Posted on Aug 22 , 2010 in Info to Go

Investing in Costa Rica

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Investing in Costa Rica

Costa Rica remains one of the safest and most attractive country for foreign investment in Latin America. The Costa Rican government, its ministries and financial institutions maintain a decidedly pro-Us and continental stance in regard to financial security and tax laws. This investment friendly climate and government policy of making Costa Rica “the silicone valley” of Latin America has enticed commercial leaders such as Microsoft – Acer – GE – Abbott Laboratories- Continental Airways and Intel Corporation to make sizable investments in Costa Rica, both financially and physically with major production and distribution facilities. Western Union has chosen Costa Rica to host its Latin American regional operations center. The World Bank has given Costa Rica an excellent bill of overall political and economic health. At its annual conference in El Salvador the bank lauded the country as possessing one of the most stable and robust democracies in Latin America. It went on to praise the Costa Rica’s “healthy economic growth rate”

Costa Rica’s numerous free trade zones and tax holiday opportunities are extremely enticing. They offer benefits such as exemption from import duties on raw materials , capital goods, parts and components, unrestricted profit repatriation, tax exemption on profits for eight years and a 50% exemption for the following four years. Costa Rica is building a competitive advantage for itself and the many high tech companies who have chosen or are pondering the option to operate there. It is a country at a turning point in integrating itself into the modern world economy.

Real Estate

All individuals and private companies, local or foreign, can own land and property in Costa Rica. Few restrictions apply, the most important being physical occupancy and a 50- meter limit from the beach on oceanfront property. Potential real estate investors and their lawyers must first go to the National registry for a title search. Then to the Ministry of the Enviroment and Energy for an environmental impact study and the local municipality for zoning laws and building permits. Certain banking institutions now consider mortgages on Costa Rica properties bought by US non residents.

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