Home Costa Rica Forum Costa Rica Guide Moving to Costa Rica Real Estate Healthcare in Costa Rica
Costa Rica
Resources
City Guides
JoinSign In
Cigna International Health Insurance

Costa Rica Visa & Residency > Costa Rica Immigration FAQ > Where do expats deposit the USD $60,000 required for the Rentista Residency? Do those banks provide the required letter?

Where do expats deposit the USD $60,000 required for the Rentista Residency? Do those banks provide the required letter?

By Betsy Burlingame

Last updated on: Feb 05, 2020

In a discussion on the Costa Rica forum about the $60k deposit for the Rentista Residency, one expat in Costa Rica asked, "We are in the process of applying for our Rentista Residency for Costa Rica. We are working with an attorney in San Jose, CR. The attorney tells us that we need to deposit $60K into a Bank Account either in CR or the US and the bank must provide a letter to CR immigration with the exact required wording. The problem is that NO US bank will sign the letter required due to US laws that don't allow US banks to act as guarantors of the $60K. So our attorney tells us that we can set up a trust with them and they can provide the letter or we can go to a bank in CR to get the exact letter that immigration requires. We do not want to set up a trust with the attorney and many people on this site have advised against doing so. So the question is which banks in CR will provide the required letter with the exact wording necessary for immigration where it will be safe to open a bank account and deposit our US $60K required for Rentista Residency? We are not yet residents of CR, but are in the process of applying for Rentistas Residency. Any guidance or advice from those who have successfully achieved residency through the Rentista category would be greatly appreciated."

One member replied, "You have to set up a trust with the attorney. There is risk in everything I suppose, but we had to do that for our Rentista application. We used Outlier Legal, who many on this blog trust. Outlier Legal is now working on a complete investment arm for these types of accounts since there are so many, which would allow for some actual returns on our 'investment.'" Another expat added, "Please be aware that a second US$60,000 will be needed to be deposited, 2 years later for Rentista residency."

One expat offered this helpful list. He said: So the steps are:

  1. 1. Get a bank letter from your home country, yes, it must be with that exact wording
  2. 2. Open a bank account in CR
  3. 3. Get your first cedula
  4. 4. Transfer 60k in 2.5k monthly transfers
  5. 5. Renew your temporary cedula
  6. 6. Apply for permanent cedula

Expats in Costa Rica may get a free expat health insurance quote from our partner Allianz Care, whose plans ensure that you have access to quality healthcare whenever you need it. Allianz's flexible solutions allow you to tailor your cover to meet your needs and budget. Get a Quote

Expats in Costa Rica may get a free expat health insurance quote from our partner Allianz Care, a leader in international insurance for expatriates. Allianz's plans ensure that you have access to quality healthcare whenever you need it. Their flexible solutions allow you to tailor your cover to meet your needs and budget..

Join our Costa Rica Expat Forum

Visit our Costa Rica Forum and talk with other expats who can offer you insight and tips about living in Costa Rica.

Read Next

10-Tips-for-Living-in-Costa-Rica10 Tips for Living in Costa Rica

Should you wear jeans and a t-shirt in San Jose? Did you know that one place may have twice the rain and be windy compared to another place 10km away? Read our 10 Tips for Living in Costa Rica for insights from expats who have been there and done that.

Best-Places-to-Live-in-Costa-Rica7 Best Places to Live in Costa Rica

Costa Rica is a relatively safe, eco-friendly, expat-friendly destination with gorgeous beaches and friendly locals. Many expats say that housing and food prices in Costa Rica are high. We've gathered information submitted by expats about Tamarindo, Dominical, Ojochal, Atenas, Escazu, Grecia and others popular towns.

5-Tips-For-Living-in-San-Jose,-Costa-Rica5 Tips For Living in San Jose, Costa Rica

The majority of expats in San Jose, actually choose to live not in the city, but outside of it. There are great options in the surrounding area, including places that are closer to the coast than San Jose.

