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WHY COSTA RICA?

Business Environment: Many internationally recognized companies have been operating in Costa Rica since 1980. A great number of factors have contributed so that Costa Rica can be an attractive and productive destination for their offshore operations.

English Skills:

Education is compulsory up to 9th grade and places a strong emphasis on computer skills and English skills since the early grades. To this respect, an official nationwide survey showed that more than 258,000 Costa Ricans could speak English well.

Educational Institutions:

Two key factors have become critical to the country's educational strategy: science and technology. Costa Rica's previous and current administrations believe that technical training, along with innovation and technology transfer, are crucial factors to achieve higher levels of productivity and a better competitiveness level in the global economy. The National Learning Institute (INA) offers free technical training in a wide variety of fields, and is able to provide tailor-made programs to meet specific manufacturing and service investors' needs. Several other technical schools and universities prepare professionals with the highest international standards. Even Harvard University has had an extension in Costa Rica since 1964 through INCAE, to prepare middle and upper level managers. The America Economy Magazine considered INCAE as the best Latin American business school during 2003 and 2004.

Schools are allowed sufficient flexibility to pursue curriculums that fulfill the needs of a changing society, but are also monitored to ensure excellence and quality. As a result of this ample array of options, the country enjoys a large pool of engineers, business officers and other professionals. As it was cited in Latin Trade (August 1998), Intel's Corporate Vice President Mike Splinter said the company chose Costa Rica over Brazil, Chile and Mexico because of its "excellent educational system."

Productivity and wages:

Workers are considered very trainable and productive. Costa Rica's main comparative advantage for attracting high-tech investments is to provide sufficient qualified professional and technical personnel at competitive costs. In lower technology industries, although Costa Rica's wage rates are higher than many country competitors abroad, higher labor productivity and modern manufacturing techniques can often compensate for labor costs.

This highly educated, versatile and productive workforce is accessible at competitive rates that currently range from $1.8 to $4.11 (per-hour, fully loaded).

Labor Regulations:

Labor unions only have a significant role for public sector workers. The main form of labor organization in private companies is the "Solidarity Association" that employers support through a credit union and other assistance services. Investors seem very satisfied with the operation of solidarity associations, and frequently mentioned that they tend to work with the company, not against it. The associations have not been confrontational in nature or used for negotiating wages. Some companies have a separate permanent council of employees, serving as a mechanism to bring up complaints and problems for solution.

Higher Education:

The Costa Rican workforce is considered perhaps the most important attraction for foreign investors, as the population is highly literate and well educated. The government has long placed a high priority in investing in public education, which includes the university system as well as the technical and vocational training scheme. The abolishment of the armed forces in 1949 freed resources that have mostly been invested in free education and health services for the population, while a generous education expenditure ratio of more than 5% over GDP is currently maintained by law. As an reflect of these efforts, Costa Rica now has one of the highest Human Development Indexes among developing nations (0.834), and one of the highest literacy rates of the Americas (94.9%); in addition, the expected number of years of schooling has been calculated at 10, according to World Bank's World Development Indicators 2004. A nation that long ago realized the importance of education and which currently allocates more than 6% of its GDP to educational programs is indeed the best guarantee for a successful business environment.

Strategic location:

Costa Rica has an excellent location at the center of the Americas:

The time zone of Costa Rica is the same as the central time of the USA. Also, a direct flight from San Jose takes 2:30 hours to arrive in Miami. There are 7 customs of interest for trading purposes. These are located at the borders with Panama and Nicaragua, at the main Atlantic & Pacific ports, at the Juan Santamaria International Airport and other strategic points in the country. The fact that Costa Rica has major ports in both coasts (Pacific and Atlantic) makes it attractive to 236 major carriers to operate in the country, 60% of them from Moin (in the Atlantic at Limon) and the rest from Caldera Port (Pacific shore). It takes 3 hours of effective transit time through customs to go to San Jose from Moin, and 90 minutes from the Caldera Port. Tariff rates are competitive with respect to the USA, Europe and Asia. The main airport (Juan Santamaria) at a distance of 15 km from San Jose. The second major airport is the Daniel Oduber, located at Liberia, Guanacaste, in the northern part of the country. Both airports have been approved Class 1 by the Federal Aviation Administration of the USA.

