SIGN UP FOR OUR 
“All homeowners are investors at heart” is an expression often heard in certain real estate circles, and in Costa Rica this is something that extends to the process of legal immigration.
In general, foreigners and their immediate family (spouse, parents and children) can apply for residency if the applicant has investments worth USD $200,000 in Costa Rica. The types of investment should be in specific sectors such as: tourism, reforestation, shares in an active domestic corporation, commercial and residential properties, or any other activity supported by the Costa Rican government.
Before we focus on real estate investments, it is important to note that foreign investors who qualify for residency are given a temporary residency and they are allowed to work in Costa Rica in their own business. After three years of temporary residency, foreigners and their families can apply for permanent residency with no restrictions, in which case they are allowed to work anywhere in our country.
Now we can focus on residential properties as investments.
Many people think that in order to apply for residency as an investor in Costa Rica they have to be business giants; this is not the case. Purchasing land or a home in Costa Rica can be considered an investment if the property is worth $200K or more.
The acquisition of real estate in Costa Rica can be made in the name of the investor or under a corporation. In the case of the latter, a law firm just has to prove that the investor owns the shares of the corporation that holds title to the property.
It is important to note that the property can be an owner-occupied dwelling, which means that it does not have to be a vacation home deriving rental income. You and your family can live in a nice house in Costa Rica that will facilitate your immigration status as investors.
The potential investor has several options:
- Buy land with or without a house already built for $200K.
- Buy several apartments or condo units that all add up to $200K.
- Buy a land worth less than $200K, but build a home within so that the land and the construction add up to $200K.
Costa Rica has a wide range of pricing options. For example, an investor can buy two single-family homes in the suburbs of the Central Valley for $100K each; move into one and rent the other. Investors who wish to live in the many beach towns that make up the Gold Coast will have no problems finding a modern home worth $200K in communities such as Bellazo in Nosara. In general, if you sell a home in the United States and get $200K at closing, you will be able to purchase a much nicer property in Costa Rica with the proceeds.
It is important to note that you can become an absentee landlord without having to stay in Costa Rica the entire year; the permanence requirements are not so stringent as they are in other nations. Other countries demand much higher investments for the purpose of becoming a resident, and they don’t even count residential property acquisitions as investments.
While it is true that some Caribbean and European nations offer certain levels of economic residency and even citizenship for a hefty sum, Costa Rica offers more affordable and reasonable options. The fact that you can be considered an investor by simply buying a home for you and your family to enjoy speaks volumes about how flexible our immigration system can be.
One more thing to consider is the current state of the real estate market in Costa Rica, which is quickly appreciating. A few years ago, you would have had to purchase several properties to reach the $200K threshold for residency. Property demand by foreign home buyers has driven values upward, and thus there are now many $200K properties to be found. This is a trend that is expected to continue.
