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Expat Costa Rica

For those expats looking for a truly exotic place that is not that far from home, one place that is sure to raise an eyebrow is Costa Rica. Costa Rica borders Panama to the South and Nicaragua to the North; it also offers both the Caribbean Sea and the Pacific Ocean. Costa Rica is much more economically and politically stable than many of its neighbors to the north and for many expats looking for plenty of nature, Costa Rica provides plenty of eco-tourism.

Climate

Being fairly close to the equator, Costa Rica offers a tropical climate. The average temperature for the year is relatively stable within the high 70's with hotter temperatures in November through January and a cooler period that runs from May through June.

Costa Rica has two specific seasons: The rainy season from May to December and the dry season which usually comes in January and lasts to April. Costa Rica also has some of the highest peaks in all of Central America and they influence weather patterns.

Government

The government of Costa Republic (officially the Republic of Costa Rica) is a constitutional democracy that has been quite resilient over the decades. As many problems are apparent throughout Central America, Costa Rica has been far more stable than many of its neighbors.

Generally speaking, for US tourists and expats, you can visit Costa Rica for up to 90 days with a valid passport. For more information on specific requirements, you can access the Costa Rican Embassy.

Tax System

For the most part, Costa Rica has moderate taxes. The top income tax rate for individuals is 25 percent. The top tax rate for corporations is 30 percent. It should be noted that there are other taxes to be concerned with. For instance, there is a general sales tax and a tax that is levied on interest.

Medical Care

Medical care is adequate within the city of San Jose (the capital city). However you might find it difficult to receive proper medical attention in outlying or rural areas in the country. If you are seriously ill or injured, your best bet is to be evacuated out of the country.

For medical service, most doctors and clinics require that you pay in cash or with a credit card at the time of treatment. For those looking to stay in Costa Rica for the short term, you can purchase travelers insurance that includes medical. Be sure to purchase a plan that includes medical evacuation.

Real Estate

As with all foreign countries, before you buy real estate, it is important to talk to an attorney in the area to make sure you are eligible to purchase property, and that all taxes, fees, etc are taken care of properly. While corruption for the most part is low, the courts can take quite a long time to settle property disputes.

As far as real estate prices are concerned, they can vary from extravagant in the top areas and beachfront properties to dirt cheap in back-country locales. Rental prices are moderate to low as well, with some of the best areas seeking the same high rates as found in the U.S.

Visit 506Properties for more information on Costa Rica real estate.

Shopping

As far as shopping goes in Costa Rica, you will find a large selection of goods, both imported and produced within the country. The economy in Costa Rica is much healthier than other Central American countries, with a relatively high standard of living. However, rich and poor disparities are quite apparent. The Costa Rican currency is the colon and in recent years, the government has strived to reduce inflation. Today, the colon floats between both the US Dollar and EU Euro to try and keep inflation under raps.

Within the city of San Jose, you will find just about any product you desire. In addition, there is plenty of entertainment found whether you are looking for restaurants, bars or night life. For nature lovers, Costa Rica offers some of the best eco-tourism in the world. In fact, one of the reasons it's such a major draw is due to its natural beauty. For those that love the sea, there are two to choose from; the Pacific Ocean and Caribbean Sea.

Cost of Living

The cost of living in Costa Rica is quite comfortable for most American expats. The per capita income for Costa Ricans is about $13,000 per year. While the dollar has weakened around the world, generally speaking you will get more out of your US dollar in Costa Rica than in Europe or Asia. For the most part, high-quality living accommodations can be expensive, especially in select areas, but for moderate housing, expect it to be much more affordable than back home in the states. For nature seekers, you can stay in rural areas for next to nothing.