Costa Rica is a popular destination known for its year-round tropical climate and impressive natural scenery including rainforests, stunning beaches, canyons, and volcanoes.
As compared with other Central American countries, Costa Rica is relatively affluent and politically stable. It is a very eco-friendly country. The cost of living is also much lower than in the United States or Western Europe. If the price of telephone and internet packages or those of household appliances are roughly comparable, clothes are 40% cheaper, and food expenses for a household of 2 people amount to about €170 (USD197) per month.
Healthcare is modern, top quality, and affordable.
Average journey times:
- Paris – San José: 11 hours 07 mins
- London – San José: 10 hours 43 mins
- New York-San José: 5 hours 18 mins
- Los Angeles – San José: 1 hour 07 mins
- Sydney – San José: 14 hours 39 mins
Property price per sqm: 700 € to 1900 €
HDI ranking: 66/196 countries
HDI: 0.776 Medium human development index based on 3 criteria health, education and longevity
Big Mac Index: 3,77 USD
500 Costa Rican Colón: 0,76 EUR / 0,86 USD
How can you live in Costa Rica – residency requirements:
Residence permit issued in several ways:
- Retired residents: The retired person must submit proof of a monthly income from a pension plan that covers at least USD 1,000 per month. Once the status is approved, the resident agrees to exchange his pension or monthly pension that he receives in Euro or US Dollars in Colón (local currency) at the current rate.
- Resident Investor: Anyone is considered an “investor” when making a direct investment in Costa Rica of at least USD 200,000. The investment can be made on any type of business or in real estate. The application for residence must be made before the investment. For French nationals, possibility of being covered by the CFE.
Real estate is relatively affordable. For example allow 120,000 € for a villa of 120 m2 (sqft 1292) with sea views and a few minutes walk from the beaches.
Taxation:
Your pension remains taxed in the USA or France. Normally, Costa Rica will not tax them, but be aware that there is no tax treaty between these countries, and therefore the absence of double taxation cannot be guaranteed. However, the rule that prevails there is: “taxes are related to the country in which the income was obtained.
Safety:
Unfortunately, Costa Rica has a high level of petty crime, sometimes violent crime, and considerable corruption. There is also the ever-present danger of natural disasters including earthquakes, volcanic eruptions, and hurricanes and flooding.
Good news ! The sanitary state of the country presents no particular danger for the tourist. You must know that overall Costa Rica is a safe country, actually the safest in Central and South America.
