Investing in Costa Rica Property

Talk about foreign investments and there’s nothing that can compare to Costa Rica. Its fame as one of the safest and most attractive country for foreign investment in Latin America holds true today! Thanks go to the Costa Rican government as well as to its departments of ministry and financial institutions. The decidedly pro-U.S. and continental stance regarding the financial security and tax laws are an outcome of their joint efforts. .

Examples are plenty that speak accolades about the investment-friendly climate of Costa Rica. Equally responsible are the government policies that are in the process of making Costa Rica the Silicon Valley of Latin America. A trend that caught up fast, Costa Rica has already drawn in multi-nationals such as Microsoft, Acer, GE and Intel into its realms by offering facilities that have boosted major production and distribution. Evidences are to be found from the bill provided by the World Bank that certified Costa Rica as being the possessor of overall political and economic health as well as the land where the most stable and robust democracies rule in Latin America. The healthy economic growth rate is another factor that made the World Bank pass the felicitation.

While talking about personal investments in Costa Rica, it’s the land which people mostly focus upon. The major economic resources for Costa Rica being its fertile land, it makes more sense to the educated population to invest in it. And though the national forests and picturesque beaches occupy one-fourth of Costa Rica’s land, the remaining three-fourth provides enough space for the personal investors to move in. Areas like Guanacaste, Papagayo, Arenal, Puntarenas, Manuel Antonio, Dominical on the Pacific Coast are considered the prospective sites, while on the Caribbean, Puerto Viejo, Punta Uva, Cocles and Manzanillo are given the first preference.

If the investment is being made for setting up a business in Costa Rica, office buildings and business centers for sale and for rent are plenty. For small-scale manufacturing industries, Costa Rica has numerous numbers of warehouses for sale and on a rental basis. The locations deliver the entire necessary infrastructure, therefore, the investment value always stay upscale.

Costa Rica is one of the world’s primary tourist locales and is rapidly becoming a destination for a huge host of émigrés. The exotic natural environment, fair climate throughout the year and a secure and established government make investment in Costa Rica property very promising. The last few years have seen a major leap in the demand for Costa Rica property where a growing number of people wish to settle down. The scenic beauty of Costa Rica is perhaps the primary focus for most people who invest in Costa Rican property. The sight of the active volcanoes, the reposeful coasts, the beautiful mountains, the lovely rainforests with their bio-diversity and of course all the warm Costa Ricans are reasons enough to make people long to live in Costa Rica and therefore invest in Costa Rica property.

There are various things you should keep in mind while purchasing Costa Rica property. The most important issue involved in buying Costa Rica property is the property registration. The legal ownership of the Costa Rica property should be verified properly and only then should you invest in the Costa Rica property. A thorough research will help you to make sure that you do not make a bad investment and avoid being cheated by frauds. The two most important documents that you will require while buying Costa Rica property are the title documents that verify the registration of the Costa Rica property and the plot map. You can appoint an attorney to handle the legal formalities and procedures involved in buying Costa Rica property.

If you personally know the documentation and formalities that are required for buying Costa Rica property it will be easier for you to supervise the work of your attorney. The essentials involved are a proof of the tax payments, certification proof of the municipality that states the location of the Costa Rica property involved, and the availability of finance (that includes tax, fee for registration and fees for notary) for buying the Costa Rica property and finally a proof that the previous liens, judgments, mortgages, etc. have been resolved.

by: David Lovendahl

The True Cost of Moving to Costa Rica

It had always been a dream of mine to live somewhere warm and tropical, far from the cold winters of Alberta, Canada, so when I was given the opportunity to move to Costa Rica for a year, I jumped at the chance.

I had never visited Costa Rica before and wasn’t quite sure what to expect, even after hours of “surfing the web” for information. I was pleasantly surprised and almost instantly fell in love with the country. A year didn’t seem long enough to experience all the wonders Costa Rica had to offer, so I decided to sell my home in Canada and move here.

There are so many websites, articles and forums dedicated to the subject of “Moving to Costa Rica”, and I read hundreds. I was seeking answers to “what I should and should not bring or ship here.”

My endless hours of research resulted in confusion, frustration, and eye strain. Thankfully, I found The Association of Residents of Costa Rica (ARCR) website and started reading the forum posts. This was a huge help, and after reading the good advice of several posters, I sat down and made a list of what I could and couldn’t live without.

I submitted my list of “Things I Can’t Live Without” to three international moving companies. After receiving their quotes, all around $5,000.00 plus shipping and calculating the taxes, insurance, and duty I realized that I could actually live without or replace the many of the items here for much less.

For example if a product with a CIF value (new cost + insurance + freight) of US$500 is being imported to Costa Rica, the Customs Import Duty is approximately 5%. The consumption tax for the category is approximately 15%. Based upon these figures we would be landed with a bill of $187.89 on only one item. [$25 import duty + $ 78.75 consumption tax + $5.00 Law 6946 + 79.14 sales tax].

When people move to Costa Rica they assume they can bring their car into the country with minimal expense. The reality is very different. To import a car you need to estimate that you will be paying 53% on the value of the car, plus shipping costs.

There was a time that I couldn’t imagine a life without the icemaker in my fridge, the big screen TV, and my shoe collection (a close second to Amelda Marcos), but life is much simpler here. I discovered that I could live without a different pair of shoes for every outfit (and an outfit for every pair of shoes), the TV’s and stereos, my deluxe range and the endless supply of ice.

by: Catherine Cunningham