Owning Costa Rica real estate and working with Palms International Costa Rica offers its obvious benefits: access to exclusive Costa Rica properties along the world’s most beautiful coastline in a country with natural tropic sanctuaries, and a laid-back lifestyle. It’s no wonder that more people than ever are considering the benefits of living in Costa Rica.
While living in Costa Rica, has its obvious advantages over the fast-paced U.S. lifestyle, another, more practical benefit of owning Costa Rica real estate and living here are the taxes in Costa Rica. And Palms International Real Estate Costa Rica has exclusive luxury properties that allow you to live in this beautiful country while enjoying all it has to offer.
Living and owning real estate in Costa Rica offers a tax haven for those looking to live or retire abroad. From low income taxes to limited taxes on Costa Rica real estate and no capital gains tax in Costa Rica, you’ll find more financial benefits than ever to living and owning real estate in Costa Rica.
Low Taxes and Great Values Make Living in Costa Rica and Owning Costa Rica Real Estate That Much Simpler
Taxes in Costa Rica are based on a territorial tax system. This means that taxes in Costa Rica are only based on income earned inside the country itself. There are no taxes imposed on income derived from foreign sources and there is no discrimination in taxes payable by residents of Costa Rica and non-residence.
Pair that with low property taxes and great values on Costa Rica real estate, and you’ll see why Costa Rica is one of the most tax friendly places to live and retire abroad. Property taxes on Costa Rica real estate are 0.25% of the property value and there is a small transfer tax on real estate in Costa Rica.
In addition to the concept of territoriality and low taxes on Costa Rica real estate, there are no capital gains taxes in Costa Rica. In the United States, the capital gains tax rate for the year 2013 can go up to over 40%, depending on your income bracket. Compare that to 0% and living in Costa Rica just got 40% more attractive.
While individual tax rates in Costa Rica are from 0-25%, corporate tax rates are at a maximum of 30%. In addition to that, there are no city or state taxes in Costa Rica and high interest bearing bank accounts are also tax free.
If you’re one of the many considering the benefits of living in Costa Rica, you can count the reasons and count your dollars. With the low cost of living, great values on Costa Rica real estate and one of the most beautiful settings in the entire world, taxes in Costa Rica are just one more benefit that you’ll discover as you watch your dollar go further while your quality of life keeps getting better. For more information on living in Costa Rica and owning Costa Rica real estate please contact Palms International Real Estate Costa Rica.