Villa Quetzal

Villa Quetzal

Monday, August 22, 2011

Top Latin American Country awarder by FDI “Foreign Direct Investment”


Costa Rica Number One of the Caribbean and Central American countries of the future "2011/12
Rankings Jacqueline Walls Thursday 11 August 2011
Costa Rica has climbed from second position to be ranked as the most attractive country in the Caribbean and Central America for foreign direct investment.  
Costa Rica’s dominance ... Costa Rica has been awarded by FDI the number one country of the Future “2011/12”. The best between the Caribbean and Central American Countries
The Dominican Republic claimed second position followed by Trinidad and Tobago in third.

Based on this very interesting evaluation from FDI, I think is worth to consider some of the Top Reasons why you might want to think about moving to Costa Rica full or part time:

Once you get to know this beautiful country on your next visit, I believe you will experience the Mystical power of Enchantment. That is what got me here in the first place, and to tell you the truth, looking at the world’s economic situation, which has been severely wounded by the ill actions of those corrupted by power, I am comfortable saying that Costa Rica has suffered several scratches but they will heal easier and faster than the deep wounds of other countries in the world.

Let’s start by saying that prior to the economic crisis; Costa Rica has enjoyed a stable economic growth for the last 20 years.
According to some sources, the economy suffered a contraction of 0.7% in 2009, but resumed its growth at around 3% in 2010.
Even though the growth is base on Exports and Tourism, let’s analyze its performance:

Exports:      Traditional:  Banana, Coffee, Sugar, and Pineapple.
                    New Exports:  Microchips

Tourism:     Traditional:  Tourist related services are still the backbone of the economy.
                   New Orientation of tourism:  Ecotourism.

                   The fact that Costa Rica has such impressive bio-diversity makes it a-key destination for Ecotourism.
U.S. business magazine Fortune ranked San José Latin America’s fifth best city in which to do business and placed it within the 25 best cities in the world.

Now, let us go through some of the reasons why foreign investors are still attracted to Costa Rica despite the Global economic crisis.
·    Enduring political stability.  In fact, The World Bank recently selected Costa Rica as the most stable country in Latin America.  As you already know, Costa Rica has had a strong, democratic government without interruption since the 1940s.
·    Very good centralized banking system appropriately regulated.  
·   The trend towards an open economy and possible trade pacts with such nations as the United States and Mexico are conducive to investment in Costa Rica.
·    Privatization of many state-run institutions will undoubtedly help economic growth in the future.  There are also no government expropriations or interference, unlike in many other Latin American countries.
·    Costa Rica is easily accessible from all parts of the world by land, sea, or air.
·    Reliable phone and Internet systems link Costa Rica internationally to other parts of the world.  
·    Investors in Costa Rica have equal rights and laws to protect them and it show in the regulations for conducting business in Costa Rica, they are the same for both local and foreign corporations.  Both can fully own and control local corporations, as well as real estate without any access limitations or restrictions.
·    Many opportunities await foreigners who start new businesses previously nonexistent in Costa Rica.  
·    Cost of labor is low.

The points above are worth to consider for those who are looking at retirement instead to investment; however, there are specific reasons to consider Costa Rica as Retirement Destination.

·    The Costa Rican Government is pro-American.
·    You can arrange direct deposit of your Pension in your bank account in “Banco de Costa Rica”.
·    Your Medicare benefits are honored in this country.
·    Cost of Medical care is low and the quality is high.
·    Weather wise, is the perfect weather your doctor has recommended.

Additional reasons for investing in Costa Rica are:

·    Asset protection through the Corporation under the label of S.A., which means Sociedad Anonima, in English Anonymous Association.
·    It is not necessary to become a resident to own or manage a business. 
·    Anyone who owns a business can import some items used to operate it and get a tax break on some of the usual duties.  Contact the incentive section of the Costa Rican Tourism Institute (ICT) for more information about incentive programs.
·    Tourism is now the leading industry in Costa Rica and numerous opportunities exist in this field if you choose the right location and are willing to deal with the red tape and competition.
·    Foreigners can invest with Costa Rica’s nationalized banking system or private banks.  Interest rates are a little higher than in the United States and there are many attractive savings accounts and time deposit programs from which to choose.

Therefore, if you are thinking about relocation in a serious way, you might want to consider Costa Rica as one of your good options.

After all, good choices come from good options.

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