With another year almost coming to an end, we would like to draw the attention of our friends and clients to the big picture. It has been clear for over a decade that the Central Pacific Coast of Costa Rica is, without a doubt, the premier location for investment, retirement, or vacation.  Today, with the new highway funneling everyone into this region, we have felt a tremendous increase in activity and know that it is only a matter of time before prices start escalating once again.

Becoming an owner of an estate-sized home site in one of the most beautiful up-scale communities in the area, overlooking the Pacific Ocean in its entire splendor, is the start to making your dreams a reality. Costa Reserva is on the verge of selling out and home construction is around the corner. The Accelerated Home Building Program will be coming soon as 2011 approaches. Also, those who are interested in purchasing a lot of the last phase can also take advantage of a tremendous Developer Credit until 2011. Those of you that are interested, please call our office for more information on reserving and enjoying the invitation program. There are also some available spots for the Discovery Weekend Gathering this November.

You dream of scuba diving but never got around doing it, or just not quite whether this is really your thing? The Parque Marina del Pacifico, in Puntarenas, has launched a brand new project with the construction of new aquarium. The $15,000 structure is financed by the BCIE (The Banco Centro Americano de Desarrollo) in conjunction with a Spanish group, La Agencia Española de Cooperación Internacional. The director of the Marine Park stated that the project is coordinated by the National University, the National Institute of Biodiversity and the Ministry of Environment, Energy and Telecommunications.  The Aquarium is expected to measure 4,200 cubic meters and the construction is set to start in 2012, to be ready for December 2013! The project is now in its first phase, that consist mainly in drawing the plans and everyone is anxiously waiting for the model that will show us exactly how the aquarium will look like.

It has been said that the fish tank will weigh no less than 1,600 tons, with a tunnel going where visitors will be nonchalantly stroll while being surrounded by huge impressive sharks! Bull Sharks, White Tip Sharks, Manta Rays and other Costa Rican marine species will be on show.

Puntarenas is typical of a town that held a certain prestige once upon a time, the little Cannes of Costa Rica. Things went sour however and Puntarenas lost its panache, the beach became polluted and the town began to take an air of abandon. Now it has recuperated its Blue Flag, symbol of a clean, environmentally friendly beach, and many projects are planned over the next few years in an effort to give this coastal city another chance. The port actually welcome cruisers and could well do with a face lift; the way it looks at the moment does not give Costa Rica justice. The new Caldera Highway also means that Puntarenas is now only about 45 minutes away from San Jose.

The new Aquarium is yet another reason to visit, fall in love and stay in Costa Rica, with its flamboyant flora and fauna, this little Central American Switzerland is probably the best place to live in this part of the world. Declared the country with the highest biodiversity, its marine life can now be enjoyed without necessary taking a course in scuba diving!

If you think you want to live in Costa Rica or that you are going to be a frequent visitor, you should then consider becoming a legal resident. Many opt for the seemingly easier solution of staying a tourist, and that means leaving and re-entering the country every three months.  Seemingly easier because the bureaucracy may seem off putting at first,  however, if you spend enough time here you will soon find out that life without a residency is even more trying and very restricted.

Upon entering Costa Rica, foreigners get given a 90 days tourist visa. Once this 90 days are up, you need to leave the Costa Rican soil for at least 72 hours. Many visit Panama, or Nicaragua! When you get back to Costa Rica, you are on for another 90 days. This tourist visa is what migration calls the B1 Visa. Although some people have lived like this for years, it is not really recommendable. There are of course various ways to “cheat”, but this often ends up more trouble than it is worth as it usually just extends your stay by 30 days!

Without a residency you cannot buy a phone line or open a bank account. While maybe there are ways around these things to begin with, eventually life becomes impossible and everything even more difficult to accomplish than it is already is in the first place! There is a say for this: No paperwork, no job, no muss and no fuss! A decade or so ago, it was still possible to survive like this but today, if you are not legal, things can get tough! Migration does not like it and every time you re-enter the country you get another stamp in your passport. The more stamps the worst the vibes at the airport, or any other border, and the more stressful it gets. If you have any investment in Costa Rica you could well be at risk of loosing it at any given time. Leaving the country every so often is also very stressful once the novelty has worn off, and in the end, quite costly. Beware of those who offer easy solutions that include hanging over your passport; you may never see it again!

