| About Costa Rica |
Christopher Columbus called it the “Rich Coast” upon his discovery in 1502. Rich in beauty, rich in ecology, rich in flora and fauna with thousands of species of plants, animals, birds and insects that live in magnificent and sometimes mysterious tropical forests. Costa Rica's wealth of natural resources is so abundant that it even exports oxygen, an essential nutrient for a better, healthier and cleaner way of life. Some call Costa Rica the “Switzerland of the Americas”; others call it “Paradise on Earth” and still others call it “Home”. You can call it what you like but one visit to Costa Rica and the memory of it will be etched in your mind forever. About the size of West Virginia, Costa Rica encompasses about 51,000 square kilometers of enchanting rain forests, majestic mountains, countless virgin beaches, |
some among rocky bluffs, with both white and black sand, enclosed by numerous peninsulas and bays of
unsurpassed scenic beauty. Its natural heritage form one of the world's most outstanding biological
reserve and national park systems. The National Park system covers over 25% of Costa Rica land and
water ways.
THE PEOPLE
“Pura Vida” – “Pure Life” (pronounced - Puda Veda). When in doubt just say: “Puda Veda” that covers
everything. In English it means “Pure Life” and is a phrase you’ll hear and see, everywhere in Costa Rica.
The locals live this expression to the fullest and their love for life is evident on their smiling faces and
in their kind actions to strangers. Some of the happiest people I have ever encountered were Costa
Ricans. And why wouldn't they be constantly cheerful? You would be too if you called one of the
Worlds most beautiful and exotic countries Home.
The expression "Pura Vida", literally translated as "Pure Life", best describes the Costa Rican way of
life. Ticos, as the locals commonly call themselves, is their country's greatest asset and is renowned for
their friendliness. They are warm hearted, gracious, educated, entrepreneurial and ready to accept you
into their country, their lives and their homes. In addition, foreigners are usually pleasantly surprised
to discover how many of their neighbors are also from foreign soil.
THE LANGUAGE
The official language of Costa Rica is Spanish, but a great many Costa Ricans speak English.
Additionally, as Costa Rica continues to attract visitors from the United States, Canada, Europe and
Asia, other languages such as French, German, Italian, Chinese and Dutch are becoming more and more
prevalent.
COST OF LIVING
The cost of living is probably one of the most important issues concerning prospective full-time
residents. Although the cost of living here is less than that of the United States, the difference is not
dramatic. Housekeeping and gardening help is very affordable, as are other conveniences, which are
often considered a luxury. On average, a monthly income from $1,500 to $2,000 will provide for quite
a comfortable lifestyle with good accommodations.
THE CLIMATE
Costa Rica boasts about as many micro climates as could be found in any country in the world. Like it
cool, very cool? Try high up in the mountains above the Central Valley. Like it warm? Try Orotina,
Playa Bajamar, Playa Caldera, Playa Jaco or Playa Puntarenas (Playa is Beach). Like it hot, to very hot
and dry? Try the Guanacaste Gold Coast. Want to live in a rain forest? Like remote? Check out the
OSA Peninsula. Whatever your preference, Costa Rica has something for everyone.
Some areas such as Grecia and Atenas, forty-five minutes from San José, claim the best climate in the
world. In fact, the whole of Costa Rica boasts spring-like climate at least ten months out of the year.
Temperatures in the Central Valley and the mountains average 68º degrees Fahrenheit (20º degrees
Celsius) and in the lower coastal areas, about 79º degrees Fahrenheit (26º degrees Celsius). In the
northern province of Guanacaste they say half the year is like living in Hawaii and the other, like living
in Palm Springs, California.
THE CURRENCY
The national currency of Costa Rica is the Colon. U.S. Dollars can be easily exchanged throughout the
country at any bank, national or private, also at most hotels and money exchange companies. In addition,
nearly all hotels plus most restaurants and shops will accept U.S. Dollars as payment. Canadian dollars
may be exchanged at branches of Banco Nacional and other monetary currencies should be converted in
San José at either Banco Central de Costa Rica or at a currency exchange house. Be certain to check
daily exchange rates at local banks, currency houses or in the local newspaper as it changes continually.
RELIGION
Perhaps as much as 90% of the population practices Catholicism, the country's official religion. Other
religious beliefs exist freely although and are protected by the Constitution as well.
