Due to its low production costs and low taxation, Costa Rica is one of the most popular countries for foreigners who want to open a company in the country and engage in investments.
Buying real estate in Costa Rica can reduce living costs in the country if you choose to do business. The cost of real estate in Costa Rica is several times cheaper than in many countries. Many migrants who invest in real estate in Costa Rica receive rental income throughout the year. This is due to the fact that this country is very attractive for tourists and businessmen.
Business opportunities in Costa Rica can be interesting and promising, both domestically and as an offshore company to operate in the external market. Many multinational companies open their branches in the free economic zones of Costa Rica. It provides an opportunity to import goods without taxation.
In Costa Rica, there are 5 regions that belong to the free economic zones (Costa Rica’s Free Trade Zones). In these zones, foreign companies are engaged in the development of investment projects for the production of clean energy, biotechnology projects. Also, the activities of companies aimed at the sphere of the agro-industrial complex for the production of non-food and food products, in the sphere of services and logistics provide for tax incentives.
Free economic zones provide a preferential right to companies that will not pay income tax and customs duties for export-import operations for 12 years. In addition, they have an exemption from taxes on royalties and dividends, from sales tax, and on payment of state duty for services and goods of the local market. Including for a period of 10 years, companies in free zones are exempt from property tax, property transfer, and license issuance tax.
Moreover, the Costa Rican authorities also provide incentives to those companies that are involved in the IT business. If you pay attention to the constant growth of the economy of Costa Rica, and to the increasing number of the population, the prospects for business are quite high. The main thing here is to correctly determine the choice of the most competitive sectors of the economy or service sectors. Costa Rica does not impose any restrictions on investors except:
- Property transactions in coastal areas and associated with the country’s natural resources.
- Carrying out operations in the state ports of the country.
- Money laundering and terrorist financing transactions.
In conclusion, it is worth noting that Costa Rica can provide huge unlimited opportunities for foreign business. The fact of acquiring real estate or setting up a business in Costa Rica does not oblige a foreign citizen to become a citizen of the country. Therefore, in order to make your dreams come true, you need to have the desire, capabilities and possess reliable information about the real state of affairs.