Costa Rica remains one of the safest and most attractive countries for foreign investment in Latin America. The government, its ministries, and financial institutions maintain a markedly pro-U.S. stance in regard to financial security and tax laws. The stated aim of this policy is primarily to entice high-tech corporations to take advantage of Central America’s most educated, computer literate, and disciplined workforce, along with the modern production infrastructure the country has been creating for the past decade. The economy is being transformed from its traditional dependence on coffee, bananas, and raising cattle to one focused on the production of microprocessors and providing high-tech telecommunications services.
This investment-friendly climate combines with current government policy to make Costa Rica “the Silicon Valley of Latin America”. This position has enticed commercial leaders such as Acer, Microsoft, GE, Abbot Laboratories, Continental Airways, and Intel Corporation to make substantial investments here, both financially and physically, with major production and distribution facilities. Western Union has chosen Costa Rica to host its Latin American regional operations center. Since 1998, Costa Rica has earned more each year from high technology exports than from coffee or bananas or even its thriving $2 billion per year tourism industry, though these industries continue to expand under Costa Rica’s economic reform programs.
Costa Rica is one of the most vocal supporters of continental free trade, and has had its own agreement with Mexico and other countries of the region for over a decade. The CAFTA trade agreement with the U.S., known locally as TLC, was passed at the end of 2007. Costa Rica’s numerous free-trade zones offer enticing trade opportunities. Benefits such as exemption from import duties on raw materials, capital goods, parts and components; unrestricted profit repatriation; tax exemption on profits for eight years and a 50 percent exemption for the following four years provide lucrative incentives for trade.
High-tech companies are driving the export boom, while traditional exports, such as coffee and bananas, will fall in percentages of overall revenue figures, but in terms of revenue within each industry, have continued to grow.
Costa Rica is building a competitive advantage for itself and the many high-tech companies who have chosen or are pondering the option to operate here. It is a country that has been successfully integrating itself into the modern world economy for over a decade. Those doing business here have profited greatly, and will likely continue to do so as Costa Rica expands its share of the global market.
This overall growth pattern has accelerated gains in real estate value as individual investors follow the lead of large corporations, realizing the potential of this expanding market. Fortunately, foreigners have the same absolute right to own real property in Costa Rica, as do citizens. Many countries have restrictions on foreign ownership of real estate but Costa Rica is not amongst them. Here all people, Costa Rican or otherwise, have the same legal rights, which are protected by the Constitution and reflected in the laws.
Now is the time to invest in Costa Rica, and Riverside Developers offers the perfect vehicle to enter this market. We provide turnkey investment opportunities with fantastic returns, a minimum of exposure, and the peace of mind that can only come from investing with a company backed by years of experience developing properties in Costa Rica.
Contact us today to find the investment opportunity that fits your budget, strategy, and personality, all while providing the many benefits of owning property in paradise!