Costa Rica Wants YOU to Live in Costa Rica 🇨🇷 What They're Doing and Why 🤔 Incentives - Import Taxes

#LiveinCostaRica #MovetoCostaRica #howtogetresidency 'Costa Rica Wants YOU to Live in Costa Rica 🇨🇷 What They're Doing and Why 🤔 Incentives - Import Taxes' The Costa Rica government wants you to move to Costa Rica. Live in Costa Rica. Make a life in Costa Rica. And are looking to intice you with incentives so you can make the move to Costa Rica and become a resident of Costa Rica. The incentives are in the form of tax breaks and exemptions and discounts. They are not law as of yet but I would expect they will be soon. Tax breaks. Exemptions. Duty Free. Tax discounts. Invest in Costa Rica and by investing in Costa Rica you can obtain your residency and save on various import taxes, transfer, title taxes etc. But WHY is Costa Rica doing this? The answer is both complicated and simple and I will tell you in this video, 'Costa Rica Wants YOU to Live in Costa Rica 🇨🇷 What They're Doing and Why 🤔 Incentives - Import Taxes'. Many people decide to retire in Costa Rica because of its natural beauty, simple life and laid back living. People need to understand theres' pro's and con's of living in Costa Rica or living abroad anywhere. Living in Costa Rica as an american expat is many people's dream life. Moving to Costa Rica with family can also be very rewarding for the entire family. Retiring in Costa Rica, living abroad or living overseas one always needs to do ones research and homework. You should not buy real estate when first arriving in Costa Rica. Costa rica residency, buying a home in Costa Rica ,buying property in Costa Rica needs to be a well thought out plan before just diving in. Travel Costa Rica NOW is a Travel Agency first.

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The Costa Rican governement want you to live in Costa Rica. The government wants you to get your residency, buy property, build a home, start a business and make a life in Costa Rica. They are trying to make law that allows them to give incentives, tax breaks, tax discounts etc. to US citizens who want to become a resident of Costa Rica. There's good reason for this. Costa Rica is in financial problems. Unemployment is almost 25%. Tourism has all but dried up due to the covid crisis. They need to find ways to stimulate the economy.

The proposal which is pending in the legislature-

Declare that it is in the public interest to attract investors and retirees.

Import Duty Tax Exemptions. You will have the right to import one vehicle into the country duty-free. You will also be able to bring in your household items into the country duty free.

Income Tax Exclusion. The income that you reported as your basis for residency would be excluded from Costa Rican Income Tax.

Property Transfer Tax Discount. If you purchase real estate in your personal name, then you will receive a 20% discount from the Costa Rican real estate transfer tax.

For the Resident Investor category, it drops the investment requirement from US$200,000 to US$150,000.

Expedited Processing. The law indicates that they will create a specialized service window within the Department of Immigration to handle processing for Investor, Rentista, and Pensionado residency categories.

Wondering where the gringo's live, where the expats are? Here's few favorite places and areas US, Canandians and Europeans like to live in Costa Rica- La Fortuna, El Castillo, Nuevo Arenal, Tiliran, Tamarindo, Samara, Nosara, Mal Pais, Montezuma, Manuel Antonio, Jaco, Dominical, Uvita, the Osa Peninsula, Grecia, Atenas, Santa Ana, San Ramon... just to name a few ;) 

I hope you enjoyed this video and found it informative, 'Costa Rica Wants YOU to Live in Costa Rica 🇨🇷 What They're Doing and Why 🤔 Incentives - Import Taxes' and Travel Costa Rica NOW hopes to see you in Costa Rica very soon. pura vida

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