There is a lot to like about Costa Rica:
- Great weather
- Amazing national parks
- Same time zone as North America
- A territorial tax system – if structured properly, you can pay 0% income tax on overseas income
- Decent infrastructure
- Great surfing
But people also like to criticize it for:
- Petty crime (not violent, mostly theft and the like)
- Relatively expensive
- Mandatory social security taxes
- Long processing times for residency
My take on Residency in Costa Rica
I like Costa Rica. I just don’t think it’s appropriate for everyone. As always, people need to be clear in terms of their objectives.
Personally, I prefer Panama due to its faster processing times and its role as a financial hub. As much as I like national parks, I can just fly to Costa Rica from Panama whenever I want to.
As for freedom, as long as you don’t get involved in local politics, Nicaragua is a better and cheaper alternative, albeit with inferior infrastructure.
Costa Rica is a decent in-between. Same thing with its residency options. Better than Nicaragua’s, but inferior to Panama’s
I sat down with my lawyer Mariela when I was in San Jose to discuss how to obtain residency in Costa Rica.
More information on the process, fees, and Mariela’s services here.
To a World of Opportunities,
The Wandering Investor
If you want to discuss your internationalization and diversification plans, book a consulting session* or send me an email.
*a consulting session is a discussion about your portfolio and objectives. It does not constitute legal, financial, tax or investment advice.