www.CostaRicaTicas.com

So what is the deal now, how much needs to put in bank so a person can apply for visa.. it was 5years times $1000 per month.. now what is it?/
thanks i know i could look all over internet and get an answer but you expats seem to know easier and sooner.. retirement age.

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I know nothing, nothing!

It is still the same until the new law takes effect which will most likely be late February or sometime in March. Then it will be $2,500.00 per month ( a one time deposit of $150,000.00 to cover five years) or a lifetime guaranteed pension of a least $1000.00 per month.

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Pura Vida
Only Irish coffee provides in a single glass all four
essential food groups:
alcohol, caffeine, sugar and fat.
Alex Levine

What does that pension allow ID?

Residency? Not having to leave every 90 days?

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The Most Interesting Man in the World
"Stay thirsty my friends"

It allows you to make application for Pensión Residente (Resident Pensioner). Once Immigration accepts your application and issues a file number you are not required to exit the country every 90 days and renew your tourist visa. When your application is approved and you are granted residency can not work and you must exchange $7200.00/year ($12000.00 when the new law becomes effective) to colones. After 3 years you can apply for permanent residency. When that is granted you do not have to exchange money and you can work

_________________
Pura Vida
Only Irish coffee provides in a single glass all four
essential food groups:
alcohol, caffeine, sugar and fat.
Alex Levine

i think that the $150,000 in the costa rica bank just took them off the list of countries for me to retire to..guarantee of pension of $1000 per month wouldn't that be $60,000 in a costa rica bank?? just asking but 60 months x $1000 equals 60000? que no?

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I know nothing, nothing!

Two different types of residency. Pensionado requires a guaranteed life time pension of $1000* per month. Once granted residency you must exchange $12,000 a year into colones.

Rentista residency requires a deposit of $150,000* (does not have to be in a CR bank) with a withdrawal of $2500 per month for 60 months.

* all figures predicated on the new law predicted to become effective late February early March 2010. Current law requires lesser amounts.

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Pura Vida
Only Irish coffee provides in a single glass all four
essential food groups:
alcohol, caffeine, sugar and fat.
Alex Levine

now i get it do you know if under the pensionado can you sub with the monies in bank?? i know that it is all up in the air now but when you are counting the months instead of the years you know you go crazy about all the little things...

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I know nothing, nothing!

Pensionado as far as I know can only be with a guaranteed lifetime pension. However, I am not an attorney and they might know of ways around the strict interpretation of the laws. Best thing to do is have a consultation with a couple of attorneys who specialize in Immigration law.

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Pura Vida
Only Irish coffee provides in a single glass all four
essential food groups:
alcohol, caffeine, sugar and fat.
Alex Levine

Excellent advice about consulting an attorney--you sure don't want to get hung up with your future planned here. Here's a question--You have to exchange $1000 a month into colones but then can't you change it back into dollars? In other words, exchange the money, not deposit it?

If you re committed to moving here you might well consider attending one of the ARCR monthly 2-day seminars just to hear what they have to say.
www.arcr.net

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"A man accustomed to hear only the echo of his own sentiments, soon bars all the common avenues of delight, and has no part in the general gratification of mankind"--Dr. Johnson
"Amen, brother"-ED

yes, that group is good for info...i remember a one day seminar, think they even threw in lunch...interesting speakers and attendees.

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(export version only, some restrictions may apply, some assembly required, not valid where the sun don't shine...

if you live in the states of Poverty, Darkness or anywhere outside of The Blessings of Civilization Trust, Inc...other rules may apply)

Nothing to prohibit you from doing that. The question is why would you? Living here means your primary currency for expenditures is colones so you are going to need them. Why pay a commission on two exchange transactions?

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Pura Vida
Only Irish coffee provides in a single glass all four
essential food groups:
alcohol, caffeine, sugar and fat.
Alex Levine

I take your point Brother ID--I was merely enquiring about the legality.

_________________
"A man accustomed to hear only the echo of his own sentiments, soon bars all the common avenues of delight, and has no part in the general gratification of mankind"--Dr. Johnson
"Amen, brother"-ED