NOMADS!
Costa Rica is embarking on a new step for its digital tourists and has introduced a new “Digital Nomad Visa’. They are the latest country to introduce this new visa and are joining Barbados, Croatia, Dubai and Bermuda to name just a few. Under normal tourist travel to Costa Rica, foreign nationals will receive a 90-day stamp for their trip. With the new law, digital nomads can now remain in Costa Rica for an initial one year stay and may be eligible for an extension for an additional year.
Costa Rica has always been an attractive destination for travelers and by bringing in this new law the Costa Rican Government are hoping to stimulate the economy and make it an even more attractive destination for ex-pats.
It has been given the official name of the “law to attract remote service providers of an international nature,” The regulations have yet to be officially released but the guidelines given are that there wouldn’t be a need to leave the country after 90 days as the visa would be valid for one year. Proof of funds from a foreign source of $3000 or more per month would need to be provided. If applying as a family unit then $5000 per month proof would be required. Also, you would need to show proof of health insurance for the duration of your stay.
The law will also allow foreign nationals to open a bank account and drive using a driver's license from their home country. The law was officially signed on Aug. 11, 2021, and more details are still to come regarding the application process, fees, and other specifics.
Many people would prefer to stay in Costa Rica longer than 90 days and in these current times of more companies allowing flexibility to their workers then it is a great offering from the Costa Rican Government. The Costa Rican President Carlos Alvarado has said, “The law gives hope for the tourism sector, for the economic reactivation of the country”
People who obtain the new Nomad Visa will be able to open bank accounts, drive using their current valid foreign license.
The law was signed on August 11th 2021 and the fees, details and official requirements are expected to be announced very soon.
At precision we are at the forefront of Immigration and will endeavour to keep everyone updated.