Regulations to law No. 9996 for the attraction of investors, resident annuitants and resident pensioners was published in Costa Rica

On Thursday, February 23rd, 2023, was published in the national newspaper “La Gaceta” the regulation to Law No. 9996 for the Attraction of Investors, Resident Annuitants and Pensioned Residents.

Within which the following modifications are established:

  • The foreign person who makes an investment in Costa Rica, for an amount not less than US$150 000, 00 may opt for the migratory subcategory of Investor.
  • The type of investments allowed to qualify as investors are real estate or registrable and not in the name of legal persons, shares, securities, projects of national interest or productive projects, venture capital fund, sustainable infrastructure projects.
  • It is explicitly established that real estate or registrable investments must be registered in a personal capacity, and those registered in the name of legal entities will not be accepted.
  • Documentation requirements for the first time and renewal for those foreigners who are granted the subcategory of investor.
  • The foreigners who are granted temporary residence as investors, as well as their dependents, may not perform any paid manual or intellectual labor.
  • Investors, resident pensioners, or resident annuitants, may enjoy tax incentives, for which they may import household goods, vehicles, and exemption in the tax on transfer of goods of up to 20%.

Investors, annuitants or pensioners will be able to opt for the above mentioned benefits only during the first 5 years the law is in force.

See official publication in the following link.