Costa Rica Facts and Figures

A volcano in Costa Rica with lush green forest and bright orange flowers

Facts About Costa Rica

Population 4,755,234 (July 2014 est.)
Gross Domestic Product PPP (GDP) $61.43 billion (2013 est.)
GDP Per Capita $12,900 (2013 est.)
Inflation Rate 5.6% (2013 est.)
Currency Costa Rican colón
Exchange Rate Versus U.S. Dollar 532.25 colóns per U.S. dollar (Aug. 21,2015)
Language Spanish (official), English
Capital San José
Population of Capital City 1.17 million (2015)
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 Luis Guillermo SOLIS Rivera (since May 8, 2014)
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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