You’ve heard it before and it’s worth repeating; ‘When It Sounds Too Good To Be True… It probably is.”

Costa Rica is a truly beautiful country and for many, it is the ideal place for Canadian foreign investment but, please do not leave your brain on the plane!

You must remember that in Costa Rica, any ‘Tom’, ‘Ricardo’ or ‘Harry’ can call themselves an investment advisor with zero education, no training, no qualifications and no regulatory oversight whatsoever… Just like “Realtors.”

Where Can Gringos Invest?

As a professional investment advisor for the last 20 years – but no longer – US citizens have zero options when it comes to legitimate offshore investment funds who want nothing to do with them but, inside Costa Rica there are many options…

A more appropriate question should be: “What legitimate, secure and verifiable investment products are available? Products that may be similar to the ones that you are accustomed to ‘back home’ and, “Is there someone with comparable, professional investment qualifications that could help me?”

When living in Costa Rica and evaluating foreign investments that might be appropriate, please get the answers to the following ‘basic’ questions:

1. Who exactly is handling your money?
2. Where was the company formed & registered?
3. Who exactly owns the company?
4. Where is the company’s physical headquarters?
5. Who exactly is the President?
6. Who exactly are the other Executive Officers of the company?
7. What part of the world are they from exactly?
8. Are they qualified to do what they say they do?
9. Are they licensed? If so by whom?
10. Who and where are their traders?
11. Who and how exactly will they invest your money in?
12. How exactly do they manage ‘risk’?
13. Who exactly audits their company’s track record?
14. Where exactly do you wire your money? Which banks? To which account?
15. With which professional bodies are the traders and the principals of the firm registered?
16. How can you verify this information?
17. Are you really comparing apples to apples? For example, you know that a AAA rated investment in Costa Rica is NOT the same as a AAA rated investment ‘back home’, right?
18. Does the person ’selling’ you the idea have any qualifications, training or experience in personal financial matters?

Take notes of your discussions and write down the names of all of the people involved.

Remember! This is your money. You can ask any damn question you want…

The Costa Rican government is promoting a plan to help developers build projects centered on health care facilities for foreign retirees.

New developments would offer clusters of services, including nursing and research facilities, catering to senior citizens looking for an inexpensive alternative to medical care in their own countries

In the wake the global economic slowdown, health care centers are an opportunity for developers to “change strategy,” Minister for Competitiveness and Regulatory Improvement George Woodbridge told La Prensa.

Retirement communities generate “two to three times” the revenue of traditional tourism and real estate projects, Woodbridge said. A population of 10,000 retirees could produce 40,000 jobs and $340 million in foreign exchange, the government estimates.

Last year, medical tourism attracted 30,000 visitors to Costa Rica, according to government data. That number is expected to increase as health care costs continue to rise. The U.S. is expected to generate 1.3 million medical tourists in 2011, according to a report by the Deloitte Center for Health Solutions, which ranks Costa Rica in the top 10 destinations for medical tourism.

Until recently, most of the traffic in the past has been young people looking for cosmetic surgery and dental work, not seniors, Deloitte says.

“With health care at the center of attention in the U.S. this concept could certainly gain ground if implemented properly,” Panama developer Sam Taliaferro notes in his Panama Investor Blog. “If Obamacare gets legs one area that you can be sure will be left out in the cold is alternative health care practitioners. I bet they will head south with technology and skills.”

(For the record, the World Health Organization ranks Costa Rica’s health care system at 36th in the world, one spot ahead of the United States.)

Buying a home site and building your own home can be a daunting task anywhere in the world; it is no different in Costa Rica. However, with proper due diligence, and a realistic evaluation of budgetary concerns, the process can be the most rewarding way to express your dream of living in Costa Rica.

