Money investments in CR banks

[CHRISTIAN CLAVET]

Hi Jason, do you know if we need to be pensionado or rentista to open a CR bank account in order to make short-term interest investments? I read about good interest rates by Coopelianza..

[JASON HOLLAND]

Hi Christian,

From what I understand, even if you’re not a resident you can get certificates of deposit at Costa Rican banks/credit unions. Other investment products might be available as well. I would suggest contacting some banks directly to see what the procedure would be. I have had friends who’ve gotten some nice returns on CDs.

[MICHEAL LEVINE]

I have it on good authority that only people with a resident visa can open an account in Coopealanzia. Not necessary in other banks but they want evidence that you own property (electric bill, for example).

[CHRISTIAN CLAVET]

I think it isn’t the good time for canadian money exchange with colones even with good interest rates… but as soon the situation will be more appropriate I will consider doing the move. Which bank can you suggest me to do business with in first ?

Thanking you in advance.

[JASON HOLLAND]

Hi Christian,

I can’t make any personal recommendations on which bank to do business with. But if you refer to my recent Insider Communique on banking there I list the national and private banks that operate in Costa Rica. I think your best bet is to research those, as well as other banks and credit unions in Costa Rica, to see which one best fits your needs.

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