On February 23rd, 2023 was published in the official newspaper La Gaceta the Executive Decree N° 43926 -MGP-H-TUR, the regulation of Law 9996.
This regulation will apply to the residency subcategories of Investor, annuitant, and pensioner. It provides the process to be followed to obtain the tax exemptions granted in section 5 of Law 9996 and revoke the previous regulation about the investor subcategory.
Based on the new regulation, a person looking to get Residency as an investor must comply with and minimum investment of US $150,000.00, -before was US$ 200K- and these are the main requirements for each investment option:
Real estate investment: The applicant must purchase the real estate under their name; this eliminates the possibility of purchasing under a corporation.
Shares Investment: The corporation must be inscribed as a taxpayer and comply with all the requirements of a real-running working business.
Stocks: The stock market where the investment is made has to be registered before SUGEVAL “
Superintendencia General de Valores.”
| Projects of National Interest or Production ProjectsFor projects of national interest, the applicant must provide the Executive Decree that declares the activity a National interest. For Production projects, the applicant must provide the document duly signed by the competent authority in which the economic activity will be developed, including the investment made on forestry plantations, that the MINAE must provide. Venture Capital FundsThe company that manages the Venture Capital Fund must be duly inscribed before the National Registry of Securities of SUGEVAL. Sustainable Tourist Infrastructure.The Project requires technical approval from the Costa Rican Institute of Tourism ICT. We at GM Attorneys will be pleased to help you with your legal matters in Costa Rica! Please contact us at info@gmattorneyscr.com or visit our website and blog section. |