Don’t Retire in Costa Rica (Reset your Life in Costa Rica)

by | May 12, 2020 | GLC Abogados, Articles

Due to the current global Covid-19 emergency people are leaving heavily populated urban areas and moving to rural locations looking for a healthier environment. Every crisis brings opportunities for those that embrace change. 

If you are considering having a Plan B or if you have the possibility to leave your country and find an ideal place where you can have all the required conditions here is what we have to say about retiring and/or investing in Costa Rica after our 20+ years of experience in assisting foreigners to move down here:

  1. Why would you invest and/or retire in the first country that constitutionally abolished the army and directed those funds to education and healthcare?
  2. Why would you invest and/or retire in a country that has one of the only 7 Blue Zones of longevity in the world?
  3. Why would you invest and/or retire to a country that has the oldest and most stable democracy in Latin America?
  4. Why would you invest and/or retire to a country that has a higher life expectancy than the United States?
  5. Why would you invest and/or retire to a country with a universal public healthcare system so robust that currently has one of the lowest Covid-19 mortality rates in the world? 

We can continue this list for several pages, but our point is: instead of seeing Costa Rica as a retirement destination, see it as a place where you can reset your life and enjoy a completely different reality. 

Costa Rica is currently one of the safest destinations in the entire planet, to its normal political and financial stability now we are adding its unmatched public health system which makes it a very realistic option to explore for your family.

Residency Options

It’s very straightforward to become a Costa Rican resident and with the expert legal guidance you can be eligible under one of the following categories:

  • Rentist (demonstrate a minimum monthly rent of USD 2500.00) 
  • Investor (purchase a CR asset for a minimum of USD 200,000.00)
  • Retiree (demonstrate a minimum lifetime monthly pension of USD 1000.00)
  • Self Employed (start up a local business and contribute to the local economy)

We invite you to explore our Immigration FAQs so that you can fully understand the process involved. 

Real Estate Acquisition

Based on its political stability and as an internationally recognized State of Law, Costa Rica is your best bet to purchase a second dream home or a house to relocate entirely. We invite you to explore the properties that this Central American gem has to offer, luxury homes and condos along its coastline, an estate near a Volcano with a more temperate climate, or a pristine property in the suburbs close to the main urban and cultural environments. 

Costa Rica has a centralized digital national registry so that experienced real estate attorneys can conduct a Title Search and safely guide you into an easy closing procedure. 

If you are interested in learning about the real estate acquisition process please go over our Real Estate FAQs so that you can obtain a complete idea of how the process takes place. 

Business Start-Up

Costa Rica´s economy changed in the mid-90s after Intel selected the country as the best option for their new site. The smaller yet stable country beat regional giants such as Mexico, Brazil, Argentina, and Chile. After that event, hundreds of technological and services startups and Multinationals made Costa Rica their regional business hub based on the high levels of education, strategic geographical location, strong democracy, and stability. 

Currently, you will find an experienced bilingual (Spanish – English) and sometimes multilingual labor force used to international customer service and business standards. 

If you are considering Costa Rica for business expansion and/or relocation we invite you to read about the first step, the easy incorporation process available to foreign individuals without any restriction Companies FAQs 

We can’t finish this publication without discussing our own perception of the Pura Vida Lifestyle, for us more than a lifestyle it’s a philosophy developed organically by the Costa Ricans and that gravitates around enjoying simpler yet more fulfilled life where the basic needs are covered. For the average Tico, life is good (Costa Rica is consistently considered to be one of the happiest countries in the world) as they have, for decades, enjoyed their “rice and beans” (local equivalent for meat and potatoes in the US) and have the certainty that in the event that they get sick, the most beloved institution in the country the Social Security (Public Healthcare System) will take care of them, a fact that ranks the Costa Rican Healthcare System among the best in the world in an unusual condition for a developing country.

Now you can have a better idea of what Pura Vida means, enjoying the simple things of life in a society that has solidarity as a central value, add to that close by beaches, volcanoes, mountains, and the perfect weather. 

 

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