Approval of new laws that benefit foreigners who wish to reside in Costa Rica (digital nomads, investors, tenants, retirees)
In order to increase foreign investment and flows, the government of Costa Rica approved Bill 22 215: Law to Attract International Workers and Remote Service Providers and Bill 9996 (which has already been published and is already in force): Law to attract investors, renters and retirees.
- Law to attract international workers and remote service providers: a new category of estancia immigration to Costa Rica called “international worker or remote service provider” is created. This category will apply to foreigners who have a fixed and stable monthly income of 3,000 USD. If it is a whole family (children, spouses, elderly), the required income will increase to 4,000 USD. This worker will be exempt from income tax and will not be considered a habitual resident of Costa Rica for tax purposes either. The foreigner will also be able to import basic personal computers, telecommunications equipment or similar equipment necessary for the performance of professional tasks, without paying import taxes.
- Law to attract investors, tenants and retirees: this law aims to attract foreign residents to Costa Rica by offering various advantages that will make the country more attractive to beneficiaries of the law. These advantages include exemption from duty and import taxes on household goods, exemption from import tax up to 2 vehicles, exemption from income tax, exemption from 20% of the tax on real estate transfers and exemption from import taxes for tools for professional or scientific practice.
Finally, although this is good news for expatriates, the regulations (statutes) of the two laws have yet to be published, which will deepen and clarify each law and its specific application.