Retire to Costa Rica

If you want to retire to Costa Rica, you have two options: apply for ordinary residency or go for the special retirement (pensionado) visa, which is part of the residency by investment program. Each of them has its own advantages and the decision can be made based on the Costa Rican retirement requirements and costs.

Below, our immigration lawyers in Costa Rica explain in detail both options. They can help you apply for residence permits as retirees, as well as offer some tips on the best places to retire in Costa Rica.

The two options through which you can retire to Costa Rica

If you are planning your retirement and decide to move to Costa Rica, here are your two possibilities:

• apply for a regular residence permit for Costa Rica;
• enter the investors’ visa category, as one of its options was created for retirees, the above-mentioned pensionado visa.

Which are the countries you can retire to Costa Rica from? Here are some of the nations among which this variant is popular:

• Canadians retire to Costa Rica quite often according to our local specialists;
• there are also those who retire to Costa Rica from the UK;
• American retirees in Costa Rica are part of the picture thanks to the closeness of the two countries.

However, you can relocate here as a retiree from any corner of the world.

Costa Rica’s retirement requirements through ordinary residency

If you are interested in retiring to Costa Rica from the US or any other part of the world, you can definitely choose to apply for a regular temporary residence permit. Among the documents to prepare are:

• your valid passport;
• a valid health insurance;
• proof of address in Costa Rica (you can rent a place for this purpose);
• details on the reason for relocation;
• proof of sufficient funds to sustain your stay.

This option is quite flexible as it entails:

• no limit on the age;
• no minimum income threshold.

Also, you will not be limited to the activities you can undertake here. As such, if you want to open a company in Costa Rica, you can set up a small business to keep you active. You can rely on our company formation specialists in Costa Rica for registration.

However, you should expect the processing time for your residence permit to take about 6 months. With respect to its validity, it is of 2 years.

Costa Rican retirement costs through the investor visa

When it comes to investment, everyone expects it to generate certain costs. In the case of the Costa Rican golden visa for retirees, apart from processing fees, the cost is quite cheap to say so.

The condition to retire to Costa Rica through this program is that you need to have a minimum monthly income of USD 1,000. Its sources can be:

• retirement, of course;
• social security payments;
• business investment;
• annuities.

The advantage of the program is that the residence permit obtained this way has a 3-year validity. Following that, you can apply directly for permanent residency. With respect to Costa Rican citizenship, you need to live in the country for at least 7 years no matter the chosen retirement option.

Applications for residence permits must be made with the Immigration Department.

What is the best place to retire to Costa Rica?

No matter if you are a Canadian, or American or plan to retire to Costa Rica from the UK, here are a few tips on property prices and locations in which you can rent them:

• Alajuela, Atenas, and Cartago are 3 cities preferred by retirees in Costa Rica;
• the lowest rent in this country is about USD 400 – 500 for a one-bedroom apartment;
• for 3-bedroom properties, rent starts at around USD 1,200.

If you want to retire to Costa Rica, do not hesitate to contact us for details about the requirements and costs based on your residency choice.