COSTA RICA

The Last Paradise On Earth?

Certainly, Costa Rica is the ultimate paradise. This small state of 50,000 square kilometers between the Caribbean Sea and Pacific Ocean has about the same size as Switzerland. Not only ecotourists and retirees praise it a lot - the country has no military, no nuclear power plants, almost no analphabetism, lots of culture and no winter - thanks to its openness and friendliness toward foreigners and a thousand other reasons, Costa Ruca is the ideal country for people who want to retire from an active professional or business life.

Less Bananas, More Chips!

Costa Rica is the most politically stable and the richest country in Latin America. Profound changes are taking place right at this moment. The government still controls highway construction and maintenance, traffic, telecommunications, electricity and water services. Nevertheless, there are strong signs of liberalization by the current government. The traditional pillars of the export industry (such as coffee, bananas and beef) become less important little by little. Costa Rica is positioning itself as an important and ideal location for  hi-tech companies. Not only an excellent educational system (with German, English and American schools and several specialized universities), but also the country's several duty-free zones play an important role in this process of transformation. They offer sound reasons to companies like the Swiss Schmiedheiny Group, Mercedes Benz, Intel and Microsoft to move to the "Silicon Valley of Latin America". Competent computer engineers offer their services here to foreign customers for a much lower salary than these companies would have to pay at home. Still, Costa Rica is mainly an agricultural country, but compared to other Latin American nations, it boosts much higher living standards. Forty percent of the country's territory is utilized for agriculture, chiefly coffee and bananas. Other important crops are organic vegetables, fruits, cacao, sugarcane, corn, rice, sorghum, beans, potatoes, pineapples, tobacco, cotton, and sisal hemp. The fishing industry, on the other hand, plays a rather subordinate role. Despite the great variety of mineral wealth (bauxite, copper, zinc, led, and manganese) only gold, silver and sea salt are being exploited. Electricity is produced by hydroelectric plants and is partly exported.

The healthiest climate of the world!

The Central Valley or plateau around San José has an altitude of 1,165 meters or 3,880 ft. Because of its location an almost constant temperature of 20ºC or 68ºF all year round, Costa Rica's climate is considered the healthiest climate of the world  according to a NASA research. Depending on the altitude and the region in which you are, you can find a great variety of micro-climates. Cool, wet and very green mountain ranges, where many dairy farmers have established themselves; rain forests and dry tropical forests; the wet Caribbean coast and the dry Pacific coast; and cloud forests. You can find almost everything! The highest-located hotel in Costa Rica, at 3000 m. or 9000 ft. of altitude, experiences frost almost every night. This large variety of climates is responsible for an incredible array of plants and animals -9,000 species of flowering plants, 1,200 of orchids, 850 of birds, 205 of mammals, and 376 of reptiles and amphibians.

Buying Real Estate In Costa Rica!

Buying and owning real estate in Costa Rica is possible with almost no limitations even for non-resident aliens. Special restrictions apply to a 50-meter coastline which is of public domain and a 150-meter coastline for which one needs a management plan. The real estate business in this country lacks any kind of education requirement or regulation as its agents here don't have to pass any tests and don't have to respect any code of ethics. Therefore, it is extremely important to get in touch with a so called Buyer's Agent. He ore she will safeguard the interests of the buyer exclusively.

Prices for real estate are very attractive. Small, nice houses with a pretty garden in a preferred neighborhood are available starting at $100,000. For extra expenses (real estate taxes, land taxes and stamp duties) add about 6% of the total investment. The closing fee for the lawyer is about 1.5%. It shouldn't be hard for an experienced Buyer's Agent to find safe investment properties which yield at least a 12% return.

The preferred locations!

Immigrants who stay in Costa Rica prefer the dry regions of the pacific coast and the mild districts of the central plateau around the capital city of San José. Dairy farmers who came from Switzerland, Italy, Austria and Germany settled in the higher and cooler areas of the mountains. Preferred residential districts in San José are Rohrmoser, Los Yoses and Cariari. The preferred suburbs are Escazú, Santa Ana and La Garita. Of all beaches the most famous and exclusives are Flamingo, Conchal and Herradura, because of their five-star hotels, luxury condos, big golf courses and marinas, and high-class residential subdivisions with any luxury imaginable. But along the country's 1,800-km. coastline you can find endless untouched beaches, not to mention the mountains. For US$100,000-200,000 one can buy farms of 200 acres or more.

How About Permanent Residency?

Permanent residency for retirees and other people who want to get out of the active business life is still available with almost no restrictions, even though things are changing little by little. There are different kinds of residency. One category is for retirees (pensionados) who receive a monthly income of at least US$600 from abroad. There's also one for the retirees called rentistas. They need a monthly pension of at least US$1,000 (coming from Costa Rica or through a bank deposit). Another one is for investors with US$200,000 of investment in the industry. Finally, there are company, student and refugee-visas, and residency for those with Costa Rican relatives.

More Facts About Costa Rica!

You will find Costa Rica (Spanish for "Rich Coast") between Panama and Nicaragua in Central America. With 50,000 square kilometers, it is a little bigger than Switzerland. Ten percent of the country's 4 million inhabitants live in San José, and more than half of the population lives in the Central Valley around the capital in less than 20% of the total territory. Costa Rica is a founding member of the United Nations since 1945. It has a length of about 500 km. and a width of 150 km. There are several active volcanos here: Irazú, Poás, Rincón de la Vieja and Arenal, the most active of all with eruptions every 15 minutes. The highest mountain, Cerro Chirripó stands at 3,820 m. or about 12,000 ft. high. The coastline, with its three peninsulas (Osa, Nicoya, and Papagayo) has a length of 1,800 km. About one sixth of the country's territory has been set apart for national parks or wildlife refuges (that's more than half of the inhabitable territory of Switzerland). The country also includes famous Cocos Island, which lays 500 km off the Pacific coast. Eighty percent of the population is of Spanish origin. Most of the black and mulatto populations (7%) live in or around the harbor town of Limón on the Caribbean. About 40,000 Indigenous live mostly in isolated forests. Up to this date, some 250,000 foreigners live in Costa Rica.

More Teachers than Cops!

We believe that one of the main reasons Costa Rica is called the Switzerland of Central America is its educational system. Compulsory education exists since 1843. Costa Rica's high education levels - besides the absence of a military - are probably what make it the most politically stable country in Latin America.

The country of endless possibilities!

Costa Rica's industry mainly processes agricultural products. The production of other consumer goods is still just taking off. However, there are many business incentives to bridge these gaps. Many foreigners fall in love with tourist projects, especially those related to ecotourism. Many hotels are being built, bought and managed by foreigners. Tourism has developed into a very important source of foreign currency. The national economy is made up of services (58%), industry (26%), and agriculture (16%).

Finally A Few Tips!

Unfortunately, nothing is perfect in this world. You should not compare Costa Rica to Swiss perfectionism; life here is just different. You can enjoy endless beaches and endless natural wonders. But some beaches and other places can be dangerous and you should avoid them alone or visit them along with a group or a guide. A foreigner can be recognized almost immediately by his language or hair color. And just like anywhere else on this planet, there is never a shortage of people who think they should take advantage of this handicapped. Many things are more expensive: lawyers, hotels, tours, admission tickets, services and even fruits on the market. It pays off to first ask or contact a trusted person.