Bookie wrote:
Unless my information is out of date, a $60,000 deposit in a CR approved institution will serve if you don't qualify for pensionado status or have $2400/month provable income.
Has anybody ever gone this route? I'm curious to know if the deposit can be in dollars, and if you draw any interest on it.
Also any other "gotchas" or fine print that I might want to consider.
That is
rentista status. From when I researched it in 2018.
1. You have to actually take draws of $2500 each month and show your withdrawl receipts. (Crazy, but that was the rule, you can turn around and re-deposit the money if you like. The rationale is that you are using the funds to pay rent and living expenses.)
2. Deposit can be in dollars or colones and can be in an interest bearing account.
3. Your CAJA payment will be based on $2500 each month. So depending on how the new regs are implemented, either 10% or 18%.($250 or $450)
4. At the end of 2 years, you have to renew your residency and show a refreshed balance of $60,000. You have to do this each time you renew.
I was able to show a lifetime guaranteed income of $1,000 per month, so I filed as a pensionado and my CAJA is around $100 per month.