Costa Rica is already attractive to foreign investors and one of the principal reasons is that it allows them to take 100% control of real estate and business investments. (http://tinyurl.com/2ahgd4s) There is no requirement for local participation in asset ownership, with the exception of certain property zones in coastal areas. It also is a low tax environment, as the average property tax rate is ½ of 1% of recorded value, per year. Foreign retirees can add these investment advantages to easing immigration rules, as they consider Costa Rica.
The government estimates that 10,000 foreign retirees will make Costa Rica their home in 2010 and will increase national income by over $300 million (USD). This economic activity will come in many forms including house payments, food, medicine and recreation, and also from the wages of the new jobs that will be created. The capacity of the country to accept these new retirees each year is also the focus of the new national priority.
Future installments will address more dimensions of Costa Rica’s new national priority to attract Baby Boomers to make the country their new home. For perpsectives on adding Costa Rica to your life: http://www.yoursummerlandhome.com.