More details | Back to Content
NEW 2021 COSTA RICAN IMMIGRATION LAWS
By Vitaly Balasanov
Costa Rican immigration laws are changing – mostly to the benefit of those seeking residency. The new laws are being designed to attract investors, renters, and retirees. According to Jorge Gonzalez Roesch, partner at INVICTA LEGAL COSTA RICA, the recently
3. Tax-free import of 2 vehicles (land, maritime, and air transport) for personal or family use.
approved “Law for attraction of investors, renters
4. Local income tax for the amounts declared to
and retirees”, aims to grant additional benefits
obtain the migratory status does not apply.
to the new residency applicants in these
Further income resulting from the investment
categories. The benefits will apply for those who apply for residency in the first 5 years of the validity of the law and will last for 10 years after they get approved. The benefits are as follow: 1. One time only tax exemption from import of household goods. 2. These include new and used household goods in reasonable quantity such as appliances, furniture,
within the national territory will have to pay income tax. 5. 20% transfer tax reduction of the property acquired during the period of said law. 6. Tax exemption for equipment or materials for professional or scientific use. 7. The beneficiaries of the immigration status of investors, residents, and retirees will not be considered automatically as tax residents.
decorative items, among others.
2CRRE | Exclusives magazine
38
