Simplifies immigration procedures and provides tax incentives for foreign investors

The Law 9996 Regulation was published in the Official Gazette on February 23, 2023, with the purpose of attracting foreign investment for economic, social, and cultural enrichment. The new regulation simplifies immigration procedures for foreign investors and establishes subcategories for investors, foreign income earners, and pensioners, each with specific requirements. Additionally, tax incentives are available, such as exemptions from income tax and import taxes, as well as eligibility for tax residency.

To qualify, applicants must have invested at least $150,000 in the country and demonstrate continuous maintenance of their investments.

• Type:

  • Promotion and facilitation (Investment incentives, Other)

• Industry:

  • Not industry specific

• Sources:

  • Diario Oficial La Gaceta Costa Rica, ALCANCE NO 28 A LA GACETA NO 34 , https://www.imprentanacional.go.cr/pub/2023/02/23/ALCA28_23_02_2023.pdf, 23 Feb 2023
  • JD Supra, Costa Rica: What you need to know about the new regulations to attract investors, foreign income earners (“Rentistas”) and retirees, https://www.jdsupra.com/legalnews/costa-rica-what-you-need-to-know-about-3255452/, 14 Mar 2023