Forum Replies Created
-
Posts
-
Hey Can Adian,
Scott outed me a while back and revealed my name too! Seems he didn’t believe my name was Jim Nasium. LOL
Plain and simple… the “Award” was give for style rather than substance… and I for one think it’s foolish, dangerous, and an insult to those that have received it previously. All part of the Obama spin machine. Lots of style and gloss… but no substance. And just who was it that nominated him?
A few months from now when the world’s myopic memory kicks in he’ll be getting referred to as “Noble Peace prize winner”… and no one will remember that he was awarded the honor for nothing!
I’m wondering… has Jimmy Carter chimed in yet? I’d be very interested in hearing what his take on this is?
Agreed… no glove… no love! I respect the guy for trying to do the right thing… but I’m guessing this isn’t the life he had planned in paradise! I know if the guy wanted to “escape” and dodge his responsibilties he could…
Let this story be a reminder to everyone… the place is beatiful… as are the ladies… but be smart!
2BNCR… you forgot to finish your sentence…. “So get your residency and start working… for $3.00 per hour!” A tough way to make a living and get residency if you ask me. It would seem that if this poor fellow is already court ordered to pay child support the issue of paternity has already been addressed. And the fact that he’s paying child support (doing the right thing) in the first place means the relationship with the mother is over. And now he’s a prisoner in CR, unable to leave, getting “visits” from the local police and facing the fact that it will be very difficult to find a job that pays a “gringo” living wage that provides a decent standard of living while supporting his baby’s momma. Welcome to paradise!
Edited on Oct 08, 2009 16:56
I’d have to agree with you there Scott! “Giving” residency to folks that have already made an investment in CR in the form of a home purchase really does nothing for the economy… a home, for the most part, does not generate jobs or income for Ticos. While some might argue (rightfully so) that paying a gardener, caretaker, or maid is creating jobs and incomes for local folks I don’t think that’s what the government has in mind.
I don’t think that’s the intent or purpose to that provision. More likely it’s the same INVESTMENT scheme that’s been around for a long time. Real investment in a business that generates jobs and more importantly… TAXES! And as I said, I’d be hard pressed to place myself on the radar by “declaring” my $200,000+ home to the government to get temp residency… seems between the new RE taxes and the 13% CAJA tax it’s just another step towards opening yourself up to getting noticed and milked by the boys in San Jose.
As I’ve said… governments are looking for ANY revenue stream they can these days…. and taxing “rich” gringos in expensive houses seems like a nice way to add some income without upsetting the locals that vote! Don’t fool yourself for a moment thinking that the new RE tax on “luxury” homes will be the last attempt to tax you. Folks in the concession areas are already seeing what government is capable of with the new taxes there. And since you don’t “own” the property you’ve built your beachfront castle on… it’s not that difficult to take it away! Be warned. Security through obscurity.
Edited on Oct 06, 2009 00:11
Interesting information. I’d like to see more details. But there’s a few things that concern me.
The first being that this option might having folks valuing their property higher then is needed to take advantage of this program and thus being impacted by the new luxury home tax. Funny how the new home tax hits at around $180,000 and you need to show an investment of $200,000 to jump on this residency option.
Second, if one is able to take advantage of joining CAJA under this program is their worldwide income now taxed as others have suggested at a 13% rate? More income coming the way of the folks in CR. And let’s face it, if you’ve spent $200,000 on a home in CR chances are you have health insurance anyway… so there really isn’t an advantage for you there.
And lastly, giving any information to the government places you on the radar for further taxing… make no mistake about it… if the folks in CR are offering this and it’s retroactive to folks that have already invested in real estate (and thus not attracting new money coming in) what advantage is the government or the economy getting other than a lot of useful information that will be used at some point in the future to further tax you?
Nothing is free in life… and this “offer” seems to have a smell to it that I’d rather avoid. I hate to sound paranoid… but governments are looking to any revenue stream they can these days… joining a program like this seems to give them too much information that will no doubt have ramifications down the road!
I’d have to guess that between the slowdown in interest in Costa Rica (and relocation retirement everywhere) and the economy in general that now is not the best of times to go with a paid subscription business model Scott. There may be millions of baby boomers out there, but between their 401ks becoming 201ks and the implosion in the real estate markets in many parts of the world folks don’t have the cash to make the big move at the moment.
This site has always had great content, that which you provide, submissions from folks in the know and in the market, and most importantly these user forums. My guess is pretty much along the lines with Countdown… a paid format will result in a major loss in current users that will not be replaced with new subscribers.
