Investment property: Costa Rica’s tax exemption
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Costa Rica, officially the Republic of Costa Rica, is a country in Central America, with the border of Nicaragua to the north, Panama South Pacific Ocean to the west and south and the Caribbean Sea to the east.
Costa Rica has been consistently among the top performers in human development index of Latin American countries, ranked sixty-second in the world in 2010. In 2007, the government announced plans for Costa Rica to become carbon neutral by 2021. According to the New Economics Foundation, Costa Rica ranks first in the Happy Planet Index and is the most “green” the world.
According to the World Bank, Costa Rica’s gross domestic product is U.S. $11.122 (PPP in 2009), but this is a developing country, with lots of renovation property and repossessions, and still faces an inflation rate in fourth place in Latin America; with a lack of maintenance and new investments in infrastructure, the poverty rate is estimated between 5% and 8%, the unemployment rate at 7.8%, and the trade deficit at 5.2%.
The central government offers tax exemptions for those willing to invest in the country – great news for those looking for condo hotel investments. Several global high tech companies have already begun to develop in the region, including pharmaceutical company GlaxoSmithKline. In 2006, the center of Intel microprocessor was responsible for 20% of exports from Costa Rica and 4.9% of GDP.
Costa Rica was the point where the Mesoamerican and South American native cultures met. Costa Rica’s cuisine is a mixture of Amerindian, Spanish, African and many other food sources. Dishes like very traditional tamales and many others from corn are the most representative of its native inhabitants, and similar to other neighboring countries in Central America.
The Spanish brought many new ingredients in the country to other lands, especially spices and pets. And later in the 19th century, a taste of Africa lent his image to the influence of other Caribbean flavors mixed. Therefore, the cuisine of Costa Rica today is very diverse, with each new ethnic group that had recently become part of the population of the country influence in the kitchen