Costa Rica

Last Update by Katie, 20 Aug 2024

You must log in to be able to download this document

Exchange Rate

18 Sep 2024

 

Cost of Living

Indicative value for a working adult in a city: San Jose

Publicly available data (Numbeo, etc..), verified by Marco’s in-country staff

Living Requirement Indicative Amount (CRC)
McDonalds Set Meal 2,772
Monthly Train and Bus Tickets 18,675
3 Bedrooms Rental (City Center) 636,173
3 Bedrooms Rental (Outskirt) 454,139

Current Inflation Rate

2.31%

Wage

Minimum Wages

  • Daily:
    - Unqualified 11,953.65 CRC
    - Semi-Qualified 12,998.72 CRC
    - Certified 13,448.72 CRC
    - Specialised 15,613.91

  • Monthly:
    - Unqualified 385,609.50 CRC
    - Semi-Qualified 389,961.60 CRC
    - Certified 422,798.93 CRC
    - Specialised 521,053.17 CRC

Median Salary

Estimated based on general positions such as HR, Accounting, Admin roles, in tier one cities.

Job Level Monthly Salary (CRC)
Entry-Level
Fresh Graduate
 949,000
Mid-Level
5 Years
 2,270,000
Experienced & Managerial Level
10 Years
 3,000,000
Specialized & Senior-Level
15 Years
 3,860,000

Annual Salary Growth

6%

Statutory Contribution

Country Level

Type Employer Rates Employee Rates Notes
Health and Maternity (SEM) 9.25% 5.50% All staff
Banco Popular Fee 0.25% 1.00% All staff
Basic Pension Scheme (IBM) 5.42% - All staff
Disability, Old Age and Death Benefits (IVM) - 4.17% All staff
Contribution to Banco Popular (Employer only) 0.25% - All staff
Family Allowance 5.00% - All staff
Mixed Institute for Social Assistance (IMAS) 0.50% - All staff
Training Fund (INA) 1.50% - All staff
Labour Capitalisation Fund 1.50% - All staff
Complementary Pension Fund‎ 2.00% - All staff
National Insurance Institute (INS) 1.00% - All staff
Year-End Bonus (Aguinaldo): 1 Month salary paid in December
Average pay from last December to following November 		All staff

Other Benefit

Other common employment benefits in Costa Rica include:

  • Cell Phone Allowances: Up to 43,000 CRC per month
  • Internet Allowances Around 25,000 CRC per month

Income Tax

Residents

  • Tax period: 1st January - 31st December
    Filing Due Date: October the following year

Country Level

Taxable Income Rate
Up to 929,000 0%
929,000 -1,363,000 10%
1,363,000 - 2,392,000 15%
2,392,000 - 4,783,000 20%
Over 4,783,000 25%

Non-residents

  • Non-residents are taxed on income from Costa Rican sources

Working Hours

Statutory

48 hours
8 hours a day, 6 days a week

Typical practice

48 Hours
Monday - Saturday

Day Shift: 05:00 - 19:00
Night Shift 07:00-17:00: 42 Hours a week 7 hours a day, 6 days a week

Overtime

  • After standard daily hours: 1.5 * base salary
  • Holidays and Sunday: 2* base salary

Employment Contract

Fixed-Term

For occasional, seasonal activities and piece work

Contract Format

Can be verbal or written in Spanish or English. Written contracts must be signed by both parties and issued within a month of the employment start date

Payroll Currency

CRC, USD accepted

Probation

Up to 3 months

Contract Period

Up to 1 year and up to 5 years if staff are required to undergo special technical training

Termination

  • Notice during probation:
    - None required
  • Voluntary Resignation and Involuntary Termination:
    - 0-3 months service: No notice
    - 3-6 months service: 1 week
    - 6 months-1 year service: 15 days
    - Over 1 year service: 1 month
  • Severance:
    - Applies to all staff for dismissal without cause
    - 3 - 6 months' service: 7 days salary
    - 6 months - over 1 year service: 14 days salary
    - 1 year service: 19.5 days' salary per year worked
    - 2 years service: 20 days' salary per year worked
    - 3 years' service: 20.5 days' salary per year worked
    - 4 years' service: 21 days' salary per year worked
    - 5 years' service: 21.24 days' salary per year worked
    - 6 years' service: 21.5 days' salary per year worked
    - 7, 8 and 9 years' service: 22 days' salary per year worked
    - Salary is an average of the previous 6 months and capped at 8 years' service

Public Holiday

9 days

Leave

Leave Type Entitlement Notes
Annual Leave 12 days per year All staff with 50 weeks continuous service
Sick Leave 3 working days All staff with 1 month social security contributions
Maternity Leave 4 months -1 month before birth, 3 months after
45 days for abortions 		All expectant mothers
Paternity Leave 8 working days
2 working days per week, for 4 weeks after birth 		All biological fathers
Adoption Leave 3 months for 1 parent
1.5 months if leave is shared 		All staff with proof of adoption

Reference

Ready To Expand in Costa Rica?

Have any questions? We’d love to hear from you

Contact Us