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$60,000 deposit for Rentista Visa

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dckinder
3/25/2015 11:57 EST

Apparently if I deposit $60,000 in a Costa Rican bank ( and otherwise qualify ), I can get a rentista residence.

This $60,000 is equal to the sum total of $2,500 / month minimum income for two years, which I otherwise would have to demonstrate.

Let us suppose I deposit the $60,000 and obtain rentista residence. Can I thereupon withdraw the $60,000?

In particular, my reasons for considering moving to Costa Rica are that I am on the ACA because of pre-existing medical conditions. Should the Supreme Court gut the ACA, then I would need otherwise to have access to medical care.

One apparent option would be to move to Costa Rica for a few years until I qualify for Medicare. Yes, I know about Costa Rica's socialized program.

But a nice little $60,000 war chest to meet unexpected serious conditions for private care would fit in nicely in this overall arrangement.

Also, does Costa Rica have something like FDIC?

Physio1
3/26/2015 21:24 EST

Thanks Kohl for the CR law link & clarification.

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Kohl
3/26/2015 15:26 EST

Since you can't apply for PR until the beginning of the fourth year, and it usually takes a year, the CD will probably be near expiry, and if it takes longer, and it is time for your TR to be renewed, you must do that....even if there are no funds left to transfer into your account. At least that is what we had to do.

shermanwc
3/26/2015 13:33 EST

Physio1, you are correct that a Rentista resident can apply for Permanent Residency after the third year - but they still need to renew their residency for 2 additional years after the first 2 years.

I've never heard of anyone depositing money yearly (and it would need to be $30,000 per year to cover the $2500 per month requirement). I was only given the option to deposit the full $60,000.

But I have another question for others that have obtained Permanent Residency: once you have Permanent Residency, can you close your CD account or do you need to maintain it until the end of the two years?

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