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jimvignola

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About jimvignola

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  1. Paul, can you clarify your fourth paragraph on once you become a permanent resident if you need to continue proving income at renewal .... I figured with everything, you eventually need to renew like a drivers license even if permanents ... right?? "You may find that you will continue to have to prove that you have an income though each time that you go to your residency renewal appointment at BCR or at La Migra"
  2. We traveled to CR in Februray to submit our papers and get fingerprinted and returned to the US to wait the year or so it could take at which time we will wrap things up and head down.
  3. Business, Nations, People, Organization cycle up and down. They lose vision, purpose, direction, etc. and need to re-think, re-evaluate, re-prioritize, etc. That is the good thing about new leadership is that they can sweep away some of the real and imaginary limits that held people back. I think the most interesting thing I find about CR is how to structure taxes. They rely heavily on import duties for revenue and seem to have inefficient income and property tax collection systems. I am guessing import duties is the least controversial (hits mostly luxury goods) and most efficient mean of collecting revenue compared to the huge IRS / local property tax / sales tax mechanisms the US uses. I have great faith in CR and Ticos. They have a long history of being progressive (army, education, literacy, green energy, tourist, etc.) and I am sure they will find a way to turn around. But I will say the competition is heating up from other countries in LA and Asia who have studied CR and want a piece of the action.
  4. jimvignola

    US dollars or Colons?

    When I travel to a foreign country I typically use an internet exchange company to get two hundred dollars of local currency since that allows me a little while to function until I need to find a bank. They usually have great rates and mail the currency to your home.
  5. jimvignola

    arcr seminars

    My wife and I attended in February and I think there were 20 to 30 folks there. Half were from the Chris ??? Tours. I was not expecting to hear anything new since I have been researching for two years but they did an amazing job of covering everything. Plus we met a few new friends to start our journey with. Well worth the money
  6. jimvignola

    long term car rental

    I noticed on the Lake Arenal Facebook page someone was renting out there car for three months while they went back to the US fyi
  7. Approaching the fortnight, the big transnational companies generally change dollars to pay taxes and salaries, and that affects the market, lowering the price of the currency. Doesn't that mean that say Intel brought dollars to CR and gets more colones than usual and thus can either claim a higher profit sending excess home or hire more workers or buy another building, etc ...so good for CR??
  8. Poor translation ... Central Bank: "Dollar fall due to economic factors" Rodrigo Bolaños said have not yet defined when used new model of intervention in the market, announced on Wednesday The fall in the exchange rate of the dollar of almost 30 ¢, which occurred this morning, due to seasonal factors related to the expiration of tax payments, said this morning the Central Bank President Rodrigo Bolaños. Approaching the fortnight, the big transnational companies generally change dollars to pay taxes and salaries, and that affects the market, lowering the price of the currency. The Bank is the expectation that this reversal in trend also generate a reversal in behavior that has been observed since principo year, reducing the rate of increase in the exchange rate. Since mid-January, the currency gained 60 ¢. However, Bolaños is clear that the dollar should not come back to ¢ 500, where he parked the last year. "Any devaluation has to stay because it responds to longer-term factors such as the withdrawal of monetary stimulus in the United States," said the chief. Bolaños convened press conference this morning to explain the new model of intervention in the exchange market, which aims to correct deviations in the long-term trends toward the price of the currency. The recent behavior in the foreign exchange market (increase) is presented, according to Bolaños, by an expectation of economic agents that maintained the exchange rate of increase, motivating an inertial behavior of macro price. The sharp increase in the price of the currency made ​​the Central created this new model called "interday" to adjust the exchange rate to the long-term trend when detached. So far, the bank has been intervening "intraday" when the price had "violent" and variations in recent weeks, has sold more than $ 300 million to stabilize the price. Bolaños said they are not planning to use the new system in the current situation, but it is a necessary tool in order to step the system of managed floating. These interventions "INTER" will be approved by events, not daily, but will have a larger budget. However, both the criteria used by the Bank to approve the budget as are confidential, said the chief. TAGS: Exchange , Central Bank , Dollar ,
  9. I noticed that coffee futures have increased quite a bit recently. Related? http://advisorperspectives.com/dshort/charts/index.html?guest/2014/CK-140313-Fig-1.jpg
  10. What was interesting last week while in CR was what I paid where ... I got great deals at the dentist (10% off $36 cleaning priced in colones), on taxis and at lunch and dinner at local restaurants (paid in colones gave me a 10% better deal at 550 vs 500) but I had to pay in dollars at the B&B and in dollars for the exit tax at the airport. I guess the secret at a time like now is to negotiate all your expenses in colones.
  11. At the ARCR seminar they mentioned import duties make up 50% of Costa Rica's (tax?) revenue which explain why it is such a big part of the expat with stuff to bring life. I was wondering what effect exchange rates had on that equation. Are the import duties valuated and paid in dollars? If in dollars, wouldn't say a $20,000 car imported from the US generate more colones tax revenue at 600 than 500?
  12. jimvignola