HOTELS
Costa Rica offers a wide variety of hotel, bed & breakfast, and other short and long term
accommodations catering to even those with the most discriminating needs. There is a Hotel to steer
clear of unless you want your Credit Card to be over Charged – Hotel Gran or Grand Hotel in
downtown San Jose. Whether you want to be in the city, at the beach or in the mountains the choices
are endless. There are also many self-contained resorts offering a great range of amenities and
activities from golf, tennis, fishing, diving, and surfing to casinos and day spa facilities. Whatever your
preference, Costa Rica has it!
ACTIVITIES
The variety of recreational and cultural activities available in Costa Rica is unlimited. From sailing,
beach combing, snorkeling, diving, kayaking, water skiing, para sailing, fishing, and surfing at the beach
to hiking and bird watching in the rain forests - the possibilities are infinite. If adventure is what you
seek, you will find it here. You can raft down class III and IV white water rapids, swing through the
trees with monkeys on a canopy tour, bungee jump over a raging river, experience world-class wind
surfing on Lake Arenal or catch a spectacular volcanic fireworks display. Horseback tours to local
waterfalls and hidden beaches are abundant throughout the country as well. Or if more relaxing is your
style, spend a day golfing at any of the number of championship golf courses, pamper yourself at a local
spa or just enjoy a dip in some of the volcanic hot springs. If you're looking for a taste of the cultural
experience, you can enjoy a theater show, visit historical sights and museums, catch a movie, or sample
the wide variety of cuisines found in and around the capital, San José. For those who live outside the
metropolitan area, climb in your car, hop on a bus, or catch a flight on SANSA or Travelair into the big
city for a couple of days.
Sports Fishing Capital “World Record Catches in Costa Rica” Costa Rica has 21 all tackle, 41
line test and 18 fly fishing World Records!!! Come to Where the Big Ones Are!!!
INVESTING IN COSTA RICA
Costa Rica is quickly becoming an International hot spot. As more and more people begin to discover the
beauty and temptation of the "Pura Vida" lifestyle, the more they want to become a part of it.
"When choosing a country to invest in, we find Costa Rica is greatly attractive to investors and their
families." says Ricardo Monge, director of the Costa Rican Investment and Trade Development Coalition
(CINDE), a private, nonprofit organization. And the proof is in the numbers as several International
companies have already chosen this country as a prime investment location.
U.S. based giant, Intel Corporation, recently invested $700 million into an assembly factory and testing
plant, which began operations in 1998. Acer America opened a new customer service facility as a base
to branch out to the rest of Latin America and Firestone is currently doubling the capacity of its tire
factory for export to the United States and other Central America nations. In addition, Lucent
Technologies has opened a corporate office in San José with plans for expansion. Other companies such
as Baxter Health Care, Conaire Corporation and Bali Company are just a few of the many new businesses
to join this growing list. Almost All of the Fast Food Chains from the US are here.
"Costa Rica is at a historic turning point; if we do things right we will grow very rapidly," says Monge.
"We are trying to apply logistics to gain private sector expansion in order to better our
infrastructure. This is crucial to the development of our nation."
Costa Rica, the most politically stable country in Central America, has proven attractive to investors for
its relatively open investment and trade policies. Laws governing private investments are the same for
nationals and foreigners. In addition, there are virtually no controls on foreign exchange transactions
conducted by commercial banks. The exchange rate is determined by the Banco Central of Costa Rica
through open market operations, and has disposable funds guaranteed by the export-import Bank of the
United States and other major Ranking number one as far as investments are concerned, tourism remains
in a dynamic role as Costa Rica's number one industry. A remarkable improvement in tourism has been
noted in the past five years - nearly a 58 percent increase. The visitor count last year of 792,287, as
reported by the Costa Rican Tourist institute's (ICT) statistical department, consisted namely of U.S.
Citizens, followed by Canadians, Germans, Mexicans, Italians, Colombians, Guatemalans, British, Spanish,
French and Chinese.
As a result, there has been a tremendous surge in development within Costa Rica’s hotel sector mostly in
the regions from Guanacaste and Puntarenas to Jaco with a reported $711 million in investments to date.
The total for tourism investment reported last year amounted to $759 million. Some of the major
developments included the Allegro Resorts' Caribbean Village and the $33 million new Marriott Hotel
between Playa Bajamar (Orotina) and Jaco. At present there are numerous other hotel, resort and golf
developments in the planning stages or under construction along the Pacific Coast line where the ICT
continues to promote development of the area. The small town of Orotina is bustling with the future
opening of a new highway from San Jose to their little town, closing the driving time to about 45 minutes
rather than 1½ hours to the Pacific Coast. Playa Bajamar (near Orotina) is the closest Beach area to San
Jose.
