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Originally Posted by Axeman
Excellent advice Webby!
Ok so as far as the banking goes, in theory I could just have checks sent in my name to me in CR and deposit straight into a bank and that would be kosher as far as the taxes are concerned since it was not made from a CR company?
Thanks for the advice on the financing. Seriously considering a move there next summer so trying to get a feel for the regulations!
Thanks again!
- Brent
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Yes.. no problem with what you said. There are no taxes applicable on earning or any funds from outside Costa Rica - there are no forms or any tax returns to file and the bank simply processes any checks and wires. As a general procedure banks normally have to clear any funds in excess of $10K, but thats a formality thing and just a vague form filling at the bank and they funds are available immediately - it's the "know your customer" stuff.
Mmmm...
thinking.... OK, if it was the case you needed to accept checks from a Costa Rica corp and it was a few each year - nobody is bothering and no tax problems. If it was substantial biz via a CR corp - that's where it's probably better using eg a Panamanian corp and directing the checks there - then bring the funds in to your personal bank account in Costa Rica. (It's surprising how many Costa Rica folks have a Panama corp
)
Excellent!! It's a nice place and a lot of people moving in at the moment - and no signs of this decreasing. The downside to that is it is pushing up property values, but thats most likely to be continuing for ... guessing.. a safe four/five years ahead and would be a good investment anyways. Currently real estate is increasing on average 40-60%/year on the Pacific coastal area and buying anything there is likely to gain a capital appreciation equal to the investment value in around two years or so - so probably a better investment than any stock or bank could offer.
The regulations are not too bad - it's fairly laid back and nada problemo world
There is rarely a problem which can't be overcome.
I think ARCR was mentioned on this thread earlier - know a few of the lawyers there, so if you need one - no problem in recommending a good guy. (They are all OK - but specialise in differing areas and ARCR is a useful base for contact and help on anything - from a TV repair guy to home purchase).
Ah... one thing worth noting. There is now a change in immigration laws - but, not one hope in hell of implementing them in reality for... possibly a year ahead. But may be wise to lodge residency paperwork as soon as you get here.