For a long time the United States of America was seen as a land of opportunity and freedom. It was a shining beacon of light in a world of unjust practices and inequality. Lately, it seems that may be a vision of the past. Today… the freedom and practices of the good ol’ US of A is changing again.
“In a stunning move that has civil libertarians stuttering with disbelief, the U.S. Senate has just passed a bill that effectively ends the Bill of Rights in America.” Says the News Voice. It appears that another bill has “slipped” in that erodes the safety and rights of the average American citizen. So how are American’s handling this? Well some sit by in disbelief, some fight it.
There is however another group of people who claim to “see the writing on the wall” and become “expats”. An expatriate is a person temporarily or permanently residing in a country and culture other than that of the person’s upbringing. Many expats who are leaving the USA are doing so because of the rapid erosion of their civil liberties and the impending financial crisis part two. A crisis that some say could be many times worse than the one we experienced a few years ago. So where are these expats going? One such place is Costa Rica, another is Panama where more favorable tax laws exist.
The main reasons that expats are emigrating to countries like Costa Rica are:
- The close proximity to the USA, which allows the ease of visiting friends and family.
- Economic stability and lack of unrest (Costa Rica abolished it’s army and diverted those funds to education and the environment).
- The climate (Atenas, Costa Rica rated the best climate in the world, by National Geographic)
- A highly educated work force and English as a second language is taught in schools. This makes for a great place to start businesses and investments.
- Costa Rica is the most visited country for tourism in Latin America.
- The environment. Costa Rica is known for it’s flora, fauna and abundant wildlife. It has some of the strictest environmental protection laws in the world. This creates a fantastic place for Eco-tourism as well as a beautiful and naturally abundant place to live year round.
- The People. Known as some of the Happiest people on earth by several studies.
With this migration of US citizen also goes their hard earned money. Expats are usually well informed about the economic instabilities that have arisen in their country and are searching for safe locals in which to invest.
Michael Simons, a successful realtor in Costa Rica says “99% of our clients paid cash” on the homes that they bought. That is a huge difference from the 5-20% deposits made on homes in the US. He also says, “I believe Costa Rica has one of the most stable real estate markets in the world.” This has drawn the attention of hundreds of thousands of Americans in their search for a safe haven for their investment dollars. With over 2 million people visiting Costa Rica a year for tourism, it appears that a sizeable amount of them are visiting on business as well as pleasure. As soon as you land in the San Jose Airport in Costa Rica it becomes very apparent that the Costa Rican real estate market is doing far better than it’s North American counterparts.
If you are one of those thinking about leaving the US or searching for a place to protect your investment dollars, contact us, we can help you.