The Costa Rica Real Estate Expert

For YEARS now, Costa Rica has been a favorite place for retirees to settle down - either part time or full time.  These lucky people discovered that Costa Rica has a lot more to offer than friendly people, gorgeous beaches, and fresh squeezed fruit juice every morning!

During this seminar, we’ll tell you why so many people have been, and currently are, interested in Costa Rica as a retirement spot, and also how even those who own a modest home can live in luxury, peace, and healthfulness in this paradise called Costa Rica.

During this presentation, I’ll go over some great vacation, investment, and retirement opportunities available in Costa Rica, as well as:

• An introduction to Costa Rica and why people are retiring there.
• Staying healthy and worry-free in Costa Rica for your entire retirement.
• Easy immigration.
• Introduction to retirement properties.
• Discuss financing options and products.

Everyone is welcome!  Limited seating, so RSVP now!

WHEN:  Wednesday, April 16, 2008 at 7:00 pm (please show up at least 15 minutes early for sign-in).

WHERE:  Prudential Financial Offices - Computax Tower
21250 Hawthorne Boulevard, Suite 500
Torrance, CA  90503

ENTRANCE FEE:  Free, but we please ask that you please bring a non-perishable food donation for the Los Angeles Food Bank.

RSVP:  Please RSVP to Chris Turkmany at 310-516-3444 or by filling out the form below:

cforms contact form by delicious:days

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Jaco Area

Falcon International School
Phone:  506-637-7400
Fax:  506-637-7471
Email:  falconadm@earthlink.net
Web:  http://www.falconicr.com
Location:  Playa Herradura, Puntarenas, Costa Rica.  Located diagonally across from the entrance to Los Suenos Resort and Marina.

An English and Spanish language school which has a preschool, elementary, and middle school.  They teach the basics (math, science, history, etc.), as well as language arts in English, Spanish and French.  Teach to student ratio is very low, around 1:6.

Las Nubes
Phone:  506-643-2440
Email:  larisaquiros@hotmail.com
Location:  On the Costanera between Herradura and Jaco.

This is a bilingual elementary school.  The teacher to student ratio is extremely low, around 1:4.

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I am Canadian, but I now live in Southern California.  I didn’t move because I had any aversion to Canada - I moved because it was darn cold in Winnipeg, which is where I lived.

I can’t say that I’m alone in this sentiment though, as every year, thousands of Canadian retirees make the trek South to warmer climates - Arizona, Florida, Canada, Texas, and even a little further south to Mexico.

There is also a small subset of this group that has been fortunate enough to discover Costa Rica, and have made it their winter home for 4 to 6 months out of the year.  So why did this small group of Canadians choose Costa Rica versus the more familiar and closer retirement spots in the US?

Perfect Weather

Lots of reasons.  The first and most obvious is the unequaled climate.  As it turns out, the weather in Costa Rica is at its best during Canada’s winter.  From mid-November to June is the “dry” season in Costa Rica.  Don’t expect the Sahara though!  It will rain during this time, but it will be pleasant, warm showers.

High Quality Healthcare

Another reason that Canadians (and other foreigners) have chosen Costa Rica for their retirement home is because of their fantastic, high quality healthcare system, a hybrid of a private and public system providing healthcare to all.  Many of the private healthcare facilities work hard to accept many foreign health insurance plans, but even when they don’t, the fees are extremely affordable for foreigners.

Safe Living in a Foreign Country

Safety is another important issue that many Canadians consider when looking for a place to retire - domestic or foreign.  Costa Rica shines in this area with very low crime rates.  They do however have a high level of petty theft, but that can be avoided by using some common sense, not flashing money or valuables in public, and staying in well-lit, well known areas.  Besides, most places where North Americans live in Costa Rica have numerous security precautions, like gated, guarded entrances, on-site security, and other security measures.

Hassle-Free Immigration

Another draw that Costa Rica has for retirees is its lenient residency rules.  To enter Costa Rica requires no more than what you would need to cross the border into the US - a passport.  In fact, with your passport you can stay up to 3 months in Costa Rica.  If you want to stay longer, all you need to do is cross the border out of Costa Rica and then re-enter 72 hours later - a good opportunity to visit Panama to the south.  Upon your return, you can stay another 3 months which should be more than enough time for snowbirds to wait out Canada’s winter before their return.

Looking to stay in Costa Rica a little more permanently?  Costa Rica actually has a special visa just for retirees called pensionado.  Obtaining this residency status is within the reach of most retirees, allowing them to stay year-long.

Unlimited Activities

And of course, I have to mention the wealth of activities, sights, sounds, and tastes that Costa Rica has to offer - fishing, golf, parks, water activities, shopping, dining, rainforest tours, and so much more.  Of course, if you are looking for relaxation, you can find that too.

One of the major objections to choosing Costa Rica over some US destination actually has to do with the distance and the travel time to reach Costa Rica.  When you really sit down and think about it though, is travel time to a retirement spot a determining factor, when you have all these others to consider?  How does a 3 hour flight versus 8 hours travel time really differ?  Are you really going to get more out of your retirement spot with those extra 5 hours?  Think about it.

