Archive for October 13th, 2008
Monday, October 13th, 2008
The government of St Kitts and Nevis rescinded the appointment of its Honourary Consul in Costa Rica, Jonathan Curshen on September 24, following allegations of fraud and his incarceration in the United States.
The Ministry of Foreign Affairs, having received verbal communication from the authorities in Costa Rica on September 24, 2008 of this development in a letter of same date, told Curshen that “in light of the development and the surrounding allegations, please be informed that you are no longer deemed suitable to represent the interest of the Federation.” (more…)
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Monday, October 13th, 2008
The banking system in Costa Rica is composed of three state-owned banks (Banco Nacional, Banco de Costa Rica and Banco Popular), and 18 private commercial banks, one of which is Scotiabank de Costa Rica. In recent months, Scotiabank introduced an innovative mortgage solution called ScotiaMix.
ScotiaMix caters to construction companies, real estate developers, or people simply buying a lot or property. ScotiaMix is a two-currency mortgage solution, combining both US-dollars and Costa Rica-colones.
In a single loan, customers can decide what percentage of the mortgage will be in colones and in dollars.This loan option decreases the risk for customers who earn their income in colones. The benefits of ScotiaMix include financial advisors readily available to help you determine which credit combination is best and long-term financing.
ScotiaMix is unique in Costa Rican mortgage solutions and combines the best of both financing options in the local currency and in US dollars.
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Monday, October 13th, 2008
One seldom hears the subject of Nicaraguan immigrants brought up these days in Costa Rica. As with the U.S. presidential campaign with illegal Mexican immigrants, such concerns have been swept away into a corner by issues such as high petroleum and food prices and other economic issues. That situation has been helped by, in Costa Rica’s case, the low unemployment rate (4.6% earlier this year) that ease’s worry that low salaried Nicaraguans will take jobs away from Ticos. (more…)
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Monday, October 13th, 2008
Now is a good time to negotiate a property purchase in Costa Rica, in light of the slow market, according to Gary Sheriff of property agency C.R.UK. Global.
Fueled by rising tourism and retirees from North America, Costa Rica’s property market has boomed over the past decade, with prices recording up to 300% growth over the past decade across some parts of the country.
However, with a number of new-build residential developments nearing completion, coinciding with a significant fall in demand, in light of the economic woes experienced in nearby America, the country’s property market has come to a shuddering halt. (more…)
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Monday, October 13th, 2008
Presently, Costa Rica surpassed three times the world average in tourism growth, according to a June index released by the World Tourism Organization (WTO)
The index’ s data says the largest growth in tourism was in regions like the Middle East, Central and South America. Meanwhile, China, Japan, the United States, Costa Rica, Chile and Peru, stood out for showing double digit growth.
The WTO index says that international activity saw growth of 5% in the first four months of the year and one additional percentage point more than forecasted at the beginning of 2008.
According to the WTO, behavior of the summer season that just started in the Northern hemisphere will be key to end-of-the-year results.
The Tourism Minister, Carlos Ricardo Benavides, said that he is pleased that Costa Rica has held pace within the most dynamic growing group of countries with respect to the arrival of tourists.
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