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Hi everyone,
My wife and I are contemplating moving to Costa Rica for a more down to earth life style. We have businesses in Canada but would invest in the local economy and employ locals. Although we like and lead a fairly quite life, we would like to know where other Canadians are living within Costa Rica? Is there a “Canadian Forum” for tips and moving issues more directly relative to Canadian tax laws or issues?Like any other expatriate, the Canadian can be found in many different areas of Costa Rica and like most expatriates, the majority of them are probably in the Central Valley area.
There are no special Canadian forums that I know of and apart from taxes, I would assume that Canadians have the same worries and concerns about relocating as the rest of us…
Unlike Americans, Canadians are taxed on their place of residency, no? As long as they are legal permanent residents of Costa Rica they would be taxed as non-resident Canadians yes?
As far as ‘down to earth’ lifestyle is concerned, surely you could arrange your lives to enjoy that in Canada? I’m not sure why someone has to leave their own country to enjoy that lifestyle… And if you think that starting a new business in Costa Rica where you would “employ locals” will be a “down to earth” and give you a “quiet life”, you may want to re-think that idea…
Starting a new business anywhere would probably not fit that description.
Scott Oliver – Founder
WeLoveCostaRica.comThe area’s we would be most interested in is near the beachs. My concern with taxes is how it is taxed when brought into the country from abroad on a monthly basis.
We are already located in a rural area of Vancouver Island with all its beauty and enjoy a lot of time in the wilderness beside a lake or stream. The beaches are full and noisy with little privacy and often too cold. The climate and natural beauty of Costa Rica is what attracts us. Even in the rural areas here we have virtually the same hustle and bustle as the major centres due to their co-existance and dependance on each other. Hearing the stories of “Costa Rica Time” is a pleasure. Perhaps just having the businesses here will be enough.
In any case we plan a trip to see where we might want to relocate to and do some research and due diligence to ensure our thoughts are clear and accurate.
Thanks
MarkVisit http://www.canadianclubcr.com They are not to answer all your questions though.
It’s my understanding that income generated from outside of Costa Rica is NOT taxed when you bring it into Costa Rica.
Scott Oliver – Founder
WeLoveCostaRica.comThis posted in the wrong place and reposted here by Scott
Posted Mar 13,2009 5:49 AM scurrie
If you are Canadians who can afford to invest in CR with the exchange rate at 25% on the Canadian dollar then you must have money to burn. How can you even contemplate such a move. I too am Canadian and had some property lined up in CR that we fell in love with and could pick up at a very reasonable cost in US dollars. Unfortunately when the Canadian dollar is in the toilet as it is at this time how can you possibly justify paying out an extra $86,000 on say a $300,000 investment?
I think most Canadians would agree that this is just not a wise move. I love CR and would give a lot to have a place there. Unfortunately my bank does not have the same emotional attraction I do.
Like I say if you are in the upper tax bracket in Canada I guess it doesn’t really matter. But if you are just a regular Canuck like the rest of us. You are just going to have to wait it out and hope the economy recovers in our life time. Other wise this whole Costa Rican US dollar run economy is just a pipe dream.
It seems to me that a lot of posters on this thread are ignoring the elephant in the corner of the room just to keep promoting CR as el paradiso. Which of course it is in a lot of ways. But lets give our heads a shake. This is Canada our dollar is useless outside of the country.
Steve
Sir
That is one more reason to get out of Canada now. You need to find a small complex on a nice beach say with 23 lotes if you are interested the owner will pay u commissions to invited your friends and have an all Canukdivision. They don’t have to spend $400K
Stan
President
BBEAs Canadians who have lived here for nearly 9 years, the dollar is back where it was when we moved here, and we lost ‘lots’ in the conversion. Luckily, prices were lower then.
I know of one small project that was bought about 15 years ago by a Canadian who tried to do what the other poster mentioned, selling to other Canadians. Even now, especially since the property they picked was in the middle of no-where with only a couple of lots sold, and only the original investor built a small house. This did not then and will never fly!
You do not pay tax on Canadian earned income, here.Sir
I agree with the fellow below also. You don’t know me from Adam. You have to go and look. If you want beach either buy titled or find a lot beyond the maritime zone. My project is 500 meters from the beach. The important is come and have a good time and look around. I don’t know if Scott gives tours, I know that He might. Send me your email and I will give you a site.
Stan
President
BBEFYI – Scott never has given tours and does not presently give tours….
Scott Oliver – Founder
WeLoveCostaRica.comI know of lots of Canadians living full or part-time in Costa. Life is about more than money and exchange rates. The adventure of life in a new country can be worth more than a poor dollar exchange. In addition the lack of consumer culture as compared to the US/Canada is a refreshing change.
Outside of San Jose, Costa Rica is pretty rural and in that sense allows a more down to earth and quiet existence.
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