If and once you decide to become a legal resident, you will find out that there are many types of residencies and different ways of obtaining these permanent residencies and that  includes marrying a Costa Rican citizen, having a child in Costa Rica or being a citizen of another Central American country or of Spain and being able to prove that you have lived in Costa Rica for a minimum of five years.

There are so many different types of residency that it may literally scare you off! From refugee to diplomatic status, there is one for everyone! However, rest assured, as usually the average person will need to pick out four types: Permanent resident which falls under the A1 category , pensionado which is for the  pensiones or retirees and rentista which could  be translated as “small investor” are of the A2 category , and inversionista or large investors have A3 visas.

The agency that reinforce the immigration law in Costa Rican law is the “Direccion General de Migracion y Extranjeria”commonly known as Migration. The actual building is everyone nightmare and the only way to survive it is to have a good book!The immigration office (Migración)  is located opposite the Hospital Mexico in the La Uruca section of San José. The office is open 8:30 a.m.–3:30 p.m

Become a resident most definitely makes you feel that you belong and once the headache of getting it is over, it is a much better way of living and enjoying this wonderful little country!

Now that you have decided to invest in Costa Rica, and maybe took the jump and are ready to start a new life in this wonderful country,  it is important to know about the local currency and the banking operations of Costa Rica!

The Colon is the official monetary currency, and while it is possible to pay in Dollars in most places, you will be far better off paying in the local currency.  The exchange rate always varies slightly, currently you would get 507 Colones for a Dollar. Changing money here is done in banks; watch out for people who offer change in the streets, not only will you get a bad rate but you may also get robbed! Private banks are a better option as they are in general a lot faster. As you will soon find out, there are two types of banks in Costa Rica: the National or State banks and the private banks.

The national banks offer deposit insurance, this means that your money is absolutely secure. This doesn’t mean that your money is not safe in private banks: however should something happen, you may not be able to recover your deposit in full. Private banks are still quite new here, with only 13 years of service. At the beginning there was a certain collaboration between the Central Bank and the private ones, thus offering protection of the customers’ deposits. Lately however they have grown  more independent. Last but not least, one advantage with private banking is that you will have a faster and more efficient service.

Looking at offshore banking, it has a tendency to raise eyebrows, however it is absolutely safe in this country as the government makes sure nothing illegal takes place and clients can rest assured that their monies and information about their funds are safe and well looked after.

Online banking has really taken off in Costa Rica and many people now use the Internet to transfer funds to other accounts, pay bills, etc…Online shopping is extremely popular here as imported goods tend to be rather expensive while online it is possible to find great bargains.

When you are ready to open a bank account in Costa Rica you will be required to produce quite a lot of documents. Don’t be put off by the many restrictions and endless bureaucracy. Mostly you need a load full of patience.

Once you have your account, you’ll be able to benefit from the many Automated Teller Machines (ATM) that are widely distributed around the country, including at the beaches  or any other touristic spot. You may withdraw Colones, or Dollars, depending on your needs, but you’ll definitely get a much better rate if you withdraw Colones. In general these machines are safe, and well lit, and you can lock the doors so that you may safely withdraw your money.  Recently, the ATM machines have been watched more closely with the arrival of the brand new 20.000 Colones notes.

The police was pleased to announce that so far there has been no rise in reports  of fraud or assaults. The new note only hit the streets  a couple of weeks ago and the police feared that it might bring a few problems, but it all went smoothly. Credit cards are now accepted almost everywhere, however, it is a good idea to always carry a bit of cash, especially if you plan to visit some remote areas.

All in all, banking in Costa Rica proves to be a safe, fast and easy process, yet another good reason to settle down in this marvellous small country.

Investing abroad and starting a new life in a new country is full of excitement, awe and surprises. Sure there my be uncertainties and doubts and it is important to be well informed so that these surprises are all but negative ones!