Stability Costa Rica - a country of stability:

The economic, political and social stability of Costa Rica is one characteristic that has distinguished it through its entire contemporary history and one of the most important strength that have enabled it to reach great success in alluring foreign investors. The Costa Rican government is ruled by a series of constitutional controls and balances. The executive responsibilities rest on the President, who is at the center of power, and is supported by two Vice-presidents and his cabinet. The President and Vice-presidents, plus 57 Congressmen, which conform the Legislative Assembly, are directly elected every 4 years. In addition, the country has a strong legal system that manages the 'judicial power', which ensures law compliance and covers nationals, as well as foreigners, within the country's territory. The last World Bank survey for Global Governance Indicators puts Costa Rica in the first place within Latin America for political stability and absence of violence. This measure includes several indicators, among which it includes a measure for the perception of the likelihood that the government in power will be de-stabilized or overthrown by unconstitutional and/or violent means, including domestic violence and terrorism. Costa Rica has a long tradition and stable democracy, which is recognized worldwide and has over 115 years of history. Such vocation of respect for political and peace processes have been enriched by the abolition of the military in 1949, and acknowledged internationally in 1987 when the then President of the Republic, Oscar Arias Sanchez, was awarded the Nobel Peace Prize.

Market access During the two last decades, Costa Rica`s trade policy has shifted from being one with a high level of protection into one that promotes openness and active trade negotiations internationally.

Costa Rica: Current Trade Agreements:

DOMINICAN REPUBLIC: Free Trade Agreement between Central America and Dominican Republic, Law No. 7882 on June 9th 1999, published in La Gaceta No. 132 on July 8th 1999, in effect as of March 7th, 2002.

CHILE: Free Trade Agreement between Central America and Chile, Law No. 8055 on January 4th 2001, published in La Gaceta No. 42 on February 28th 2001, in effect as of February 15th 2002.

CANADA: Agreement between the Government of the Republic of Costa Rica and the Government of Canada, signed in Ottawa on April 23rd 2001.

MEXICO: Free Trade Agreement between the Government of the Republic of Costa Rica and the Government of the United Mexican States, Law No.7474 on December 19th 1994, published in La Gaceta No. 244 on December 23rd 1994, in effect as of January 1st 1995.

CARICOM: Free Trade Agreement between the Republic of Costa Rica and the Caribbean States community.

PANAMA: Free Trade Agreement and Preferential Exchange between the Republics of Costa Rica and Panama, Law No. 5252 on July 18th 1973, published in La Gaceta No. 142, July 31st 1973. Central America.

Costa Rica: Preferential Access To Markets United States Caribbean Basin Economic Recovery Act, C.B.E.R.A. Caribbean Basin Initiative, C.B.I. Europe European Union Generalized Preferential Tariff System Asia

Costa Rica: Trade Agreements Currently In Progress.

Central American Free Trade Agreement with the USA (CAFTA) Signed on May 28th of 2004.

By 1985, as part of the trade concessions granted by the US government to several countries in Latin America coming out of debt crisis, the Caribbean Basin Initiative, a unilateral mechanism through which Costa Rica exports duty-free products to the US to this date, was created. Later, in 1990 Costa Rica joined the General Agreement on Tariffs and Trade, and since then actively participates in multilateral negotiations concerning the elimination of tariffs, and at the same time, in numerous bilateral trade agreements with its most important trade partners.In 1994, the first Free Trade Agreement as such was negotiated and ratified with Mexico, and since then, Costa Rica started an aggressive venture in international markets with relevant governmental support through COMEX (Foreign Trade Ministry) and its trade promotion agency, PROCOMER.

