Costa Rica Facts and Figures

Facts About Costa Rica

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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

What You Need to Know About Gun Laws In Central And South America

by Live And Invest Overseas

June 22, 2021

Gun laws vary in every country. It is important to understand that gun ownership is a privilege, not a right. Gun laws are strictly enforced, and draconian measures apply for anyone found with an unlicensed gun or ammunition. You can apply for a gun permit as a legal resident in Panama, Belize, Nicaragua, and Ecuador. You’ll be limited in each case as to the number of guns you can own and also restricted as to the types of weapons you can keep, but...