Tips For Finding Your Home Site

• Find your climate. Costa Rica is subtropical, so it seems like a no-brainer to those arriving from the North. However, Costa Rica’s mountainous terrain creates an incredible diversity of micro-climates. A few hundred feet in elevation can be significant. Rainfall amounts can vary, too. For those who can afford to, it is invaluable to see the country in both the dry season and the rainy season.
• Find your town. First, read any one of the fine books published about Costa Rica. You will learn about the town history, the people, what modern conveniences are available, etc. Once you have found a town (or towns) that seems to suit you, plan your trip to Costa Rica to see for yourself. Ultimately, no amount of research is sufficient without experiencing a place firsthand.
• Find your lot. Our communities are in San Ramon and have ocean views. We believe that the location is ideal, and offers a tremendous value. There are some fundamentals for lot buying that should be considered, regardless of location: title, infrastructure availability, and engineering. First, a lot should be researched by a lawyer who can obtain information from the National Registry to be sure that the property is clean, and has no issues outstanding. If the property is in a gated community, very often the developer will purchase a clean corporation for the property in order to make for an easy, less expensive transfer than a person-to-person sale, as well as to make it easy for the buyer to obtain their utilities. We have done this for all of our lots. The second consideration is the ease of installing infrastructure (if it does not already exist). Very often a lot that seems far cheaper than other similarly-sized lots will be raw land. The cost of infrastructure, viability, and placement can be very complicated. Be sure that you know the real state of the lot before purchase, taking into account the cost and time for development. Lastly is the engineering that a lot might require. Some of these “hidden” costs can include driveway engineering and installation, need for retaining walls (VERY costly), resolving drainage issues, creating a plantel (flat, buildable space), and being aware of home placement based on underground springs, nearby rivers, or road frontage.

Tips for Making Your Home Construction Easier

• Have patience. Like anywhere, building a home is not a perfect process. Building a home in a developing country can be an even greater challenge. By selecting a builder with strong references, integrity, and a dedication to quality, you will find the process easier than you might expect.
• Understand your financial situation prior to signing a contract. Obviously, building a home requires a significant outlay of money. Before deciding to start construction, assess your financial situation and determine both how much you can afford and when those funds will be available (if not immediately). Also, don’t only think about the cost of building your home, but what it will cost to live in your home.
• Know what you want. It’s important to have a good idea of what you want in a home prior to signing a contract. This will make the process go more smoothly and avoid costly changes once the process has started. However, this doesn’t mean you have to go it alone. If you are at a loss for ideas, talk to friends and family. Also, and probably most important, describe your needs to your trusted builder so he or she can come up with some ideas that may work for you.
• Communicate. Reputable builders want to build you the home you’ve always dreamed of and will work hard to meet, and oftentimes, exceed your expectations. However, we find that the vast majority of issues arise due to lack of communication or miscommunication. Follow up in writing on all major decisions and don’t assume items mentioned in person or on the phone will always be remembered. Your builder will likely be working on several homes at once, so it’s important you confirm all details.
• Be reasonable in your expectations. We realize that building a home is one of the most important decisions you will ever make, and it will involve a significant monetary investment. Your builder should realize this too. However, just because this is Costa Rica, it doesn’t mean it will be cheap, or it will be similar to building in North America or Europe. Things are different here (to some extent) and oftentimes things move more slowly than in your home country. However, a reputable builder is very experienced at operating in this environment and you should trust their judgment on what’s possible or not possible as you design and build your home.
• Consider micro-climates. Costa Rica has many micro-climates. It might be sunny and 80 degrees in one spot, but windy, cooler and rainy just a few miles away. As you design your home, work with your builder to better understand the micro-climate of the area you’ve selected and how to build a home suitable for that environment.

What Does it Cost to Build a Home in Costa Rica?

The final cost of your home will depend on two factors: how large your home is, and what type of finishes you select. A “cost-plus” basis is usually the best way to ensure that the construction process will be efficient, transparent, and timely. Typically, you can expect to pay roughly between $75 per square foot and $95 per square foot which will include permitting, architect’s work, construction, and the purchase and installation of most finishes such as kitchen cabinets, countertops, and appliances, flooring, kitchen/bathroom fixtures and associated plumbing, and lighting fixtures. Your builder will advise you on the type of finishes possible based on your budget. If you are unwilling to work on a cost-plus basis, a bid will be provided. However, in our experience, a guaranteed cost usually means a significantly higher profit margin for the builder. We’ve also found that sometimes contractors (the dishonest ones) will provide a low bid in order to get the job, but then surprise you later with “that wasn’t included,” etc.

In addition, it is important to do as much thinking and research about the type of home you want, the layout, size and of number of rooms, whether you want a guest house, garage/car port, pool, or other structures, prior to signing a contract. Re-work during the construction process not only can lengthen the time to complete your home but also will likely increase the cost as more material may be needed, walls torn down, etc.

How Do I Pay For My Home?

Generally, construction services are paid for in cash, including an initial deposit and then periodic payments as your home construction progresses. The schedule for payments will be determined between you and your builder. Payment is usually made by wire transfer. It is important to allocate funds ahead of time so construction of your home is not delayed.

