Income proof for inversionista temporary residency

I did not have to show any income to receive our temporary Inversionista Residency.  Rather I had to show our tax valuation of our property which at the time had to be over $200,000 USD.

Caja will be a crap shoot!!!  I know a couple who left Costa Rica because they were going to be charged ~ $700 USD per month.  Our original charge for Caja was 27,972 colones or $54.73 at todays exchange.  Ten years later it has risen to 31,055 colones or $60.76 USD at todays exchange.  When I first applied for Caja I had to produce an Income versus expenditure letter.  I completed said letter in Word and did not have to verify any incomes or expenses,  Upon renewing my Dimex I had to do the same thing at our Caja office.

BIG WORD OF WARNING - personal experiences will vary and will depend largely on your local Caja office.

TerrynViv's reply is a really great example of how each person's situation will be different... and for MANY reasons.

1st, note that his and his wife's 'original' was from 10 years ago... and has only risen incrementally (as it does for everybody).... but do know, that Caja 'costs' or charges for non citizens are much higher now, even on your first year.

2nd, another big change in Caja 'costs' is the mandatory monthly contribution to the CR Pension fund.  Most of us who landed here more than 5 years ago, could opt-out of that if we simply told the Caja person, when originally becoming a member, that we didn't NEED a Costa Rican Pension because we already collect benefits from a pension in our country of origination; or will collect once we become eligible.  THAT IS NO LONGER AN OPTION...  you will pay around $100/month (added to your Caja fees) and you can't start to receive benefits from the CR Pension fund until you have paid in for at least 10 years... or more if you are younger.   The CCSS never told people that they could opt out... it was something that was only an option for foreign residents; and you pretty much needed a lawyer to go there with you to help make that happen (which I did in 2019)... it was pretty much a 'word of mouth' thing.

3rd, One portion of your caja fees goes towards 'maternity' costs; whether you are of child bearing age or not. Everybody contributes.  Reason:  most kids are born to younger women and their partners who either don't pay into the caja at all, or, they have only been paying in for a few years.  Remember, young people don't think they 'need' healthcare until they Need healthcare.   In much of CR, beer, cigarettes, motorcycles, tattoos, and whatever are more important than being a 'voluntary' member of the Caja.  It used to be, as I would assume for TerynViv, that people could Opt-Out of that due to age.  It may still be possible, but harder to prove; especially for men unless you have a Doctor's letter or proof of vasectomy.

So...  the new 'original' fees are higher, and a person needs to be cautious about which 'income' they are declaring as per their choice of Residency.   

example:  If you are going to go for Pensionista...  and your SS Benefits letter states that you will receive $3,200/month...  your base Caja fee will be based on 10-14% of that; so immediately you are at $320/month minimum, before pension and other fees are added.  You would be better off declaring the guaranteed benefits from an annuity or other fund, that are only going to yield you $1,2000/month...  thus, your base fee will only be minimum $120 per month before other fees.  You are under no obligation to notify the CR government of any other 'income' besides that which you are declaring in order to fulfill the application requirements for your 'type' of Residency.  Keep the rest quiet.

I personally opted for the Rentista Residency type... I didn't want to buy a property for more than $250,000  (minimum inversionista investment at the time); as I had found a diamond in the rough for under $55K that I could renovate to my own liking.  For Rentista... I had to 'declare' a guaranteed monthly income of $2500 for my first 2 years (via a bank letter saying that I had $60K to cover that monthly income) and upon renewal of Residency at the end of those first 2 years, I had to provide a 2nd letter saying the same to cover me for years 3 and 4.  Know this... you can renew your Residency at a BCR (banco de Costa Rica... make the appointment on-line) and they are generally more efficient and faster and you can pay the fees directly to them during your renewal appointment .   Going to a Migracion office would mean that you would have to go 2x plus a visit to BCR to pay the fees... Migracion offices do not accept payments of any kind.  dumb but normal here.

(easier to do it if you have the $60K in your 'dollars' account at your CR Bank... already in Spanish and doesn't need apostille).  Thus, my Caja monthly was $250 plus/minus and I was opted out of pension and maternity.  Of course, the dollar was WAY stronger and my actual costs in 'dollars' was far lower; but I'm still only paying around $258/month (up $8 in five years)... but when dollar was strong... my actual costs in dollars was under $200.... and during Covid, everybody got a BIG discount.

It was a good way, for me, to keep $60K sitting in bank for future use.  At the end of Year Three of legal, temporary Residency, you can go to a Migracion office and apply for Permanent Residency.  There is no proof of income needed for that... you simply write a letter (in Spanish) saying why you want to 'live' here, pay some fees, and wait.  Generally, your year #4 will run out while you are waiting... don't panic and 'renew' again...  Once you have been notified that your Permanent Residency has been approved; you pay more fees and an extra one for the expired cedula (ID).   I waited 15 months  ...  and lived here with an expired Cedula for three months... during which time I relied on my passport.  Permanent is good for 3 years, then you renew every 5 years after that... until you become a naturalized citizen.   Naturalized citizens are not required to be members of the Caja... so you can opt for Private care if you do so choose to do.

Note... I 'could' now go to a Caja office and show a 'change of income' (using my SS Benefits Letter) now that I receive SS benefits which are lower than $2500/month.... BUT I would run the risk of losing my Opt-Outs on the pension and maternity costs... so I'll keep my mouth shut for now.   LOL

Of course. anything and everything could change at Any Time... this is Latin America... so get used to the chaos.

Probably a really good idea to talk to a CR lawyer about your options and if, in the long run, which option would save you more on the 'always and issue on this forum' Caja costs.  What looks good on paper during your initial plans, could ultimately cost you... so consider things that you originally wouldn't have.  Rentista could ultimately save you on your Caja fees... they will add up.   

Like Terry said.. everybody's situation is different.

Good Luck.

@TerrynViv

Thx Guys appreciate the info

@rainagain

Great response Rainagain, appreciate the info, we will be using a lawyer to sort out the details. Cheers