COSTA RICA - The Switzerland of Central America

$ osta Rica could be considered the trend setter of Central America when it comes to democracy, peace and economic prosperity. Since the country abolished its national army in 1948, it has served as a model for peace and eventually became the most well-known country in the region for tourism, foreign investment and innovation. Current president, Oscar Arias, is globally known for his pro-business, pro-investment stance on many issues and leadership in ratifying the Central American Free Trade Agreement (CAFTA). He was elected to two, non-consecutive terms and also won the Nobel Peace Prize in 1987. His new successor is Costa Rica’s first female president, Laura Chinchilla, elected in early 2010. Why Costa Rica? A historically stable government, ideal investment climate and comfortable, temperate climate - literally - has resulted in over $1 billion in real estate investment in 2008 alone. Over 200,000 expats are regarded to live in the Central Valley, just one of 7 provinces. Despite its official “3rd World” status, residents and investors of today enjoy access to as many amenities as they are accustomed to in their home countries. Costa Rica is a beautiful, comfortable place to live. With a higher density of microclimates than other place on Earth, anyone would be sure to find his or her optimal place to relocate or retire. It is also one of the few countries in the world with No Capital Gains Tax. Regardless of the country’s increasing international profile, Costa Rica still the idyllic place you have always envisioned. Today, however, there is more city-jungle balance. Costa Rica at a Glimpse Tourism Costa Rica encompasses 6% of the world’s biodiversity in a space comparable in size to Denmark or the Dominican Republic. Nearly 26% of the country is protected, including 32 national parks, 8 biological reserves, 13 forest reserves and 51 wildlife refuges. Tourism arrivals have increased steadily each year for the better part of the past decade. Costa Rica is the role model for Central America when it comes to ecotourism activities. They run the gamut from surfing, sport fishing, sailing, luxury marinas, waterfalls, orchid gardens, bird watching, whale watching, active Arenal Volcano, biological preserves, organic farms, a plethora of coffee tours, artisans of Sarchi, Yoga, tropical plant nurseries, snorkeling/scuba diving, rain forests, the Osa Peninsula, Monteverde Cloud Forest, world class golfing, mountain biking and rappelling, canopy tours, kayaking, horseback riding, historical city tours, volunteer opportunities, backpacking, superb gastronomy and a colorful nightlife scene. Perhaps just as notable is Costa Rica’s intentionally crafted new image as a luxury ecotourism destination. A virtually limitless selection of 5-Star resorts such as W by Marriott, Intercontinental Resorts, the 4 Seasons and boutique hotels in addition to the national Country & Tennis Clubs and all-inclusive ecolodges are just a few examples. Costa Rica has accommodations covered when it comes to their inventory of over 10,000 hotel rooms and thousands more in private homes, condos and developments. Taxes & Investment In addition to the outstanding reality of an absence of Capital Gains Tax, Costa Rica also has low annual property taxes on titled land at an average of 0.25%. Recent legislation has resulted in a new Luxury Home Tax with a sliding scale for houses over $250,000, while beachfront concession properties fall in the 1.5% range. Income generated outside Costa Rica is not taxable, while there are also incentives for in-country business under some National Tourism Institute (ICT) programs. Notable Industries Like Nicaragua, tourism is also Costa Rica’s main industry, followed by agriculture exports: bananas, coffee, sugar, pineapple, dairy products and rice. Intel, HP and other global corporations have situated their microprocessing factories and call centers here to take advantage of the country’s highly bilingual and educated population. Costa Rica has one of the most advanced telecommunications infrastructures in the region. While roads have historically been less than ideal, 2008-2009 signified a new era for Costa Rica with new, major city-to-beach toll roads and highways - taking hours off travel time from the Capital to the Coast. The shortest route is now approximately 30 minutes. Crime Unfortunately, crime has increased in Costa Rica with the influx of such a wide range of international tourism arrivals. While still a safe destination compared to most first-world countries, Costa Rica has a higher crime rate than neighboring Nicaragua and Panama. The government takes the safety of its visitors very seriously and has taken steps to fight crime, such as creating a tourist-specific police force. Most upscale hotels, developments and resorts supplement this with private security. Medical Facilities Costa Rica is now one of the top international destinations for medical tourism. Procedures at the private CIMA and Clinica Biblica hospitals are in high demand. Costa Rica’s doctors are well trained and medical technology is comparable to that of a first world nation, yet a fraction of the price. Experts are expecting continuing growth as high as 20% annually in “medical tourism” as health care and insurance costs continue to climb in the western world. The country received over 150,000 visitors for “wellness travel” in 2008 alone. Foreign residents can also opt into a free government health care program, which includes services at public hospitals.$ shapeimage_1_link_0

Stats

POPULATION 4,253,877

GDP $48.19B

GOVERNMENT Democratic Republic

KNOWN FOR being the “Happiest Nation” in 2009, Most Ecologically Dense Place in the World

Articles & Information

Special Offer House in Nosara Brochure.pdf
New York Times Article - Costa Rica.pdf
Guanacaste Gains.pdf
Financing in Costa Rica.pdf
Legal Guide to Investing in Costa Rica.pdf
COSTA RICA Ranked Best for Business & Investment in 2009.pdf
NEW! - Costa Rica Retirement Guide.pdf
Costa Rica DevelopmentProfile.pdf
Nicoya Peninsula Secret to Longevity.jpg
Nosara-Guanacaste Wellness.pdf