Rentista and Pensionado Program
Lic. Rodrigo José Pastor Peralta
Attorney /Abogado
rpastorp@abogados.or.cr

In past issues, I talked vaguely about obtaining residence in this beautiful country, Costa Rica. Thanks to your feedback, I now know that this subject interests many Costa Rica Today readers, so in this edition I want to talk a little about a program designed by the Costa Rican government as an incentive for those individuals who can prove a permanent and stable income from investments, pension or retirement benefits, to obtain permanent residence in this great nation.

The program is divided into two subcategories depending on whether the person applying is a retiree or a fortunate individual who receives a stable income from investments.

Under the first subcategory, the retiree, the main requisite is that the applicant proves he has a permanent fixed income from a pension or other related retirement income. The minimum monthly income for the applicant is six hundred dollars. Most of the applicants in this category are former government employees or retirees of the private sector with pensions or social security retirement benefits.

The second subcategory, exists as mentioned for those applicants who can prove they receive a fixed permanent income, not from a pension or retirement fund, but from investments. To this effect, the proof of the investment is essential. The applicant must provide a letter or communicate from the bank or financial institution where the investments funds are deposited by that certifies that the applicant will receive a minimum monthly stable income of one thousand US dollars for at least five years. One thing to keep in mind is that the funds that generate the monthly income do not necessarily have to be in Costa Rica. The proof of investment may come from international financial institutions or banks. It is also important to know that the financial institution must notify the Costa Rican Tourism Institute if any change occurs in the applicants financial situation.

Other requisites for both subcategories are to demonstrate on an annual basis, that the required funds were deposited in a bank of the Costa Rican banking system, private or public, and that the applicant resides in Costa Rica for a minimum of four months out of the year. These are the current main requisites that apply for the “Rentista” and “Pensionado” programs. If you think the amount of income is low, you are not alone.

The Costa Rican government is reviewing the program so that the minimum amounts of income are raised to meet the financial realities of today. In any case, this program offers a viable option for people to enjoy the benefits of having Costa Rican residency and indulge in all that Costa Rica has to offer.