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The Legislative Assembly approved last week the LAW FOR THE ATTRACTION OF INVESTORS, FIXED INCOME PEOPLE AND PENSIONERS, as part of the measures proposed by the Government of Costa Rica for economic reactivation in the post-pandemic period.

This law established a set of tax benefits and / or exemptions that the country will grant to foreigners who wish to apply for a Residence in Costa Rica, under three specific categories, for the duration of the law.

Article No. 11 of the aforementioned Law established that the Executive Branch has 60 days to issue the corresponding Regulation, which will provide more clarity on the details of implementation of this law.

The following benefits were established by the law:

  1. One-time import tax exemption for household items. Which includes among others, furniture and home decoration items, appliances, kitchen and bathroom utensils, and bedding.
  2. Exemption from import, tariff and value added taxes of up to two land, air and / or sea transportation vehicles for personal or family use.
  3. The amounts declared as income to become a creditor of the benefits of this law will be exempt from income tax.
  4. Exoneration of 20% of the total Transfer Tax on real estate assets that they acquire during the validity of the law and that are registered in the name of the resident who has received the benefits.
  5. Exemption from import taxes on instruments or materials for professional or scientific practice that can be proven to Ministry of Finance to be essential for their economic activity.

Additionally, the aforementioned law reduced the minimum investment amount that is required to apply for residency under the Investor category to $ 150,000.00 USD, and approved the inclusion in this category of investors involved in venture capital funds and / or in sustainable tourism infrastructure projects.

For the processing of the residency visas covered by this law, the General Directorate of Migration and Foreigners will be the Institution in charge, so it has the obligation to set up an exclusive office for the attention of the beneficiaries, especially focused on the simplification criteria of formalities. And as for tax exemptions and other tax aspects, they will be in charge of the Ministry of Finance.

Foreigners who apply for the benefits granted in this law in the first five years, will keep them for a period of 10 years from the date they were granted.

For the application of the benefits established by this law, you can contact us at and we will gladly assist you.

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