If you’ve always dreamed of moving to one of the most relaxed and beautiful countries filled with natural parks and waterfalls, then pack your bags: The new Costa Rica digital nomad visa has finally arrived.
President Carlos Alvarado signed the digital nomad initiative into law in August of last year with expectations that the program details would be finalized in about two months. But the regulations didn’t end up completed until July 4 of this year. Foreign remote workers and their families are now allowed to travel on the new visa to work and live in Costa Rica for a year and apply for a one-year extension. Alvarado said at the time of signing the bill that allowing tourists to enter the country for extended periods means the country can take advantage of the dollars they spend in the economy.
The law comes with great benefits, including not paying any of the country’s income taxes or import taxes on any equipment needed to do work, including computers, tablets, and cameras. People making the move will also be able to import up to two vehicles.
To be eligible for the visa, travelers must make a minimum income of $3,000 per month if they are solo travelers, or $5,000 if they are traveling with their families. According to the Tico Times, travelers cannot work for any Costa Rican company during their stay to ensure jobs aren’t taken from residents. And original bank statements, along with a signed affidavit, need to be presented as proof of income. Travelers will also need to obtain health insurance for their entire stay. And all documents need to be translated into Spanish before submission.
Costa Rica is one of the more expensive Latin American countries, but if you want to live there inexpensively, it’s definitely doable.Applications are already available. Included in the law, applications will either be accepted or denied within 15 days of submission to ensure efficient processing. You’ll be saying Pura Vida in no time.