Incentives Types of Incentive Regimes Since the 90's, Costa Rica has actively sought promoting exports of its manufactured goods through the creation of special incentive regimes. To this respect, the establishment of the free trade zone regime led to the creation of the first free trade zones in 1982, in which the companies established were mainly of the textile industry.

The current regimes are managed by PROCOMER and are an important compliment to other key site selection factors; existing small, medium and large firms that use the regimes now exceed 400 small, the majority of which are manufacturing operations located within the free trade zones. Nevertheless, there are a large number of international service operations enabled by info-communication technologies, such as data entry and contact centers, as well as business processing outsourcing units and engineering and design processing centers. In addition, the tourism sector has a specific regime which is granted through the Tourism Interest Declaratory. The Active Finishing regime introducing raw materials, inputs and capital goods into national customs territory in order to be subsequently transformed with the suspension of all kinds of taxes.

To enjoy the benefits of this regime, it is not necessary to operate within a specific industrial park. Free Trade Zones as well as Active Finishing Zones are also designed to facilitate the development of relations with suppliers established in Costa Rica through subcontracting. Economic Impact The free trade zones regime is currently the main export generation regime, amounting to 52% of the total export value of Costa Rica. Also, almost 90% of the direct foreign investment companies that invest in Costa Rica invest through this regime, while only 0.2% establish under the Active Finishing regime, which generated $373 million in exports in 2004.

Infrastructure:

Electric Energy:

Costa Rica is internationally known for its high degree of electrification (97.04%, 2005) and generation from renewable sources (which currently stands at 97.5%), which helps protect the environment and reduces in turn the country's dependence on oil for energy production. The Costa Rican Electricity Institute, ICE, is the main responsible public entity in charge of generation and transmission activities, while distribution is allocated among the ICE and eight other public and private companies located in different regions. The ICE accounts for 38% of total energy distribution in Alajuela and other remote regions, while CNFL concentrates its operations in San Jose and has the biggest share of the national distribution grid (43.5%). The Cartago and Heredia regions are served mainly by JASEC and ESPH, which cover 6% and 5% of the total distribution network, respectively, while the remaining 4% corresponds to distributor co-ops that operate in rural zones.

Telecommunications:

Telecommunication services in Costa Rica have significantly developed during the last few years, a fact that has allowed multinational and local companies to enjoy a varied and advanced menu of telecommunication services, including dedicated services and broadband Internet. Telecommunications services in Costa Rica are provided on a nationwide basis by two companies: ICETEL (a Telecommunications division of the Costa Rican Institute of Electricity) and Radiográfica Costarricense, S.A. (RACSA). Provided services (ICE & RACSA) Telecommunications facts Rates.

Industrial and Commercial Use Water:

Service Manufacturing and service companies located in Costa Rica can count on several means for getting their water supply. Acueductos y Alcantarillados (a state company), local authorities, municipalities and other entities are responsible for supplying water according to the location. ESPH, a private utility company, handles water and energy distribution for the province of Heredia, while Cartago and Alajuela have their own municipal water services. Besides, private companies and individuals on a personal basis can request underground water extraction permits from SENARA (a supervisory governmental agency) in order to drill private wells.

Quality of life:

A relaxing place to stay Costa Rica's weather is enjoyable year round. Average temperature range in San Jose goes from 14 to 24 degrees Centigrade (57 to 75 Fahrenheit) in December, and 17 to 27 degrees (63 to 81 Fahrenheit) in May. The Caribbean coast averages 21°C (70°F) at night, and over 30°C (86°F) during the day. The Pacific coast is hotter than the Caribbean, but is less humid. With over 360 hotels, located throughout the country, Costa Rica provides a wide spectrum of possibilities to rest and relax. The combination of rest places and adventure activities (golf, fishing, surfing, rafting, canopy, etc) make this country an ideal place to stay.