To benefit the investment climate, the government supports free trade and International competition.
Clearly the most enticing factor for foreign investors has been the country's income tax laws, which
allow complete exoneration of taxes on an average of 8 to 10 years, and 50 percent exoneration for 4
more years depending on the investment. There is virtually no screening of foreign investment in most
areas.
The ICT recently signed a $10 million, 12-step program for tourism development. Last year, they
launched a very aggressive International advertising campaign with the tag line "Costa Rica, No
Artificial Ingredients", which focuses on the country's unsurpassed beauty, adventure and natural
environment, of which one quarter is dedicated to national forests, parks and reserves, and which the
country continues to protect. The ICT and a number of private organizations, such CINDE, have placed
considerable emphasis on facilitating investments and streamlining government services. CINDE's U.S
office in New York aggressively promotes Costa Rica as an investment destination.
A big attraction for tourism type investments is the current incentive law, which offers a 12-year
income tax exemption on non-distributed profits, land tax exemption, and offers duty-free entry to
yachts, sailboats and certain motor vehicles for use in tourist transportation. Additionally, Costa Rica
has one of the strongest U.S. Dollar reserves in Central America (nearly $1 billion). It also has
advanced electric and technological industries and Free Zones continue to be one of the backbones of
Costa Rica’s export and investment promotion strategies, contributing significantly to local economic
growth. Investment in the Free Zones totaled close to $500 million, mainly from U.S. Businesses.
Companies currently under the Free Zone Corporation has close to 100 percent exemption on raw
materials for export on most products. Most of Costa Rica’s export incentives have been undergoing
reforms to serve the International tendencies, and are on a par with tourism development.
Costa Rica remains a member of the World Trade Organization and the Central America Common
Market, and has investment treaties with Switzerland, Great Britain, France, Germany, the Netherlands
and the Czech Republic. Another incentive for investors has been the free-trade agreement under the U.
S. Caribbean Basin Initiative, which guarantees access to the U.S. markets for many products. Under
its Free Market treaty with Mexico, over 8,000 products became tariff-free in 1995. It also has a
free-trade agreement with Panama, and similar agreements are being negotiated with Colombia and
Venezuela. Primary trade discussions have been held with Chile, the market they are currently strongly
targeting. “Bringing in key players such as Intel gives Costa Rica a letter of recommendation. Soon,
other electronic industry firms will follow." It is a prediction that already seems to be becoming a
certainty.
GOVERNMENT
Costa Rica is a free and independent republic and its people have enjoyed a peaceful, democratic way of
life since 1889. The military as a division of the Costa Rican government was abolished in 1948 and is
now prohibited by the Costa Rican Constitution. The current leadership consists of three branches of
government including the President, elected by popular vote for a period of four-years and exercising
executive powers; the Congress, a single chambered legislature, whose members are also elected by
popular vote for a four-year term; and the Supreme Court, acting as the judicial body of the nation.
The Constitution guarantees and protects its people's right to life, freedom and basic civil liberties.
The death sentence was abolished in 1882, which has provided an ideal environment for several
prestigious International human rights organization who has established their headquarters here in Costa
Rica.
The country enjoys a quiet co-existence with its neighbors aided in part by ex-president Dr. Oscar
Arias, Nobel Peace Prize winner, for his negotiating efforts throughout Central America. Perpetual
Neutrality was proclaimed in Costa Rica in 1983.
BANKING
The banking system in Costa Rica is very modern and offers all local and International services. This
includes issuing credit and debit cards, loans and both personalized and computerized banking.
Automatic Teller Machines (ATM's) are available throughout the country and will accept PLUS cards as
well as local ATM cards. Visa credit card advances are easily obtained at most local banks.
TAXES
Out-of-country income is not taxed in Costa Rica and if you are employed in this country, income tax is
minimal. Basic property taxes are six-tenths of one percent of the property's stated value, which is
nominal by North American standards.
