Costa Rica Real Estate Magazine

ARTICLE | REAL ESTATE

THE NEW PROPOSED PENSIONADO LAW TO ATTRACT FOREIGN INVESTORS AND PENSIONERS By Hernan A. Carazo tourrificticotours@gmail.com )

4 COSTA RICA REAL ESTATE MAGAZINE The Project to attract foreign investors and pensioners - File 22-156 is an ini- tiative proposed by the Government of Costa Rica which is currently favorably working its way through the General Assembly and is aimed at contributing to the post pandemic reactivation of the Costa Rican economy and would have an effective term of 5 years from the moment the Law is published and has the option to extend up to a decade. It reduces from US$200,000 the amount

required to qualify for Residency under the Inversionista Resident program, down to US$150,000. Currently the law says the following for the Investors and their Dependents category of resi- dency applicants: Article 87.- For the application for tem- porary residence as an investor, the interested foreign person must demon- strate their investment with a capital of not less than US$ 200,000 (two hun- dred thousand dollars) according to the

official sale exchange rate determined by the BCCR, and whether in real es- tate, registrable assets, shares, securi- ties and productive projects or projects of national interest such as sustainable tourism infrastructure. In those cases where the investment is regulated by special laws, it will be analyzed indi- vidually. The proposed bill establishes that this will apply to all those persons who are authorized to enter our country under