It’s your site Scott… and your call. I know you’ve always had the best interests of promoting CR and providing valuable information to folks… and allowing folks to exchange ideas and info… but at the end of the day this is a business, cost money to host, and takes up a lot of your time… it’s not a hobby and you’re not a charity.
The user forums to me are one of the most useful part of this website. While I one for would be willing to subscribe under a paid format (hopefully with a nice legacy rate!) to continue having access to this site… I’m not sure that the level of participation over time will continue to provide the useful exchange I find so valuable.
The paid content online format that many news outlets have experimented with has not worked out as they had hoped… and I’m not sure it’s the way to go here either. No matter what you may decide I’m sure you have the best on intentions… and those of us that have been around a while know that!
I’m thinking it might be quite a long time before we see a market at 14,000! The US economy is going to be on life support for some time to come. And REAL value in the stock market these days is VERY difficult to find or justify! As for Real Estate in Costa Rica as an investment. There are some good values out there… you have to know the true value of things and take your heart out of it if you’re shopping as an investor. And there are some fire sales…. folks caught short… projects in need of cash…. and of course there are still crazy Ticos and greedy Gingos waiting (or who waited too long) to cash in with very silly off the chart prices!
Best advice… be patient… look around… keep your powder dry… and if you have the cash… be sure you remember that in this market YOU are in the drivers seat! For too many year in CR sellers were making the folks holding the cash feel as if they were doing them a favor selling to them at inflated prices! EVERYTHING is in play now as a buyer… seller financing… closing cost… and of course price! When sellers start to realize they may have missed the boat on the top of the market we’ll see more movement… right now you’re seeing some cracks in the price points out there. Not as much as many markets in the world…
As for stock market investing as compared to Costa Rican real estate… stocks have a value that can disappear in a flash… AIG…ENRON…WORLDCOM… GM…. Chrysler… so when you “hold” a stock you’re holding a promise and someone else’s dream… with real estate… you have something “real” as the name implies… and if you’ve done your homework you’ll be rewarded! Besides if the world slides down the tubes… at least you have somewhere to hang your lion cloth and grow some vegetables!
Edited on Sep 14, 2009 15:35
It sure sounds as if ARCR is the way to go if they manage to keep the same deal! But why would the government and CAJA allow rich gringos that might be paying 10X the $40 participate in the ARCR program?
Are we even sure that this a fact? I spoke with two friends that currently have residency status (pension) and both told me that there is a cap (around $40/month) on what they pay to CAJA. Can someone provide a solid reference to this “new” tax in CR that may very well impact many current and future residents?
Scott is correct. But if you’re working for yourself…. you’re really not working for someone. A casual arrangement where you’re holding yoga classes at your house… or at a park might not be a problem!
A very sad story… and nothing new to any beautiful place! Folks run away thinking a new place will make their problems go away…. and when they don’t…it’s even worse.
Had it not been a gun… there were knives in the kitchen… pills in the medicine chest… rope in the closet… those so lost that they see no way out will find a way… and those left have to deal with the aftermath…
The death of this women left MANY victims… remember that!
A couple of points to think about…
Your disability income is not a pension, you might want to check with an attorney to see if the folks in CR will count this as a “pension”.
The other point I can think of right now is the requirement that you spend 4 months per year in CR to maintain your residency status. It need not be all at one time… but if you’re still working full-time in the US it’s going to be tough to meet that requirement. Unless of course you have a no-show federal job that they won’t miss you at!! LOL Say like a Senator or Congressman…. then you might get away with it!
Hey Enduro! As I like to say… “It is what it is!”…. but I’m also guessing that even after the new regulations are published there’s still going to be LOTS of questions that need clarification! It seems the new monetary requirements were the least of our worries… they went and slipped in that “must enroll in CAJA” which seemed like a nice idea and didn’t generate nearly the concerns that the increased dollar amount did. Now the question is what will CAJA cost, what will it be based on, and what kind of fair and equitable method will be used in determining the cost in each situation.
David had originally felt it was going to be based on 13% of declared income… he’s since updated that to say that CAJA somehow will (or had in his case previously) figure out a household budget based on his expenses to adjust that tax to be net of living expenses. I find both to be questionable and really rather unworkable. I’d like to see a simple straight forward system that benefits CAJA yet does not unreasonably tax folks applying for residency.
I just wish it would be a straight forward rate that was reasonable and easily explained. As I said perhaps a flat rate based on the type of residency. I guess we’ll see what the finally printing says… then wait for that to be clarified, challenged, amended, abused, and avoided! LOL
