Work in Costa Rica

To just 'put money in the bank' $60k, twice, would be to apply as a Rentista. Applying as an Investor means you must invest at least $200K, and hope what you have purchased, get the approval required.
And yes, in either case, you cannot legally perform any physical work...for more like 4 years.
Although I don't know what an 'Asian designer' designs, maybe you could continue to work online.

kohlerias wrote:

To just 'put money in the bank' $60k, twice, would be to apply as a Rentista. Applying as an Investor means you must invest at least $200K, and hope what you have purchased, get the approval required.
And yes, in either case, you cannot legally perform any physical work...for more like 4 years.
Although I don't know what an 'Asian designer' designs, maybe you could continue to work online.

Ya I heard i need to keep in Bank $60k. And i also heard you need to take out $2500 each month for 2 years to be eligible...

But is it safe living there?? so we can not work leagaly there if we are on this bank investment??

If you only 'work online' it is legal.
The bank will automatically transfer the $2500 for your living expenses, which is more than enough unless you want to live a luxurious lifestyle, but you do not need to spend it all! Two years later, you must deposit a further $60K but at the start of the third year, you can apply for Permanent residency which will take another year ...and then you can work.
You will have to perform your own research to find a safe area that also fits your needs.

Under the investor category, you could also gain residency by purchasing a home for at least $200K. I don't suggest you do this at least until you have lived in the area for a while and make you like it.... but you still can't work

ODAN wrote:

kohlerias wrote:

To just 'put money in the bank' $60k, twice, would be to apply as a Rentista. Applying as an Investor means you must invest at least $200K, and hope what you have purchased, get the approval required.
And yes, in either case, you cannot legally perform any physical work...for more like 4 years.
Although I don't know what an 'Asian designer' designs, maybe you could continue to work online.

Ya I heard i need to keep in Bank $60k. And i also heard you need to take out $2500 each month for 2 years to be eligible...

But is it safe living there?? so we can not work leagaly there if we are on this bank investment??

Suggest you check out the Association of Residents of Costa Rica or ARCR for the exact info you need and don't just choose an attorney to handle it willy-nilly, look for solid recommendations from people who've had good success with that particular attorney for that particular type of residency.

I am currently in process of applying for a cedula (residency) and working with a lawyer in Escazu that I am very happy with.  It is not true that you have to KEEP $60K in a bank.  You only have to deposit $2500/month in a COSTA RICA bank for a period of two years.  When that initial two years has passed you must again apply for a two year extension and you must bring documentation from your CR bank that you have indeed been depositing $2500/mo. After THREE years you can apply for permanent residency but you DO NOT have to provide evidence that you have been depositing the requisite $2500/mo.  Once you receive your permanent residency, you are no longer obligated to make the monthly deposit.

The tricky part is having a financial institution issue you a document that says said financial institution will deposit $2500/mo - and this is the tricky part - "in a PERMANENT and STABLE manner" for two years.  The words "PERMANENT and STABLE manner" are very important and you will find that most financial institutions will struggle with that wording. 

If you are looking to work right away you might want to consider Panama as I have heard they do not have the restrictions on immigrants working in their country as most of the other Central and South American countries do.

Good luck!!!

KipLarsen wrote:

I am currently in process of applying for a cedula (residency) and working with a lawyer in Escazu that I am very happy with.  It is not true that you have to KEEP $60K in a bank.  You only have to deposit $2500/month in a COSTA RICA bank for a period of two years.  When that initial two years has passed you must again apply for a two year extension and you must bring documentation from your CR bank that you have indeed been depositing $2500/mo. After THREE years you can apply for permanent residency but you DO NOT have to provide evidence that you have been depositing the requisite $2500/mo.  Once you receive your permanent residency, you are no longer obligated to make the monthly deposit.

The tricky part is having a financial institution issue you a document that says said financial institution will deposit $2500/mo - and this is the tricky part - "in a PERMANENT and STABLE manner" for two years.  The words "PERMANENT and STABLE manner" are very important and you will find that most financial institutions will struggle with that wording. 

If you are looking to work right away you might want to consider Panama as I have heard they do not have the restrictions on immigrants working in their country as most of the other Central and South American countries do.

Good luck!!!

If we do not need to show 60K$ and we need to show that $2500/month is coming to Costa rica bank from outside of Costa rica?? like if we in cash this amount and next month again deposit? or you have to take a stateent from a Bank outside Costa rica stating you will monthly take money out of Bank $2500.... and then it will go to your costa rica bank? And the path should be money coming from your outside country bank or institution or you can cash ur money and again submit in the bank??

It is very difficult to get a bank or financial institution to agree to write the terms required by Immigration.

As a Rentista you must provide proof from your bank, that you have exchanged the $2500 per month, into colones, when you go in to renew your cedula,which will occur three times, under the new regulations.

KipLarsen, I think you have misunderstood what your lawyer has told you. You cannot just deposit $2500 in your bank every month and use this to apply for Residency.
$60k  does not need to be in a bank in Costa Rica, but in a International Bank or financial institution that meets with and is approved by the Costa Rican banking officials.
Providing a written guarantee that your funds will continue to meet this requirement, is very hard to obtain.
The $2500 is automatically transferred to you account, each month. You are not required to spend all of this money, but you must show that you have exchanged it, into colones when you renew your cedula, as the other poster mentioned.

Still in Costa Rica?

I hope you realize this is a 6-year-old thread.