Before you start

DIMEX residence card
Proof of income — pension letters, an employment contract, or business records
A landmark-format description of your address
A Costa Rican mobile number

Step-by-step

1
Wait for the DIMEX for a full account
Non-residents can open restricted accounts at some banks, but the ordinary products — cards, credit, government payments — expect a DIMEX. This is another reason the residence file is the critical path for everything else.
In personWho: You
2
Open colón and dollar accounts together
Rents, property and many services in Escazú and Santa Ana are quoted in dollars while salaries and everyday prices are in colones. Holding both under one client relationship saves converting at a counter.
In personWho: You
3
Use a state bank for anything involving the government
Banco de Costa Rica and Banco Nacional handle the payment of Migración fees, the marchamo, municipal charges and CAJA contributions directly. Having an account at one removes a queue from your life.
In personWho: You
4
Expect thorough source-of-funds questions
Costa Rican banks apply anti-money-laundering rules strictly and will ask where money comes from, in detail, for even moderate transfers. Bring documentation of the source rather than treating the question as an obstacle — it is routine and the account will not proceed without it.
In personWho: You
5
Set up SINPE Móvil
The central bank's instant transfer service moves money by mobile phone number and is used everywhere, from a feria stall to a plumber. It is free or nearly free between accounts and is the local default rather than a niche product.
Mobile appWho: You
6
Decide whether you actually need a Costa Rican company
Property here is very commonly held through a sociedad anónima or SRL. That is a real convenience for transfer and succession, but companies carry an annual corporate tax, an inactive-company tax return and a beneficial-ownership filing. Understand the recurring obligations before you create one.
In personWho: You

Documents you’ll need

DIMEX
Passport
Proof of income and of source of funds
Landmark-format address description
Costa Rican mobile number

Things most newcomers don’t know

SINPE Móvil is the payment rail everyone actually uses, and it comes from the central bank.

Instant transfer by mobile number, operated by the Banco Central de Costa Rica and interoperable across every bank, is how Costa Ricans pay each other, pay tradespeople and pay at markets. It is not a private app competing for market share — it is public infrastructure, which is why coverage is universal. Setting it up in your first week removes most of your need for cash.

Source: Banco Central de Costa Rica

Holding property through a company is normal here, and it creates annual obligations people forget.

Costa Rican property is frequently held in a sociedad anónima or SRL because it simplifies transfer and succession. What follows is a set of recurring duties: an annual corporate tax, a return for inactive companies, and a filing to the Registro de Transparencia y Beneficiarios Finales identifying the ultimate owners. Companies that stop filing accrue penalties and can be struck off, taking the property with them into a mess. If you inherit a company with a house, find out immediately what it owes.

Source: Ministerio de Hacienda

Source-of-funds scrutiny is heavier than in most comparable countries.

Costa Rican banks apply anti-money-laundering rules conservatively, partly because of the country's regional position. Expect detailed documentary questions about the origin of transferred funds, including for a house purchase deposit, and expect the transfer to be held until they are answered. Coming with a bank letter and a paper trail from the source institution converts a two-week problem into a same-day one.

Source: SUGEF

The dollar is a genuine second currency, and where the line falls matters.

Rents in the expatriate belt, property prices, private-school fees and private hospital bills are commonly in dollars; salaries, utilities, groceries and the marchamo are in colones. If your income is in one and your obligations are in the other, you are carrying exchange risk every month. Match the currency of the lease to the currency you are paid in wherever you can — it is negotiable more often than people assume.

Source: community-reported

Common mistakes to avoid

Attempting a full account before the DIMEX is issued.
Transferring a property deposit without source-of-funds documentation ready.
Inheriting a Costa Rican company with a house and not checking its filing status.
Signing a dollar lease while being paid in colones.
Not setting up SINPE Móvil and paying for everything in cash.

Some of this may be out of date. Spotted something inaccurate? Help us keep it right for the next newcomer.