Costa Rica retirement
what you should know about Costa Rica retirement
Many people choose to retire in Costa Rica after their very first visit. Costa Rica retirement appeals to many people for various reasons. Some of the reasons for choosing Costa Rica as a retirement destination are purely economic. Utility bills, especially the cist if air-conditioning, are much more expensive in North America. Costa Rica offers low utility costs and the retirees can still fly back and forth to their home country or to other countries whenever they wish.
The decision to retire in Costa Rica has to be carefully thought out. Costa Rica retirement involves culture shock because of the lack of efficiency and punctuality in the country.
The customs of the country are unique and these are often part of the reason people make the move. There are laws regarding people who want to retire in Costa Rica. You have to have a guarantee income of at least $600 U.S. The visa cards that allow you to live there cost $100 and must be renewed every two years.
Costa Rica retirement allows you to enjoy all the nature and beauty of the country very cheaply. The cost of getting into all of the ecological reserves is much reduced for residents, including foreigners. There are also many cultural events, such as concerts, plays and art exhibits, which you can attend. As a legal resident, you enjoy health care and insurance provisions of the country. At one time, retirees could import household goods and a car duty-free, but these laws have since been repealed. You will have to pay customs duties on anything that you bring into the country.
In order to apply for residency for Costa Rica retirement, you have to supply several documents. These include a birth certificate for anyone who wants to move to Costa Rica, a marriage certificate, if applicable, a police check to ensure that you are a law-abiding citizen of your own country, certified copies all the pages of passports and twelve passport size photos of each person.
All these documents have to be authenticated, which usually costs about $50 per page. You will not be permitted to work in Costa Rica as a retiree, unless you are a shareholder in a Costa Rican company. You do need to reside in Costa Rica for at least four months of a year.
There are many properties for sale in Costa Rica. Retirement plans may include building a home, but those who have gone that route advise against it. This is because there are costly delays, unreliable labor workers who may or may not show up to work, and different laws and inspection regulations.
The costs of lumber are also much higher than you may be used to and therefore add additional costs to the total cost of the finished home.