One important homework to complete is to get proper information about Insurance in Costa Rica, and to know how to compare and to establish what is best for you!

INS, or Instituto Nacional de Seguros, has been the number one Insurance in this country for a two decades and up to now a first choice for foreigners who opt for a company that is based in Costa Rica. The limit for the medical insurance has been set to $18.000 a year. Dental,ophthalmic and cosmetic surgery are only covered if it has been established that the treatment is needed due to an accident. The annual premiums run between $500 and $1000 for men aged 59 and up, for women they run between $850 and $1,300 and the for the younger ones, just $300.  Not very much when you consider that an Intensive Care can reach $3,000, meaning that you only have 6 days to recover before your insurance runs out!

If you have a car, you will have to pay for a third-party coverage as soon as you get your licence plate, and every time you renew your licence the insurance gets automatically the renewed as well, however should you need more coverage, such as insurance from theft or fire, you would need to upgrade.

Homeowner insurance is also covered by the INS. Should you have had the bad luck to be robbed, and this can be proven, the insurance would cover for the lost items; you would have had to declare the robbery first and had provided a list of lost items to the police. Eventually you would recuperate a mere 2% of the whole value of your possessions. Not a great deal, you may think rightly! There is also an insurance that protects your property against natural disasters, such as earthquakes, floods, or fires.

Finally, INS offers a Life Insurance program. Here again, compared with international companies, the benefits are rather mediocre.

But all this is changing!

A new Insurance Era is happening in Costa Rica! While the INS has been the state insurer for years, now competitors are emerging offering better options and greater benefits. Finally the old Institute is going to pay for its lame and incompetent service that has been causing much frustration to the public.

Mapfre, operating under the control of Mapfre-Mundial Latin America,  is apparently the first one to emerge and to start selling private Vehicle Insurance in Costa Rica; it has recently announced that it will be selling policies to as many as 50 insurance agents and brokers.

 Assa Insurer is also moving in after having received the authorisation from the Costa Rican Insurance Superintendence. This Panamanian Insurer, going under the name of Assa Compañía de Seguros, will be selling general insurance. Finally, Alico and Magisteria will in turn  be competing with Assa.

This is excellent news, making living in Costa Rica better and safer than ever! This little country is showing us that improvement is still possible even in such times when the economy is putting a strain on everyone, and more and more people are in search for  a better, happier and stress free life. Costa Rica is again proving to the best choice when it comes to live in Paradise.

The latest arrival is a new mobile Internet service called Kolbi Banda Ancha, in other word, Kolbi Broad Band. It is by no means a substitute for for the Acelera ADSL, however if you are always on the move and want Internet to travel with you, this is the one you need. This new service is probably going to replace the WiMax Wireless service that is presently offered by Racsa. As the cellular phone network is growing and expanding, so is the 3G network. It is expected that in a few years from now, this will eventually become the one and only way Internet will be provided in Costa Rica, whether at home, at work or out and about. For one thing, it will be easier to improve the Third Generation rather than to run cable in every household of the country!

The system works with the new Third Generation cellular phone, however there is no need to have a cellular phone with you to access the Internet. All you need to do is to plug in some kind of antenna device in the USB port of your laptop and there you go, you are connected! The maximum speed is 1.5Mbs and if you are providing the USB device that actually cost $80.00, the connection itself will only cost you $10.00 per month, the cheapest so far in this country. The downside of course is the speed as it depends on signal strength; it may get so slow as to become non-existent, and you may need to move around in order to get connected at all. If you find yourself in an area where there is no broadband access, then you cannot expect to get much more than 1Mb, and today this is virtually as good as having no Internet at all. Indeed, if you like to watch videos or movies from your laptop, this won’t work.  All in all, there is room for improvement, but as we all know, this is exactly what is eventually going to happen. In a few years this new connection will be fast and efficient, and probably will be the main, if not only, Internet provider.

