Costa Rica´s Best Guide

COSTA RICA INFORMATION AT A GLANCE:

Population -

5,181,000 (July 2022 est.)

Gross Domestic Product (GDP) -

$64.40 billion (expected to reach by end of 2022)

GDP Per Capita - Inflation Rate - Official Currency -

$12,408 (end of 2021) 10.4% (September 2022)

Costa Rican Colón Exchange Rate for APRIL 2. 2023 - 533 BUY - 547 SELL Colones (CRC) per US Dollar Language - Spanish (official), but English is growing. Capital City - San José Population of Capital City - 1,810,000 Time Zone - UTC/GMT -6 hours Seasons - dry season from (December to April) rainy season (May to November) International Dialing Code - + 506 Electricity - 120 V, 60 Hz System of Government - Democratic Republic ( a direct democracy ) Name and Background of Current Leader President Rodrigo Chaves (since 8 May 2022), Was a former Country Director with Capital gains are exempted unless the gains are derived from the habitual activity of the seller or the assets sold are tangible and can be depreciated. Taxed at 15% net Profits. Inheritance Tax - Inheritance and gifts are not specifically taxed in Costa Rica. Real Property Tax - 1.5% transfer tax and 0.25% municipal tax on real property applies. Annual "luxury house tax" also applies depending on the value of the asset. Transfer Tax - 1.50% Sales Tax - 13% Restrictions on Foreign Ownership of Property - None Local Chamber of Commerce - http://www.camara-comercio.com/ American Chamber of Commerce - http://www.amcham.co.cr/ Primary Exports - Pineapples, coffee, bananas, melons, ornamental plants, sugar, beef, seafood, electronic components, and medical equipment. Residency and Visa Requirements - Generally, citizens of the United States, Canada and the European Union countries do not require a visa to enter Costa Rica. Those citizens can enter Costa Rica with a valid passport and remain in the country for up to a maximum of 90 days. Special Benefits for Foreign Residents or Retirees - A new Retiree/Investor Law was passed recently, designed to give more incentives and lower the requirements but it has not gone into effect yet, possibly because interest in moving to CR has grown. Special Benefits to attract Digital Nomads - Yes, a new Pensionado Law passed with several attractive incentives including 2 tax free vehicles importation. the World Bank for many years. Income Tax Rate for Residents - 0-15% Property Tax - 0.0025% of appraised value (slightly more if luxury property. Capital Gains Tax -