CAR RENTALS
There is an impressive choice of car rental companies to choose from in Costa Rica and this can be a fun
way to see the country. It is a good idea to shop around for the best deals though. There is two
Company's to steer clear of: U-Haul and American Car Rental. Costa Rica's highway system is very
good and most areas are paved or have 2-WD passable dirt roads, as is the case in remote and rural
areas. It is important to remember that some roads that may be drivable in the dry season can become
impassable during the rainy reason and may require 4-WD. Renting a 4-WD though is not necessary if
you plan on sticking to the major routes. There are a few tollbooths throughout the country, but the
charge is minimal. Gas stations are plentiful and many are open 24 hours, although if you are heading
into remote areas it's a good idea to fill up when you can and there are no self-service gas stations in
Costa Rica so sit back and enjoy the luxury. Other important tips to remember: pay the extra full
coverage fee when renting a vehicle; if in doubt about road conditions - it's best not to try it; maps are
not always up-to-date and may not reflect current existing road conditions. Do not be afraid to ask
directions, the people in this country are extremely friendly and are always willing to steer you on the
right track. Contact us for more very helpful tips on Rental Cars.
BUS SERVICES
There exists an excellent network of ground transportation throughout the country serviced by private
enterprises. Regularly scheduled trips between San José and all parts of the country are reliable and
very economical. In addition, there are several bus companies that offer scheduled departures to
Panama, Nicaragua and the rest of Central America at competitive rates. There are also several
companies that offer micro-bus direct transportation to/from and between the airport and major
tourist spots around the country for about $20 USD.
TAXI SERVICE
Taxi Rates are very cheap on a local bases but MAKE SURE they turn ON THE METER!!! Most will
turn it on as soon as you get in the car but watch for it. When they hit the highway to go from one town
to another be sure to get the price they will charge before you start the trip. You may want to bargain
with them. Normally they will start out some higher hoping to find a sleeper. It is best to get them to
price it in Colons. You may never need it but write the Taxi Car # down after you get in the car or
remember it just in case you have a problem. In 6 years I have only needed it 3 times & that was for
the driver trying to over charge me (A Gringo). If you give the Taxi Company the Car # they will get it
straightened out in a hurry. The driver will get back in line if he knows you are not going for it.
Over all most of the Drivers are very courteous & helpful. They take pride in their country & want to
give you a good impression. They like to give advice & directions. Most of them are a bundle of
information about Costa Rica if you find one that speaks English or you speak Spanish.
TRANSPORTATION
Costa Rica now enjoys the convenience of three International airports. The largest and most frequently
used,located about twenty-five minutes from San José, is the Juan Santamaria Airport. It is serviced
by several major Intercontinental airlines with direct flights between North and South America, Europe
and Asia. The Tobias Bolaños International Airport in Pavas is much smaller and receives flights from
the United States and Canada only. The new airport in Liberia, Daniel Oduber International, in the
province of Guanacaste, began operations several years ago, receiving International flights from the
United States, Canada and Europe, catering essentially to the tourist industry with mostly charter
flights. A domestic network of internal airports also serves local travel needs with daily flights to
popular tourist destinations and other parts of the country from any of the International airports.
There are also several private airline companies that offer charter flights to anywhere in the country
with a landing strip. Their equipment includes twin-engine aircraft, helicopters as well as other
aircrafts.
COMMUNICATIONS
Costa Rica’s communication network is among the very best in Central American. Postal, facsimile,
telephone and cell phone services, as well as electronic mail (Internet), are readily available almost
anywhere in the country.
EDUCATION
Costa Rica provides free education for its residents and boasts the highest literacy rate in Central
America, rivaling even that of many larger and much wealthier industrialized nations. The right to
primary education for both sexes was established in 1869 and has been declared obligatory. In addition
to free public education,there are several high quality private institutions extending from the primary
level up through the university. There are a great number of English speaking schools at all levels.
Although most of these institutions are located in and around San José, the rapid development of the
Guanacaste Gold Coast area has begun to attract some of the private, higher quality schools to the
region.
EMPLOYMENT
Employment opportunities are limited, as Costa Rica gives job priority to its residents and requires work
visas for any foreign visitors who seek employment in this country. Foreign visitors or residents may
own and operate a business here very easily.
HEALTH SERVICES
There are numerous quality hospitals operated by the National Social Security System located
throughout the country. There is one to stay clear of: Hospital Puntarenas. If you need more
info – just ask. In addition,private health care is quite common and considered inexpensive. Privately
operated hospitals offer highly educated physicians and personnel, excellent facilities and
multidisciplinary Medical Corps catering to the needs of many foreign visitors who frequently take
advantage of the better value and best professional medical care offered in Costa Rica. Cosmetic
surgery plus dental and optical care are very affordable and are in particularly high demand.
