If you have a sense of adventure and want to run a business with low costs, bigger profits, less taxation (with government encouragement!) and enjoy sun, sea, sand, surf and rainforest – then you should consider a small business in Costa Rica.
There are several ways to take advantage of this opportunity, with a service industry to the growing US population, or one that simply takes advantage of lower costs and taxation.
Let’s look at the opportunities open to you.
More For Your Money
With this small business opportunity you can reduce costs straight away by swapping your current real estate for real estate in Costa Rica, which costs up to 70% less than real state in the southern US states.
You can then cut the cost of utility bills and daily living expenses by 70 – 80%. ( a three bedroom house can be purchased for just $60,000 ) and consider this you can live comfortably on around $2,000 a month.
What type of business?
With a growing foreign population, obvious opportunities are open in service, leisure and entertainment and the population you will be servicing has cash to spend.
A Trained workforce
You can of course, with Costa Rica’s excellent communications and trained work force (Costa invests 6.5 percent of its GDP to an educational system, which includes over 50 universities. English is taught in the schools as a second language. ) run any type of business at dramatically reduced costs. Real estate is cheap and so tp are office rentals.
The opportunities in running a small business in Costa Rica are endless and you can deal in the country or export your services offshore.
Large companies such as Microsoft, Intel and Proctor and Gamble have re located to Costa Rica and other small businesses are moving in to service them and their employees.
As an incentive to investment, the Costa Rican government provides foreign companies with several tax incentives.
For service companies (i.e software development, computer services, customer care call centers and back office/shared service centers) the incentives include a 100 percent income tax exemption for the first 8 years of doing business in the country and an additional four years at a 50 percent rate.
The country is friendly in terms of labor regulations and there are no restrictions on foreign corporations owning property (and consider this property has risen on average by 300% in the last 10 years) so you can make money on real estate to increase your asset values.
A growing economy
Whenever you have a growing economy with an influx of new residents with a different culture there will be significant opportunities for profit.
Get in early, get established and you will find that you can get a lead over any competition.
Costa Rica is just three hours from the US and while many come to get more for their money, enjoy the beautiful scenery – they still want the comforts of home.
As the numbers increase ( 1,000,000 Americans are expected to be living in Costa Rica by 1,010 ) and you have an opportunity to service them.
From restaurants, to water sports to computer service companies – the same opportunities that exist back home are available in Costa Rica but you can get a head start:
Cheap real estate, office space, low costs, lower taxation and the chance to be in a less competive market place and last but not least – you can enjoy a lifestyle of sun, sand sea, volcanoes, rainforest, great entertainment and nightlife and much more.
For the adventurous small business owner, Costa Rica offers a fantastic opportunity and a different lifestyle but one that many will find rewarding, from both a personal and profit point of view.
Setting up your new business is easy
Foreign businesses are encouraged by the government, getting residency and getting a corporation off the ground is straightforward.
If you have a sense of adventure then you should consider the advantages a small business in Costa Rica has to offer.