About Golden Visa Law in Costa Rica
The Golden Visa in Costa Rica, formally known as the Investor Residency Program, is a legal mechanism designed to attract foreign investment and economic stimulus to the country. Under this law, expats and foreign nationals can obtain temporary residency in Costa Rica by making a qualifying investment in the local economy. Costa Rica’s program stands out among global Golden Visa options for its welcoming policies, affordable investment thresholds, and high quality of life. Successful applicants and their immediate family members earn the right to live, work, and eventually seek permanent residency or citizenship in Costa Rica.
Why You May Need a Lawyer
While Costa Rica’s Golden Visa process is renowned for its accessibility, the legal requirements, documentation, and investment regulations can be complex. Here are common situations when legal help is essential:
- Understanding current immigration and investment requirements.
- Assisting with due diligence on real estate purchases or business investments.
- Ensuring proper translation and authentication of foreign documents.
- Navigating application procedures at Costa Rican immigration offices.
- Handling any legal challenges or disputes regarding investment properties or businesses.
- Supporting renewals, family inclusion, and transitioning to permanent residency.
- Representing your interests in case of government changes to Golden Visa law.
Hiring a lawyer with local expertise helps avoid costly mistakes, streamlines the process, and ensures compliance with all applicable laws and regulations.
Local Laws Overview
Costa Rica’s Golden Visa program operates under the General Law of Immigration and Immigration Act. Here are key aspects you should be aware of:
- Minimum Investment: Applicants must invest at least $150,000 USD in qualifying assets. Accepted investment types include real estate, stocks, businesses, or national projects.
- Application Requirements: Documents needed typically include a valid passport, criminal record check from your home country, proof of income, and evidence of the qualifying investment.
- Residency Status: Approved individuals receive temporary residency valid for two years, with renewals possible as long as the investment is maintained.
- Family Inclusion: Spouses, children under 25, and dependents with disabilities can be included in the primary applicant’s residency application.
- Physical Presence: No strict minimum stay is required, but maintaining ties to Costa Rica strengthens future permanent residency or citizenship bids.
- Permitted Activities: Holders can live, study, and work in their own businesses but may not be employed by others unless specific work permits are obtained.
- Pathway to Citizenship: After three years of continuous residency, applicants may apply for permanent residency and, later, citizenship subject to requirements.
Regulations and requirements can change. Working with a legal professional keeps you informed of the latest updates.
Frequently Asked Questions
What is the minimum investment required for the Golden Visa in Costa Rica?
The minimum qualifying investment is $150,000 USD, which can be in real estate, stocks, Costa Rican company shares, or national projects.
Can I bring my family with me under the Golden Visa?
Yes, spouses, children under 25, and dependent relatives with disabilities can be included in the application.
Do I need to live in Costa Rica full-time to keep my residency?
There is no strict requirement to stay in Costa Rica full-time, but maintaining some physical presence and connections is recommended.
Will I be able to work in Costa Rica with a Golden Visa?
Golden Visa holders can operate their own business but may not be employed by someone else unless they apply for an additional work permit.
Is the Golden Visa a path to Costa Rican citizenship?
Yes, after three years of being a temporary resident, you can apply for permanent residency. Citizenship may be obtained later, subject to further requirements.
What types of investments qualify for the Golden Visa?
Qualifying investments include real estate, government-approved projects, stocks or shares in Costa Rican companies, and certain business ventures.
How long does the application process take?
The process typically takes between six and twelve months, depending on documentation, background checks, and investment verification.
Are there any restrictions on selling the investment after I receive residency?
You must maintain the qualifying investment for the duration of your temporary residency period. Selling the asset may result in loss of residency status.
What documents do I need for the application?
You will need a valid passport, criminal record check, proof of investment, proof of income or savings, completed application forms, and other documents as specified.
Can lawyers represent me if I am not in Costa Rica during the application?
Yes, with a properly executed power of attorney, a licensed Costa Rican lawyer can represent you throughout the process and handle official matters on your behalf.
Additional Resources
Several organizations and governmental bodies can provide valuable information about Costa Rica’s Golden Visa:
- Dirección General de Migración y Extranjería (Immigration Department): Official body managing immigration and residency processes.
- Ministerio de Relaciones Exteriores (Ministry of Foreign Affairs): Guidance on documentation and foreign investment.
- Coalición Costarricense de Iniciativas de Desarrollo (CINDE): Support for investors in Costa Rica.
- Costa Rica Bar Association: To find accredited immigration and real estate lawyers.
- Real Estate Regulatory Authorities: For verifying legitimacy of investment properties.
Next Steps
If you are considering a Golden Visa in Costa Rica, follow these steps to ensure a smooth experience:
- Assess your eligibility and prepare the necessary qualifying investment.
- Gather supporting documents, including police records and financial statements.
- Consult with an experienced local lawyer specializing in immigration and investment law.
- Have your lawyer review your investment for compliance and conduct due diligence.
- Authorize your lawyer to represent you if you are outside Costa Rica, using a power of attorney.
- Submit your application through appropriate immigration channels, ensuring all requirements are met.
- Stay informed of law changes that may affect your residency status.
Working with professional legal counsel significantly increases your chances of a successful Golden Visa application in Costa Rica and provides peace of mind throughout the process.
Lawzana helps you find the best lawyers and law firms in Costa Rica through a curated and pre-screened list of qualified legal professionals. Our platform offers rankings and detailed profiles of attorneys and law firms, allowing you to compare based on practice areas, including Golden Visa, experience, and client feedback.
Each profile includes a description of the firm's areas of practice, client reviews, team members and partners, year of establishment, spoken languages, office locations, contact information, social media presence, and any published articles or resources. Most firms on our platform speak English and are experienced in both local and international legal matters.
Get a quote from top-rated law firms in Costa Rica - quickly, securely, and without unnecessary hassle.
Disclaimer:
The information provided on this page is for general informational purposes only and does not constitute legal advice. While we strive to ensure the accuracy and relevance of the content, legal information may change over time, and interpretations of the law can vary. You should always consult with a qualified legal professional for advice specific to your situation.
We disclaim all liability for actions taken or not taken based on the content of this page. If you believe any information is incorrect or outdated, please
contact us, and we will review and update it where appropriate.
