Herman Duarte Explores the USA “Golden Card” and compares to the immigration offerings that Costa Rica has
Herman Duarte, founder of Simple Legal Consulting, was recently featured in an article in La República discussing various immigration categories and reforms.
The article discusses former U.S. President Donald Trump's recent proposal for a "$5 million Golden Card" residency program, following the model of "Golden Visas" used in other countries to attract wealthy investors. It compares this model with Costa Rica's current immigration framework under Laws 9996 and 10008, which offer residency to investors, pensioners, rentistas, and digital nomads. The author argues that Costa Rica must rethink its migration strategy due to growing infrastructure and housing pressure. They propose reforms to reduce "perpetual tourists", tighten residency requirements, and introduce a new visa category for individuals with high social impact, even if they lack economic means. The goal is to attract migrants who contribute positively and sustainably to the country.
Read the full article on this website, just scroll down and. the original in spanish here: El “Golden Card” de EE.UU.… ¿Y el de Costa Rica?
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The U.S. “Golden Card”… And What About Costa Rica’s?
Herman Duarte. Costa Rican lawyer. MSc from the London School of Economics (LSE) and LLM from Stockholm University. Founder of Simple Legal Consulting, combining academic rigor with innovative legal solutions.
On February 25, former President Donald Trump announced a new immigration program called the “Golden Card,” which will allow a person to acquire U.S. residency after investing USD $5,000,000. Although specific implementation details have not yet been released, the logic behind these types of schemes — known as Golden Visas — is to attract high-net-worth individuals who boost the economy rather than compete with locals for jobs or affordable housing.
These programs are in place in many countries such as Portugal, Greece, Malta, Spain, Hungary, Canada, the United Arab Emirates, and several Caribbean islands. Panama, our neighbor to the south, offers a Golden Visa with highly competitive investment options, including:
Real estate investment: USD $300,000
Investment in Panama’s Stock Exchange: USD $500,000 (minimum 5 years)
Fixed-term deposit in a Panamanian bank: USD $750,000 (minimum 5 years)
Does Costa Rica have a Golden Visa?
Yes, though with a different approach. Costa Rica has residency programs under Laws 9996 and 10008, designed to attract investors, rentistas, and pensioners.
1. Law 9996: Residencies for Investors, Rentistas, and Pensioners
Since July 2021, this law offers migration and tax benefits for foreigners wishing to live in Costa Rica under three categories:
• Investor: USD $150,000 investment in real estate, local company shares registered with the tax authority, vehicles, securities, and more
• Rentista: Proof of passive income of at least USD $2,500 per month for two years (USD $60,000 total), from either foreign or local sources
• Pensioner: Lifetime pension of at least USD $1,000 per month
These residencies are granted for two years and are renewable. After three years, one can apply for permanent residency, and after five or seven years (depending on nationality), for naturalization (via a process that takes 255 business days).
2. Law 10008: Residency for Digital Nomads
This law promotes the arrival of remote workers with a minimum income of USD $36,000 annually (or USD $48,000 for families), granting a 12-month permit, renewable for another 12 months.
Are we attracting the kind of migrants we want?
Regulated and well-structured migration can benefit a country, but it’s vital to ensure migrants contribute meaningfully to the economy and communities — it’s not just about money. Costa Rica is under growing pressure in infrastructure, housing, and employment, making it necessary to reconsider its migration policies.
Currently, the system allows the arrival of people with limited resources, many of whom seek cheap rentals, displacing locals and raising gentrification concerns. That doesn't mean only wealthy migrants should be welcomed, but migration policy must ensure newcomers contribute positively and sustainably.
Proposed Reforms:
1. Toughen rules for perpetual tourists
• Ban “border runs”: Many avoid formal residency by exiting the country every 90/180 days to renew tourist status. The immigration office (DGME) should instruct staff to deny entry or issue warnings to people with more than 4 entries per year unless they apply for legal residency.
• Increase and enforce fines: Currently, overstaying as a tourist carries a $100 fine, which is rarely enforced. This should be raised and linked with re-entry bans.
• Shorten tourist stay limit: From 180 days to 90–100 days to encourage formal residency applications.
2. Adjust rentista requirements
• Remove the option to show foreign income. Funds must enter a Costa Rican bank to count, ensuring money flows into the local economy.
3. Reform pensioner category
• Raise the minimum pension to USD $5,000. Many retirees benefit from Costa Rica’s affordable healthcare but contribute little to the economy. A higher requirement ensures self-sufficiency.
4. Create a new category: Social Contribution / Community Impact
This could go hand-in-hand with a selective amnesty for long-term undocumented tourists. Some people may not be wealthy but bring valuable skills or services — e.g., marine biologists working in conservation, rural doctors, teachers, or artists in under-resourced communities.
This would resemble the U.S. EB-2 National Interest Waiver (NIW), granting residency to those with advanced education or exceptional talent — though Costa Rica’s version should also include people without formal degrees but with significant societal impact.
A selective amnesty would give long-term undocumented residents who positively contribute (e.g., creating jobs or leading community projects) a path to legal residency. Those who haven’t contributed could be asked to leave. This allows Costa Rica to retain those who add value while ending the culture of the “perpetual tourist” who drains resources.
Conclusion:
Costa Rica must attract migrants with high economic and social capital — not those who come only seeking cheap rent and public services. The proposed reforms would strengthen the economy and minimize the downsides of unregulated migration.
The key question: Do we want investors and community builders — or perpetual tourists who strain our resources?