Costa Rica is a place of beautiful scenery, sunshine and smiles with spring-like climate all 12 months spherical, no revenue taxes on foreign earned revenue, no capital gains taxes, excellent world-class medical facilities, affordable medical plans and populated by the ‘Ticos’ who’re an amiable and very attractive people.

Who Is Moving to Costa Rica? There are estimated to be seventy seven million ‘baby boomers’ within the USA who began retiring in 2008 and it seems there’s fairly a couple of thinking a few Costa Rica retirement. So too are Canadians and quite a few Europeans who are searching for that excellent local weather and a more affordable place to live.

Wealthier folks from all over Central and Latin America are additionally visiting Costa Rica because of political and monetary instability in their own countries.

Once you fear for the lives of your own children because they could be kidnapped in Mexico, Guatemala or Honduras or, you have just witnessed the value of your private home slashed in half as some of our Venezuelan pals have not too long ago, your future can look downproper terrifying.

Politically Stable Country: Not like most nations in Central and Latin America, Costa Rica has been a stable and democratic country because it’s independence in 1948. It has no army, and its citizens enjoy one of the highest life expectancy ranges within the Western hemisphere and higher living standards than their war-torn neighbors.

Costa Rica’s perfect local weather, laid back lifestyle, monetary and political stability makes this ‘rich coast’ seem like paradise on earth to many people.

Enterprise Opportunities: It isn’t just people searching for retirement which can be visiting Costa Rica. We’re seeing young entrepreneurs coming to Costa Rica with dreams of establishing their business here.

This is an admirable objective nevertheless; we should remember that having a working information of Spanish will only take you half way. We should keep in mind that we’re friends in their country, doing business here will be challenging because inefficient bureaucracies, redundancies and duplications are part of on a regular basis business.

Affordable Costa Rica Real Estate: Compared with Europe and many metropolitan areas in the USA, real estate in Costa Rica may be very affordable. Foreigners can simply purchase their own houses and some individuals have decided to build their own homes.

In response to the Global Property Guide, the cheapest city in Europe is Bucharest the place you’d pay US$3,085 per square meter for a 120M2 condominium (1,291.2 sq. ft). So most Costa Rica real estate is forty-50% less than the cheapest metropolis in Europe.

You’ll be able to certainly discover luxury condos in Costa Rica for $2,200 per sq. meter but it’s also possible to easily buy a contemporary, brand new, very comfortable dwelling anywhere close to the enterprise, cultural and entertainment centre of San Jose, the capital of Costa Rica for US$1,500 – $1,750 per square meter. I do know this because I have bought a number of properties here.

For instance, in 2007 I purchased a new, two story 300M2 (three,228 sq. toes) luxury dwelling (350M lot – three,766 sq. toes) in a safe gated apartment neighborhood in an awesome location in Santa Ana, constructed by top-of-the-line builders we now have come throughout priced at US$1,033 per sq. meter.

Property Taxes: When buying a home in Costa Rica, property taxes should be considered but thankfully there is little to worry about because primary property taxes are only 0.25% and even if your private home is ultra-luxurious and the luxurious property tax also applies, all of it adds up to very little..

In response to the Miami Dade County website, on a US$275K property in Miami, you’ll pay about US$6,875 per year in property taxes. With a luxurious apartment in , the property taxes for a home of the identical worth would be less than $1,000 per 12 months so you would save about US $490 monthly just in property taxes.

And for my three,228 square ft luxurious residence in Costa Rica? I paid about $230 monthly for both month-to-month upkeep (swimming pool, landscaping, safety and so forth) as well as property taxes.

Building Your Own Home:

In late July 2009 we completed building our 1,797 sq. toes retirement residence (plus 462.sixty eight sq. ft for the garage space, pila and bodega) on 5,000M2 of land and fully furnished it for less than US$one hundred forty,000

Building your own dwelling is just not for the faint of heart anyplace on this planet but if you are comfortable with the thought then you definately’ll be delighted to know that your labor costs in are low.

Affordable Cost of Living: Only 1% of US households headed by of us aged 62-seventy two have $1 million or more in belongings apart from their home. Now that might sound like a lot of money but $1M at present lasts less than 20 years assuming a rate of return of seven%, inflation of three% and inflation-adjusted annual withdrawals of $75K. Folks understand that their cash will last loads longer with a Costa Rica retirement.

Having said that, demographically speaking, forty-six percent of the baby boomers are nonetheless of their 40s so there are many baby-boomers that have not really began to think about their retirement. The more negative the political and economic atmosphere turns into in the USA, the more receptive they are going to be to the idea of residing and retiring abroad.

How Much Is The Meals? To offer you a real thought about food costs, in considered one of Jo Stuart’s recent newspaper columns, she compared the precise value of a basket of fruits and vegetables purchased here in to the exact gadgets purchased in a California farmer’s market. She spent US$8.75 right here and the same gadgets in California price US$29.47

The underside line is in the event you eat a healthy food plan full of contemporary fruit, contemporary vegetables, a little fish, chicken or beef, you and your family will be healthier and you will enjoy significant financial savings on meals dwelling in Costa Rica.

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