Retirement in Costa Rica
To retire in Costa Rica might be a dream for many including yourself. This lovely paradise on earth truly shows quite a few advantages for those retirees looking for a peaceful place that can give you both relaxing places and adventure. The lifestyle of a Tico is certainly nice in comparison with many other countries. In Costa Rica, retirement is definitely not boring and you can have a fairly good life worth much less than the U.S or some European countries. In San Jose, prices are listed as the second lowest in America; it ranks 14% less than some mayor cities in Central America. Retirement in Costa Rica has two legal statuses: The pensionado (retired) status where you must receive a minimum of $600 a month and the rentista status that requires you to earn a minimum of $1000 a month for at least five years. Both cards are due to be renewed every two years. To start a business you will not be taxed on income earned out of the country. To be hired in any company you must apply for a different permit than the listed above. Housing is a lot less than it is in the United States, utilities costs is about 30% less than in North America and hired help costs approximately $10 a day. Rent prices are between $500 and $1000 on nice suburbs and upper class neighborhoods. Public transportation is incredibly cheap: buses costs less than $0.50 across the capitol and cab fare will do the same route for less than $10 as well as buses to other provinces. Keep in mind event though gasoline seems to be getting more expensive in Costa Rica, it is still cheaper than most of the countries.
A new car comes with high import duties; Costa Ricans tend to purchase a used car and keep them in good care for a long time, you can do the same and save some extra bucks. Health care is very affordable and medicine in Costa Rica is rated among the highest in Latin America, even cosmetic surgery is one of the best nowadays. All in all you can live a pretty decent standard of living with $900 to $1200 a month per person. This includes transportation to nearby areas, groceries, health care, utilities and services and a fair rent. Keep in mind that the average Tico lives with a range of $400 to $600 a month. When you retire, Costa Rica could be the perfect place for you to invest in property, a place you can call your own. Properties have great pricing and the locations are not only beautiful but safe and entertaining. Contact our real estate brokers and browse through our real estate listings; you might be surprised with some interesting findings. Investment opportunities have become very popular in Costa Rica. Retirement community is quite a new trend and people seem to be embracing it nicely. Any business that backs up the economical and political situation of the country such as agriculture, flowers, tourism and real estate have many perks given by the government to assure their success.
- • Costa Rica has amazingly rich culture and along with the natural treasures known all over the world, you can always enjoy nice shows, concerts, plays and fine international cuisine restaurants.
• Crime rate is very low. We invite you to check on our safety guide for further information on the subject.
• Costa Rica has exactly the same services as the U.S: cable and Direct TV, two English newspapers and most of the utilities people are used to in high developed countries.
If you have decided to be a part of the Costa Rica retirement community all you need is to fill the legal requirements:
- 1. Having been living in the country for at least 4 months.
2. Proceed delivering the following documentation to the Costa Rican Consular office or directly with the Pensionado/Rentista Section of the Department of Immigration in San Jose: Birth Certificate, Marriage Certificate, Police Certificate of Good Conduct (all of these must be a certified for authentication), Proof of Income obtained from your government Interpol Background Check (done by the Costa Rica at the Ministry of Public Security), photographs of yourself during the stages of the process, probably 10 facing front and 5 facing sideways.
3. A translation to Spanish all of your complied documentation with a Sworn Statement before a Costa Rican Notary Public stating the agreement to abide by the Pensionado/Rentista law.
4. After all the processes have been approved; you must personally appear and sign for the card before the Immigration Officer at the Department of Immigration.