Costa Rica

The ISO code of Costa Rica is CR according to the ISO 3166 standard. The local name of the country is the same as its English name. Costa Rica capital city is San José. People in Costa Rica speak the Spanish language. In the year 1821, Costa Rica emerged as a sovereign political entity. The largest city in Costa Rica is San José.

Costa Rica is located in the UTC -06:00 time zone, which is also called Central Standard Time or CST. The internet country code top-level domain (ccTLD) for Costa Rica is .cr. The International dialing code for Costa Rica is 506. People in Costa Rica drive on the right side of the road. Total land area of Costa Rica is 51,100 km² (approx. 19,730 mi²). Costa Rica is not a landlocked country. It means that is is bordered by at least one major body of water.

Costa Rica is located in North America. Costa Rica is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life.

Currently Costa Rica faces various issues, including deforestation and land use change, largely a result of the clearing of land for cattle ranching and agriculture, soil erosion, coastal marine pollution, fisheries protection, solid waste management, air pollution.

Doing business in Costa Rica

We offer various corporate services in Costa Rica jurisdiction. These services can serve both, people coming from Costa Rica and foreigners. If you plan on doing business in Costa Rica you might be interested in contacting us.

To find out about starting your business in Costa Rica click on company formation in Costa Rica.

To find out how to open a bank account in Costa Rica and moreover what type of account Confidus Solutions suggests to create, please click on bank account in Costa Rica.

Choose preferred service below or continue reading to find out more about Costa Rica.

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Demographics of Costa Rica

The total population of Costa Rica is 4,953,199 people. In Costa Rica, the population density is 91 people per square kilometer (237 per square mile). Because of this statistic, this country is considered to be sparsely populated. The ethnic diversity is almost uniform according to a fractionalization scale which for Costa Rica is 0.2368. Costa Rica has approximately 419572 foreign immigrants. The median age is approximately 30 years. In Costa Rica, 47.5 in every 100 people use internet. Costa Rica has a Human Development Index (HDI) of 0.763.

The majority religion of Costa Rica is Christianity, Costa Rica is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Click on a link to read more on demographics of Costa Rica.

Culture of Costa Rica

People in Costa Rica speak the Spanish language. According to data on inbound tourists in Costa Rica, 2,428,000 tourists arrive in the country each year. The first McDonalds in Costa Rica was opened on 28 December 1970, and it was located in San Jose, 4th street, between 1st and Central Avenue. One of the most popular national dishes of Costa Rica is gallo pinto. To read more click on culture of Costa Rica.

Geography of Costa Rica

Costa Rica is considered to be a large nation because of its total area. Its total land area is 51,100 km² (approx. 19,730 mi²). Costa Rica is located in North America. Its capital city is San José. Costa Rica has 2 neighbouring countries. Its neighbours include Nicaragua, and Panama. Total length of land borders of Costa Rica is 661 kilometers (~255 miles).

The highest point of Costa Rica is Cerro Chirripó, with its official height being 3820 m (12,533 ft). Including land mass and EEZ, the total area of Costa Rica is approximately 625,825 km² (~241,631 mi²). As for natural resources, Costa Rica is known for its hydropower.To read more click on geography of Costa Rica.

Economy of Costa Rica

The currency of the country is Costa Rican colon. The symbol used for this currency is ₡, and it is abbreviated as CRC. 8.3% of population in the country are unemployed. The total number of unemployed people in Costa Rica is 411,116. Each year, Costa Rica exports around $11.66 billion and imports roughly $17.56 billion. The Gini Index of the country is 50.3. Costa Rica has a Human Development Index (HDI) of 0.763.The Global Peace Index (GPI) for Costa Rica is 1.654. Costa Rica has a government debt of 40.2% of the country's Gross Domestic Product (GDP), as assessed in 2013. Costa Rica is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Major industries in the country are medical equipment, food processing, textiles and clothing, construction materials, fertilizer, plastic products.

