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| banking https://forum.costaricaticas.com/viewtopic.php?f=20&t=21971 |
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| Author: | Cariden [ Sat Feb 23, 2008 5:08 pm ] |
| Post subject: | banking |
are there any banks in usa that have branches in cr? so i can deposit money in usa and have it "count" towards the money need for the rentista visa? and do the banks in cr have deposit insurance like the us banks do?? do banks fail in cr?? or is that just an american thing? thanks just beginning to get ideas about getting away from snow snow and more snow... |
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| Author: | Elusive1 [ Sat Feb 23, 2008 5:29 pm ] |
| Post subject: | Re: banking |
Cariden wrote: are there any banks in usa that have branches in cr? so i can deposit money in usa and have it "count" towards the money need for the rentista visa? and do the banks in cr have deposit insurance like the us banks do??
do banks fail in cr?? or is that just an american thing? thanks just beginning to get ideas about getting away from snow snow and more snow... No No No Yes they fail |
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| Author: | Irish Drifter [ Sat Feb 23, 2008 5:40 pm ] |
| Post subject: | |
There are no US banks with branches in Costa Rica at this time. I am not sure how the implementation of CAFTA will effect that. Yes banks fail. Supposedly the government backs the national banks but I would not depend on that. The conventional wisdom is that a private bank such as Scotia Bank which is a Costa Rican bank supposedly completely separate from Bank of Nova Scotia in Canada would be bailed out by the parent company rather than let there good name be tarnished. True or wishful thinking? Hopefully we will never have reason to put that to the test. Rentista funds due not have to be in a Costa Rican bank. There are ways to have the funds in United States institutions. Check with a qualified immigration attorney for details. |
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| Author: | Counte Dante [ Mon Feb 25, 2008 4:51 pm ] |
| Post subject: | |
HSBC is in Costa Rica. It is headquartered in London, but has branches in the U.S. Many of the banks in the U.S. are actually owned by international banks. |
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| Author: | Osogrande [ Tue Feb 26, 2008 11:18 am ] |
| Post subject: | |
To follow up on Irish Drifter's comment, CAFTA will open the market for financial services. The specific obligations are in Chapter 12, but essentially a US bank will be extended "national treatment" in any CAFTA member economy. Once the market is open, the issue of whether a US bank will operate in Costa Rica becomes a commercial matter, i.e., whether there a business case for profitable operation of a US affiliate under Costa Rican banking law and regulation. Osogrande You can't buy happiness, but you can rent it. |
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