Developers of Jaco Condo Project sue bank for $120 million.
Yesterday morning, the Internet was flooded with the Press Release FROM the developer of a Jacó condo and hotel project suing its lenders, seeking arbitration on $120 million that has caused what it claims was a successful project on the verge of falling apart. No doubt the $120 million was an eye-opener of what is at stake.
The developer, Desarrollos Naturales de Costa Rica S.A., named Banco Centroamericano de Integracion Economica and Banco Improsa S.A., as the defendant. It was pretty clear the developer wanted to make everyone aware of whom the “Bad Guy” was and sought public support. Banks have always been the portrayed as the Snidely Whiplashes.’
Just about every Social Media website (Twitter mostly) had the story copied from every major website like Yahoo, PRWeb and CNBC. Type in Desarrollos Naturales de Costa Rica S.A in Google and the first three pages are filled with the story.
Without getting into the legal grit, lawsuits of this nature have two things in common, money and most important, time, which they are trying to buy. Obviously, it appears to be some type of investment tactic for the developer, in a wishful wish the Costa Rica economy turns around, which it is. Read more... (584 words, 2 images, estimated 2:20 mins reading time)
U.S. Expats may find themselves paying twice for Health Care
With the passing and the presidential signing of the U.S. Health Care Reform bill and assuming that it does become a law (13 states filed lawsuits in the US, stating it was unconstitutional) Costa Rica expats may have a serious problem. They may be forced to carry health insurance in both the U.S. and Costa Rica, I guess you can say a form of double taxation.
According to the health bill, ALL citizens of the U.S. will be forced to carry health insurance at a cost that is a percentage of your income, which is based on Social Security, IRA, retirement funds, interest, dividend income, business income etc etc. With that said, the IRS has been named as the official collector and enforcer, meaning they are the ones that are going to make sure you paid it. The IRS will have the power to lien your property, garnish your wages including your social security check, and do whatever means possible to collect and enforce these premiums as they have done for taxes. Read more... (510 words, 1 image, estimated 2:02 mins reading time)
The law prohibiting driving in downtown San Jose on certain days of the week, depending on the last digit of their license plate, will be enforced more.
It has been a hell of month with the new traffic laws that took place March 1st to local drivers and the Costa Rican newspapers have been filled with it. The changes were to lighten penalties and lower fines, but in reality due to the numerous loopholes, the Transit Police are applying their own version of the law that has amounted to higher fines in some cases and/or, as one ‘chatter in a forum’ reported, a increase in bribes when she did an illegal passing, got pulled over by the Transit Police and was told the fine was $450, or pay it now with a C-note. She paid it with a C-note.
The laws have been messed up since the beginning when lawmakers begin to submit and debate those that have amounted to over 200 changes since 2008.
This week a review committee found so many errors and constitutional violations in the text they do not expect any type of restructure or modifications until after Semana Santa, or Easter week, leaving the laws an open-range in interpretations and/or some quick bucks for a few as the “chatter” found out very quickly 
Read more... (799 words, 1 image, estimated 3:12 mins reading time)
There is no government regulations to put WARNING signs on Electric Fences.
When I was a kid, I went dove hunting with my dad and his friends, who also brought along their sons. As we were walking the fields, we came upon a fence with a sign, WARNING ELECTRIC FENCE.
One of the older sons, pointed to me, “Yeah, kid, go touch that fence” with the warning sign, ” it’s just a fake sign … see the bird sitting on the wire.” Being naive at the time, I touched it and literary got the shock of my life. I was told later (after a round of laughs) the reason birds don’t get shock, is because they are not grounded.
In Costa Rica, electrified fences are becoming the cheap source of security in many residential communities and private homes, however, unlike the U.S., there is no government regulations as to their use or requirements to post any signs or warnings.
In other words, no permits are required by any government agency to erect an electrified fence, anyone can put unregulated amount of high voltage and amperage passing through the metal wires. María Luisa Ávila, the Ministra de Salud (Health ministry), explains that she could not find any regulation governing electrified fences. Nor can officials of the Instituto Nacional de Seguros (INS) find any such regulation. Read more... (565 words, 2 images, estimated 2:16 mins reading time)
Wellness has become very popular in Costa Rica
During the last several years, a new generation of vacationers has been demanding more from hotels than ever before, and a new type of travel is rising in popularity.
This new group of travelers desires more than before from their vacation, and so the tourism sector is providing many options, such as hotels and resorts with Yoga and focus on health at their core.
Yoga, Wellness Centers and Medical Tourism are becoming a great alternative throughout tropical climates like Costa Rica and Hawaii.
Costa Rica’s popular tourist towns, such as Santa Teresa or Montezuma usually have many places to practice yoga, with more added yearly, and these yoga retreat centers compete for which can have the most calming and relaxing place to practice.
Boutique Hotels such as Anamaya in Montezuma, Latitude-10 in Santa Teresa, or La Cusinga Eco Lodge in Dominical, now usually have a yoga deck with an ocean view. This type of tropical space for practicing yoga is very photogenic, which helps a hotel attract new customers, since so many travelers primarily use photos from internet sites to pick their accommodations. Read more... (511 words, 1 image, estimated 2:03 mins reading time)
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