As political tensions rise across the globe, Costa Rica is becoming more attractive to people looking to move abroad. Ranking as the 2nd safest country in all of North and South America, and with the best universal healthcare system in all of the Americas, according to the Global Peace Index and the International Citizens Insurance company respectively. This has been a contributing factor to the number of people seeking residency by investment, fixed income, or retiree options.
Residents in Costa Rica have access to a universal healthcare system, which is ranked 30th in the world by the International Citizens Insurance company, above the United States, Canada and the rest of the Americas. People from the United States of America and Canada spent $12,555 and $6,319 respectively per capita on healthcare in 2022, while Costa Rican residents spent $1,658 according to OECDs Health Spending report.
Costa Rica is the healthiest country in all of North and South America, and the 29th healthiest country in the world, reported by the Legatum Prosperity Index. Costa Rica also has the 4th highest life expectancy for both sexes in this region (78.63) according to the World Health Organisation.
Costa Rica continues to rank number 1 on International Livings list of preferred destinations for people looking to live abroad, and Costa Rica is 12th happiest place on earth according to the World Happiness Report 2024. So it is no wonder Costa Rica’s immigration department is seeing an influx of people, evident from the time lag in application acceptance, reflecting the demand for residency in Costa Rica. Costa Rica offers several residency options that any foreigner can attain, the three most common categories are:
Retiree (Pensionado) Residency – Designed for retirees, applicants must prove they receive a lifetime pension of at least $1,000 per month from a government or private pension fund.
Fixed Income (Rentista) Residency – The fixed income residency option requires proof of a steady income of at least $2,500 per month for at least two years or a $60,000 deposit in a Costa Rican bank.
Investor (Inversionista) Residency – Applicants qualify by making an investment of at least $150,000 in Costa Rican real estate, business, or a government-approved project.
Residency processing times can vary, although they should take between three to six months to finalize, but since Covid-19 the residency processing has been overwhelmed and is now taking around nine-twelve months. During this time, applicants are allowed to stay in the country while their paperwork is being processed.
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