The Costa Rican Congress approved bill 22,156 called "Law of Attraction of Investors, Rentiers and Pensioners" in its second debate.

The Costa Rican Congress approved bill 22,156 called "Law of Attraction of Investors, Rentiers and Pensioners." The purpose of this law is to encourage the attraction of investors, rentiers, and pensioners to contribute to economic reactivation.

Among the most important aspects are:

a) INCENTIVES: The people covered by this law will enjoy the following incentives:

Duty free and all import taxes present for a single time, for the importation of household items. In the applications they will be able to protect their dependents, for immigration purposes.

Up to two land, air and/or sea transportation vehicles may be imported, for personal or family use, free of all import, tariff, and value-added taxes.

The amounts declared as income to qualify for the benefits of the law will be exempt from income tax.

Exoneration of twenty percent (20%) of the total transfer tax, in those real estate assets that they acquire within the term of the law.

Exemption from import taxes for instruments or materials for professional or scientific practice, carried out by the person with the migratory category of investor, retired resident, or rentier resident.

b) TAX RESIDENCE:

The beneficiaries of the law will not be automatically considered tax residents.

c) INVESTORS:

For the category of investors, for the period of validity of the law, the sum of one hundred fifty thousand US Dollars (US $150,000.00) is established as the new investment range, according to the official sale exchange rate determined by the Central Bank of Costa Rica, whether in real estate, registrable assets, shares, securities and productive projects of national interest. In those cases where the investment is regulated by special laws, it will be analyzed individually.

In addition, investors may be considered those who invest in venture capital funds or in sustainable tourism infrastructure projects.

d) VALIDITY: The term of validity will be five years from its publication in the Official Newspaper.

Currently the bill was sent for the signature of the President of Costa Rica and will later be published.

The law also contemplates the creation of special areas for the attention of requests in these categories.

Learn More About the Law of Attraction of Investors, Rentiers and Pensioners in Costa Rica

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