- There are $60,000 in savings at the bank;
- From which the applicant receives $2,500;
- For a period of 24 months.
The account with the $60,000 USD can be set up with a bank in your home country, or with a bank in Costa Rica. If setting up an account in Costa Rica, it is preferrable for the account to be in USD instead of Costa Rican Colones. A lot people think that putting the money in colones is a good idea because of the interest rates, but the devaluation of the currency will affect you in the long run.
The Temporary Residence under the Rentista Category is valid for two years and it can be renewed for additional two year periods. After three years, the person is eligible for Permanent Residence. This means that if you would like to apply for permanent residence after three years, then you will need to renew your rentista category, which requires you to set up an account with the $60,000 USD again in order to renew.
People who do not have $60,000 USD in the bank, but have verifiable income of at least $2,500 per month, can also qualify.