US Marines have been deployed to Costa Rica to help combat the drug smuggling
Last week our email box was pretty much filled with, “Why the US Marines were invading Costa Rica?” Even at our Facebook account, a few commented on right-wing political BS, “It’s all about the oil, about building a military base in Costa Rica, and of keeping an eye on all the other dangerous countries around like Venezuela.”
However, I would like to comment on the one of the insanely ridiculous rumors and accusations received from Playas De Cocos where we quote from her email:
“Many of us believe that these ships have been evacuated from the Gulf because of the threat of an explosion from the oil well that has been spewing oil for over 80 days. Apparently the sea floor has raised up almost 30 feet and fissures are forming. Even though they have capped the well as of the early hours of the morning, no one seems to know yet if this cap will hold. They say that if the well explodes, this will cause a fire as large as a mountain and a tsunami that will wipe out many of the Gulf States.” Read more... (1137 words, 2 images, estimated 4:33 mins reading time)
Expats will have a surprise when their names will be published in El Financiero, the weekly business newspaper for not paying sales tax
Sometime next week Expats that have not paid sales tax (or other taxes) may find themselves in an embarrassing situation; this is when their names will be published in El Financiero, the weekly business newspaper put out by Grupo Nación.
Currently there are 1000s of Expats who own small businesses that vary from B & Bs, eco-tourism, gift shops, online sales, travel agents, real estate etc. Costa Rica is a haven for expats and the government allows foreigners to own business and work in the country, so long as they follow regulations and conduct business ethically. Usually a business has to be register with Caja Costarricense de Seguro Social (CCSS, Social Security Institution), with the National Insurance Institute (Instituto Nacional de Seguros) and record deeds of the incorporation charter (if your business is a SA, which is highly recommended) before the Mercantile Section of the Public Registry.
And of course pay sales tax, which many do or have not in this case. The current sales tax is around 13% the amount paid for goods and for some services. Professionals like lawyers, doctors, dentists and other independent professionals are exempt from sales tax. Read more... (554 words, 2 images, estimated 2:13 mins reading time)
Silver-hair Oswaldo Villalobos with one of his lawyers. Photo from A.M. Costa Rica/José Pablo Ramírez Vindas
We posted back in Aug, 2009 (Government Get Sued) and Dec, 2009 (Investors Suing Costa Rica Government) thats when the Canadian investors formed a group to sue the government of Costa Rica in an attempted to recoup money lost in the Villalobos Ponzi scheme they would probably lose … they did in arbitration this past week.
About 200 creditors had organized (out of the 6000 who had invested) and sought $200 million dollars in damages from Costa Rica’s government, claiming they did not exercise sufficient oversight to prevent Luis Enrique and Oswaldo Villalobos from taking over $1 billion in a 20 plus year unregulated load scheme. The scheme also involved drugs in Jaco and a business center in San Pedro. The IRS also got involved investigating Americans who had invested.
The Villalobos investment scam paid up to 3.5 percent a month on deposits of $10,000 or more that started in the late 1980s; some put in millions. After a landslide of complaints, finally, in late 1990s the judicial department started to investigate which lead to the conviction and sentencing of one of the brothers, Oswaldo who got 18 years. The other, Luis Enrique Villalobos Camacho, fled the country and still is a fugitive, convicted of fraud and illegal banking. His whereabouts is unknown. Read more... (475 words, 1 image, estimated 1:54 mins reading time)
Protesters will protest the reopening of the Crucitas Mine after the owners got a major victory over environmentalists.
The Costa Rican Supreme Court (Sala IV) ruled last Friday that a small Canadian mining company can proceed with its open-pit gold mine, striking down complaints from environmental groups that the project was destroying virgin forest.
“After reviewing the official studies we did not find that this mining project will negatively affect the environment. So the project will go ahead,” Vanlly Cantillo, a court spokeswoman said.
For years the Crucitas mine near the border of Nicaragua was closed until last weeks court ruling allowed it to open, a victory against environmentalists who had complained that the mine owner Infinito Gold Ltd (IG.V) would be breaking the law by cutting down trees in forests that are home to such wildlife as the endangered great green macaw and other precious birds.
Crucitas will be Costa Rica’s first major gold mine with a capacity to produce 85,000 ounces of gold annually. An U.S capital investment of $66 million was raised to start the mine with an indicated resource of 1.2 million ounces of gold, according to the company’s website. Obviously, Costa Rica Minister of Energy and Mining helped spearhead the permits, and will receive a few million in revenue. Read more... (388 words, 1 image, estimated 1:33 mins reading time)
Building a house in Costa Rica is not as hard as one thinks.
If you are considering building or investing in a home in Costa Rica then you will find these articles both useful and informative. When I first began my primer steps, I searched the internet and papers and bulletins for information to give me direction and was not able to find any unbiased or truth or experienced information.
So as an experienced contractor of 30 years in Canada, USA, and Costa Rica I have decided to inform all who wish to read the procedures, protocols, laws, in building (purchasing) a home in Costa Rica. This “category of construction” blog will walk you through the entire construction entity from conception to occupancy. I will provide you with photos, and please make comments and ask questions and I will try to answer them.
Like any important decisions that you may make, I encourage, appeal, advise, counsel and advocate you do your due diligence before investing in Costa Rica. Read more... (1066 words, 1 image, estimated 4:16 mins reading time)