How Long Will it Take to Build My Home?

It normally takes between six and nine months to build your home. A number of factors could lengthen the time to build your home including the extent to which pre-work is necessary (such as lot preparation), the size of your home, weather, and the availability of the materials you select. After discussing your specifications with your builder, they will give you a more specific time estimate.

What If I Am Not Living In Costa Rica During The Construction of My Home?

It is preferable to be in the country during the construction process in order to inspect the work on a regular basis. However, this is often not possible for many people. Therefore, your builder should provide frequent updates on the progress of your construction and send you photographs as certain milestones during construction are met (i.e., foundation is laid, roof is put on). If at all possible, it is helpful for you to visit at least a few times during the home construction process, particularly to pick out tiles, cabinets, appliances, and other fixtures.

We hope that this short guide gets you started toward realizing your dream of building a home in Costa Rica. We have years of experience finding land and creating communities. Please CONTACT US as you begin your search — we will be happy to assist you!

Not only has Costa Rica elected its first woman president  (only the 5^th in Latin America, but one of more than 50 the world over since 1960), they have done it by a landslide, as Chinchilla nearly doubled the percentage of her nearest contender, Ottón Solís.

In my local neighborhood of Atenas, there was a marked air of festivity surrounding this year’s election.  The area was draped in the green and white of Chinchilla’s PLN party; caravans and parades would follow.  Costa Ricans who I spoke to said they had never seen such voter turnout and enthusiasm.  While Americans were screaming at their TVs during the Super Bowl, the same level of emotion could be observed by Costa Ricans in front of their TVs:  arguing, debating, and speculating, but fully absorbed by the event.

Doña Laura has been criticized by some as being a puppet-like extension of former President Arias, serving as another “president for the wealthy.”    Since the do-nothing presidency of Abel Pacheco, however, Costa Rica has been observably transformed.  Many were fearful of the swift action proposed by Arias after 4 years of sloth by Pacheco, which produced a very thin victory for Arias in the last election.   But, it seems that an objective look at the state of the nation by most Costa Ricans has led to the conclusion that the current development and change that is taking place will indeed benefit nearly all Costa Ricans.  Moreover, the policy extension can be seen as a willingness to walk the fine line of luring and placating all-important foreign investment, corporate business interests, tourists, and retirees.   If Costa Rica can continue to walk this fine line between the fast-changing modern world, and the slower, Pura Vida-defined world of its heritage, it will continue to be a shining example on the world stage.

Chinchilla has extolled the policies of President Arias, and certainly has not indicated any change in direction to what she cites as, “solid growth and development.”  She intends only to “propel them forward.”  She has also responded to polls that overwhelmingly show the concerns of most Costa Ricans:  crime, insecurity, drugs, and domestic violence.   She promises tighter border control, improved police equipment, and not to shrink from addressing some of the underlying “Machista” attitude taking place behind closed doors.  She believes that by reducing poverty and focusing on the needs of women (with a possible nationalized daycare system), empowerment will follow as opportunities are equalized.

Perhaps the largest gap between perception and reality is with the country’s ailing infrastructure.  The new San Jose-Caldera highway opened under fanfare and media attention, and now provides the ability for people to sail along on a straight, flat road.  However, it is also true that many key bridges, roads, and the nation’s ports remain in poor condition – the president-elect would do well to shore up those lacking areas, lest she encounter more accusations of putting the interest of foreigners, businesses, and the wealthy ahead of the average citizen.

It is a momentous time for the small country of Costa Rica.  As a foreign resident myself, I cannot identify as intimately as Costa Rican citizens with what is at stake, culturally, but I am overwhelmed by the courage and involvement of the people of Costa Rica in coming to such a historic vote.

Michael Anthony

With most of the votes from Sunday’s election counted, Laura Chinchilla held a 22-point lead over her closest rival. Her 47 percent share of the vote was well beyond the 40 percent needed to avoid a run-off.

The 50-year-old protege of the current president, Nobel Peace Prize laureate Oscar Arias, promised to pursue the same economic policies that recently brought the country into a trade pact with the U.S. and opened commerce with China.

“Today we are making history,” said Chinchilla, who will be the fifth Latin American woman to serve as president when she takes office in May. “The Costa Rican people have given me their confidence, and I will not betray it.”

The closest contender, Otton Solis of the Citizens Action Party, got 25 percent of the votes. He and the other main rival, Libertarian Otto Guevara, quickly conceded defeat.

