#CostaRica #taxincentives #residency ‘Costa Rica Tax Incentives PASSED! Become LAW! Get Your Residency NOW’ Costa Rica first talked about it last August 2020. They were looking for ways/incentives to attract gringo (expats) to Costa Rica who wanted to live in Costa Rica and become residents. Tax exemptions. Bring down your car, tax free. Bring down 2 cars, boats whatever, tax free. A container of household good, again tax free. Change the ‘investor’ category of residency from an investment of $200,000 to $150,000. Money made abroad, not taxed. IF you don’t live in Costa Rica you may not understand how BIG these incentives actually are. But would the pass muster. We’ve been discussing it for almost a year now.
This incentive project will reduce the minimum capital investment for Costa Rica residency from $200,000 to $150,000.
In addition, the law includes incentives such as the tax-free importation of vehicles for personal or family use and a one-time tax exemption for importing household goods. ‘Costa Rica Tax Incentives PASSED! Become LAW! Get Your Residency NOW’
People who qualify can import “up to two land, air or sea transportation vehicles, for personal or family use, free of all import, customs and value added taxes,” the text reads.
Money earned abroad (e.g. a U.S. pension) would not be taxed by Costa Rica.
“What this law achieves is to create the conditions so that these rentiers can come to the country, bring their investments and we can generate employment. It is one more step in the direction of recovery, which we all must continue to push in the country,” said President Alvarado.
“This is a project that, through financial benefits, seeks to bring this type of people to live for some time in Costa Rica,” said lawmaker María Inés Solís, who previewed “greater dynamism and foreign investment.”
“This initiative provides a legal framework of incentives for foreigners with the status of resident investors, rentistas and pensioners and seeks to keep Costa Rica in their first choices as a destination of excellence.”
While the law will produce changes to the Costa Rica residency process, “we must also wait for the ruling that will come to dictate how the law is actually applied to be prepared and published,”
Wondering where the gringo’s live, where the expats are? Here’s few favorite places and areas US, Canandians and Europeans like to live in Costa Rica- La Fortuna, El Castillo, Nuevo Arenal, Tiliran, Tamarindo, Samara, Nosara, Mal Pais, Montezuma, Manuel Antonio, Jaco, Dominical, Uvita, the Osa Peninsula, Grecia, Atenas, Santa Ana, San Ramon… just to name a few 😉
I hope you ENjoYed this video, ‘Costa Rica Tax Incentives PASSED! Become LAW! Get Your Residency NOW’ and hope to see you in Costa Rica very soon, enjoying your tax exemptions. From all of us at Travel Costa Rica NOW.com Pura Vida.
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