If you have decided to make Costa Rica your retirement home, I would love to hear why.  Leave a comment and share your reasons why you chose Costa Rica!

And if you are considering Costa Rica for a retirement spot, but still have some questions, let me hear from you.

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It is undeniable that Costa Rica is a beautiful paradise.  If you question this statement, just look at the Costa Rica tourism statistics (tourist arrivals grew by 15.6% in 2005), or ask someone who has been there.  Most visitors to Costa Rica have been there before and return because it is a Latin American paradise.

People have been visiting Costa Rica for years, but it is only in the past 10 years that it has gained such worldwide visibility.  But before this happened, many seniors had found Costa Rica to be a retirees paradise.

Retirees

Along with investors, retirees make up one of the largest groups to buy real estate in Costa Rica.  Small communities of retirees have sprung up over the past 20 years all around Costa Rica.  Each of them came to Costa Rica and discovered that it was a wonderful place to retire, with its low cost of living, excellent weather, plentitude of activities, and its laid back lifestyle.

Before these retirees discovered Costa Rica though, they did have several common concerns:

Safety

Personal safety is probably one of their top concerns.  In fact, this is a top concern for anyone traveling ANYWHERE.  The good news is that Costa Rica is a very safe country.  Petty crime has gone up - consisting mostly of stealing.  But violent crime is still much lower than any of the major US cities.  Of course, a little bit of common sense is always helpful for staying out of trouble, no matter where you are.

Real estate developers recognize this fear, and have addressed this in their developments by offering gated entrances and oftentimes 24 hour, on site security.  Obviously this will do its job to keep crime rates low, but for the most part it is more to provide a sense of security.

World Class Healthcare

Costa Rica has a world-class healthcare system with many US-trained physicians, providing affordable healthcare for all in private and public facilities.  This is of great interest to retirees whose other concern is the quality and availability of healthcare.

Retirees who are considering Costa Rica as a retirement spot will be pleased to learn that not only is Costa Rica’s healthcare inexpensive, but that most private facilities will also accept foreign medical insurance.  In addition, new healthcare facilities are being built all over the country.

Lenient Residency Rules

Many retirees may not retire to Costa Rica full time, but possibly only for part of the year.  Either way, the Costa Rican government’s residency rules are quite lenient - especially for retirees.  For example, a retiree can stay in the country for up to 3 months with nothing other than their passport!  No visa or any other paperwork!  If they wish to stay longer, they can leave the country, re-enter after 72 hours, and stay another 3 months.  Of course, this practice is discouraged if it is done over several subsequent times.  Doing this once or twice a year is okay.

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I have to say that since getting involved in Costa Rica real estate, I have been surprised by the number of people who have contacted me who are interested in moving to Costa Rica permanently.  I’m not surprised that people want to move there, because it is a fantastic country, but I’m just surprised at the number of them ready to make such a bold move.

So, a common question that I do get from those looking to move to Costa Rica - either full time or part time - is what do are the residency rules.

Short Term Stays Are Easiest

Well, lets start with part timers.  For anyone staying less than 6 months, you need nothing more than your passport.  That’s it!  No paperwork, no visa, none of that.  In fact, anyone with a passport can stay in Costa Rica for up to 3 months.  If you want to stay longer than 3 months, the easy way to do that is to just leave the country for 72 hours, and re-enter.  You are now able to stay another 3 months!  Of course, doing this once or twice is okay, but more than that and it is frowned upon.  So if you plan on staying for longer than 6 months at a time, you may want to consider applying for residency.

Seniors Have an Advantage

In Costa Rica, there are different residency options.  To start, seniors can obtain pensionado residency.  This is a great draw for seniors, as pensionado residency rules are more lenient than other types of residency. In a nutshell, seniors can obtain residency simply by proving that they have an annual income of $7,200, and that income will be deposited into a Costa Rican bank account in colones (Costa Rican currency).  The best part is that any dependants (spouse or children under 18) can obtain residency automatically.

Costa Rica Loves Investors

Just more proof that Costa Rica is foreign investment friendly.  Special residency opportunities are given to investors - small or large.  For small investors with investments that bring in a regular income, they need to prove a monthly income of $1000, guaranteed by a banking institution.  An alternative to that is to deposit $60,000 into a Costa Rican bank account, where you can withdraw $1000 of your money each month. 

Investors who have invested at least $50,000 in a sector that the government deems a priority - such as tourism, forestry, and low-income housing - will get you inversionista resident status.  Larger investments up to $200,000 in other sectors will also get you inversionista resident status.

Applying for Costa Rica Residency

There are many other types of residency statuses, but the ones I’ve listed are the most common.  If you are considering applying for one of these residency statuses, don’t wait until you are in Costa Rica.  In fact, Costa Rica’s Department of Immigraion (Direccion General de Migracion y Extranjeria) says that foreigners should apply for residency from their country of origin.  This appears to be more convenient for many, as applying for residency while in Costa Rica would subject the applicant to long, confusing lines and wait times.

If you have any questions about applying for residency in Costa Rica, contact the Costa Rican consulate (Canada | US) in your country of origin.

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