If you are looking for financial reasons to move to Costa Rica, we have compiled some of them for you!
In this article, we’ll talk about Costa Rica, a Latin America country known for its moral standard and bright nature.
Costa Rica is a country where the economy and democracy are getting stronger day by day. Here, they respect foreigners both as tourists and as new neighbors. Thanks to thriving tourism and a favorable business environment, the country provides a pleasant living environment with relatively low costs. High-quality and free healthcare, a good school education, and a growing technology sector that attracts talent from all over South America, this is what you’ll find in Costa Rica.
Cost of living in Costa Rica
The budget required for a comfortable life in Costa Rica is relatively low. In comparison with any other country with Pacific beaches and a stable economy, Costa Rica stands out positively. Food prices are tolerable and the food industry has developed sufficiently to feed the population. The government determines the price range of products.
Local factories can produce household appliances. The quality isn’t perfect, but it’s far from the worst in the world. Of course, imported goods are also available in stores, but they are a little more expensive.
Investment opportunities in Costa Rica
Business owners will find excellent opportunities to implement their ideas. A transparent tax system and a decent state economy always provide a viable space for entrepreneurship.
Let’s also talk about the positive things in the tech industry. Intel operates in Costa Rica because of the high skills of local people. We should note that the tech sector in the country is developing day by day.
The government also provides additional incentives for foreign investors. These include corporate tax exemption for the first eight years of operation. They also reduced some taxes by 50% for the next four years. These incentives apply to certain industries, such as jobs in the service industry, industrial production and processing.
Costa Rica’s Tax system
The basic principle of the tax system is simple and clear territorial division. It means that only income generated within the country is taxed. The Costa Rican tax authorities do not interfere with any income from abroad. For this reason, Costa Rica is also 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 tax on profits from business in the country, but the numbers are small.
This system is very beneficial for immigrants whose income stays in their home country and allows you to spend time in peace without looking for economic loopholes to protect your funds. You probably won’t find a better jurisdiction in Europe.