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Costa Rica

Costa Rica
	Capital	San Jose
	Population	4,253,877
	Area	51,100 sq km
	Language	Spanish (official), English
	Currency	Costa Rica, Colon (CRC)
		1.000000¢ (CRC) = 0.001800$ (USD)

Located between politically stable Panama and Nicaragua and only a few hours flight from the United States has made Costa Rica one of the top retirement destinations for American expats. Be assured that the miles of beach, tropical climate and low cost of living are also major factors.

Costa Rica has a well-educated population, developing economy and stable democratic government; they haven’t had a standing army since 1948, and why should they? No one wants to hurt the friendly Ticas (as Costa Ricans are affectionately known)! Costa Rica offers a slower pace of life with a much higher standard of living, which could be the draw to the nearly 20,000 American expats who are currently living there.

Top Three Places to Live and Invest

San Jose is the capital of Costa Rica and where many expats (and almost 30% of Ticas) choose to live, either in the city itself or in some the surrounding suburbs. One of the youngest capital cities in Latin America, San Jose is divided into 11 districts, which is then divided into barrios. The suburbs range from upper middle class eastern suburbs like San Pedro, where a 3-bedroom, 3-bathroom house with maid’s quarters goes for just under $300,000 to the upper class, gated communities in newer western suburb Escazu where plots of mountain-view land go for about $50,000 and luxury homes for over $750,000.

La Fortuna de San Carlos in the north-central part of Costa Rica is a still undeveloped, raw and beautiful part of the country where cheap land filled with lakes, rolling hills and hot springs are available for under $140,000. Lake Arenal offers windsurfing for five months of the year and unbelievable views of the youngest live Volcano in the world, Arenal Volcano. When Costa Rica got nicknamed the “Switzerland of Latin America,” they must have been speaking of this area as Arenal has a distinctive European feel to it.

The Caribbean Coast of Costa Rica is a virtually untouched market, as most buyers tend to cluster along the Pacific Coast. As the Pacific Coast is becoming too expensive for many, the real estate market in the Caribbean Coast is ready to explode. Still a bit rustic and raw, a two-bedroom home on the black sands of Playa Negro goes for $130,000. Limon is becoming the hottest spot for real estate on the Caribbean Coast so be sure to check out Puerto Viejo and Cahuita where the asking price for a 1,000 square meter lot within walking distance of the sea for $35,000.

Health and Senior Policy
The result of not paying for a standing army means that the Costa Rican government can afford to offer universal health care for all its citizens, foreign retirees and visitors. The quality of health care in Costa Rica is generally quite good, putting the average Costa Rican length of life as one of the highest in the world, much before the United States or United Kingdom. The government-run health care system means you pay a little each month (depending on your salary) and then you have access to the CCSS (Caja Costarricense de Seguro Social). Your other option is to buy private insurance through the INS (Instituto de Seguro Nacional), which gives you access to over 200 private doctors and hospitals. Many of the INS doctors spend either their mornings or afternoons also working in the CCSS, so the level of care is pretty similar. “Medical Tourism” is a growing trend in Costa Rica and many Western foreigners come here for dental work and cosmetic surgery, most cost half the prices they charge in America.

The senior policy in Costa Rica is one of the best in the world, but unfortunately many people realized this, causing the Costa Rican government to re-think its policy. Right now it’s still in place, so act fast! To qualify for a permanent “rentista” or “pensioner” visa you need to show is either an income of $1,000 or pension of $600 a month. Once you have fulfilled the proper paper work and applied for the visa, you must live in Costa Rica for at least four months of the year (they do not need to be consecutive) to keep the visa. While you cannot work in Costa Rica on the Visa, you can still have an income through other means such as the Internet and there are no restrictions on investing in the country!

Safety and Infrastructure
Costa Rica is constantly ranked as one of the safest countries in Latin America and unlike the majority of its neighbors has had over 60 years of continuously democratic governance. After its civil war in the late 1940s, Costa Rica abolished its standing army and has not had a need for one since. It used to be that violent crime was a rare occurrence outside San Jose, unfortunately that’s just not true anymore. Glossy brochures and real estate agents will tell you of the safety of Costa Rica but Ticas and expats who live there tell a much different story. For whatever the reason, crime in Costa Rica is going up and security is now as much of a concern as in the rest of Central American countries. While Costa Rica is still one of the safest countries in Latin America, it is slowly slipping from its number one spot as “safest country in Latin America.”

As the number of American expats increases so does the infrastructure of Costa Rica. Public transportation is good and inexpensive but most roads are unpaved which can prove difficult for non-4WD vehicles. The domestic phone system is generally good but the cell phone service is apart of a state-run monopoly that only provides restricted cellular service focused in the major cities and towns.

Culture and People
Most Costa Ricans refer to themselves as “Ticos or Ticas,” the word derives from “hermanticos or hermanticas,” meaning little brother or sister. The friendly and informal way of referring to themselves and others is emblematic of the peaceful, hospitable and fun-loving people. The majority of the Ticos (over 77%) are Catholic, but the church has never had the amount of power and influence it has had on its Central America neighbors. The motto for Ticos is “Pura Vida” or directly translated as “pure life,” but more accurately it means, “full of life or this is living.”

Ethnically, Costa Rica has the most homogeneous population in all of Latin America with over 94% being mestizo or of direct European descent. There is a small 3% population of Afro-Costa Ricans who are descendents of Jamaican migrant workers and an even smaller 1% of Chinese immigrants. While extreme poverty does exist in Costa Rica, the majority of Ticos are also middle class, as the average income is low but still much higher than other Latin American countries. An educated society that promotes literacy and free public education and thrives on maintaining peace, Costa Rica is a small stable haven in the midst of turbulent Central American neighbors.