There is a reason why Costa Rica is considered to be one of the most sought after retirement destinations by Americans. The natural beauty of the country, spectacular beaches, low cost of living coupled with surprisingly simple immigration procedures and the friendly people make this an ideal location for retirement.
Many people who came to the country as visitors fell in live with the place and chose it as their retirement destination. So here are some of the benefits of retiring to Costa Rica:
The Low Cost of Living: The retirees dollar goes a long way in Costa Rica and isn’t that what you want; a luxurious lifestyle without the expensive price tag. You can afford the kind of amenities that you would never be able to dream of in the US. For instance you could hire a maid foe just a few hundred dollars a month. A couple can live a comfortable life for as little as $1200 per month and you could live in luxury for $2000. Everything from gas, food to public transportation is considerably cheaper as compared to the United States. And most utilities are priced at 25- 30 % of their cost in the US. Add to this the vast expanse of white sandy beaches, the breathtaking natural beauty, the lush green rainforests and the host of activities that the country has to offer.
Retirement should be all about tranquility, an unhurried pace of life and leisurely ways and that is exactly what the country offers with its trademark Latin American lack of punctuality and the ‘hasta mañana’ attitude.
You can spend long lazy afternoons fishing at the world class marinas or idling away at the beach. The year round sunshine is perfect to get a wonderful tropical tan.
For golf enthusiasts the country offers some of the best golf courses in Central America and of course there are opportunities for several other sporting activities like boating, kayaking, surfing, etc.
The immigration laws are surprisingly simple. You can either opt for the ‘pensionado status’; for which you will need to receive a minimum income of $600 per month or the ‘rentista’ status for which you will be required to receive an income of $1000 per month for at least five years. Both cards can be renewed every two years for just $100. As an immigrant to the country you cannot take up employment in the country unless you have a permit to do so, but you do have the right to own a property and to set up your own business.
There are numerous lucrative investment opportunities in Costa Rica in varied sectors like agriculture, live stock, ornamental plants and flowers, real estate, tourism, hospitality and even equities.
Costa Rica offers a very stable political, social and economic environment. The country has low incidence of violent crime so it’s a very secure place to retire to.
Since you will be residing in a foreign country you will not be taxed on income earned in the foreign country. Also, pensioners can avail of several tax exemptions and incentives.
However, the growing popularity of Costa Rica has created an unprecedented demand for real estate thus causing an upsurge in the prices. But you can still get a property for bargain prices and this is the right time to purchase real estate in Costa Rica.
So if you are considering retiring to Costa Rica act now, take a vacation to the country and soak in the environment there is a strong likelihood that you may want to go back over and over again.
