Costa Rica was recently placed first in Latin America and ninth in the world in respect to countries who offer commercial freedom and security for private business. The restriction on foreigners starting their own business in Costa Rica is not what you might expect. There are only a handful of bumps in the road to get yourself up in running in this central American paradise.
Once you’ve established you’re business plan you must take into credit that you need to know the local consumer market in order to get off the ground and stay afloat. The country’s consumers are mainly located in the central valley of San Jose with 60% of its population under 30 years of age. This is the market that you would want to focus on.
You may also ask yourself the question, do we want to target the tourist and upper class of Costa Rica? Many of the Upper class ticos have a pretty decent income and a much greater power to purchase high end imported products that the middle class would not. Just look at their expensive cars, designer clothes and luxurious home’s. These are all signs that there is money to be spent by the upper class.
Start up costs for small businesses are less than in the United States or Canada. Many of the same types of businesses that have been successful in the North America will work if researched correctly. There is definitely a need for these types of businesses. You just have to do your homework and explore the market. Be aware that not everything that works in the United States will work here. Also you may have to adapt your idea due to the vagaries of the local market and different purchasing power.
Always consult with an attorney for your permits and legal aspects to avoid any future troubles that will come washing up unannounced, and go at it with an open mind, let’s remember this is Costa Rica not Wall Street and we are their guests.