CRIME
The biggest crime facing Costa Ricans is petty theft. Violent crime is nearly non-existent and virtually
all crimes committed are in and around the larger cities.
ATTORNEY
Before making your choices on an Attorney ask for references. Ask a lot of questions about what they
have done in the field you are looking for. Don’t pay a large amount of money up front. Pay them as
they do the work. If you like you may contact us for information about Attorneys. We have a list of
Attorneys we recommend to stay clear.
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unsurpassed scenic beauty. Its natural heritage form one of the world's most outstanding biological
reserve and national park systems. The National Park system covers over 25% of Costa Rica land and
water ways.
THE PEOPLE
“Pura Vida” – “Pure Life” (pronounced - Puda Veda). When in doubt just say: “Puda Veda” that covers
everything. In English it means “Pure Life” and is a phrase you’ll hear and see, everywhere in Costa Rica.
The locals live this expression to the fullest and their love for life is evident on their smiling faces and
in their kind actions to strangers. Some of the happiest people I have ever encountered were Costa
Ricans. And why wouldn't they be constantly cheerful? You would be too if you called one of the
Worlds most beautiful and exotic countries Home.
The expression "Pura Vida", literally translated as "Pure Life", best describes the Costa Rican way of
life. Ticos, as the locals commonly call themselves, is their country's greatest asset and is renowned for
their friendliness. They are warm hearted, gracious, educated, entrepreneurial and ready to accept you
into their country, their lives and their homes. In addition, foreigners are usually pleasantly surprised
to discover how many of their neighbors are also from foreign soil.
THE LANGUAGE
The official language of Costa Rica is Spanish, but a great many Costa Ricans speak English.
Additionally, as Costa Rica continues to attract visitors from the United States, Canada, Europe and
Asia, other languages such as French, German, Italian, Chinese and Dutch are becoming more and more
prevalent.
COST OF LIVING
The cost of living is probably one of the most important issues concerning prospective full-time
residents. Although the cost of living here is less than that of the United States, the difference is not
dramatic. Housekeeping and gardening help is very affordable, as are other conveniences, which are
often considered a luxury. On average, a monthly income from $1,500 to $2,000 will provide for quite
a comfortable lifestyle with good accommodations.
THE CLIMATE
Costa Rica boasts about as many micro climates as could be found in any country in the world. Like it
cool, very cool? Try high up in the mountains above the Central Valley. Like it warm? Try Orotina,
Playa Bajamar, Playa Caldera, Playa Jaco or Playa Puntarenas (Playa is Beach). Like it hot, to very hot
and dry? Try the Guanacaste Gold Coast. Want to live in a rain forest? Like remote? Check out the
OSA Peninsula. Whatever your preference, Costa Rica has something for everyone.
Some areas such as Grecia and Atenas, forty-five minutes from San José, claim the best climate in the
world. In fact, the whole of Costa Rica boasts spring-like climate at least ten months out of the year.
Temperatures in the Central Valley and the mountains average 68º degrees Fahrenheit (20º degrees
Celsius) and in the lower coastal areas, about 79º degrees Fahrenheit (26º degrees Celsius). In the
northern province of Guanacaste they say half the year is like living in Hawaii and the other, like living
in Palm Springs, California.
THE CURRENCY
The national currency of Costa Rica is the Colon. U.S. Dollars can be easily exchanged throughout the
country at any bank, national or private, also at most hotels and money exchange companies. In addition,
nearly all hotels plus most restaurants and shops will accept U.S. Dollars as payment. Canadian dollars
may be exchanged at branches of Banco Nacional and other monetary currencies should be converted in
San José at either Banco Central de Costa Rica or at a currency exchange house. Be certain to check
daily exchange rates at local banks, currency houses or in the local newspaper as it changes continually.
RELIGION
Perhaps as much as 90% of the population practices Catholicism, the country's official religion. Other
religious beliefs exist freely although and are protected by the Constitution as well.
HOTELS
Costa Rica offers a wide variety of hotel, bed & breakfast, and other short and long term
accommodations catering to even those with the most discriminating needs. There is a Hotel to steer
clear of unless you want your Credit Card to be over Charged – Hotel Gran or Grand Hotel in
downtown San Jose. Whether you want to be in the city, at the beach or in the mountains the choices
are endless. There are also many self-contained resorts offering a great range of amenities and
activities from golf, tennis, fishing, diving, and surfing to casinos and day spa facilities. Whatever your
preference, Costa Rica has it!