It was unclear, however, whether Chinchilla’s National Liberation Party would gain a majority in congress.

Analyst Heather Berkman of the Eurasia Group said coalition building without a majority would likely delay or derail controversial fiscal reforms to shore up government finances and energy deregulation.

The third-place candidate, Guevara, congratulated Chinchilla as “our president,” but he also pointed out the new political muscle of his tax-bashing Libertarian Movement Party. He won 21 percent of the vote.

Arias’ economic policies helped insulate Costa Rica from the world economic crisis as he kept a high profile on the world stage as a negotiator in Honduras’ political crisis after a coup deposed President Manuel Zelaya in June.

Read Entire Article Here

Property Highlights:

* 37 titled lots

* 1,500 foot elevation offers much cooler weather than the Guanacaste coast

* Many nearby activities

* 40 minutes to Liberia international airport

* 30 minutes to Liberia city center — many shops and restaurants

* Permaculture design focused on self-sufficiency

* OWNER FINANCING AVAILABLE: $20,000 DOWN $608 PER MONTH FOR 5 YEARS

Property Description:

New sustainable community nestled in the foothills of Rincon de la Vieja volcano in Guanacaste, Costa Rica has 37 titled lots of 1.25-acres (5000M2) each. Pristine country setting in an area famous for nature-loving adventure sports like canopy tours, rappelling, horseback riding, hiking, mountain biking, thermal baths, and much more. Only 30 minutes to Liberia center, 40 minutes to international airport, and less than an hour to Northern Pacific beaches.
Situated above 1500ft elevation with a cooler mountain climate, the majority of lots are flat and entirely usable while offering sweeping views of the Guanacaste countryside, the Rincon volcano, mountain ridges and sunsets over the Pacific.

The community is being developed in harmony with nature using the rich volcanic soil for a permaculture project creating edible forests, organic gardens, aquaculture ponds, and small livestock. The community center will include a pool, fitness center, sporting and wellness facilities.

The developers are offering special pricing of $50,000 per lot during the development phase. Developer financing is available for $20K down, $608/mth for 5 years. Excellent investment and beautiful setting for full-time natural living in Costa Rica.

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However, Ruta 27 is not cheap. A round trip between the Sabana, San José and PuertoCaldera, Puntarenas, costs ¢3.860 in tolls (¢1.930 in each direction), for the 77 kilometre trip that takes less than an hour.

On Wednesday, Costa Rican president, Oscar Arias, officially inaugurated the road wich for some moments was open to the public from Orotina to San José, who were met by protestors at Pieades (Cuidad Colón exit), having to turn around and take the San Rafael exit that weaved around the La Reforma prison and ended up at the Panasonic.

Protestors were out early in the morning to stop the inauguration and opening of the highway.

A truck dumped debris on the road under the bridge at Piedades and then about 50 protestors maintained a road block all day long, waiting on the presidential motorcade to arrive, to make their concerns known to president Arias.

However, the presidential motorcade took the San Rafael route, avoiding the roadblock, to attend the inauguration ceremony at Orotina.

The road officially was opened to traffic Wednesday night and the toll stations began collecting at midnight.

Even though the road is now open and the tolls are being charged, parts of the road is still missing signaling, bus stop bays, lighting and rail guards.

What the road means to many is a savings in time, fuel and wear and tear on their vehicle.

Some prefer to call the highway a road, since it is for the most part a two lane road that weaves between the mountains, not much different than the other roads that lead to and from the Pacific, but with tolls.

Until yesterday, the only routes to and from the Pacific  coast from San José was the Cambronero or the Desmonte (Aguacate), which took almost two hours to make the trip between San José and Puntarenas.

The new San José - Caldera road now means the trip takes less than an hour and no mountains to climb or descend.  Also, the new road offers passing lanes at points where there some gentle climbs, allowing slow moving traffic to the right.

Whatever you call it, a road or a highway, to paraphrase president Arias during the inauguration ceremony on Wednesday, the new highway will be a boost to tourism.

Source: Inside Costa Rica

Costa Rica Beach Championships

As a former college and beach volleyball player, I was thrilled when Atenas Costa Rica was chosen to host the beach and indoor volleyball championships for the 2010 Juegos Deportivos Nacionales (National Sports Games). Beach sand and bleachers were shipped in to the Central School Park where three courts handled the men’s and women’s under 21 tournament. In addition, the gym in Atenas was retrofitted with new sport court volleyball flooring for the indoor tournament.

