Has anyone here pursued Costa Rica permanent residence?
PENSIONADO status. The requirement is for $1,000 coming in per month from Social Security or a retirement fund per couple. I could easily do this by selling some stocks and converting to high-dividend stocks. Would that approach be permissible? How long is the look-back or look-forward on the investment fund to make sure those dividends continue? (some company reduce or eliminate dividends from time to time).
Update: Another website indicates that this visa class is only for those already retired and receiving pension income, so it may not work for my situation.
RENTISTA Status. This class seems to have the most applicability to those not retired (similar to an investment visa).
The Rentista status caters to those with regular income from investments—at least $2,500 per month for at least two years, guaranteed by a banking institution,
I think its the same requirement of 1 day per year.
My question is for a regular IRA or Roth IRA, how would you ever get a bank to guarantee the income?
Update: According to one website, The most common method used to prove the unearned income is by means of a notarized letter from a bank or financial institution indicating the applicant has at least $60,000 USD ($2,500 x 24 months) in a long term account such as a CD, and that the applicant agrees to withdraw and transfer to Costa Rica $2,500 per month for the next 24 months. Income from salary or wages, or any form of employment does not qualify as unearned income and it cannot be used to apply for Rentista status.
Bank Deposit Requirement Once approved, the resident agrees to deposit a minimum of $2,500 USD per month (or $30,000 USD per year) into the resident’s Costa Rican bank account. The deposits are required for two years.
I did see some contradictory information that at least for the investionista status, you must remain in Costa Rica for 183 days per year. So I am not totally sure which is correct.
Has anyone any experience?