Your Rights As a Foreign Resident
Foreign residents are protected by the constitution, and have most of the rights of citizens. The record of the government historically has been excellent in honoring these rights.
Foreign residents do not have the right to:
• Vote or participate in political activities.
• Work for wages without a permit.
• Own land close to national borders.
Banking System in Costa Rica
There are 4 national (government owned) and about 23 private banks operating in Costa Rica, including Citibank from the USA and the Bank of Nova Scotia from Canada. All deposits in national banks are guaranteed without limit by the government of Costa Rica.
Banking is both safe and reliable, although the national banks can be bureaucratic. Checking, savings and investment services are available from all of them.
It is also possible to operate accounts in the USA or elsewhere through Costa Rican private banks. Banking in Costa Rica is protected by secrecy legislation. Foreigners may have bank accounts. There are no exchange controls or restrictions on removing funds from the country.
However, do your due diligence on the bank you choose. They are all reputable, but your access to your money may be limited when operating from out of the country. I have research quite a few of them and you are welcome to contact me for a more detailed opinion.
Crime Rate in Costa Rica
December 9, 2008 by admin
Filed under Facts about Costa Rica
Another consideration for those considering property investment in Costa Rica is the rate of crime. Overall, violent crime is low. In the San Jose area break-ins of unoccupied cars and buildings are common, and care is necessary. The police do not differ in their treatment of foreigners or citizens. Generally the police will not come to a break-in until the victim goes to their office and files a report. In more remote areas the crime rate is almost non-existent.
Environmental issues in Costa Rica
Costa Rica, in comparison with other third world countries, is very environmentally conscious.
Approximately 27% of the area of the country is in national park or protected reserve, the 50 meters above high tide is public property and cannot be privately owned or developed and the next 150 meters inland in approximately 85% of the country is owned by the local municipality and cannot be sold.
This land can be leased from the municipality for approved projects or residence. There are strict environmental guidelines in place for all developments and mining activity.
Logging is closely monitored. Most international ecological groups are represented in Costa Rica, so even where the government overlooks an infringement of the environmental laws, the legal mechanisms are in place for concerned organizations or individuals to halt development with cause.
Coastal construction is limited to low rise buildings. Attempts are being made to address pollution in rivers and streams, and vehicle emissions are now being tested to keep them within set standards.
There are many privately funded research facilities, as may be expected in a country with more bird and insect species than all of North America, over hundreds of types of hardwood trees, over 1000 varieties of orchids and so on.
Reliable Telecommunications in Costa Rica?
Costa Rica has a state owned Hydro/telephone Company. Phone installation can be slow, but once installed they function well.
Touch-tone international dialing for phone and fax is in place, as is a well-developed cellular system. Costs are competitive. Internet was introduced in 1995 and use is becoming widespread.
Approximately 90% of the country is currently covered with internet service.
The utilities have laid down a fiber optic line that runs north to south and feeds just about all of the country.
Most, if not all, is comparable to DSL speed. There are some of my clients that utilize a satellite internet service because they require a particular speed. For most, the DSL seems quite sufficient.
There are several Spanish newspapers one English daily, two English and one German language weekly, and various magazines. Foreign newspapers can be purchased readily. There are several Spanish language television stations, and different cable TV companies offering English language channels. Satellite TV dishes and Direct TV are readily available.