What do you need to know about life and investments in Costa Rica?

Overview of Costa Rica

Costa Rica is a unique country that holds a special place in Central America due to its characteristics. With a population comparable to that of a small city, the republic is home to about five million residents, around 300,000 of whom live in the capital, San José.

Despite its compact size, Costa Rica is known not only for its high degree of political and social stability but also for its high standard of living, making it one of the most prosperous countries in the region. The local economy shows significant achievements, and income levels are generally among the highest in Latin America.

By the way, according to statistics, the level of corruption in Costa Rica is rated quite high — in 2019, the country ranked 44th in the global corruption index, ahead of only Latvia.

Nature and climate

When it comes to natural beauty, Costa Rica never ceases to amaze. Here, ocean coastlines, majestic mountains, picturesque volcanoes, and waterfalls coexist harmoniously. The country's climate is quite favorable, with average temperatures ranging from 23 to 25°C.

Frequent rains create favorable conditions for the growth of greenery and the formation of ecosystems, where many representatives of flora and fauna live. Moreover, there are 74 reserves in Costa Rica that are renowned for their diversity.

The "Residence Permit by Investment" program

Speaking about opportunities for foreign citizens, it is worth mentioning the "Residence Permit for Investment" program, which opens up prospects for those who wish to adapt in the country by investing funds. To successfully obtain resident status, a number of conditions must be met, including investments in the country's economy.

Investment directions

• Real estate
• Other assets
• Forest fund

The minimum investment amount starts at 200,000 dollars; however, during the pandemic, this threshold was temporarily lowered to 150,000 dollars. The exact duration of this benefit is currently unknown, but historically, such restrictions are reviewed in the fall.

This initiative may have been developed in support of the economic situation in the country and could remain in effect until 2024, although this is not yet formally stated in the legislation.

Requirements for candidates for residence permits

The requirements for candidates applying for a residence permit are also quite important, including the mandatory absence of criminal records. Additionally, holders of temporary residence permits can move to Costa Rica with their families: spouses and children.

However, it should be noted that they will not be able to find traditional employment, which creates incentives to look for remote work. There is also the possibility of starting their own business or taking on a high position, such as a company manager.

Conditions for extending a temporary residence permit

To extend a temporary residence permit, certain conditions will be required:

• It is necessary to preserve investments.
• You need to stay in the country for at least 90 days within a year.

After two years of living with a temporary residence permit, it will be possible to transition to obtaining permanent resident status.

San Jose is a cultural and business center.

San Jose, being not only the capital but also the most important city of Costa Rica, serves as a center for business and cultural events. If you are interested in real estate, immigration, or investments, it would be beneficial for you to subscribe to specialized resources that provide timely and relevant information.

Conclusion

You can invest in Costa Rica in several areas. There are three key options:

• Acquisition of real estate
• Investment in various assets
• Funding for the forest fund

There are no restrictions on the type of property — it can be either residential or commercial in any area of the country.

General information about the investment program

The investment program covers both new and existing real estate properties. It is worth noting that the government does not have an approved list of developers' projects, so potential investors have the opportunity to choose any properties that match their preferences.

However, it is important to remember that the property must be intended for commercial use. For example, if an investor decides to buy an apartment, it should be rented out. In this case, there is the option to separately purchase a residence for personal living or to register it under a company, which effectively allows one to rent the apartment from oneself.

Selection of objects and financial goals

According to Ivan Barkhatov, an expert from Russia Sotheby’s International Realty, the choice of investment properties largely depends on the financial goals of the clients.

Conclusion

In conclusion, Costa Rica represents a unique combination of a favorable economy, low levels of corruption, and incredible natural beauty, making this country attractive for living and investment. I believe that it is these factors combined that create optimal conditions for foreign citizens wishing to obtain residency through investment.

Investment residency program

The proposed residency program for investment allows for effective engagement in the country's economic life, whether through real estate, other assets, or even the forestry fund. Moreover, the minimum investment thresholds set during the pandemic make this opportunity more accessible for many interested individuals.

Selection of investment objects

However, it is important to remember that the assessment of investment success depends not only on the amount but also on the careful selection of assets that take into account market development and local trends. Personally, I see great potential in investing in real estate on the coast and in the capital — it is precisely there that demand is steadily growing and excellent opportunities for generating income are being created.

Advantages of Costa Rica

• Favorable ecosystem
• Low level of corruption
• High incomes of the population
• Attractive investment conditions

Result

In summary, I would like to emphasize that investing in Costa Rica is not just a financial initiative, but also an opportunity to become part of a country rich in culture and nature. Thus, it can mark a new stage in life for those who are ready to discover this amazing country. I hope this review helps you better understand the advantages of Costa Rica and influences your decision to invest in its economy.