FAQWill I be safe?
The fact that more than one million tourists visit Costa Rica each year does not happen by chance.
Can I drink the water?
Yes you can. But bottled sping water is available in all grocery stores, big and small, and is recommended around the coast and in remote regions.
What is The Maritime Zone?
Be aware that coastal properties are governed by different, and more complex, regulations than other properties.
If I decided to stay longer, can I get a visa while I am there?
You just have to leave the country for 72 hours, upon returning to Costa Rica the permit will be renewed automatically for 90 more days.
Immigration and Residency
Costa Rica offers different ways to legalize your status: -temporary resident -pensioner – Rentista - investor. For more legal information contact the costarican consulate or consult with an attorney who specializes in Residency because the laws and requirements change.
Will I Find Good Health Care?
Costa Ricas public health system is guaranteed for every citizen and the quality of care is one of the highest in Latin America.
Is There Good Insurance Available?
Yes and we recommend that you contact Garrett and Associates, www.segurosgarrett.com
Should I Form a Corporation?
Many foreign individuals starting a business in Costa Rica or merely purchasing real estate for investment purposes decide to use a corporate entity as the owner of such.
What Is A Field Agent/Buyer's Agent ?
In Costa Rica, there is little governmental regulation of the real estate industry. In general, a good agent performs a more critical role than stateside agents as the system in Costa Rica is far less sophisticated
What is the Weather Like?
Costa Rica lies in the tropics, between 8 and 11 degrees north of the equator.
It's no secret that over the years, Costa Rica has become a hotspot for expats. This might have something to do with the fact that Costa Rica is the most democratically stable country in Central America and boasts 5% of the world's flora and fauna in one tiny postage stamp sized country on this beautiful planet of ours. Then again there is the weather factor.
The weather in Guanacaste is tropical all year long and experiences the least rainfall in the entire country. A little known fact is that Costa Rica is located below the 10th parallel. What does that mean? Well, it means that hurricanes, except is very rare extreme conditions, can not form below the 10th parallel. No hurricane season here folks!
People
Costa Rica has about 4 million inhabitants and an annual growth rate of about 2%. About 60% live around San José and in the central highlands.
Taxes
MORE GOOD NEWS! Here's one of the real perks. Real Estate taxes here are painless. Taxes on a $200,000.00 home are about $250.00 per year. A full time gardner costs about $400 per month , a live-in maid is about the same. Consult with your lawyer and/or accountant if you buy a property over $200,000 because there may also be a "luxury tax." You are allowed to sell one property per year without having to pay any capital gains tax in Costa Rica. If you are a U.S. citizen, you should consult with your accountant regarding disclosures to the IRS of assests outside of the U.S.
Financing
Financing real estate in Costa Rica is not always an easy task, but possible.
Bank financing is similar to that found in other countries. However banks will only finance up to about 60% of their appraised value of the property and there are restrictions if the property is your home, a rental or commercial.
