The phenomenon is concentrated on the Pacific coast in Guanacaste with buyers mainly being foreigners and locals from the upper middle class.
The area of Tamarindo in Guanacaste's Gold Coast leads sales in 2014 in the real estate market in Costa Rica, helped by the increasing preference of investors for enclosed coastal districts, first class tourist infrastructure with beaches near to Liberia International Airport, and legal certainty for investment in properties.
The U.S. company American World Clinics reported that the project to be undertaken in Costa Rica includes a hospital, hotel and residences for retirees.
In partnership with a chain and a real estate developer in Costa Rica, the group American World Clinics (AWC) has announced that a resort will be developed in an area near the international airport and foresees that it will attract 10,000 foreign patients each year.
The interest rate that the Government of El Salvado pays for money from the Pension Funds is not more than 1.3%, while international investors are paid more than 7%.
Ricardo Soriano, Chairman of the Committee for the Defense of Workers Pension Fund of El Salvador (Comtradefop) reported that since the year 2006, the State has forced the Pension Fund Administrators (AFP) to invest the money belonging to Salvadoran workers in Pension Certificates, initially 30% and the 45% in 2012, money which has suffered a loss greater than $938 million each year.
Growth in personal income, attractive yields and greater awareness about saving are driving interest in investing for retirement.
The pension market has been growing by nearly 25% a year, with assets under management which today are worth around $300 million. This is despite the fact that of the over half a million people working in Panama only 61,631 (3.8%) are enrolled in some form of private pension fund, which demonstrates the high potential for growth this market has.
In Costa Rica the presidential candidate of the ruling party is proposing using part of the proceeds from the tax to fund pensions and improve control of tax evasion.
The candidate of the National Liberation Party (Partido Liberación Nacional), Johnny Araya, proposed in his government plan that of the 13% tax charged on each sale, 3% be assigned to the funds set up by pension providers to cover the pensions of those over 65 years old.
Nicaragua's microfinance companies will start a retirement plan program for micro businessmen and producers who do not have social security.
Laprensa.com.ni reports: "In order to meet the needs of the population without social security protection, from 2005 the Microfinance Network of Central America and the Caribbean (Redcamif) began to devise a plan that would guarantee pensions for microentrepreneurs and small growers who receive credit from institutions within the network: the Programmed Retirement Plan ".
Panama, Belize and Nicaragua are competing with Costa Rica and Mexico in trying to attract retirees from the U.S. and Canada.
All of these countries are offering residency packages and tax exemptions at rates similar to those granted by Costa Rica. For example, in Nicaragua there is a law which provides advantages for retirees on items ranging from cars to building materials. In the case of Panama, there is a program which has reduced the requirements to invest in property, businesses and other endeavors. "The message of this law is simple. "It is 'Come to Panama'" said lawyer Manoj Chatlani .
Even though it has a Promotion Act for the arrival of 'rentistas' and pensioners, Nicaragua has failed to attract such investment on a large scale.
In Costa Rica, for example, it is a business that is booming, with the main attraction being that it has the fourth most prestigious healthcare system in Latin America.
According to Leonardo Torres, president of the Nicaraguan Chamber of Small and Medium Tourism Businesses (Cantur), this is key for retirees, as they are mostly elderly, with chronic illnesses. And not being able to be treated in the United States, for example, because the cost of medical care is high, they look abroad for more accessible systems.
The Logistics Department of Tocumen SA is putting out to tenderprofessional services for the organization that will administer the company's unemployment fund.
The service to be provided by the entity selected to administer Tocumen International Airport, SA’s unemployment fund, must fall under the provisions governing the Abbreviated Tender price, contractual terms, obligations, rights, procedures contributions to fund unemployment, investment management and oversight mechanisms, clearly stipulated in Law No. 44 of August 14, 1995 and Executive Order No. 106 of December 26, 1995 (Published in the Official Gazette No.22, 944 of January 4 1996).
You may discover that your retirement money prevision is not sufficient...
In Internet there is a considerable number of calculation tools for estimating how long you will live.
After testing several of them, Carla Fried, in her Money Watch article, recommends the longevity calculator from Northwestern Mutual. She explains that this tools does not only inform us of how long we will live, but as we enter the necessary data about our lifestyle and personal conditions, it gives us friendly, humorous tips on how to increase the years we might live by improving our lifestyle.
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Hacienda Pinilla, the design of this project allows the residents to live comfortably amidst the abundant natural and cultural richness of the Costa Rican Pacific Coast in the Province of Guanacaste.
Operates in Costa Rica and Costa Rica
Phone: (506) 2240 1226
Hospitality and tourism division of Empresas Bern, a Panamanian company with 30 years of experience in real estate development, construction and sales.
Operates in Panama
Phone: (507-) 206-8843 - (507) 6647-6100