In order to increase foreign investment and flow, Costa Rican Government has approved Law Project Number 22,215: Law to attract international workers and remote service providers and Bill 9996 (which has already been published and is already in effect): Law to attract investors, rentists and retirees.
- Law to attract international workers and remote service providers: a new Immigration category of estancia in Costa Rica called "International Worker or Remote Service Provider" is created. This category will apply to those foreigners who have a fixed and stable monthly income of USD 3,000. In case it is a complete family (children, spouses, elderly), the required income will increase to USD 4,000. This worker will be exempt from paying income tax, nor will he/she be considered a habitual resident of Costa Rica for taxing purposes. The foreigner will also be able to import basic personal computer, telecommunications, or similar equipment necessary to fulfill work tasks, without paying importation taxes.
- Law to attract investors, rentist and retirees: this law aims to attract foreign residents to Costa Rica by providing various benefits that will make the country more attractive to those benefited by the law. These benefits include duty free and import taxes on household goods, import tax exemption for up to 2 vehicles, exempt from income tax, exemption of 20% of the real estate transfer tax and exemption from import taxes for professional or scientific practice tools.
Finally, although this is good news for expatriates, the regulations (bylaws) for both laws are yet to be issued, which will deepen and further specify each law and its specific application.