Money Matters

The Central Bank of Costa Rica (BCCR) announced Thursday that it will stop minting five-colón coins (₡5) at the end of this year. 

An increase in transactions from businesses that exchange dollar investments into colones to pay taxes drove fluctuations in dollar prices in the past four months.

The change will not involve major adjustments for bank customers, except for the IBAN codes printed on checkbooks, deposit forms and other documents.

Those who fail to submit informative returns before the extended deadline are exposed to fines ranging from 10 to 100 base salaries, equivalent to ₡4.2-₡42 million ($7,475-74,750).

Costa Rican law regulates the effective collection of condominium maintenance fees, and the consequences of non-payment can be as severe as being evicted and losing your property.

While it’s nearly impossible to master the U.S. tax code, you don’t need to be a guru on the subject to demonstrate to your...

Several financial institutions have announced their terms and conditions for financing options they are offering this week at the Construction and Housing Expo at the Pedregal Events Center in Belén, Heredia, on housing projects ranging from $45,000 to more than $1 million dollars.

In the beginning of the 90s, a client of mine brought a suitcase of money to Costa Rica, who knows what bank he had robbed. It was pretty normal back in those days to buy real estate in cash. We had cash buyers all the time then, and people would bring stacks of dollar bills.

Looking to buy a house in Costa Rica? How many millions of dollars were you looking to spend? Or tens of millions? Here are the 10 most expensive homes for sale in this country.

Costa Rica is celebrated around the world for its “green,” pro-environment image. This week, the Green Building Council of Costa Rica is helping to launch a new certification system here that will help builders and homeowners manifest that reputation.

Moving to another country like Costa Rica is always a big step, especially if you don’t have all the information together to be able to follow the rules. In most countries the tax authority or city will send you a notice when it’s time to pay your taxes. That’s not the case in Costa Rica, and you will be fined for late payment. Needless to say there are a couple of taxes you should know about.

The global monitoring organization Financial Action Task Force (FATF) is currently conducting an evaluation of money laundering activities associated with drug trafficking in Costa Rica. They are particularly focused on the real estate industry.