Costa Rica, the tropical paradise in Central America, has become one of the top destinations for those seeking a high quality of life and investment opportunities. With a warm climate, unparalleled biodiversity, and a robust healthcare system, Costa Rica offers a safe and welcoming environment for both residents and foreign investors.
Quality of Life and Opportunities
With an area of 51,100 km² and a population of approximately 5.5 million, Costa Rica is a small country in size but rich in natural and cultural wealth. The literacy rate of 97.8% and a life expectancy of 80 years are just some of the indicators that demonstrate the high quality of life in the country. Since abolishing its army in 1948, Costa Rica has directed its resources towards education and social welfare, making it one of the most stable democracies in the region.
A Growing and Stable Economy
Costa Rica is also distinguished by its dynamic and stable economy. With GDP growth of 5.1% in 2023, the country remains an attractive destination for foreign investment. Environmental policy is another pillar of Costa Rica’s economy, being the only tropical country to reverse deforestation. This focus on sustainability, along with solid infrastructure and a safe environment, has attracted a growing community of investors and international residents.
The Central Valley: The Heart of Costa Rica
The Central Valley is the geographical, economic, and cultural nucleus of the country. Here, you’ll find the capital, San José, along with most governmental institutions and major companies. It’s a region that combines modernity with traditions, offering an excellent quality of life at a significantly lower cost than in many North American and European countries.
Affordable Cost of Living
The cost of living in Costa Rica is considerably lower than in the United States, Canada, and many European countries. For example, housing prices are approximately 68% lower than in the U.S. for rentals and 51% lower for purchases. Additionally, the universal healthcare system, managed by the Costa Rican Social Security Fund (CCSS), ensures accessible and high-quality medical care for all residents.
Simplified Visa and Residency Requirements
Recently, Costa Rica has implemented new laws and regulations to attract foreigners, investors, rentiers, retirees, and digital nomads. Among these are the Digital Nomads Law (Law No. 10008) and the new regulations to the Law for the Attraction of Investors, Rentiers, and Pensioners (Law No. 9996), which simplify the visa and residency process, extending the stay period for foreigners to 180 days.
At ERP Lawyers, we are ready to assist you at every step of your relocation and investment process in Costa Rica. Our experience and knowledge of the country’s legal and economic environment allow us to offer you a comprehensive service tailored to your needs.
Discover more about moving to Costa Rica in our new section MOVING TO COSTA RICA!
