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    Costa Rica Facts and Figures

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    Reviewed by Lief Simon

    Lief Simon is the managing editor of Global Property Advisor, Simon Letter, and Offshore Living Letter. He has purchased more than 45 properties, investing in 23 different countries around the world.

    Facts About Costa Rica

    Information TypeCosta Rica Data
    Population5,212,173 (2023)
    Gross Domestic Product PPP (GDP)US$139 billion (2023 est.)
    GDP Per CapitaUS$26,422 (2023)
    Inflation Rate-1.87% (2023)
    CurrencyCosta Rican colón
    Exchange Rate Versus U.S. Dollar514.32 colones per U.S. dollar (Feb. 2024)
    LanguageSpanish (official), English
    CapitalSan José
    Population of Capital City1.46 million (2023)
    Time ZoneGMT – 6 (One hour behind Washington, DC, during Standard Time)
    SeasonsTropical and subtropical; dry season (December to April); rainy season (May to November); cooler in highlands
    International Dialing Code506
    Electricity120V / 60Hz: Plug Types: A/B
    System of GovernmentDemocratic Republic
    Current LeaderPresident Rodrigo Chaves Robles (since May, 2022)
    Income Tax Rate for ResidentsProgressive Tax of 15%, Self-employed range from 10% to 25%
    Property Tax0.25% of appraised value
    Capital Gains TaxCapital 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 TaxInheritance and gifts are not specifically taxed in Costa Rica.
    Rental Income Tax1.5% 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 Tax1.5%
    Sales Tax13% (no tax on basic items)
    Restrictions on Foreign Ownership of PropertyNo
    Local Chamber of Commercehttp://www.camara-comercio.com/
    American Chamber of Commercehttp://www.amcham.co.cr/
    Primary ExportsBananas, pineapples, coffee, melons, ornamental plants, sugar; beef; seafood; electronic components, medical equipment.
    Residency and Visa RequirementsGenerally, 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 RetireesPensionados (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 Airlinewww.taca.com

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