Citizenship Abroad

3 Reasons to Move to Costa Rica

Discover something new, see the world, feel a new warm climate, feel security and independence, get acquainted with a different culture just a shortlist of reasons.

In this article, we will tell you about the state of Latin America, which is distinguished by a simple procedure for processing documents, a decent standard of living and bright nature.

Costa Rica is a country experiencing a stable economic recovery and strengthening of democratic institutions. Foreigners are respected and expected here, both as tourists and as new neighbors.

Thanks to thriving tourism and a favorable business environment, the country provides a pleasant living environment while maintaining relatively low costs. High-quality free medical services, a decent school education, and a growing technology sector that attracts talent from all over South America, this is what you will find in Costa Rica.

1. Cost of living in Costa Rica

The amount for a comfortable stay in Costa Rica is relatively low. In comparison with any other country with Pacific beaches and a stable economy, Costa Rica stands out in a positive way.

Food prices are tolerable, and the food industry is developed to the extent necessary to feed the population. The prices for the products set by the government. For example, if milk costs 150 columns, then more than one store does not have the right to add a markup.

Local factories produce household appliances to a certain extent. Its quality is not perfect, but it is far from the worst in the world. Of course, imported goods are also available in stores, but they are slightly more expensive.

2. Investment opportunities

Business owners will easily find additional opportunities to implement their ideas. A transparent tax system and a convenient state economy provide a decent space for entrepreneurship.

It is worth adding about talents in the technological field. Intel operates in Costa Rica due to the high skills of local residents, and the established salary in the country allows you to save money for owners.

The state government has organized additional incentives for investment. These include, among other things, exemption from corporate tax payments for the first eight years of operation. Some taxes are reduced by 50% for the next four years. Such benefits apply to certain industries, such as business in the service sector, industrial production, and processing.

3. Costa Rica’s Tax system

The key principle of the tax system is simple and clear territorial division. This means that only those incomes received within the country are taxed. Everything that comes from abroad remains completely untouched by the tax authorities of Costa Rica.

For this reason, Costa Rica is somewhat popular as an offshore jurisdiction.

A striking example of the attractiveness of the tax system is the absence of capital gains tax. There is a small percentage of the profit from business or trade in the country, but the numbers are small.

This system is great for immigrants whose income remains in their home country. You can’t find better jurisdiction in Europe. Any income, whether it is pensions or business profits, is completely saved, which makes it possible to spend time in peace without searching for additional economic loopholes in order to save your funds.

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