There are many and diverse reasons why Costa Rica always appears on the list of most desired destinations to vacation recently in November 2021 the "Wanderlust Travel Awards” awarded it the award for the third most desired country to travel and recognized it in this new edition of the awards as one of the cities and countries that best faced the pandemic. Whetheryou are a nature lover, because ecological awareness is part of your way of thinking or simply because you like to travel to places where you feel safe and welcome visitar Costa Rica always turns out to be a memorable experience no matter if you come on vacation or business you will inevitably end up falling in love with the relaxed lifestyle and easy life, the delicious national products and the warmth of the hospitality of the Costa Ricans, and very often you end up wondering what it would be like to live permanently here.
If you are one of the many visitors who have fallen in love with this charming part of the world, then this may be the best time of all to make your dream a reality, the pandemic has immensely accelerated the process of change to a virtual economy and many of the companies globally have adopted teleworking as their new way of working allowing thousands of people to rethink their entire way of life. and longing to live what was once a dream, being able to work from paradise, close your laptop and go out to contemplate the sunset on a beautiful tropical beach, buying a property in Costa Rica is the perfect way to experience everything at your own pace. In addition, the lifestyle of expats is very special in Costa Rica and currently with the implementation of the law officially called the "Law of Attraction of Remote Workers and Providers of International Services".
Costa Rica's digital nomads law creates a new immigration classification that allows eligible applicants to receive a non-resident visa that also covers a couple and children under the age of 25. That includes same-sex couples, after Costa Rica became the first Central American nation to recognize same-sex marriage in 2020.
Anyone who successfully applies for a 'remote service provider' visa will receive permission to stay in Costa Rica for an initial period of one year, which can be extended for an additional year, as long as that person has spent at least 180 days of the first year within thecountry.
The visa comes with a full exemption from income tax, though only for the holder, not for their partner or dependents. Holders will also be able to open a bank account in Costa Rica
In addition, it also includes the exemption from import taxes for the import of computers and other technical equipment necessary to perform the work of the digital nomad visa holder, as well as on up to two land, sea or air vehicles. Those vehicles can be for the use of the visa holder, their partner, or dependents.
After this period, they can apply for a permanent residence visa. The government has implemented a whole series of attractive incentives, giving those who wish the opportunity to enjoy a better standard of living at a much lower cost.
This is because services and amenities such as health care, education, and infrastructure are not significantly different from those found in wealthier Western countries, such as the U.S. Other factors, including a low crime rate, a stable and durable democratic government, a focus on public investment, and the absence of defense taxes thanks to Costa Rica's decision to Disbanding their army in the 1940s, means that expats can really relax and enjoy the best. this progressive country has to offer.
The English language is widely spoken and at a very high level, ensuring that expats can almost always communicate with ease. However, the benefits of buying land or homes in Costa Rica don't stop there, as investors and developers quickly discover what the real estate market can offer in relation to both long- and short-term investments.
Being one of the most requested tourist destinations you can get good returns on beach rentals, coastal and urban properties where there is already a large community of expats. There is still a wide selection of land and properties available, coupled with the large number of tourists who come to the country every day, helps to keep the demand for tourism and services high.
At the business level, Costa Rica has an attractive business environment for foreign direct investment (FDI), which is reflected in the economic growth of the region in recent years and the interest of investors in starting a company in the country. Unlike many Latin American countries, there are limited differences in legal requirements, between nationals and foreigners, when they wish to operate commercially in the region.
There are also other factors that make Costa Rica an attractive destination. The percentage of English speakers is well above the rest of Latin America. There is minimal time change for many U.S. investors (Costa Rica uses the U.S. Central Time Zone) and the country has a high level of education.
Therefore, starting a company in Costa Rica with the right local support is straightforward. The government is rapidly moving towards a digitalization of institutional procedures which makes it possible to complete online the process of registering a company in Costa Rica. However, it is still recommended to work with a qualified professional who is familiar with the process.
Finally, while Costa Rica has long been in the spotlight of investors, the growing demand for long-term investments makes buying a property in Costa Rica seem like a good bet. In fact, at the high end of the market, property prices are rising rapidly, and the trend is upward.
