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Newbie desiring pensionado status,

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rattrap

Hello, another newbie here, I would like to get pensionado status in Costa Rica but my Social Security benefits are only $950 per month.  Can I combine my SS with my wife's for a total of $1850 per month so that we meet the $1000 per month requirement or do I have to go with the Rentista option?   

Also I would like to know if we can start as rentistas and change our status to pensionados once we are both retired with SS benefits?  Thank you!

kohlerias

No, you cannot combine two persons 'guaranteed for life' income for this purpose, but check whether or not into you can get a small annuity for the difference. An acquaintance purchased theirs with
enough invested to qualify for five years, through Prudential...however this was a few years ago, so am not sure if it is still available. Once you have gained Permanent residency, which will take from 4-5 years from the initial application, there is no need prove your financial information.

Getting residency at this time is taking nearly two years from the application process and with what is evolving, things could change.

rattrap

kohlerias

Thank you for the reply, I did not know that
you could use a 5 year annuity.  I had been told that you had to prove permanent  income for life.  Under our personal situation I believe we will try to become rentistas.

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