Investors, Rentiers and Pensioners Attraction Law

Costa Rica passed legislation to place the country as a top destination with favorable residency and tax conditions to attract investors, rentiers and pensioners. Among the benefits that the law grants are:

1. Import tax exemption for household goods and
2. Import tax exemption for the rents, investments, and pensions that are object of a residency application under this
3. 20% transfer tax deduction of real estate purchases made by a beneficiary of this
4. Import tax exemption of the equipment and materials for the professional practice of the

The law establishes a lower investment minimum of $150.000 to apply for an investor residency, whereas the former limit was $200.000.

Any person interested in applying for a residency with said benefits can do so in a term of five years starting July 2021.

If you would like advice on this subject, please contact Magnalex Abogados, Víctor José Mora, victor.j.mora@magnalexabogados.com.