New Legislation Increases Financial Requirements For Pensionado Status In Costa Rica
Aug. 5, 2009
"This country's long-discussed new immigration law has been passed by the legislature," writes Costa Rica Correspondent David Stubbs.
"The new law stipulates that all foreign residents will have to join the Caja Costarricense de Seguro Social as a condition of their residency and raises the financial requirement for pensionado visa status from US$600 to US$1,000 per month. The good news is that the change is no retroactive, meaning current pensionado visa-holders will not have to meet the new minimum requirements.
"Rentistas now will have to show a steady income of US$2,500 per month. The new bill now must be signed by the president. It will take effect six months thereafter."
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