{"id":2630,"date":"2021-06-15T15:28:58","date_gmt":"2021-06-15T21:28:58","guid":{"rendered":"https:\/\/www.propertiesincostarica.com\/blog\/?p=2630"},"modified":"2021-06-15T15:37:14","modified_gmt":"2021-06-15T21:37:14","slug":"this-new-law-in-costa-rica","status":"publish","type":"post","link":"https:\/\/www.propertiesincostarica.com\/blog\/this-new-law-in-costa-rica\/","title":{"rendered":"This new law makes it easier for you to live in Costa Rica!"},"content":{"rendered":"<p>With the purpose of attracting foreign <a href=\"https:\/\/www.propertiesincostarica.com\/invest.html\" target=\"_blank\" rel=\"noopener noreferrer\">investment<\/a> and reactivating <a href=\"https:\/\/www.propertiesincostarica.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Costa Rica<\/a>\u2019s local economy , 35 legislators out of 45 have voted in favor of a bill aiming to reduce the total amount of money required to obtain a Costa Rican residency in the case of foreign pensioners or rentiers . Primarily, the bill considers a drop in the minimum sum of investment to 150 thousand US dollars, applicable towards investments related to\u00a0 real estate, registrable assents, shares, securities, and productive projects or projects of national interest, all of which have to be properly demonstrated and in line with Costa Rican law to be able to opt for the a 10- year residency. Furthermore, vehicle import free of import and tariff taxes\u00a0 for\u00a0 investors and\u00a0 pensioners has been increased to 2 cars instead of only 1. Some other benefits to keep in mind are the following:<\/p>\n<ul>\n<li>Exoneration (for a single time) of import customs taxes on household goods<\/li>\n<li>Monthly pension received from abroad is free of income tax<\/li>\n<li>The falsification of documents would result in the\u00a0 payment of the exonerated tax and a sanction equivalent to 10% of the taxes exonerated.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>Even though there is still room for improvement in Costa Rica\u2019s foreign attraction policies and laws, Costa Rica\u2019s deputy of the PLN party Silvia Hern\u00e1ndez reminds us that the \u201cattraction of investment cannot be limited to a single element, which is why the bill includes other mechanisms to enhance this objective. Additionally, the country needs to urgently address different areas, such as the simplification of procedures, among others \u201d (Hidalgo, 2021).<\/p>\n<p>&nbsp;<\/p>\n<p>Be it in the central valley capital city of San Jos\u00e9 or the Pacific and Caribbean coastlines , Costa Rica is constantly working to enhance all expats experience around the country; and, more importantly, these changes in its law facilitate the \u2018Pura Vida\u2019 lifestyle you\u2019ve finally come to enjoy\u00a0 .\u00a0 Stay tuned for more information regarding the final approval of the bill.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>With the purpose of attracting foreign investment and reactivating Costa Rica\u2019s local economy , 35 legislators out of 45 have voted in favor of a bill aiming to reduce the total amount of money required to obtain a Costa Rican residency in the case of foreign pensioners or rentiers . Primarily, the bill considers a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2631,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>This new law makes it easier for you to live in Costa Rica! - Properties in Costa Rica Blog<\/title>\n<meta name=\"description\" content=\"With the purpose of attracting foreign investment and reactivating Costa Rica\u2019s local economy , 35 legislators out of 45 have voted in favor\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.propertiesincostarica.com\/blog\/this-new-law-in-costa-rica\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"This new law makes it easier for you to live in Costa Rica! - Properties in Costa Rica Blog\" \/>\n<meta property=\"og:description\" content=\"With the purpose of attracting foreign investment and reactivating Costa Rica\u2019s local economy , 35 legislators out of 45 have voted in favor\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.propertiesincostarica.com\/blog\/this-new-law-in-costa-rica\/\" \/>\n<meta property=\"og:site_name\" content=\"Properties in Costa Rica Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/propertiesincostarica\" \/>\n<meta property=\"article:published_time\" content=\"2021-06-15T21:28:58+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-06-15T21:37:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.propertiesincostarica.com\/blog\/wp-content\/uploads\/2021\/06\/new-law-costa-rica.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"500\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Properties in Costa Rica\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@propertiesincr\" \/>\n<meta name=\"twitter:site\" content=\"@propertiesincr\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Properties in Costa Rica\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.propertiesincostarica.com\/blog\/this-new-law-in-costa-rica\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.propertiesincostarica.com\/blog\/this-new-law-in-costa-rica\/\"},\"author\":{\"name\":\"Properties in Costa Rica\",\"@id\":\"https:\/\/www.propertiesincostarica.com\/blog\/#\/schema\/person\/3818c2ef349690aec636bbf06e147227\"},\"headline\":\"This new law makes it easier for you to live in Costa Rica!\",\"datePublished\":\"2021-06-15T21:28:58+00:00\",\"dateModified\":\"2021-06-15T21:37:14+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.propertiesincostarica.com\/blog\/this-new-law-in-costa-rica\/\"},\"wordCount\":331,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.propertiesincostarica.com\/blog\/#organization\"},\"articleSection\":[\"Costa Rica Real Estate\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.propertiesincostarica.com\/blog\/this-new-law-in-costa-rica\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.propertiesincostarica.com\/blog\/this-new-law-in-costa-rica\/\",\"url\":\"https:\/\/www.propertiesincostarica.com\/blog\/this-new-law-in-costa-rica\/\",\"name\":\"This new law makes it easier for you to live in Costa Rica! 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