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Law to attract investors, pensioners and rentiers

By IDeas trademarks & patents - 25/11/2020
Law to attract investors, pensioners and rentiers

The Costa Rican Congress endorsed a bill to promote the country as a post-retirement destination by attracting retirees and foreign investors who can bring their incomes and inject them into the local economy.

The Minister of Coordination with the Productive Sector, André Garnier stated that the initiative -called Law to attract investors, pensioners and rentiers- “is about promoting foreign consumption and investment, and that these, in turn, are implemented to promote the local economy”. In the case of the pensioners, the law looks to establish new conditions for minimum income that would allow applying for residence in the country. In the case of investors also a new minimum amount will be set for investment from US$200,000 to US$150,000.

Unanimously, 11 deputies of the Tax Affairs Committee of the Legislative Assembly, endorsed the bill on November 17, 2020.

It is important to know that all people who wish to reside in Costa Rica must be properly insured; either through the Costa Rican Social Security Fund (CCSS) or that they bring their international insurance, and comply with all the laws of the country.  

By IDeas trademarks & patents - 25/11/2020
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