ACTIVITIES
The variety of recreational and cultural activities available in Costa Rica is unlimited. From sailing,
beach combing, snorkeling, diving, kayaking, water skiing, para sailing, fishing, and surfing at the beach
to hiking and bird watching in the rain forests - the possibilities are infinite. If adventure is what you
seek, you will find it here. You can raft down class III and IV white water rapids, swing through the
trees with monkeys on a canopy tour, bungee jump over a raging river, experience world-class wind
surfing on Lake Arenal or catch a spectacular volcanic fireworks display. Horseback tours to local
waterfalls and hidden beaches are abundant throughout the country as well. Or if more relaxing is your
style, spend a day golfing at any of the number of championship golf courses, pamper yourself at a local
spa or just enjoy a dip in some of the volcanic hot springs. If you're looking for a taste of the cultural
experience, you can enjoy a theater show, visit historical sights and museums, catch a movie, or sample
the wide variety of cuisines found in and around the capital, San José. For those who live outside the
metropolitan area, climb in your car, hop on a bus, or catch a flight on SANSA or Travelair into the big
city for a couple of days.
Sports Fishing Capital “World Record Catches in Costa Rica” Costa Rica has 21 all tackle, 41
line test and 18 fly fishing World Records!!! Come to Where the Big Ones Are!!!
INVESTING IN COSTA RICA
Costa Rica is quickly becoming an International hot spot. As more and more people begin to discover the
beauty and temptation of the "Pura Vida" lifestyle, the more they want to become a part of it.
"When choosing a country to invest in, we find Costa Rica is greatly attractive to investors and their
families." says Ricardo Monge, director of the Costa Rican Investment and Trade Development Coalition
(CINDE), a private, nonprofit organization. And the proof is in the numbers as several International
companies have already chosen this country as a prime investment location.
U.S. based giant, Intel Corporation, recently invested $700 million into an assembly factory and testing
plant, which began operations in 1998. Acer America opened a new customer service facility as a base
to branch out to the rest of Latin America and Firestone is currently doubling the capacity of its tire
factory for export to the United States and other Central America nations. In addition, Lucent
Technologies has opened a corporate office in San José with plans for expansion. Other companies such
as Baxter Health Care, Conaire Corporation and Bali Company are just a few of the many new businesses
to join this growing list. Almost All of the Fast Food Chains from the US are here.
"Costa Rica is at a historic turning point; if we do things right we will grow very rapidly," says Monge.
"We are trying to apply logistics to gain private sector expansion in order to better our
infrastructure. This is crucial to the development of our nation."
Costa Rica, the most politically stable country in Central America, has proven attractive to investors for
its relatively open investment and trade policies. Laws governing private investments are the same for
nationals and foreigners. In addition, there are virtually no controls on foreign exchange transactions
conducted by commercial banks. The exchange rate is determined by the Banco Central of Costa Rica
through open market operations, and has disposable funds guaranteed by the export-import Bank of the
United States and other major Ranking number one as far as investments are concerned, tourism remains
in a dynamic role as Costa Rica's number one industry. A remarkable improvement in tourism has been
noted in the past five years - nearly a 58 percent increase. The visitor count last year of 792,287, as
reported by the Costa Rican Tourist institute's (ICT) statistical department, consisted namely of U.S.
Citizens, followed by Canadians, Germans, Mexicans, Italians, Colombians, Guatemalans, British, Spanish,
French and Chinese.
As a result, there has been a tremendous surge in development within Costa Rica’s hotel sector mostly in
the regions from Guanacaste and Puntarenas to Jaco with a reported $711 million in investments to date.
The total for tourism investment reported last year amounted to $759 million. Some of the major
developments included the Allegro Resorts' Caribbean Village and the $33 million new Marriott Hotel
between Playa Bajamar (Orotina) and Jaco. At present there are numerous other hotel, resort and golf
developments in the planning stages or under construction along the Pacific Coast line where the ICT
continues to promote development of the area. The small town of Orotina is bustling with the future
opening of a new highway from San Jose to their little town, closing the driving time to about 45 minutes
rather than 1½ hours to the Pacific Coast. Playa Bajamar (near Orotina) is the closest Beach area to San
Jose.
To benefit the investment climate, the government supports free trade and International competition.
Clearly the most enticing factor for foreign investors has been the country's income tax laws, which
allow complete exoneration of taxes on an average of 8 to 10 years, and 50 percent exoneration for 4
more years depending on the investment. There is virtually no screening of foreign investment in most
areas.