The event welcomed teams from all over the country and offered a great time for Atenas residents. Admission was free to the public who enjoyed the high level of competition and various food vendors. The men’s championship match for the two-on-two beach event was this Saturday. There was standing room only to watch the final between Escazu and Atenas. Escazu entered the championship match undefeated, while Atenas lost one match (to Escazu) and had to climb through the loser’s bracket to face Escazu in the final.

Both teams were highly skilled and athletic which made for an epic battle. The lively crowd was overwhelmingly routing for their hometown team and their energy proved to feed the underdog Atenas duo. Raúl Sandoval and Julio Álvarez of Atenas won the first game to the delight of the crowd, before narrowly losing the second game to force the tie breaker.

A skirmish broke out in the crowd during the second game between several Atenas fans and a single Escazu fan which caused a break in the action followed by loud chants of “Ole, ole, ole, viva Atenas!” Atenas jumped to and early 4-to-0 lead in the final game to 15, and they never looked back. With the crowd cheering wildly, the Atenas duo claimed the 2010 Beach Volleyball Championships.

In a country that is crazy for soccer and not much else, Atenas has created a legacy in volleyball. The success of men’s indoor team who are also perennial national champions has spawned youth programs for boys and girls. Their success also brings pride to locals and resident expats. The event was such a success in Atenas that the commission is considering Atenas as the regular host of the volleyball games for years to come.

For volleyball players and teams in the U.S. interested in touring and playing Costa Rica teams, a new tour company is offering volleyball tours in Costa Rica. Your teams of all ages can come to play local competition and enjoy the many attractions of Costa Rica. Find out more information at http://www.costaricavolleyball.com/.

Jeff Hickcox – Author of the Real Estate Investing Guide – Costa Rica

Costa Rica was the fourth and final stop Monday on Qatar Emir Sheikh Hamad bin Khalifa Al-Thani’s tour through Latin America, in a visit that included Argentina, Venezuela and Brazil.

The visit – the first by an Arab head of state to this Central American country – is expected to bring Qatari investment in fields such as technology, science and the economy in Costa Rica.

“It’s a new window we are opening for the Arab world; with a country that is very wealthy and with a personal friend of mine and a friend of Costa Rica,” said Costa Rica President Oscar Arias.

Arias announced plans to open an embassy in Qatar capital Doha in the coming months. Qatar officials said they, too, would open an embassy in Costa Rica.

The decision to open an embassy in Doha comes less than a year after Arias closed three (in Bolivia, Paraguay and Czech Republic) due to financial reasons. Arias also closed consulates in Puerto Rico and in Chicago.

But Arias said an embassy in Qatar would encourage investments from Arab countries.

“We don’t have an embassy in the Arab world,” Arias said. “And they have interest in investing in tourism and in agriculture (here)… If we don’t have an embassy in the Arab world, it would be very difficult to solidify certain investments.”

Qatar, a small country of 1.5 million on the eastern coast of Saudi Arabia, is the world’s largest producer of liquefied natural gas and has the third largest gas reserve in the world, according to the U.S. State Department. The per-capita income in 2007 was $67,000, the fifth highest in the world.

“We don’t want to let this opportunity pass,” Foreign Minister Bruno Stagno told reporters before the meeting, which was held at the Four Seasons Resort in Peninsula Papagayo in Guanacaste. “This is significant.”

Asked why the Qataris chose Costa Rica, Stagno said the emirate is looking to diversify its investment portfolio.

“They know that Costa Rica is a stable country and a country that is attractive for real estate, tourism and technology investments. They are looking for secure destinations and this is what we are giving them,” he said.

Costa Rica and Qatar began establishing diplomatic relations in March 2004.

The agreements signed Monday promote cooperation between the countries and provide protection for investors under certain circumstances in the areas of expropriation, repatriation and currency convertibility, meaning investors may be protected against certain types of government action.

Costa Rican officials neglected to define specific investment projects, but mentioned housing, infrastructure such as ports or highways, telecommunications and further development of high-end tourism as top priorities.

Arias said a mission from Qatar will remain in Costa Rica to learn more about the country’s investment opportunities.

Al-Thani arrived on Monday at the Daniel Oduber International Airport in Liberia and was scheduled to leave the same day. He assumed power in 1995 when he deposed his father while the former ruler was traveling Europe. The father and son have since reconciled.