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Do you want to understand the details to become a resident of Costa Rica? Then, this post is for you.

Becoming a Costa Rica resident is a simple and straightforward process. The requirements are different depending whether you are a retiree living on pension or other income sources or seeking permanent residency. Requirements are also different for those with business interests.

For those who are retired living on government or private pension or social security retirement benefits, you will be required a proof of monthly income of US$1000 or more. This should be a permanent source of income. This category is called Pensionado.

For the Rentista or those living on investment income, you will need a proof of US $2500 per month income for at least five years. This must be guaranteed by a banking institution. Another option would be to choose to deposit a minimum of US$ 150,000 in an approved Costa Rican bank.

Both Pensionado and Rentista are required to remain in the country for a minimum of at least four months every year. He can claim a spouse and dependents under 18 years of age but he cannot work as an employee, Nevertheless, he can own a company and receive dividends.

To become a resident for business or for other purposes, please check out this information:

How to Become a Costa Rica Resident Part 2