A digital nomad visa in Costa Rica might be close

According to several analysts that I have been able to consult recently, the COVID pandemic is accelerating globalization, specially in Latin America. Many companies have implemented work-from-home policies to keep functioning, and remote work came to stay. Large companies and employees have discovered numerous benefits of this trend, and countries are competing to attract the remote employees into their economies.

Costa Rica, a country with a long tradition of excellent policies to attract foreign investment and a dreamy destination for travelers, has been paying close attention to the trend, and the Legislative Assembly (the law making entity of the Republic) is considering a project that would allow foreign “digital nomads” to be able to stay and work from Costa Rica with their families.

Digital Nomad is an informal term to describe people that work remotely in a nomadic way. This means that a digital nomad will probably travel to a different country from time to time, because their work does not require them to be at a specific physical location at any given time. These nomads work from their computer (hence the “digital” part of the term), and usually rent a house in a foreign country or use coworking spaces.

These digital nomads are a driving force for tourist destinations because they will live in a place where they will go to the grocery shop, visit the restaurants and local attractions and, in general, will be people who will be a part of the community.

To increase the occupation at hotels and available accommodations, the Costa Rican Legislative Assembly has drawn a project that would make the current migration laws more flexible. Specifically, the law as it looks at this moment would allow foreigners who prove that they receive a monthly income of at least $5000 US dollars or its equivalent to be able to stay in the country for a year. This yearly term may be extended for a period of six months. In general, some conditions apply, of course, but this law would represent a very innovative step forward and would make Costa Rica an attractive destination for digital nomads.

I will keep track of this project and inform the IR Global community if it is approved. Please contact me if you are interested in starting a residency process in Costa Rica.