Quote from gimp570:
How is the internet connection?? I take it you are trading from down there? Cost of living is cheap.? Do you rent or own??
I trade (run a fund and the international department) for an institution down here...and have a personal account as well. sounds fancy...but it is a small company...really no big deal.
Cost of living CAN be cheap. Renting is cheap, but buying a house now adays is crazy, interest rates are also VERY high...10%+. I own...by default. My wife is Tica, and her father gave us a house. SUGAR MAMA! seriously....on cost of living..local items are cheap, labor is cheap, but imported products are VERY expensive. so, cars are expensive, and creature comforts are expesive. To live like a gringo here, 2000sq, ft, house, new cars, new furniture, insurance, good schools etc....you are going to pay close to gringo prices (not NY or CA...but maybe Tx prices).
To rent: decent...$500/mo...niceish $1000+ mansion $5000+
To own: double all of those.
interst rates:yuk 10% house 15% car 25+ credit card.
gas: $4.00 gallon.
cars and parts: double the cost in the states
Food: half the cost (except imported items like wine)
restaraunts/bars: half the cost or less
Sales tax: 13%
Income tax:15-30% (but easily deductible down to 15%)
Property tax :1%
Healthcare: great and free to cheap
private school:$200-$400 month
Maid:$100 for 2-3 times per week
Gardner: $300 month full time
Trading:...here is a secret...set up a CR or panamanian company to trade through with a CR or panamanian benficial owner...and the company only owes taxes on dividends. (w-8 foreign beneficial owner law) .My comissions arent cheap...but it pays off in the end.
I have a good setup becuse I am young, have a free house, paid cash for the cars, and have a cool job...but overall it is more a place for retirees or foreigners with a few bucks.