You’ll be happy to know that foreigners have the same rights when buying property / purchasing land in Costa Rica as locals do.  You can own property outright in your own name or in the name of your corporation.  The one exception that may apply is when the property is located in the Maritime Zone (first 200 m from the high tide line). This is also called “Concession Land” where special rules apply.

WHY PURCHASE A PROPERTY USING A CORPORATION?
There are a few reasons for this.

  • It may be more beneficial to have your income (from rentals) within a Costa Rican company rather than having it taxed as personal income.  Of course, this depends on the tax laws of the country from which you originate as well.
  • It allows for simplified estate planning.  You can give or will shares of the corporation that owns the property to members of your family. This step may avoid the lengthy probate process in Costa Rica.
  • It provides a level of anonymity if that is important to you.

LAND TITLE REGISTRY

Another important consideration for those buying property in Costa Rica is its land registry which allows your attorney to confirm that there is clear title to your property, as well as to determine if there are any restrictions on the property before the deal goes through.  Stewart Title provides title insurance and escrow services and is now available in Costa Rica.

PROPERTY TAXES IN COSTA RICA

Costa Rica’s very low property taxes make this a very appealing investment – 1/4 of 1% annually.  That means if you buy a condominium or home with an assessed value of $200,000 the property taxes per year would be $500 or a $100,000 2 bedroom/2bath condo would be $250.

CLOSING COSTS

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WHY WOULD SOMEONE INVEST IN COSTA RICA? 

Here are some of the reasons that our colleagues came up with.  I’m sure you’ll agree with most of them!

  • Great universal healthcare
  • High literacy rate
  • Good education system
  • First Class private healthcare system
  • Great infrastructure for Latin America with awesome internet connection, roads, airports, electric, water and phone service both cell and land lines.
  • Strong non-tourism based economy (2nd largest in Central America) with heavy emphasis on high tech, medical (supplies and pharmaceutical) and near sourcing.
  • Strong economic base in Agriculture and Tourism with award winning coffee, hotels and tour companies to name a few.
  • 25% of country is under National Park or Reserve protection.
  • Oldest democracy in Latin America.
  • First country to abolish its military.
  • 95% of Costa Rica’s energy is produced from renewable sources like hydro electric, wind and geo thermal
  • Only Country to have increased its forest coverage (100% in the last 20 years).
  • San Jose, Costa Rica was the second city in the world to have electric light after Paris.
  • Costa Rica is the 2nd country in the world to institute mandatory public education.
  • Costa Rica was rated the “Happiest Country in the World” by the Happy Planet Index 2012.
  • Good freedom of press and citizens have the constitutional right to bring any grievance in front of the court and have it be heard without huge fees or long waiting time.
  • Costa Rica feels like a throwback to Hawaii of the 1950s without all the suffocating laws of the US and Canada.
  • A simple lifestyle without all the hang ups we have manufactured in North America – political correctness does not run CR – yet!
  • No traffic jams as long as you stay out of San Jose.
  • Biggest little country in the world with wide variety of biodiversity and weather patterns from cool and spring-like to dry and sunny.
  • You can walk down the street with a beer in your hand and nobody puts you in jail.
  • Simplicity is bliss – A good horse, a cold beer, a good conversation and PURA VIDA! No need for material goods or Facebook.
  • Perfect is not an option and everyone is OK with that
  • Costa Ricans greet tourists and each other alike with the same genuine openness, acceptance and joy to see you.
  • Where nature still holds an important place.
  • Today is the generation of change.
  • Where you can still enjoy traditions of the past in the present.
  • Costa Rica is the bridge to adventure.
  • Where you can trade a smile for a world of stress.
  • Where our arms are always spread wide to help.
  • We are teaching our children how to protect the environment through recycling.
  • Pura Vida literally means Pure Life but really means a Pure Lifestyle that leads to happiness, overall well being and longevity.
  • Probably the single biggest reason why experts have found one of the few “Blue Zones” in Costa Rica is due to the “Pura Vida” people are living.
  • There is an intangible feeling you get when entering Costa Rica – that no other country in Latin America has – where you can physically feel the freedom and positve sentiment around you.
  • Costa Rica invented Eco Tourism and continues to lead the world in innovative vacation experiences.

Investing in Costa Rica

You’ll be happy to know that foreigners have the same rights when buying property / purchasing land in Costa Rica as locals do.  You can own property outright in your own name or in the name of your corporation.  The one exception that may apply is when the property is located in the Maritime Zone (first 200 m from the high tide line). This is also called “Concession Land” where special rules apply.

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Quick guide to buying property in Costa Rica

You’ll be happy to know that foreigners have the same rights when buying property / purchasing land in Costa Rica as locals do.  You can own property outright in your own name or in the name of your corporation.  The one exception that may apply is when the property is located in the Maritime Zone (first 200 m from the high tide line). This is also called “Concession Land” where special rules apply.

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