Choose Costa Rica for your next business venture; you’ll be glad you did
More and more people are choosing to buy property, invest, open a business, and live in Costa Rica. The reasons are endless, but just to name a few: Costa Rica is known for its business-friendly investment regulations, abundant nature, beauty and wildlife, tourism industry, conservation and sustainability, a prospering economy, its conveniently close proximity to the States and Canada, and a highly educated, and computer literate, work force.
Many countries restrict foreign business investment as a way of protecting their national business and industry. Special tax breaks are given to local commerce and roadblocks are thrown in the way of foreign investors. Costa Rica, however, takes a positive attitude toward foreign investment. Outside money is encouraged as a way to spur development.
Nonetheless, labor laws and wage minimums are strictly enforced, giving the average Costa Rican employee enough income so that the local economy can flourish.
The end result is that Costa Rica is one of the most business friendly countries in Latin America. Foreign investment and foreign entrepreneurs are welcome.
One obvious result has been the relocation of several high-tech corporations to take advantage of Costa Rica’s educated and computer literate work force. This business-friendly climate has earned Costa Rica the reputation as Central America’s “Silicone Valley.”
Among big businesses that have chosen to set up shop here are the following (to name just a few):
- Gray Line
- Hewlett- Packard
- Intel Corporation
- SC Johnson
- Poker Stars
- Bank of America
- Procter and Gamble
- Experian Marketing Services
Any investment that promotes tourism, creates jobs, and does not harm the environment is considered welcome.
To attract desirable businesses, Costa Rica offers generous incentives and tax breaks. Depending on the enterprise, there can be a twelve-year exemption from income taxes as well as waivers on import duties. When ecology is concerned, particularly projects involving reforestation, tax exemptions can be forever.
When it comes to choosing a country to retirement or just your next chapter in life, you can’t go wrong with Costa Rica. To learn more about the ins and outs of opening a company in this beautiful country, you can visit The World Bank’s “Doing Business” page on opening a company in Costa Rica.
To learn more about buying property in Costa Rica, you can reach out to our friendly real estate team here at HRG Properties and Rentals.