This is all on one form. Bring a copy of this document as well

2)      If your property is held by a Costa Rica corporation you will need “Personería Juridica” or literal translation “Legal Personality”. This form states that you are a legal representative of the corporation with powers to act on behalf of the corporation. You can get this form from the public registry as well. Bring a copy of this document as well.

3)      Once more if the property is held in a Costa Rica corporation you will also need a shareholders certification. This is another legal form that states and certifies that you  still a share holder in the corporation, even though the personaria states this.  This you will need to get from your attorney that represents your corporation. Again make a copy of this form as well.

4)      You will need a certification from the local municipality, that your property is still declared above the $200,000 USD and that you are up to date on all property taxes.

5)      You have to have a copy of your residency car and the original.

6)      You have to bring your original passport and a copy of the full front page.

7)      You will also need a certification of the income of your corporation. This you can get from a Costa Rica CPA.

8)      Proof of payments to the Costa Rica social Security department  called CAJA

9)      A copy of and the original health card give to you By the CAJA.

10)   Proof of payment to the immigration department of Costa Rica for your renewal. This is a fee that needs to be paid thru Banco de Costa Rica or BCR for short into account # 242480-0. You make one payment of $98.00 and another for $25.00 with your name as the concept of the payment.

11)   Last but not least you need to bring a copy of the original resolution issued by the immigration department granting you residency. This is the one I forget and had to scramble to get the day of.

I know this seems like a lot of stuff to gather but it really is not that hard and you can do most of it yourself. Or if you do not want to mess with it, ask your attorney that represents your corporation to get the legal stuff for you. Once you have all the documents ready, depending upon where you are located in Costa Rica, go to the immigration department and make an appointment to renew your residency. I did it in Liberia Guanacaste ( I was actually the very first one to renew this type of residency in this office). Be on time for your appointment if you are late then you have to come back another day, make another appointment. I got my appointment last Friday showed sharp at 8:00 AM on Monday and I was out the door in a couple of hours with paper work to go to the post office and pay another $5.00 for the new card and mailing service. The new cedula card will arrive in approximately 2 weeks and the Post office will call when it is there and ready to be picked up.

Thanks for reading my blog. What you would like to know about  or read about?

Just send me a note and I will look into it


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