Banking in Costa Rica

The Banco National just east of La Sabana park does a lot of rentista accounts and letters - ARCR uses them all the time.  They usually have someone who speaks English, as do most large banks in the central valley.  (No matter which bank, you would go to the plataforma / service desks, not the teller windows.)

I'm curious - if you are only planning on 6 months, why are you going for residency?  It usually takes at least that long just to get approved, plus several months of chasing documents before then. Have you seen the ARCR residency site? It lists the different residency options:
arcr.net/residency/comparecostaricaresidencies.html

Julie-
Thanks for the info on banking. It does in fact take nearly forever to get the residency permit. I have jumped through most of the hoops already in the states. The issue for me is that with the laws changing in March it seems going in and out every 90 days to renew the visa isn't as much of an option as in the past. Having my dog here and knowing I will be travelling in and out of the country while here I couldn't risk being told I couldn't re-enter. That aside if things don't pan out with the Peace Corps nomination I will be staying longer.
Thanks again for the info. It will come in handy.
Jody

Hi Jody.

I plan on relocating to CR this November, I noticed you mentioned the laws changing around the 90 tourist visa changing. Can you please tell me about that. I will also have my dog and don't want to get stuck anywhere. Thanks!

Seven

From what I gathered by working through my lawyer here and the consulate they are now fining people who stay over the 90 day limit and in some cases not letting people back into the country. I would recomend contacting the consulate in the states to get the details. It is quite different than it has been in the past in regard to getting residency and staying in the country.
Best of luck!
Jody

Hello
My name is Giovanna Barrantes.
Any of the National banks in Costa Rica would be the best choice.Your deposits are insured by the Govt.
You will have to be present in Costa Rica to open a bank account.
I advise all the clients to place the bank account under a SA Corp.
I will be more than glad to answer any questions regarding opening a bank account in Costa Rica.

Best Wishes

Lic Giovanna Bararntes
[moderated: kindly don't advertize for your activities here! thks]

Hi Giovanna - we had to have our bank account in our name, not in an SA, because it was for our residency. All the paperwork from the bank had to state that "we" not "our SA" had income, and converted the dollars to colones.  This was for rentista.  I (obviously) have no experience with investor or pensionado status requirements.
What is the advantage of having your bank account in an SA? Just thinking out loud - you would still have to report amounts of $10,000 to USA (if you are a citizen of USA), either way the national bank insures your money.  Your money causes no liability, so the SA doesn't protect you from the bank. You would still have to provide all the documentation to the bank so they can comply with the USA demands for information.  Seems to me an SA would make that look even more suspicious, and therefore cause greater scrutiny.
I'm all set up at my bank, so I'm only curious about this.
Julie

Tico Times just wrote a blog post about opening a bank account:
ticotimes.com/costa-rica/opening-personal-bank-account?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+TicoTimesDirectoryBlog+%28Tico+Times+Directory+Blog%29

FYI, Spanish lessons here in Costa Rica are inexpensive. I recommend intensive Spanish lessons. You can get things done here a lot quicker if you at least attempt to speak the language.

Hi! I need to find a good architect in Manual Antonio or Jaco.Planning to build a house.

Hello
My name is Giovanna Barrantes. I'm an Attorney in San Jose Costa Rica.
I have recommended Henry Hoffman in the past to a few of my clients.
Henry has taught architecture at a major college here in Costa Rica.
He has designed some very high end homes at the beaches as well.
I can sent you his porfolio if you like.

Henry Hoffman
011 506 8 336 9696
[email protected]