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Costa Rica Facts and Figures
Facts About Costa Rica
| Information Type | Costa Rica Data |
|---|---|
| Population | 5,212,173 (2023) |
| Gross Domestic Product PPP (GDP) | US$139 billion (2023 est.) |
| GDP Per Capita | US$26,422 (2023) |
| Inflation Rate | -1.87% (2023) |
| Currency | Costa Rican colón |
| Exchange Rate Versus U.S. Dollar | 514.32 colones per U.S. dollar (Feb. 2024) |
| Language | Spanish (official), English |
| Capital | San José |
| Population of Capital City | 1.46 million (2023) |
| Time Zone | GMT – 6 (One hour behind Washington, DC, during Standard Time) |
| Seasons | Tropical and subtropical; dry season (December to April); rainy season (May to November); cooler in highlands |
| International Dialing Code | 506 |
| Electricity | 120V / 60Hz: Plug Types: A/B |
| System of Government | Democratic Republic |
| Current Leader | President Rodrigo Chaves Robles (since May, 2022) |
| Income Tax Rate for Residents | Progressive Tax of 15%, Self-employed range from 10% to 25% |
| Property Tax | 0.25% of appraised value |
| Capital Gains Tax | Capital gains are exempted unless the gains are derived from the habitual activity of the seller or the assests sold are tangible and can be depreciated. Such gains are taxed at 30%. |
| Inheritance Tax | Inheritance and gifts are not specifically taxed in Costa Rica. |
| Rental Income Tax | 1.5% transfer tax and 0.25% municipal tax on real property apply. And annual “luxury house tax” also apply depending on the value of the asset |
| Transfer Tax | 1.5% |
| Sales Tax | 13% (no tax on basic items) |
| Restrictions on Foreign Ownership of Property | No |
| Local Chamber of Commerce | http://www.camara-comercio.com/ |
| American Chamber of Commerce | http://www.amcham.co.cr/ |
| Primary Exports | Bananas, pineapples, coffee, melons, ornamental plants, sugar; beef; seafood; electronic components, 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 their valid passport and remain in the country for up to a maximum of 90 days. |
| Residents or Retirees | Pensionados (retirees with pensions) only need to have a US$600 pension per month to qualify for retirement Visas. These must be renewed every year. Anyone over the age of 45 can apply for retirement resisdency. No taxes on retirement income. Foreigners living in CR do not have to pay taxes on money earned abroad. |
| National Airline | www.taca.com |
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