Living in paradise: Emigrating to Costa Rica

Costa Rica – a dream for nature lovers and those seeking peace and quiet

Dense rainforests, beautiful beaches and majestic volcanoes – Costa Rica offers breathtaking landscapes that will delight any nature lover. It’s no wonder that this Central American country is becoming increasingly popular with emigrants.

Uncomplicated immigration and attractive tax regulations

Costa Rica is characterized by a comparatively uncomplicated immigration process. Pensioners and financially strong people can settle down without major hurdles with the “Pensionado” or “Rentista” program. Another plus point: the territorial tax system allows foreigners who receive income exclusively from abroad to live largely tax-free. The attractive offer is rounded off by a well-developed and affordable health system, which also makes Costa Rica an interesting destination for older people.

Country and people

With around 5 million inhabitants, Costa Rica is a relatively small country that nevertheless has a diverse population. In addition to the majority of ethnic Costa Ricans, there are also numerous migrants living in the country, especially from Nicaragua and the surrounding countries. There are also emigrants from North America and Europe who are attracted by the quality of life and the natural beauty of the country.

Tax-free dream or expensive illusion?

Costa Rica not only attracts with its beautiful landscapes and a relaxed attitude to life, but also with an attractive tax system. But before you emigrate headlong to paradise, you should know the details.

Territorial tax system: advantages for foreigners

Costa Rica, Panama and Nicaragua have one thing in common: a territorial tax system. This means that income from abroad is tax-free in these countries. Ideal for retirees and pensioners who want to enjoy their pensions and savings abroad.

Local income: tax brackets and differences

The situation is different with local income, however. In Costa Rica, this is taxed at tax rates of up to 25%. A distinction is made between income from employment and self-employment.

Self-employed people have it much better here: the top tax rate of 25% only applies to annual incomes of around 25,500 euros. Employees, on the other hand, have to pay this from an income of around 5,900 euros.

Cost of living: More expensive than you think?

Are you dreaming of a life in paradise at a bargain price? Then you should be prepared for a surprise. Because Costa Rica is not cheap.

Imported food, familiar comforts and luxury items often cost more than in Germany. Depending on your lifestyle, Costa Rica can even be more expensive than your old home.

Health care: Pros and cons

The quality of health care in Costa Rica varies from region to region. In densely populated areas it is usually good, but in rural areas it can be problematic.

Advantages of Costa Rica:

Costa Rica offers excellent health care compared to other countries.
Life expectancy is around 80.85 years.
The health system is divided into a public and a private sector.
Treatment costs are significantly lower than in Germany.

Disadvantages:

In rural areas, care can be worse. Necessary treatment should therefore preferably be carried out in cities.

Conclusion: Careful planning is the be-all and end-all

Costa Rica offers emigrants many advantages, but also challenges. The attractive tax system and good health care are clear plus points. The cost of living can, however, be surprisingly high.

Dream of living in paradise? With the right planning, it can become reality!

Costa Rica attracts with breathtaking nature, a relaxed attitude to life and an attractive tax system. But before you emigrate headlong to paradise, you should find out about the immigration regulations.

Different visas in Costa Rica for different needs

Costa Rica offers various residence permits that are tailored to the needs of different groups of emigrants. The three most popular options are:

1. Pensionado visa:

Ideal for retirees

Monthly pension income of at least US$1,000 required
No minimum age
Option to convert to permanent residence after 3 years
Working as an employee is not possible, self-employment is permitted

2. Rentista Visa:

For financially independent people

Guaranteed monthly income of at least $2,500 required
Proof of $60,000 in a Costa Rican bank account
After 3 years, conversion to permanent residency is possible
Working as an employee is not possible, self-employment is permitted

3. Inversionista Visa:

For investors

Investment of at least $200,000 (or $100,000 in forest) is required
2-year temporary residency permit, extension possible
Minimum stay of 6 months per year required
Working as an employee is not possible, self-employment is permitted

Other residency permits

In addition to the three visas mentioned, there are other residency permits that may be suitable for certain groups of people, e.g. digital nomads, students or people with family ties to Costa Rica.

General requirements

Regardless of the visa chosen, all emigrants must meet a few general requirements, such as:

Valid passport
No criminal record
Proof of sufficient financial means
Health insurance
Preparation is the key to success

Emigrating to Costa Rica requires thorough preparation. Find out early on about the exact requirements and the process for applying for the desired residence permit.

Living in paradise:
exploring Costa Rica’s diverse regions

Costa Rica is a country full of contrasts and offers emigrants an incredible variety of living options. From the vibrant capital San Jose to the idyllic beach resorts and the lush jungle – everyone can find their own paradise here.

The agony of choice: finding the right region

To make your decision easier, we present four regions that are particularly attractive to emigrants:

1. Escazu: relaxed city life near San Jose

Escazu combines the advantages of the big city with the charm of a quiet residential area. Here you can enjoy excellent infrastructure, excellent restaurants, good schools and modern healthcare. At the same time, you benefit from the proximity to San Jose and the numerous attractions in the area.

2. Tamarindo: White beaches and surfer’s paradise on the Pacific coast

Tamarindo is a dream for all beach lovers and water sports fans. Beautiful beaches, crystal clear water and perfect waves for surfing make this place an unforgettable experience.

3. Puerto Viejo de Talamanca: Caribbean vibes and a relaxed lifestyle

Located in the south of Costa Rica, Puerto Viejo de Talamanca offers a unique mix of Caribbean culture and a relaxed atmosphere. Here you can unwind, enjoy the beautiful beaches and explore the diverse flora and fauna.

4. Dominical: Pure nature and surfer’s paradise

Dominical is a paradise for nature lovers and surfers. In the midst of breathtaking landscapes, you can indulge in your hobby here, but also hike, ride or just enjoy the peace and quiet.

Additional tips for choosing the right region:

Do your research online and read reviews from other expats.

Visit Costa Rica and explore different regions.

Talk to locals and expats on site.
Determine which amenities and activities are important to you.
Consider your budget.
With the right preparation and a little patience, you can find the perfect region in Costa Rica for your new home.

Conclusion

Costa Rica offers a unique mix of stunning nature, friendly people, easy immigration conditions and attractive tax regulations. These factors make the country a dream destination for anyone longing for a new life adventure in a paradise.Whether you prefer to live in the vibrant city, enjoy the peace and quiet of nature or relax on beautiful beaches – here you will find your very own paradise.

Start with Plan B now!

Arrange a free initial consultation today and get advice from our experts. Together we will shape your successful future!

GCI UNIT Worldwide is a division of TCME-Group Worldwide, one of the world’s leading professional corporate investment and foreign trade advisory firms, with a total of 17 divisions in various countries and headquartered in Malaysia.

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