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Advantages To Investing In Costa Rica
Similar to the real estate investment boom in California over 30 years ago, investing in Costa Rica is more promising than investing in other locations now. The drive to invest in Costa Rica is from those who understand the profit to be made and from individuals who wish to own their own piece of Paradise. Currently Fortune 500 companies have found Costa Rica as a great place to open offices.
When making a decision to invest or live somewhere we all take time to weigh out the benefits. One benefit to investing in Costa Rica is the beautiful and unique culture. Other countries may be as affordable yet none can come close to the culture, lifestyle, nature, etc. which Costa Rica has to offer. The country has a population over 3.5 million people not making it large at all but the people have extremely large hearts and welcome new residents and investors with open arms to this country. Oftentimes investors want to invest in another country but language is a barrier. In Costa Rica is not the case as English is the second language so dealing and negotiating real estate in Costa Rica can be done with ease. Costa Rica is the only country outside of the U.S. that has more U.S. residents per capita.
Costa Rica culture also presents the opportunity to visit and even invest in the most beautiful Costa Rican vacation rentals you’ve seen. Each one has breath taking views and opportunities for water sports, fishing or just lying on the beach. In addition to the beautiful beaches, you will find tropical plants and terrain, which you’ve only seen on postcards. The beautiful Arenal volcano is also in Costa Rica and has not erupted in years.
Former Costa Rican real estate investors will attest that the friendliness of the people. Whether you are from a large city or a small town, you will feel comfortable. It is more similar however to small town living. Even in a culture that is developing rapidly, investors and business owners alike will discover that the Costa Rican government is always excited to attract foreign investors. For both business owners and real estate investors, taxes are low in Costa Rica.
Holding property in Costa Rica as non-citizens and non-residents is not difficult. In Costa Rica, almost all property of value, such as land, cars, and even cell phones are held in the names of a corporation. In order to purchase real estate or make any type of investment as a non-resident in Costa Rica, it must be done though a corporation. The entity structure known as an SA is what is widely used. A Sociedad Anonima (SA) is a standard corporation equivalent to a U.S. corporation. One will pay 5-6% to close on property in Costa Rica however, Costa Vista Land takes care of all this for the investor when you buy from them.
It is suggested to hold the land as long as you can, at least 12-24 months, before you decide to do anything with it. Oftentimes the investor does not know where to get the money to invest in the desired property but the easiest way is to look into retirement accounts such as IRAs, 401Ks, etc. It is possible to avoid any penalties by transferring those monies into foreign accounts or by buying foreign property. Your tax advisor or attorney can better inform you on your specific situation and your best options.
Some investors actually choose to make Costa Rica their new home. They receive a good tax break for employment purposes and investment purposes. Income taxes are not paid in Costa Rica, as Americans are accustomed to. Instead, 9% is taken out of employees’ pay automatically
One thing you will quickly discover about Costa Rica culture is that its people live affordable yet beautifully. For the real estate investor, property is beautiful, unique and at unbelievable prices. Whether you are buying rentals, vacation property or lots, investing in Costa Rica is an opportunity you simply should not pass up.
by David Lovendahl, Costa Vista Marketing
About the Author: Costa Vista Land is ‘developing paradise’ in Costa Rica http://www.costavistaland.com. The company buys raw land in large quantities after they have thoroughly surveyed and researched all details. Because of this, Costa Vista Land acquires their properties at discount prices and develops them in less than 18 months. Hence the unique program in which you can obtain developed land at undeveloped prices and why company President, Brad Hogan says, “We are an investment company first and a land sale company second.” Parcel choices range from valleys to mountains, to beautiful coastline property. This lucrative program comes with 100% money back guarantee. Everyone is encouraged to visit Costa Rica, stand on their property and see the beautiful country they have invested in. While visiting, the company pays for your accommodations, meals and transportation. For more information contact 1-877-55-COSTA, or order the FREE 50 minute informational CD at http://www.developingparadise.com.