Investing in Costa Rica
Costa Rica is one of the countries in Latin America that is well-suited for new business. Investing in Costa Rica is a good choice for anyone who wants to get in on the ground floor of a business. The country is changing year by year.
The country was, for years, dependant upon crops such as coffee and bananas for its economic health. Cattle were also raised. For many years this was good for Costa Rica. Now, people investing in Costa Rica see more in the country’s future.
In fact, investing in Costa Rica is going more towards the computer industry. The country’s leaders see the country as the “silicon valley” of central america. They plan to spend more resources and manpower building things like microprocessors and high-tech telecommunications equipment.
Central America has a vast computer-literate and educated work force. Anyone doing business and investing in Costa Rica will not have trouble finding workers. If you plan to hire workers, you must register with the government as an employer under their social security system.
The Costa Rican government encourages foreign companies, especially US companies to locate branches in the country. They do this by offering incentives to the countries for starting their businesses. Some of these incentives involve tax breaks and other help starting businesses and investing in Costa Rica.
The incentives for those investing in Costa Rica are designed by the government to promote change in the country’s economy. Also, the government is in the process of trying to privatize its government monopolies. These include utilities and communications. This is the time for investing in Costa Rica if these are your interests.
If you wish to spend time in the country while you are investing in Costa Rica, you can get a special type of residency. This is the investor status. You will have investor residency status if you do two things.
First, you must be investing in Costa Rica to the tune of $50,000 if your funds are going towards some special project of the government. For any other business, you must invest at least $200,000. The second thing you must do is to reside in the country six months out of the year.
There are several helpful resources for anyone investing in Costa Rica. The Costa Rica Investment and Development Board (CINDE) is there to help advise anyone investing in Costa Rica. In New York they have offices which are there for advising future investors and promoting investment.
The Foreign Trade Promotion Institute (PROCOMER) is available to help with the legislative aspects for those investing in Costa Rica. They also help with the bureaucratic red tape.
The Costa Rican Exporters Chamber is a good source of information on all aspects of business for those investing in Costa Rica. It has resources that cover all the ins and outs of doing business in Costa Rica.
There are many opportunities for investing in Costa Rica. There are also all kinds of resources for the entrepreneur who wishes to start a business there. Investing in Costa Rica Real Estate is another investment opportunity worth researching. Now is a perfect time for investing in Costa Rica. |