Easy Access:

With over 1.72 million visitors in 2006, Costa Rica has been an excellent destination choice for the international tourist. Tourist activities for 2006 generated over 1.62 billion dollars. An increasing offer of international flights has taken Daniel Oduber Airport (Liberia) has a new entry port. It's close to the Pacific coast, as well as to main tourism facilities in the country. New resources are being destined to the improvement of the main airport infrastructure (Juan Santamaria), as well as other secondary airports.

Costa Rica: country of natural beauty:

Costa Rica occupies first place in ecological tourism in the world. Costa Rica represents 0.03% of the planet's surface and contains 6% of the world's biodiversity. 25% of the country's territory is protected as national parks or biological reservations. 34 national parks are distributed throughout the country. Over 1000 varieties of orchids, and 845 varieties of birds can be found in the country. Fauna includes: jaguars, pumas, agouties, green turtles, three species of monkeys, crocodiles and sloths.

Health indicators of a developed country:

Social security in Costa Rica is a subject of great importance in the history of the country. After the abolishing the army in 1949, resources that were used for the military were redirected towards education and health. This has allowed the country to boast the best health indicators of all Latin America, and comparable only to those of developed countries. Besides the National Public Health System, the country has a strong private health system, with hospitals and clinics of great prestige and reputation. Costa Rica registered an infant death rate, for 2006, of 9.45 deaths for every 1000 born live in Costa Rica, very similar to infant mortality rates present in developed countries. According to the World Bank, Costa Rica has the highest life expectancy at birth in all Latin America: 78.1. This figure can be compared to those of first world countries, such as the Netherlands, Belgium and Finland, among others. 95% of the Costa Rican population has adequate water access (at least 20 liters per person per day) from an improved source (home connection, public, well or connection or protected sources, or collected rain water). Also, 93% of all Costa Rican have access to improved sanitary facilities.

According to the United Nations, between 95 and 100 percent of Costa Rican have possibilities of obtaining basic medication at accessible prices .

Real Estate:

There are little real estate restrictions for foreigners; the Law ensures the same rights for foreigners as for citizens, which means that there are no special conditions for the acquisition of properties in the country. According to the US Department of State, more than 20,000 US expatriates reside in Costa Rica, many of them as retirees. To perform a real estate transaction in Costa Rica, the following steps are basically required: - Identification document - Cadastre Property Print - Public registry - Powers

You may also want to consider buying a timeshare in Costa Rica instead of owning. Some of the benefits include sharing the cost of ownership with others. Additionally, if you want to visit different parts of Costa Rica or Central America, you can purchase through an exchange company such as Interval International and enjoy the flexibility of staying in San Jose one year and Puntarenas the next.

Cost of Living:

According with The Economist Intelligence Unit Costa Rica has one of the best combinations between high quality of life and cost of living. According to their surveys on 2006 the Hardship Rating 2006 and the World Cost of Living 2004, San José, Costa Rica is ranked as the third city in Latin America with the best quality of life and is one of the most inexpensive countries. The Economist Intelligence Unit's HARDSHIP RATING, part of the Worldwide Cost of Living survey, assesses conditions for expatriates in 130 cities around the world by looking at 12 factors grouped in three categories: health and safety; culture and environment; and infrastructure. The Worldwide Cost of Living Survey compares the cost of a representative basket of goods and services in dollar terms from over 130 cities worldwide to provide guidance for the calculation of executive allowances. Using New York as a base index of 100, Costa Rica's cost of living is 54, ranking 117th of 133 countries, which the cost of buying the same goods basket in Costa Rica is almost the half the cost it has in New York. Only 3 other Latin-American cities are cheaper than San Jose.

Private Education:

Costa Rica has a wide array of private institutions with US schedules (August until end of June). These institutions provide the possibility so that a student can dominate at least two languages, including English, German, French, as well as Spanish. Almost all these institutions allow students to choose a diploma from the International Bachelor Organization (Geneva, Switzerland) and the Southern Association of Colleges and Schools (SACS - Atlanta, Georgia, USA) and the Costa Rican Public Education Ministry (MEP).

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