Tag: Banking & Money

Jul 20 2019

In the Mailbag: New Taxes, VPNs, and MediSmart

We always get lots of responses and questions from readers, both newsletter subscribers and on Facebook. Hi Paul & Gloria, Much confusion seems to exist about the new taxes and reporting requirements. Also, the financial condition of the country given the increasing debt and a lower GNP are problematic. Yet many positive articles also exist, …

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Permanent link to this article: https://retireforlessincostarica.com/in-the-mailbag-new-taxes-vpns-and-medismart/

Jan 28 2019

Costa Rica Caja Health Insurance Payment Scale

We recently got a question from a reader which we couldn’t answer: “If a person has a large pension and his Caja payment is based on the higher percentage (say 13%), is there a cap on the maximum they might pay each month?” We contacted Attorney Roger Petersen, the author of The Legal Guide to …

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Permanent link to this article: https://retireforlessincostarica.com/costa-rica-caja-health-insurance-payment-scale/

Nov 25 2018

Costa Rica’s Current Economic  Situation

We have lived in Costa Rica for almost 10 years and we have seen the value of the colon both rise and fall against the U.S. dollar. When we first started investing in certificates of deposit in colones (the national currency of Costa Rica), the rate of exchange was about 500 colones to the dollar. …

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Permanent link to this article: https://retireforlessincostarica.com/costa-ricas-current-economic-situation/

Nov 22 2018

Some Reasons Why We Invested Our Savings in Coopenae

Updated November 22, 2018 Why invest in Coopenae? by Asdrúbal Zamora Corrales In Costa Rica there are several supervised credit unions, most of which are local and very small.  Each credit union has very different financial numbers. Coopenae is the Teachers Credit Union, the largest credit union and the most well-known. We provide internet services to …

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Permanent link to this article: https://retireforlessincostarica.com/invest-your-savings-in-coopenae/

Dec 26 2017

Change Your Name Before Moving To Costa Rica, by Rob Evans

One thing no one tells you before you move to Costa Rica is that your name is important: all your IDs and documents must have the same name (no abbreviations or nicknames), spelled the same way to make things easier. Costa Rica is a little bureaucratic and still uses paper documentation, so any anomaly can …

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Permanent link to this article: https://retireforlessincostarica.com/change-your-name-before-moving-to-costa-rica-by-rob-evans/

Aug 23 2017

Banking in Costa Rica: Our Experience, by Rob Evans

In January of 2014, we attended the monthly seminar offered by the Association of Residents of Costa Rica (ARCR). As members of ARCR, we learned that we qualified for ARCR assistance in opening an account at Banco Nacional (BN) for a fee of $20. After hearing about so many problems experienced by other expats, I …

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Permanent link to this article: https://retireforlessincostarica.com/banking-in-costa-rica-our-experience-by-rob-evans/

Apr 17 2015

Great News for Potential Investors in Costa Rican Certificates of Deposit!

Many of you have asked us for information about our investments in Certificates of Deposit (CD). Until now, the bad news has been that you must be a legal resident of Costa Rica in order to open a bank account of any kind in Costa Rica; in fact, you needed to have your actual cédula (residency card). …

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Permanent link to this article: https://retireforlessincostarica.com/great-news-for-potential-investors-in-costa-rican-certificates-of-deposit/

Jun 05 2014

Questions and Answers: Healthcare and Banking

If you are thinking about moving to Costa Rica (or anywhere unfamiliar, for that matter), you have lots of questions and are searching for the answers. We get a lot of questions here at Retire for Less in Costa Rica, and often, we get the same questions more than once. Here are this month’s questions: Greg …

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Permanent link to this article: https://retireforlessincostarica.com/questions-and-answers-healthcare-and-banking/

May 08 2014

Bank Interest Rates for Term Deposits in Costa Rica

costa rica cost of living

Published by the Costa Rica Star on March 10, 2014. Used with permission. UPDATE: please click here for more information about Coopenae in Costa Rica. Thank you to Asdrubal Zamora Corrales for the additional insights and information. Last week, the banking interest rate in Costa Rica dropped to its lowest level since July 2008. The “tasa basica …

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Permanent link to this article: https://retireforlessincostarica.com/bank-interest-rates-for-term-deposits-in-costa-rica/

May 08 2014

Questions and Answers: Investing in Certificates of Deposits and Avoiding Bank Fees

If you are thinking about moving to Costa Rica (or anywhere unfamiliar, for that matter), you have lots of questions and are searching for the answers. We get a lot of questions here at Retire for Less in Costa Rica, and often, we get the same questions more than once. Here are this month’s questions: Don …

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Permanent link to this article: https://retireforlessincostarica.com/questions-and-answers-investing-in-certificates-of-deposits-and-avoiding-bank-fees/