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Money Matters

Costa Rica to stop minting ₡5 coin

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

Dollar exchange rate maintains slight upward trend 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.

Banks in Costa Rica to change account numbering format

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

Tax information returns extension deadline ends next week

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).

Don’t want to pay your condo fees? Do you want to keep your condo?

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.

Can the condo fee make home buyers in Costa Rica feel sick?

If you are shopping around for a condo in Costa Rica, you might not realize that you will need to pay a condo fee as soon as you have closed on your purchase. The condo fee might double or even triple once the HOA takes over the administration of the condominium.

What’s new this year in US expat taxes

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...

Special home financing offered at Construction and Housing Expo this week

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.

Should you purchase your real estate in Costa Rica with stacks of cash?

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.

Costa Rica’s 10 most expensive homes for sale

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.
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Costa Rica Under Green Alert as Heavy Rains Raise Flood and Landslide Risk

Costa Rica has been placed under a nationwide green alert as authorities warn of heavier rains, saturated soils, and a growing risk of flooding...

Costa Rica’s Beach Access Fight Ends in Police Confrontation

Garabito’s long-running fight with Punta Leona over public access to Playa Blanca turned into a physical confrontation Thursday, when municipal crews removed an access...

That Shell on a Costa Rica Beach Could Cost You Thousands

It looks innocent enough. A beautiful spiral shell sitting on the sand, worn smooth by the waves, glinting in the afternoon light. The instinct...

Costa Rica Included in U.S. Forced Labor Tariff Proposal

The Trump administration fired its latest trade salvo this week, announcing proposed tariffs of up to 12.5% on imports from 60 economies following a...