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THE CARIBBEAN BASIN RECOVERY ACT
In terms of the commercial relationships with countries
in the Caribbean Area, the U.S. Congress designed a plan of economic assistance ship for a selected group of countries known as Caribbean Basin Initiative -CBI. Costa Rica was chosen in the first group and many investors have already taken advantage of this program.
More than 3,800 products manufactured in Costa Rica are eligible for export tax exemptions to the U.S. within this framework.
On August 20, 1990 former U.S.A. President George Bush signed the 1990 Act, known as CBI 11. The CBI 11provides Costa Rica with trade and tax measures to promote economic revitalization and expanded investment programs permanently in which economic growth and regional diversity are involved.
The program offers additional advantages to businessmen so that foreign investors can have equal opportunities and incentives in Costa Rica as local businessmen. In this way, no matter if the investors come from the U.S.A., Europe, or the Far East, they can raise their productivity in the American market by producing in Costa Rica.
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