Costa Rica retirement may be the dream of many who want to spend their golden years in a warm climate. The Central American country has facilitated American retirees for years with retirement communities and is one of the most desirable places for retirees around the world with its low cost of living, natural beauty and tropical climate. In fact, there are more Americans in Costa Rica per capita, mostly in the country’s Central Valley, than any other country outside the United States.
How Does One Prepare to Retire to Costa Rica?
With some planning and preparing, it is possible to relocate and enjoy a retirement in Costa Rica. Those who only plan to stay in the country for a fixed period of time may apply for residency grant that is given to foreign nationals. Otherwise, one may become a legal resident. A Pensionado resident has to provide an official document proving he or she receives a lifetime monthly pension of at least $1000 in US currency or the Costa Rican colones equivalent.
Even though one may want to become a legal resident, it is not necessary to renounce American citizenship for Costa Rican retirement. However, one may apply to become a citizen of Costa Rica after a few years. The Costa Rican people also tend to be friendly toward expatriates. It is not required for expats to learn the language, but it will make life much more convenient, especially when it comes to understanding the country’s Spanish legalese.
Other Aspects of a Costa Rica Retirement
A high standard of living with a low cost of living makes a Costa Rica retirement an attractive prospect for many, especially those who would like to buy a home or some real estate.
Some even choose to build a home near one of Costa Rica’s many natural wonders including green mountains, sandy beaches, a sapphire ocean and waterfalls.
Others may want to invest in property with Costa Rica becoming a highly desirable vacation spot.
Some may decide to spend their Costa Rican retirement living modestly. It is possible to enjoy a comfortable existence for $1500 a month. Urban apartments or small homes usually rent between $300 and $600 a month even if they are fully furnished. Retirees who want a more luxurious existence may spend twice this much per month, especially if they live in Central Valley near San Jose, a good area to have access to many amenities and entertainment.
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