8-Things-to-Know-Before-Moving-to-Costa-RicaMoving to Costa Rica: 8 Things to Know Before Moving to Costa Rica

Moving to Costa Rica has become more popular among expats. Making this choice requires a lot of research to ensure the expat experience you hope for will be realized. Expats that live there stress that it should start with a trip there before any major decisions are made.

About the Author

Betsy Burlingame Betsy Burlingame is the Founder of Expat Exchange. She launched Expat Exchange in 1997 as her Master's thesis project at NYU. Some of Betsy's more popular articles include 6 Best Places to Live in Costa Rica, 12 Things to Know Before Moving to The Dominican Republic and 7 Tips for Obtaining Residence in Italy. Betsy loves to travel and spend time with her family. Connect with Betsy on LinkedIn.

Cigna International Health Insurance

Write a Comment about this Article

Sign In to post a comment.
addacomment

Updated On: Feb 05, 2020

First Published: Feb 05, 2020

Cigna Expat Health InsuranceExpatriate Health Insurance

Get a quote for expat health insurance in Costa Rica from our partner, Cigna Global Health.
Get a Quote

Costa-Rica-ResidencyCosta Rica Residency

Applying for residency in Costa Rica can be a daunting process. Which type of residency is right for me? Do I need an attorney? Do I have to leave the country every 90 days? What is a cedula? This article answers these and many other questions.

Applying for residency in Costa Rica can be a daunting process. Which type of residency is right for me? Do I need an attorney? Do I have to leave the country every 90 days? What is a cedula? This...

8-Things-to-Know-Before-Moving-to-Costa-RicaMoving to Costa Rica: 8 Things to Know Before Moving to Costa Rica

Moving to Costa Rica has become more popular among expats. Making this choice requires a lot of research to ensure the expat experience you hope for will be realized. Expats that live there stress that it should start with a trip there before any major decisions are made.

Moving to Costa Rica has become more popular among expats. Making this choice requires a lot of research to ensure the expat experience you hope for will be realized. Expats that live there stress t...

Costa-Rica-vs-PanamaCost of Living: Costa Rica vs. Panama

People considering a move to Central America often narrow down their list to Panama and Costa Rica. Expats talk about the cost of living in Panama and Costa Rica - housing costs, gas, car, electric, internet, groceries, budgets for various lifestyles and more.

People considering a move to Central America often narrow down their list to Panama and Costa Rica. Expats talk about the cost of living in Panama and Costa Rica - housing costs, gas, car, electric, ...

Moving-To-Costa-RicaExpats Talk about What it's Like Moving to Costa Rica

Already living abroad? Write a report about moving overseas to help people preparing to move abroad.

13-Best-Places-for-Families-to-Live-in-Costa-Rica13 Best Places for Families to Live in Costa Rica

Expats in Costa Rica talk about the best places for families to live in Costa Rica. From the cool climate of the Central Valley to the beautiful beach towns in Gaunacaste and Costa Ballena, proximity to international and bilingual schools, safety and lifestyle are all taken into consideration.

Expats in Costa Rica talk about the best places for families to live in Costa Rica. From the cool climate of the Central Valley to the beautiful beach towns in Gaunacaste and Costa Ballena, proximity...

Best-Places-to-Live-in-Costa-Rica7 Best Places to Live in Costa Rica

Costa Rica is a relatively safe, eco-friendly, expat-friendly destination with gorgeous beaches and friendly locals. Many expats say that housing and food prices in Costa Rica are high. We've gathered information submitted by expats about Tamarindo, Dominical, Ojochal, Atenas, Escazu, Grecia and others popular towns.

Costa Rica is a relatively safe, eco-friendly, expat-friendly destination with gorgeous beaches and friendly locals. Many expats say that housing and food prices in Costa Rica are high. We've gathere...

Costa Rica Guide
Other Links
Our Story Our Team Contact Us Submit an Article Advertising Travel Warnings

Copyright 1997-2020 Burlingame Interactive, Inc.

Privacy Policy Legal