Benefits of Obtaining a Costa Rican Residency

9 Incredible Benefits of Costa Rica Residency

Want to learn more about the benefits of Costa Rica residency so that you can live in one of the happiest, most beautiful countries in the world?

Costa Rica is renowned for its stunning natural beauty, warm climate, abundant wildlife, and affordable cost of living—offering a lifestyle that’s both relaxing and fulfilling. With affordable healthcare and numerous opportunities to start and grow your business, the appeal of Costa Rica residency is undeniable.

If you’re already acquainted with these advantages, it’s clear why you’re considering making this beautiful country your home. For those of you exploring the possibility of Costa Rica permanent residency, having questions is perfectly normal—and we’re here to provide the answers. Though we may be partial (after all, Costa Rica is our beloved home), we firmly believe that it stands as one of the finest places globally to settle down.

Let’s dive into the top benefits of Costa Rica residency:

9 benefits of Costa Rica residency

Some of its main benefits of Costa Rica permanent residency include:

• Peaceful, democratic, and politically stable country. Yes, we have no army!
• Low tax jurisdiction in comparison with many other countries that offer the same quality of life.
• Warm climate all year long.
• Territorial tax system, which makes it convenient for expats.
• High quality of life with access to education and medical care.
• Eligibility for Costa Rica permanent residency in a short period of time.
• Easy process to become a resident when guided by good counsel.
• Even though the process to become a Costa Rica resident can take time, you can stay in the country while you’re waiting for approval.
• Healthy, accessible food that will change your quality of life.

In addition to the general benefits of Costa Rica residency, the recent Law to Attract Investors to Costa Rica (Law No. 9996) has reduced the minimum investment requirement for foreign investors seeking Costa Rica residency to USD $150,000.

Furthermore, this new law offers tax incentives not only to investors but also to pensionados (retired individuals) and rentistas (people with a fixed income), including:

• One-time import tax exemption for household items, which include both new and used items that are reasonable in nature and quantity, adequately meeting the needs of the law’s beneficiary and their immediate family. This encompasses, among others, home furniture, appliances, home decor items, kitchen and bathroom utensils, and bedding.
• Exemption for up to two vehicles—land, air, and/or sea transport vehicles—for personal or family use from all import, excise, and value-added taxes.
• Exemption from income taxes on any income declared to qualify for the benefits of this new law. However, income generated from local investments within Costa Rica will be subject to income tax.
• A 20% exemption on the total transfer tax for real estate acquisitions.
• Exemption from import taxes on instruments or materials intended for professional or scientific use.

In another blog post, we’ll explore how to secure the benefits described above for Costa Rican residents, detailing the necessary requirements for application eligibility and acceptance, as well as the process required by the Immigration, Tax, and Customs agencies.

If you have questions about how to get Costa Rica residency or Costa Rica residency laws, don’t hesitate to get in touch!

For more information, please fill out the courtesy e-meeting form at the bottom. We’d love to support you on your journey in Costa Rica!