Costa Rica Made Changes To Immigration Law

Costa Rican President Carlos Alvarado Quesada signed amendments to the 9996 Immigration Law. In the amended version of the law, the minimum requirements for capital investment and retirees have become lower.

Currently, the minimum investment amount is US$150,000 (shares, property, venture capital, tourism infrastructure, other productive shares or projects).

The amendment also includes tax breaks for foreign national investors, renters and retirees with temporary residence status in Costa Rica. Tax breaks include reduced rates on importing vehicles, household goods, property transfer taxes, and more.

The process for considering applications was revised separately. A special department will be created for applications for temporary residence, which will process such applications faster.

The country decided to take such measures to increase foreign investment, which will help to get out after the pandemic and stimulate economic activity.

Costa Rica is not the only country to offer a citizenship by investment program. For example, Saint Kitts and Nevis is a country that invites foreign investors to donate to a government fund or buy real estate and receive citizenship and a passport in return. This is a limited time offer now!

- a family of 4 US$ 150k

- main applicant + spouse: US$ 150k 

- additional contribution for each dependent US$ 10k

Dependent unmarried childless brother/sister <30 yo of the MA US$ 20k

Offer only applies to citizenship acquisition through investment in the Sustainable Growth Fund.


Source: mondaq

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