    BANK ACCOUNTS

    Came to Costa Rica last week. Went to ARCR office with my passport, police report, introduction letter from my credit union, and $100. I think BN would have liked to seen a recent bank statement but they passed over that when I said I did not have one. Karin walked us next door and we opened a dollar and a colones accounts in about an hour. Lots of manual processes and paperwork in triplicate. We have started the residency process (not through ARCR ) and have no numbers so the bank left that line blank. We had to come by the next day to pick up our debit cards and pins. I did not have the energy to get the token generator for online access so I will need to pull out some money ever three months to keep the accounts active. I opened both a dollar and colones accounts since that is what everyone seems to do but I don't know why. In the ARCR seminar, Ryan said we would just need to resubmit my pension letter again at renewal. One fine point. They do not have joint accounts. I am primary and my wife is beneficiary which means if I die they lock down the accounts until things get sorted out which can be trouble for a grieving widow. At the ARCR seminar they told us if the husband dies the wife should immediately go to the bank and get money before the bank finds out. Of course, you could open duplicate accounts in your wife's name. I think I will eventually use the Credit Union in San Ramon as my only in country bank because they seem friendly, less crowded and want to have a personal relationship. It did not seem they would let me open an account until I had my residency numbers though which is fine. I think I will keep all my money in the US and I will deposit a personal check every month into the credit union to fund our expenses.
  13. You have only made a "mistake" if you have not done your homework and not bought what you need and want, If the purchase reduces your happiness by filling it with worry about crime or the caja cost or if losing the house due to government confiscation, legal scam, etc which can happen any where but are more likely overseas would ruin you then you made a mistake. If the purchaced is a second house that you love and it fills you with happiness but would not ruin you to lose it or have it lose value than you are ok in my mind. To me it is people who run too close to the edge where everything they have in life is tied up in a house and losing the house or having it go down in value will ruin their live have bitten off more than they should have and made a mistake.
  14. jimvignola

    Quitting the CAJA

    Btw, I though ACA was targeting you not to spend more than 9% of your income which seems what the Caja has arrived at. .... Everyone knows that is silly since ones income is not related to ones Heath liability but it is what politician could sell to sick people with low incomes. I am guessing if health insurance is the focus of your life (not mine) a place like Panama might work out better since you could buy what you wanted and find good facilities locally when you wanted to spend big bucks. I think the problem is the insurance is really local to hospital and doctors in your town which crimps traveling around the country.
  15. jimvignola

    Quitting the CAJA

    My thought is that I see a lot of unhappy people on the forum who wish they were some where else because of crime, CAJA payments, etc. and as long as they are held hostage by property and investment than they will remain miserable. I guess I am at a point in my life that it is up to Costa Rica to make me happy, not me to make Costa Rica happy. They need me more than I need them. If I get in a position I can not walk way from the table than the CR government has the upper hand and can increase taxes to what ever level they want.. It is all a business deal and if you are not willing tot walk away or have committed too much resource and can not get out than you need to take what ever the government dishes out in my mind. Plus, most Expats can not vote so they don't have a political voice either. Their only protest is to leave like companies do when they are mistreated. I think one can still get involved and live a wonderful life in CR without getting tied down with property and investments that can be used to hold you hostage.
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