The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Costa Rica is $71,234 billion. Each year, consumers spend around $19,826 million. The ratio of consumer spending to GDP in Costa Rica is 0%, and the ratio of consumer spending to the world consumer market is 0.0572. The corporate tax in Costa Rica is set at 30%. Personal income tax ranges from 0% to 25%, depending on your specific situation and income level. VAT in Costa Rica is 13%, and it is known as Sales Tax. In 2013, Costa Rica received 32.7 million USD in foreign aid.In 2014, the foreign aid amounted to 40.3 USD.To read more click on economy of Costa Rica.

Infrastructure of Costa Rica

Infrastructure quality in Costa Rica is rated to be at 2.43. It indicates a mediocre quality - roads, railroad, ports and other facilities are able to handle somewhat significant traffic, but not enough to ensure smooth transit at all times.

In Costa Rica, 99.5% of the population has access to electricity. There are 147,258 internet hosts in Costa Rica. Costa Rica has 161 airports nationwide.

The logistics performance index of Costa Rica is 2.7. It indicates a satisfactory performance - in general, traffic is handeled well, some flaws in certain areas are possible, but overall the logistics system performs reliably and is ready to handle predictable amounts of traffic.

Tracking possibilities for shipments are rated at 2.83. It indicates a satisfactory performance - the tracking systems provide all the basic information as well as additional data about shipments; most of the times it also has a weel established cooperation with foreign and international tracking systems, as well as usually provides information in multiple languages.

The number of road motor vehicles per 1000 inhabitants in Costa Rica is 20. To read more click on infrastructure of Costa Rica.

Politics of Costa Rica

Costa Rica, is a unitary presidential constitutional republic. With regard to political and civil freedoms, Costa Rica is 1. Citizens in Costa Rica experience total freedom. The majority of countries in which citizens enjoy expansive civil liberties and political freedoms are representative democracies, in which officials are directly elected by citizens to advocate for their needs and desires. Free countries are often bolstered by healthy economies and high-functioning governments. The head of the government is Carlos Alvarado Quesada.

According to the World Bank Group, the government effectiveness index of Costa Rica is 0.4. This indicates that the government of Costa Rica is mediocre. While some public and civil services are limited, in other cases they can be considered adequate or even effective. Potential investors should carefully evaluate the governmental situation in Costa Rica before considering any business maneuvers.In Costa Rica, the legislative power is vested in a Legislative Assembly. The Global Peace Index (GPI) for Costa Rica is 1.654. The strength of legal rights index for Costa Rica is 10. Overall, it is considered to be rather strong - bankruptcy and collateral laws are able to protect the rights of borrowers and lenders quite well; credit information is abundant and easily accessible. In 2013, Costa Rica received 32.7 million USD in foreign aid. In 2014, the foreign aid amounted to 40.3 USD. Costa Rica is a member of the United Nations (UN). On 2 November 1945, it joined the UN at it inception date as a full member state. Costa Rica is one of the original UN member states who founded the organization. Costa Rica is a member of the World Bank. To read more click on politics of Costa Rica.

Environment of Costa Rica

Costa Rica emits 1.7 metric tons per capita of CO₂. 20440 km² of Costa Rica's territory is covered in forests. and forest land comprises 40% of all the land in the country. The number of road motor vehicles per 1000 inhabitants in Costa Rica is 20. To read more click on environment of Costa Rica.

Company formation in Costa Rica

The development of telecommunications and economic globalization has made it possible for interested investors to form companies around the world. With proper research, financial investments, and legal backing, business ventures can safely be established in Costa Rica.

When establishing a company in Costa Rica, an interested investor must do due diligence with regard to legal processes, international regulations, and sufficient investment for success. It is critical to understand cultural, social, and political factors of Costa Rica that will affect the establishment and growth of one's business. Contact us or click on company formation in Costa Rica to read additional information when setting up a business.

Bank account opening in Costa Rica

With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Costa Rica. This opportunity for international accounts and investments offers several advantages based on economic regulations and tax structures. Interest rates and fees vary depending on your interests.

When considering opening a bank account in Costa Rica, one must enlist the help of international experts to guide them through the process. To find out more about our banking services click on bank account in Costa Rica or contact us.