The ICT recently signed a $10 million, 12-step program for tourism development. Last year, they
launched a very aggressive International advertising campaign with the tag line "Costa Rica, No
Artificial Ingredients", which focuses on the country's unsurpassed beauty, adventure and natural
environment, of which one quarter is dedicated to national forests, parks and reserves, and which the
country continues to protect. The ICT and a number of private organizations, such CINDE, have placed
considerable emphasis on facilitating investments and streamlining government services. CINDE's U.S
office in New York aggressively promotes Costa Rica as an investment destination.
A big attraction for tourism type investments is the current incentive law, which offers a 12-year
income tax exemption on non-distributed profits, land tax exemption, and offers duty-free entry to
yachts, sailboats and certain motor vehicles for use in tourist transportation. Additionally, Costa Rica
has one of the strongest U.S. Dollar reserves in Central America (nearly $1 billion). It also has
advanced electric and technological industries and Free Zones continue to be one of the backbones of
Costa Rica’s export and investment promotion strategies, contributing significantly to local economic
growth. Investment in the Free Zones totaled close to $500 million, mainly from U.S. Businesses.
Companies currently under the Free Zone Corporation has close to 100 percent exemption on raw
materials for export on most products. Most of Costa Rica’s export incentives have been undergoing
reforms to serve the International tendencies, and are on a par with tourism development.
Costa Rica remains a member of the World Trade Organization and the Central America Common
Market, and has investment treaties with Switzerland, Great Britain, France, Germany, the Netherlands
and the Czech Republic. Another incentive for investors has been the free-trade agreement under the U.
S. Caribbean Basin Initiative, which guarantees access to the U.S. markets for many products. Under
its Free Market treaty with Mexico, over 8,000 products became tariff-free in 1995. It also has a
free-trade agreement with Panama, and similar agreements are being negotiated with Colombia and
Venezuela. Primary trade discussions have been held with Chile, the market they are currently strongly
targeting. “Bringing in key players such as Intel gives Costa Rica a letter of recommendation. Soon,
other electronic industry firms will follow." It is a prediction that already seems to be becoming a
certainty.
GOVERNMENT
Costa Rica is a free and independent republic and its people have enjoyed a peaceful, democratic way of
life since 1889. The military as a division of the Costa Rican government was abolished in 1948 and is
now prohibited by the Costa Rican Constitution. The current leadership consists of three branches of
government including the President, elected by popular vote for a period of four-years and exercising
executive powers; the Congress, a single chambered legislature, whose members are also elected by
popular vote for a four-year term; and the Supreme Court, acting as the judicial body of the nation.
The Constitution guarantees and protects its people's right to life, freedom and basic civil liberties.
The death sentence was abolished in 1882, which has provided an ideal environment for several
prestigious International human rights organization who has established their headquarters here in Costa
Rica.
The country enjoys a quiet co-existence with its neighbors aided in part by ex-president Dr. Oscar
Arias, Nobel Peace Prize winner, for his negotiating efforts throughout Central America. Perpetual
Neutrality was proclaimed in Costa Rica in 1983.
BANKING
The banking system in Costa Rica is very modern and offers all local and International services. This
includes issuing credit and debit cards, loans and both personalized and computerized banking.
Automatic Teller Machines (ATM's) are available throughout the country and will accept PLUS cards as
well as local ATM cards. Visa credit card advances are easily obtained at most local banks.
TAXES
Out-of-country income is not taxed in Costa Rica and if you are employed in this country, income tax is
minimal. Basic property taxes are six-tenths of one percent of the property's stated value, which is
nominal by North American standards.
CAR RENTALS
There is an impressive choice of car rental companies to choose from in Costa Rica and this can be a fun
way to see the country. It is a good idea to shop around for the best deals though. There is two
Company's to steer clear of: U-Haul and American Car Rental. Costa Rica's highway system is very
good and most areas are paved or have 2-WD passable dirt roads, as is the case in remote and rural
areas. It is important to remember that some roads that may be drivable in the dry season can become
impassable during the rainy reason and may require 4-WD. Renting a 4-WD though is not necessary if
you plan on sticking to the major routes. There are a few tollbooths throughout the country, but the
charge is minimal. Gas stations are plentiful and many are open 24 hours, although if you are heading
into remote areas it's a good idea to fill up when you can and there are no self-service gas stations in
Costa Rica so sit back and enjoy the luxury. Other important tips to remember: pay the extra full
coverage fee when renting a vehicle; if in doubt about road conditions - it's best not to try it; maps are
not always up-to-date and may not reflect current existing road conditions. Do not be afraid to ask
directions, the people in this country are extremely friendly and are always willing to steer you on the
right track. Contact us for more very helpful tips on Rental Cars.
