Retirement in Costa Rica – Things you should know

Costa Rica is a centrally located country and it makes sense that retirement in Costa Rica is a practical solution for US citizens. There are many reasons why people choose a different country or location to retire to; one of the chief contributing factors that makes Costa Rica so appealing is the fact that pension money is certain to go a whole lot further than it does in the US. Public transport, utilities and rentals are far cheaper than in the US. Healthcare and medication are of a high standard and are very affordable.

Notwithstanding the fact that Costa Rica is naturally beautiful country with a good climate and an exotic ring to it, if you want to spend your retirement in Costa Rice, there are a couple of important considerations. One is the “pensionado” this is a legal requirement for retirees to the country, and it basically means that you have to receive at least $600 per month in pension funds. The other is the “rentista” this applies to non-pensioned residents and the implications of “rentista” to a resident, requires that resident to earn a minimum of $1000 per month for a five year period. In both of these scenarios you have to carry a residents’ card that is renewed bi-annually. The resident’s permit costs $100 and once that is out of the way, you are free to settle down and find a place to live.

Costa Rica is politically and financially stable and has a democratic government. There are many investment opportunities available, chiefly land, agriculture, flowers and livestock. Investments aside, retirement in Costa Rica offers the US Citizen the opportunity to enjoy many social activities and it is interesting to note that eco-tours and holidaying is cheaper for residents of the country.

There are many property developments for retirement in Costa Rica, so you don’t have to worry about a shortage of accommodations. There are also ongoing developments of golfing estates for the golf lover. However, Costa Rican real estate is not regulated and there are no licensing requirements as there are in other parts of the world. So be sure to thoroughly research real estate opportunities before investing and ensure that you have obtained reliable information from above board property developers. This should not deter you from making a decision to choose to spend your retirement in Costa Rica, as there are many trustworthy developers who will be only too happy to aid you in your search for a suitable property.

One really good way to get a feel of the country and investigate the real estate for retirement in Costa Rica is to take a “retirement tour”. These tours are specifically designed and will introduce you to various towns and districts as well as developers of retirement properties. Taking one of these tours will also allow you to meet like-minded people and people who are already spending their retirement in Costa Rica, this is useful in helping you make a decision as well as get a feel for the country.

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Related links:

Costa Rica Retirement Communities – Finding the perfect location to retire

Retire to Costa Rica – 7 Good Reasons to Do So

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