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Costa Rica Facts and Figures

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Facts About Costa Rica

Information Type Costa Rica Data
Population 5,094,118 (June 2020)
Gross Domestic Product PPP (GDP) US$62 billion (2020 est.)
GDP Per Capita US$10,500 (2020 est.)
Inflation Rate 1.54 % (2020)
Currency Costa Rican colón
Exchange Rate Versus U.S. Dollar 579.80 colóns per U.S. dollar (June 2020)
Language Spanish (official), English
Capital San José
Population of Capital City 1.40 million (2020)
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 Carlos Alvarado Quesasda (since May 8, 2018)
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 groceries)
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 $600 USD pension per month to qualify for retirement Visas.  These must be renewed every year and proof must be . 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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Mexico Vs Costa Rica: Which is Best For You?

Costa Rica and Mexico have long been favorite countries for American expats. They remain among the first names that people associate with living overseas. It’s easy to see why. Both benefit from great weather, lower cost of living, and the chance to live a healthier stress-free life. But which is the best country for you? By comparing Costa Rica and Mexico on the factors that matter to expats, we can get a better idea of which you should be moving...

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​Learn more about ​​​​​COSTA RICA ​​​and other countries in our free, daily Overseas Opportunity Letter​​​​​​​​​. Simply enter your email address below and we’ll send you our FREE REPORT – ​​The 10 Best Places To Retire In 2020