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July 14th, 2021, its final acceptance in its totality had been in limbo for a variety of reasons: Less urgency Post Covid, plenty of interest in Costa Rica lately anyway, voiced doubts by governmental entities like ICD (Anti Drugs Institute) about possible loopholes that could permit illicit capital to enter the country as purchased exempt goods and other possible money laundering schemes. Plus, anytime several government entities have to reach a consensus it becomes slower than molasses in winter in spite of being in the tropics. Just recently, in early February, the current President, Don Rodrigo Chaves, gave a big push to moving the project forward in a speech with the Ministers of Tourism (Mr. William Rodriguez), Tax (Mr. Nogui Acosta), and of Governance and Security (Ms. Marlen Luna) which is the Ministry that oversees the Immigration Department (Direcci ó n General de Migraci ó n). The first article of this new law says - Object of the law: The purpose of this law is to create the regulatory framework to encourage the attraction of investors, rentiers and pensioners,

thus protected by Law 8764, General Law of Migration and Immigration, of August 19, 2009, to contribute to the reactivation of the Costa Rican economy in a post-COVID-19 pandemic period.

The persons who Will Benefit under this law #9996 would receive the following:

Duty free of all import taxes for one time only, for the importation of household items. Importation of up to 2 motor vehicles (for terrestrial, aerial and/or maritime transport) for personal or family use, free of all import, tariff, sales and economic stabilization taxes, which may be sold or transferred to third parties, exempt from said taxes after three years have elapsed from the date of entry of the vehicle into the country. A total loss would allow a replacement vehicle to receive the same benefits. The amounts declared as income to qualify for the benefits of this law will also be exempt from Income Tax. Exoneration of 20% of the total property transfer tax for real estate acquired within the term of this law, provided that the beneficiary is the registered owner of the asset. Tax exemption for the internment of instruments or materials for professional or scientific practice. Penalties: In the event that the beneficiary person renounces his / her status as a "Pensioner Resident" or as a "Rentista Resident" within the term of this law, he / she must pay the taxes from which they were exempt. The text also states that: “To maintain the benefits that a person acquires in compliance with the provisions of this law, the demonstration of permanence of a minimum of days in the country is not mandatory”.