BUS SERVICES
There exists an excellent network of ground transportation throughout the country serviced by private
enterprises. Regularly scheduled trips between San José and all parts of the country are reliable and
very economical. In addition, there are several bus companies that offer scheduled departures to
Panama, Nicaragua and the rest of Central America at competitive rates. There are also several
companies that offer micro-bus direct transportation to/from and between the airport and major
tourist spots around the country for about $20 USD.
TAXI SERVICE
Taxi Rates are very cheap on a local bases but MAKE SURE they turn ON THE METER!!! Most will
turn it on as soon as you get in the car but watch for it. When they hit the highway to go from one town
to another be sure to get the price they will charge before you start the trip. You may want to bargain
with them. Normally they will start out some higher hoping to find a sleeper. It is best to get them to
price it in Colons. You may never need it but write the Taxi Car # down after you get in the car or
remember it just in case you have a problem. In 6 years I have only needed it 3 times & that was for
the driver trying to over charge me (A Gringo). If you give the Taxi Company the Car # they will get it
straightened out in a hurry. The driver will get back in line if he knows you are not going for it.
Over all most of the Drivers are very courteous & helpful. They take pride in their country & want to
give you a good impression. They like to give advice & directions. Most of them are a bundle of
information about Costa Rica if you find one that speaks English or you speak Spanish.
TRANSPORTATION
Costa Rica now enjoys the convenience of three International airports. The largest and most frequently
used,located about twenty-five minutes from San José, is the Juan Santamaria Airport. It is serviced
by several major Intercontinental airlines with direct flights between North and South America, Europe
and Asia. The Tobias Bolaños International Airport in Pavas is much smaller and receives flights from
the United States and Canada only. The new airport in Liberia, Daniel Oduber International, in the
province of Guanacaste, began operations several years ago, receiving International flights from the
United States, Canada and Europe, catering essentially to the tourist industry with mostly charter
flights. A domestic network of internal airports also serves local travel needs with daily flights to
popular tourist destinations and other parts of the country from any of the International airports.
There are also several private airline companies that offer charter flights to anywhere in the country
with a landing strip. Their equipment includes twin-engine aircraft, helicopters as well as other
aircrafts.
COMMUNICATIONS
Costa Rica’s communication network is among the very best in Central American. Postal, facsimile,
telephone and cell phone services, as well as electronic mail (Internet), are readily available almost
anywhere in the country.
EDUCATION
Costa Rica provides free education for its residents and boasts the highest literacy rate in Central
America, rivaling even that of many larger and much wealthier industrialized nations. The right to
primary education for both sexes was established in 1869 and has been declared obligatory. In addition
to free public education,there are several high quality private institutions extending from the primary
level up through the university. There are a great number of English speaking schools at all levels.
Although most of these institutions are located in and around San José, the rapid development of the
Guanacaste Gold Coast area has begun to attract some of the private, higher quality schools to the
region.
EMPLOYMENT
Employment opportunities are limited, as Costa Rica gives job priority to its residents and requires work
visas for any foreign visitors who seek employment in this country. Foreign visitors or residents may
own and operate a business here very easily.
HEALTH SERVICES
There are numerous quality hospitals operated by the National Social Security System located
throughout the country. There is one to stay clear of: Hospital Puntarenas. If you need more
info – just ask. In addition,private health care is quite common and considered inexpensive. Privately
operated hospitals offer highly educated physicians and personnel, excellent facilities and
multidisciplinary Medical Corps catering to the needs of many foreign visitors who frequently take
advantage of the better value and best professional medical care offered in Costa Rica. Cosmetic
surgery plus dental and optical care are very affordable and are in particularly high demand.
CRIME
The biggest crime facing Costa Ricans is petty theft. Violent crime is nearly non-existent and virtually
all crimes committed are in and around the larger cities.
ATTORNEY
Before making your choices on an Attorney ask for references. Ask a lot of questions about what they
have done in the field you are looking for. Don’t pay a large amount of money up front. Pay them as
they do the work. If you like you may contact us for information about Attorneys. We have a list of
Attorneys we recommend to stay clear.
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