It would seem that it is the fear of competition that has pushed the ICE to come up with new technologies such as the 3G Internet service. For those who are accustomed to high speed Internet available nationwide together with a choice of Internet provider, Costa Rica may look likes it still has some way to go! However everything is moving in the right direction and within the next 5 years we are certain to witness some interesting development in this growing little country! Those who first moved here a decade, or even two decades ago will agree that the progress we have witnessed is impressive; whether we are looking at technology, development, infrastructure, down to shopping and customer service skills, Costa Rica is a country that has shown that it is possible to speed up development while delivering quality. On the same token, it is still Costa Rica, as we love it: A small and charming Central American country, with so much charm, the most extensive biodiversity of the world, the best beaches and a climate to die for!

Having decided to come to live in Costa Rica you may wonder about the health and medical issue; Costa Rica’s medical care has taken on a very good reputation, and it is not without a reason that it is considered to be the best of Latin America.

There are two types of medical care; the health care covered by the social security that is actually required by law: In Costa Rica employees and employers alike have to pay their health care contributions, and those who are self employed are also required by the law to pay for the social security. There are of course various types of coverage to choose from for those who are non-Costa Ricans but residents. For people who are over 65 the social security is free, while medicines are free for all. If you ever have to go in the emergency of public hospitals it will never turn you away, whether you are Costa Rican,  a tourist or foreign resident.

The private health care is served by state of the arc hospitals such as hospital La Cima, the Clinica Biblica and the Clinica Catolica. Private health care in Costa Rica, which is likely to be what you will use unless of course you are employed in this country, is very much cheaper than it is in the US or any European country. The care that you receive in a private hospital or clinic may not be medically speaking better than in a Caja (Social Security Hospitals), but it does offer faster, more personalised service than in public facilities and foreign residents usually opt for this choice. You do feel a bit more pampered. The Caja hospital do look and will cure you of whatever it is you need curing, but don’t expect any special touch or explanatory speech, whereas in a private establishment, you will actually be taken in consideration and treated, at least, like an individual, and any special request, fears or preoccupation will get all the care and time it deserves.

While many private doctors get their education abroad, the universities here are very good as well. Whatever your need may be, you will find the right specialist. Many speak excellent English which can be a great relief when it comes to explain how one feels, even if you are quite fluent in Spanish. When it comes to describe symptoms and name body parts, it is important  to be precise and unless your Spanish is very good, you will be more at ease in your mother tongue. And of course, there are those who have just moved here, starting a new life and who have not had the chance to learn the language yet!

The health care in Costa Rica is in fact so good that some people actually come here to have life saving operations such as bypass and heart transplants. The hospitals are very modern and well equipped with top class medical stuff.

The Hospital CIMA, in Escazu right off the highway, is the latest one of the private hospitals  in the San Jose; it is affiliated with the Baylor University Medical Centre in Dallas, Texas and managed by International Hospital Corporation of Dallas, Texas. This hospital offers full service. It boasts the latest health care technology and equipment and the most sophisticated physical plant in Central America. It offers complete services including ultrasound,  X-ray, ultrasound, emergency and intensive care, and an avant-garde coronary unit.

The Clinica Bíblica , in downtown San José, is now affiliated with the Blue Cross-Blue Shield network and Medicare. The Hospital Clinica Biblica is favored by many foreigners here because of their extremely friendly service.

The Clinica Catolica is located in Guadalupe, a suburb of San Jose. It is fine private hospital with complete hospital and emergency services 24-hours a day, 365 days a year. It is not very big and has the advantage of being able to really pamper its patients.

C.A.R.E. at Los Sueños Resort in Jaco Beach is a private emergency medical center located in the Jaco Beach area. This is a general medical consultation with offers general care, an advanced life support ambulance, and minor surgery.

Costa Rica has also become a number one destination for top class low cost cosmetic plastic surgery. Indeed, Medical Tourism here has taken on huge proportions; thousands come here to have either cosmetic or dental surgery at outstandingly inexpensive prices. The clinics are stylish and very well equipped, the surgeons are top class, and the recovery centres provide you for a phenomenal pampered holiday in a dream like location, in some exquisite small hotel or pension!

Why Costa Rica? It is a safe, politically stable country, pleasant with a great climate, nice people and with an outstanding wild life, the most amazing beaches, primary forests, and it is just a great place to be!