Thread: Panama vs. Costa Rica

I'm looking at coming down and visiting both countries and possibly moving down. I've seen some post about one vs. the other, but they were several years old. I'd like to know more current information as to why one is better than the other.

Here are some specifics I'm looking at:
1. Cost to become a resident
a. I don't have 150K to put into a bank.
b. I am selling some websites and will have about 130K after taxes.
c. My money wont be coming from a pension or social security, so what
options do I have?

2. Current cost of living
a. renting a two bedroom house
b. I don't need to be in the big city, not much of a "night life" person.
I'm more of a country boy that likes to hang out in local pubs.
c. I would like ocean view if possible, some suggested areas would
be appreciated.
d. Food

3. Taxes
a. Starting out I would like to just continue to design websites for
income. Most of my clients would be back here in the USA.

4. Internet
a. Due to designing websites, I will need a nice stable connection.
I would like something 3Mb and up.

5. Starting a business locally
a. I would eventually like to start a business locally.
Not sure what, but it would be something along the line of a
small bar or shop near the beach.
b. Can I work in my business, do I have to hire locals, if so how many etc.


I know I'm asking a lot, but I will greatly appreciate any input you have on any of my questions.

Thanks,

Richard

A quick note. You should assign ownership of your websites to a Panama or Costa Rica corporation, then sell them.

I spoke to some people who recently made the move to Panama. They chose Panama over Costa Rica because they said Panama is cheaper. They live in the interior, but you pointed out you are a country boy. Panama has cheap net at those speeds even in smaller rural cities, I'm not sure if Costa Rica does or not. Cant really help much on the other topics, hopefully others can.

Well unfortunately this block of sites I'm selling is all but done, the contract is already done and just the transfer is taking place. So not much I can do on this one, but I would like to build my next set from either panama or costa rica.

I've heard that costa rica is the place to go on vacation, while panama is the place to live and build a business.

You will have to watch where you go in Costa Rica, when I was there I was robbed, when I went to the Canadian Consulate there was thousands of Canadians in the "sign in" book with similar, or worse stories . I also know a fellow up here that married a Costa Rican woman she died, he took her back to bury her . Now when he goes to visit the grave site he has to empty his vehicle and pockets otherwise they will rob him at the cemetery. They have no Military so their petty crime is becoming more and more violent.
The country itself is stunningly gorgeous, with beautiful beaches and active volcanoes.
Stay away from Limon.

I have visited Costa Rica 4 times in a period of 8 years. My boyfriend and now husband and I had thought this is such a beautiful country, we should move there. We spent our time in San Jose, Alejuela, Areanal Volcano, La Fortuna and Puerto Viejo and Limon.
Each time we visited Costa Rica,our family grew...no they are not souvenirs from the trip. Our minds has also changed about moving to Costa Rica. Our issues are safety, education and medical access. Based on my personal research, we find that Panama is a better country to be living in. Our priorities are met more so in Panama than Costa Rica. I find that the Panamanians are friendlier than Costa Ricans. Panama City is safer than San Jose. although there are some areas in Panama city you are to avoid.
It will be our second time in the country in a few days. I can't wait.

My girlfriend and I, and another fellow we met in Honduras, wandered the streets in PC late at night and never had a problem.
During the day we did some Sunday shopping and a security guy (From a closed Furniture store )watched our car as we stuffed our trunk with stuff and didn't ask for a dime.
We also stopped for a pit stop ( I can't remember where on a road to Bocas) at a road side Church that had an outhouse and the local caretaker approached us and offered us fruit from his own trees, which we returned the gesture with cold beer.
Beautiful people.
Capt

Hello rwrogers11,

1.:
Here you can find an overview of the actual Visa Laws of Panama.
http://www.panamaproperties24.com/vi...ration_law.pdf
After you read it you have a good basic knowledge which kind of Visa could work for you.
Afterwards I would advice to find a good attorney to help you to get the right Visa.
To find a good Lawyer, I would take the information above and speak with maybe 3-4 attorneys about it, then you need to follow your feeling and what you heard. The best is you know already a trustful attorney through a good friend.
Also you need to be aware that the government likes to change laws fast so double check everything what you heard and read about laws (also this pdf above).

2.:
If you like Costa Rica and you want to life in Panama, think about the region of Chiriqui.
Chiriqui is beautiful, cheap (till today except Boquete), close to Costa Rica, less crime and you can choose your favorite climate.
You pay between $ 150 in the country side and $ 600 or more at the beach, for a good house to rent.

3.:
When you earn your money in foreign countries you don’t pay taxes in Panama!
I think that is the same reason that Edbowers advice you to put your Websites in a Panama S.A. and sell them afterwards ;-)

4.:
3 MB or more could be very difficult to find here in Chiriqui. In David they offer round about 2 MB.
In some areas in the country side they only offer 512 KB. But there’s coming a new company now and they want to offer also faster Internet, we will see.

5.:
Maybe this is an opportunity for you:
We are selling our beach bar, restaurant at Playa Las Lajas, in the province of Chiriqui for $ 69.000.
It has beachfront. For us it is also our home so we did not have to rent a house.


PS: How is your Spanish?


Feel welcome to contact us for furthermore details.


Kind regards
Dirk Zimmermann

Why are you selling it?

What is the annual sales in that location? How many employees do you have and what do you pay them?

Originally Posted by panamaproperties24

We are selling our beach bar, restaurant at Playa Las Lajas, in the province of Chiriqui for $ 69.000.
It has beachfront. For us it is also our home so we did not have to rent a house.

Hello Edbowers,

we dont have time enough for two businesses anymore!
In the rainy season we run it with only one or two, in the summer season we run it with up to 5 employees and they earn $ 1,28 up to $ 1,50 per hour.
The sales are very wavering in this region but we made in 2009 over 50.000 $ sales.
But this is far away from what is possible, this region has a huge tourism potential and it is just at the beginning.

We sale it with a Panama S.A., a Restaurant, Alcohol, Pub license also we have the license to run a discothek at weekends (till 4.00 am) and also the webpage is included.
We are already in the Travelguide "Bradt"
Panama - Bradt Travel Guides
and you can find the Bar in many Travel Online Webpages.

If you like you can google for "El mundo bar"

Kind regards
Dirk Zimmermann

Ok, reading between the lines a bit. It says "It has beachfront."

Normally I would read that as it is included in the price, i.e. you own the land. Otherwise I would use the word "located". Can you clarify on excatly what is included and what is not? If there is a lease, what are the payments, when is it due and so on.

This Bar has complete Beachfront and the property is rented from the Panamanian owner for $ 100,- a Month.
The property is consession land (like all businesses directly on the ocean) and most of it is inside the 22m Maritime Zone.
But if you like you can buy this consession from the owner, in our contracts are also the buying option included.
The rent till September 2011 is already paid.

If you have more questions please contact us directly or let us phone.

Kind regards
Dirk Zimmermann