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Costa Rica Facts and Figures

Facts About Costa Rica

Information TypeCosta Rica Data
Population4,755,234 (July 2014 est.)
Gross Domestic Product PPP (GDP)$61.43 billion (2013 est.)
GDP Per Capita$12,900 (2013 est.)
Inflation Rate5.6% (2013 est.)
CurrencyCosta Rican colón
Exchange Rate Versus U.S. Dollar532.25 colóns per U.S. dollar (Aug. 21,2015)
LanguageSpanish (official), English
CapitalSan José
Population of Capital City1.17 million (2015)
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 Luis Guillermo SOLIS Rivera (since May 8, 2014)
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 groceries)
Restrictions on Foreign Ownership of PropertyNo
Local Chamber of Commerce
American Chamber of Commerce
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 $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.

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