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Beginning the 23rd of December of 2008, the Transit Law entered into effect, whose effects society hasn't stopped feeling, nevertheless, I would like to comment a temporary provision that is very important to recover and in times of economic crisis, takes on a great importance.
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Costa Rican residency law has always been a bit loose with its reins as those residing in Costa Rica under the title of being a permanent resident only had to physically reside in Costa Rica for a total of four months out of the twelve month time period in order to be considered permanent residents of the country. |
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Just like in most of the countries all over the world, Costa Rica also relies on taxes paid by the constituents in order for the government to function. The funds usually go to public services to further improve the country. |
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The real estate economy is making a big boom in Costa Rica, no doubt about that. This claim is evidenced by the sudden demand for construction materials for the creation of buildings in the city areas and putting up of resorts and other structures in coastal areas of this Latin American paradise. Figures revealed that there’s a whopping increase of 250 percent in terms of construction within the past three years. Now that is really something!
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Now that you are comfortably settled in Costa Rica, you may start considering other options while living in this Latin American paradise such as starting your very own business or corporation!
Many foreign residents have been buying real estate not just for a place to stay but for a place to start their own businesses. This is a wise decision for most people because the money used to purchase the land may be regained by having a business. Aside from that, you have the flexibility in terms of managing our time and you also get to enjoy some of the benefits set by the Costa Rican government for businessmen such as lower tax rates.
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Costa Rica Law
