Focus on Costa Rica This small country is a hot spot for investment, retirement and vacation. Costa Rica’s location at the heart of the Central American isthmus, the country’s varied landscape, mild climate, emphasis on ecology and its friendly people have made this small country a hot spot for investment, retirement and vacation. Bordered by Nicaragua to the north and Panama to the south/southeast, Costa Rica benefits from over 800 miles of coastline set on the Caribbean Sea and the North Pacific Ocean.  Almost 20,000 square miles in area, the landscape is dominated by Cerro Chirripó, the fifth highest peak in Central America.  Endless beaches, dramatic mountain views and an unspoiled environment of lush vegetation and abundant wildlife are just some of the things that draw visitors back time and time again. More than one quarter of Costa Rica’s land is designated as national park, biological reserve, wildlife refuge, or some other category of protected area – the largest percentage of any country in the world.  While the country has only 0.1% of the earth’s land mass, it contains 5% of the world's biodiversity and in 2007 the government stated that they want Costa Rica to be the first country to become carbon neutral by 2021.  These initiatives have led to Costa Rica being recognized as a pioneer in ecotourism.  The 2008 Travel and Tourism Competitiveness Index, ranked Costa Rica first among Latin American countries.  The index is a measurement of factors that make it attractive to develop business in the travel and tourism industry, rather than a measure of a country’s attractiveness as a tourist destination. The index evaluates three areas:  a country’s regulatory framework; its business environment and infrastructure; and its human, cultural, and natural resources.  This accolade will certainly increase the attraction of Costa Rica to overseas investors. Firmly on the international map, Costa Rica is served by direct flights from Spain, Netherlands, Germany, U.K., Canada, as well as many major U.S. cities.  1.9 million foreigners visited the country in 2007, making it the most visited nation in Central America.  The $1.9 billion-a-year tourism industry makes a major contribution to the country’s economy.  Agriculture still plays a major role in the economy, and government tax incentives have been successful in attracting overseas investments in high tech companies, pharmaceutical and consumer products. Foreign investment in Costa Rican real estate has been on the rise, supported by the growing numbers of Americans, Canadians and Europeans making Costa Rica their retirement home, or purchasing a vacation home there.  Foreigners purchasing property have the same rights as Costa Ricans.  The legal system is not the same as that in USA, and investors would do well to work with a local Costa Rican tax advisor and attorney.  Choosing the right real estate professional is also key to a successful transaction.  One who has experience in Costa Rica AND understands the U.S. real estate system would be a particular asset in bridging the communications gap.  An American realtor who has chosen to specialize in the Costa Rica market would be particularly valuable as the investor will benefit from the realtor’s direct experience of the market, ability to introduce other professionals with a proven track record and working knowledge of the various projects and developments that are available. Call Patricia Tan on 941-504-9232 for more details.   The Top 10 Reasons You Choose Costa Rica 1- LOCATION, LOCATION, LOCATION. Costa Rica is among the most highly sought-after tourist destinations. Its strategic position in the heart of the Western Hemisphere, infrastructure, access to international markets, labor quality and cost, as well as its government's positive attitude towards foreign investment, make Costa Rica an ideal setting for retiring, investing, or living.  Costa Rica's natural and geographical diversity provides sound options for a wide range of luxury, retirement and vacation homes.  2- THE VIEW YOU WERE LOOKING FOR. Costa Rica covers 19,730 square miles (51,100 km2), and though it accounts for only 0.3 per cent of the world's land area, it contains 6 per cent of its biodiversity. Whether you are looking for an ocean, city or mountain view, there is something for everyone in Costa Rica. 3- OWNERSHIP RIGHTS. Unlike Mexico and other countries, the Costa Rican government allows foreign investors to hold fee simple titles. Local banks make financing available to qualified foreign buyers. Title insurance also is available.  4- POLITICAL STABILITY = SAFE INVESTMENT. Costa Rica has a long democratic and world renowned tradition, which has more than 115 years of history.  Such respect for political and peace processes was evidenced by the abolition of the military in 1948 and acknowledged internationally in 1987 when then-President of the Republic, Oscar Arias Sánchez, was awarded the Nobel Peace Prize.  5- WHEN THE TOURISM INDUSTRY GROWS, SO DOES THE REAL ESTATE INDUSTRY. Leading brands such as Four Seasons, Saint Regis, and Marriott have chosen Costa Rica for its great potential to attract foreign investment. The U.S. is among the countries most interested in investing in Costa Rica. Tourism is the main economic activity in Costa Rica. The country receives 1.6 million tourists annually, which generates $1.6 billion in earnings. 6- STRATEGIC LOCATION. (Three hours from the U.S.): Costa Rica is located in the center of the Americas, with two major airports providing excellent international access. Most citizens from the U.S., Canada and countries in Europe do not need a visa. Seventy-six per cent of passengers arriving at the Daniel Oduber Airport in Guanacaste are North American, providing the primary market for developments in the area. 7- COMPETITIVE CONSTRUCTION COSTS. It's relatively easy to develop in Costa Rica. A good work force comes at a fairly low cost compared to that of the U.S. A home costing $100 per square foot to build in Costa Rica could cost $250/sf (Columbus), $350/sf (Dallas or Atlanta), or even more than $500/sf (San Francisco, Los Angeles, or Miami).  8- LOW TAXES. Under Costa Rican tax law, you must declare the value of your home to the Costa Rican Municipal Government every five years. An annual flat rate of 0.25 percent is charged, calculated on the declared land and house value combined. Owners of homes within the Maritime Zone or of concessions near national parks pay property tax only on the value of the house, not the land itself. For example, property taxes on a home in Dominical outside the Maritime Zone, with a combined land and house value of $300,000, would be approximately $750. 9- EXCELLENT QUALITY OF LIFE. Stability and economic growth reflect relevant social achievements. Among them is the reduction of poverty from 40 per cent to 20 per cent over the last 20 years. In addition, Costa Rica has achieved the highest education and health levels in Latin America and has been able to provide the population with wide access to health services, social security, potable water, and basic public services.  Costa Rica's literacy rate of 95.8 percent is comparable even to those of highly developed countries, and the workforce is becoming increasingly bilingual. 10- YOU HAVE A PERFECT PARTNER IN COSTA RICA. We can guide you with confidence, to your dream investment in Costa Rica. We provide clients interested in Costa Rican real estate with the resources they need to insure that the process of investing in or purchasing land or a home runs as smoothly as it would in their home country. Our comprehensive professional and local knowledge is available to support and complement your decision-making process. In short, we offer the peace of mind that comes with knowing you have all the facts about Costa Rica real estate.