Retiring in Costa Rica

retiring in Costa RicaHave you dreamed of retiring to a Garden of Eden ? Here are some facts about retirement in Costa Rica that could make your dreams very real.

Costa Rica appeals to many people for a variety of different reasons. Costa Rica has one of the highest standards of living in Latin America, it has the oldest and most stable democratic government in Latin America and has one of the highest literacy rates in the world (95%). It also has one of the longest life-expectancy rates on earth, 77 years! That is longer than in the United States. They must be doing something right in Costa Rica!

Costa Rica is home to more Americans (per capita) than any other country outside of the U.S., and there are many good reasons for this. With a delightful, near perfect tropical climate, low violent-crime rate, stable democratic government and a plethora of outdoor activities to partake in year round, Americans seem to have no trouble adopting Costa Rica as their new home.

Living in Costa Rica among friendly locals, also known as Ticos, allows for a “peaceful, easy feeling” to overwhelm you. The “Pura Vida” lifestyle is one that anyone could get used to and falls in love with. And for all you of living in cold locations, you NEVER have to worry about a frost, there is always warm sunshine to look forward to, even in the rainy season.

So why are so many people retiring in Costa Rica?There are generally two reasons people want to retire in Costa Rica; the low cost of living and/or the moderate year round climate. However once they come here they discover many more reasons.

If you come here to retire, by definition, you must be at least a little adventurous. And you need that kind of spirit to survive some of the Latin differences. The new culture you find yourself in will be very evident immediately by two things; no one is on time for anything and compared to North America, Costa Rica seems to be much less efficient. However, after a while you will come to enjoy the laid back lifestyle.

View of the Pacific in Costa Rica

If you come, plan to learn some Spanish. The high literacy rate in Costa Rica means that there are many Ticos whose English is probably much better than your Spanish. However, you will need some Spanish to help you get around and shop in local stores, and just to be able to respond to friendly greetings.

There are legal considerations as to your status as a resident. Generally Costa Rica welcomes the influx of North Americans; they just want to make sure you will not be a drain on their social and healthcare systems. Therefore in one form or another you will have to prove you can sustain your living expenses while living in their country. This is done by applying for various forms of “Resident Status”. While you are applying you are welcome to stay in the country.

You can easily and legally buy real estate in Costa Rica. Other countries may have restrictions on foreign ownership, but Costa Rica welcomes it, and makes it very simple to buy Costa Rica property. Avoiding high US property taxes and avoiding hurricanes are bonus reasons to retire in Costa Rica.

If your dream is to be totally retired, there is no shortage of activities to keep you busy. In the Central Valley there are many entertainment and cultural activities; plays, concerts, art fairs, movies and great restaurants. At the beaches you obviously find more outdoor and water activities such as diving/snorkeling, nature tours, birding, fishing, horseback riding and surfing. There are 11 professionally designed golf courses throughout the country.

If you’re not quite ready to take yourself completely out of the working world, Costa Rica is a great Country to semi-retire in. With Costa Rica’s stable political situation, low taxes and robust economy, many people find that starting a small business is very desirable and financially rewarding.

Healthcare in Costa Rica is another one of the main reasons to retire in this beautiful country. Here, Americans don’t have to go back to the North America for medical procedures. Healthcare in Costa Rica is very good and getting better. North Americans have been coming to Costa Rica for years to take advantage of the excellent medical and dental facilities.

Most of the larger well equipped hospitals are located in the Central Valley. CIMA hospital http://www.hospitalsanjose.net is one of the best hospitals in Central America. CIMA is affiliated with Baylor University Medical Center in Dallas, Texas.

However, many new medical facilities are either under construction or are planned along the Pacific Coast. A new hospital is scheduled to open about 25 minutes from Dominical in 2008.

For these and many more reasons my wife and I retired here 6 years.  The business climate was so good we came out of retirement within the first year and have never looked back. Each year, we spend less and less time back in the States, and our families are thrilled to come and visit us in this lovely land.