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Some of this has to do with expectations, assumptions and the general level of fear in a population. People take more risks when they have low levels of fear and expectations.To me, Costa Ricans seem to have much lower expectations and much, much lower levels of fear than Americans even though they have relatively less public protective measures in place,
Fewer police, fewer life guards, less safe roads, etc… Yet they thrive and are fearless compared to Americans. This says a lot about both of our cultures and for me is more relevant than drowning statistics.Miami beaches have plenty of lifeguards. The waters here are relatively gentle compared to CR pacific waters in CR. And we still have drownings, most of them kids. Safety is always primarily the responsibility of each adult who enters the water himslef or lets his child enter the water.
I watched small children swimming in a rapid Serapiqui river in Costa Rica one day. No parents around, swirling, rapid water and up stream were a few lazing 14 foot long crocs. I was simply amazed that parents would let small children play in that very dangerous environment and I said so to my friend. My Tico companion responded that “Ticos no tienen miedo.” Ticos are not fearful. Sometimes a child drowns. He also told me that the kids played in the fields along the shore where poisonous snakes roamed and sometimes fatalities happened there as well.I charged $95 for the clearance and $85 or the FDA interface work. I charged $40 per $10,000 invoice value for the required Customs bond.
I have been a fan of his wife’s blog “A Broad In Costa Rica” for a year now and once got into an email discussion with Hal over one of his blogs regarding economics. I always enjoy taking on Libertarians. My 36 year old son is a libertarian and nothing will rile one more than presenting a strong socialist point of view on the necessity of government involvement in education, health care and the economy.
I am impressed that expats like Hal are making contributions to the communities there.
I am still in Miami and anxiously looking forward to moving to my property down there but that may not be for a few years more. Otherwise, it would have been enjoyable to meet someone who has the energy and impetus to start up a business. If you do decide to go forward, I can give you specific information regards the customs clearance procedures.
Assuming that listings we see on this site are at a pretty fair and realistic level,on today’s home page is an article about a gated community lot half the size of mine and being listed at over two and a half times my original cost.
I am still licensed but have recently been focusing on another avenue of income generation (stock market). However, I still have access to much the info you would need as far as the US Customs documentation.
I no longer have the contact info for the few small Costa Rican businesses for whom I did some work. My impression is that perishable export/import business it is not easy money. As in all businesses, there is a risk to reward ratio to consider. Perishable imports are sometimes completely lost due to insects found by Agriculture inspections or other problems discovered by FDA.Depending on what merchandise you are working with, there are labeling regulations, quotas, smokehouse inspections, temperature controls and always basic customs and other agency regulations to consider.
Before you do anything, talk to someone who does this successfully. Get all your duckies in a row before committing capital.
My 12000 square meters has two 10 meter high waterfalls along a stream and a major river at the border. The view is great and very private and peaceful.I would never sell it. But none of the advertised properties have streams, rivers or waterfalls. One was not even gated. (mine is not either) It makes me wonder if I shouldn’t have bought an additional piece of land at that time.
It is so hard for Americans to estimate real estate values in CR. Will people buy land at the $18 per sq mtr I have seen advertised in the area? Who knows? But even if sellers are high balling the prices and end up selling at half the advertised price, that is still a substantial increase in value…two times what I paid a few years ago. When does the CR boom end? These things are always cyclical.
Edited on Jul 19, 2008 13:35
As a US Customs broker, I can tell you the very first thing you want to do is contact the FDA. There is a protocol for importing food and drink. Exporters and importers have to register with the FDA at which point FDA registration and PIN numbers are issued to either the importer or exporter. The import must also be reported to the FDA/US CUSTOMS prior to arrival at which point a prior notification number is issued for that particular shipment.
Broker fees will be in the range of $100 to $200 and if you do not have a Customs bond, one will have to be issued. The bond will be for three times the value of the goods and the charge is usually around $35 to $45 per $10,000 value of the bond; thus a $20,000 import will cost you about $240 for the single entry bond.
Edited on Jul 19, 2008 13:43
What you need for a bank account is a Costa Rican address. I don’t know if there is any legal complication if that address is not where you live or own or rent, but I used the address of a Tico friend, his suggestion, (who also knows the bank manager).
I will be eagerly looking forward to those articles!
I don’t doubt there will be real estate investment opportunities in Costa Rica for years to come but I have the impression that the easy money has already been made and the best deals for land purchases have come and gone till the next cycle. It would be interesting to know how the demographics might be changing right now with foreign real estate investors in Costa Rica.All of a sudden, I am reading more and more articles about American companies and individuals looking to relocate outside of the U.S., many to Costa Rica. New economic pressures on businesses in the States and now Europe to find cheaper labor and Boomer retirees to find cheaper places to live seems to be causing a crescendo of inquiries. Those who wanted to stay ahead of the crowd in this movement may have already missed the boat for the best real estate opportunities.
Edited on Jul 13, 2008 08:29
I am no expert on either Costa Rica or on business start ups but the first questions that come to mind is (besides the obvious question as to what experience you have in running a resort), have you spent any appreciable time on the Costa Rican coast and do you speak Spanish?
Your idea sounds as exciting and as fun as a month long vacation is Costa Rica. I am just curious as to the practicality of experience that currently backs up the dream.
