#CostaRica 🇨🇷 #BDSLaborAlert: Bill of Law on the Attraction of Investors, Renters and Pensioners (File 22.156) approved in 2nd discussion
This Law is intended to boost the dynamics of our economy by creating applicable incentives to all...
Fostering tourism and creating jobs are the main goals for attracting this specific group of tourists.
Below is all you need to know about this new law and its specific requirements:
What is a digital nomad?
These are long-stay tourists that may come to live and work in the country with their families on a temporary basis, while also creating jobs and productive chains by consuming products, renting houses or apartments, and enjoying beaches, mountains and other tourist attractions. This will not apply to foreign residents.
What are the benefits enjoyed by digital nomads?
• Income tax exoneration.
• One-year, multiple entries, extendable visa.
• Tax-free importation of any equipment necessary for working purposes.
• Recognition of driver’s license for a one-year term.
What are the requirements to qualify as a digital nomad?
• Foreign citizens coming to the country for working purposes.
• Evidence of income above $3k per month; if traveling with their families, at least $5k.
• Procurement of a health insurance policy covering the applicant for the entire duration of their stay in the country. Also, all family members of the applicant must be covered.
• One-time fee payment for the granting of a nonresident Teleworker or Remote Service Provider visa.
How do I enroll?
The General Immigration and Foreigners Authority will be the administrative entity responsible for receiving, processing, granting, denying or revoking the granting of this migratory permanence subcategory. The application will be submitted digitally through a platform for the expedite processing of applications from foreign individuals wishing to opt for this Remote Service Provider category. BDS may assist you during this process through the platform: https://www.bdsasesores.com/en/contact/digital-nomad-costa-rica-panama/
How should I certify my income?
Income may be evidenced through bank account statements supporting the necessary income or through any other means of proof to be indicated under the relevant regulation to the law.
What are the benefits from having digital nomads in the country?
As they demand for goods and services, these visitors foster the reactivation of economy and the creation of jobs, while they also visit many touristic sites in the country. Based on their profile, these tourists tend to spend much more than average citizens.
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