Moving To Costa Rica

Knowing Costa Rica

Costa Rica is a small country located in Central America, and has a territorial extension of 51.100.00 km2

Real Estate

Environment

Amazing Biodiversity

Despite our tiny land surface, 0.03% of the global territory, Costa Rica is home to 6% of the world's biodiversity

Migratory Categories

Real Estate

Invest in the Future

The social peace that reigns in Costa Rica makes it an ideal place to invest in the acquisition of property, since legal security is guaranteed.

Knowing Costa Rica

Migratory Categories

Live In Costa Rica

Our intention is to provide you with information,requirements and procedures to be followed in...

Invest In Real Estate

The social peace that reigns in Costa Rica makes it an ideal place to invest in the acquisition of property, since legal security is guaranteed.

Any individual or legal entity, national or foreigner, may be the holder of rights of ownership, use, enjoyment and enjoyment; rights that will be duly registered before the Real Estate Registry of the National Registry.

Depending on the type of investment being sought, it may be a relatively simple transaction or have a high degree of complexity.

In any of the cases, the most basic protection will always be to count with the advice of a Lawyer and Notary Public expert in the matter.

01

Title and Transfer of Ownership

In our country there are two main ways of transferring property for valuable consideration, the direct transfer or the Indirect Transfer.

In both cases, legal advice is fundamental and practically mandatory, since it will be necessary to hire the services of a Notary Public in order to register the transfer of the property before the Real Estate Registry of the National Registry, and/or to register the necessary changes in the social structure of the company whose shares/quotas were acquired, in order to guarantee the control over it.

Commonly, commercial companies, mainly limited liability companies or corporations, are used as owners of properties. This is for equity protection purposes.

02

Due Dilligence

In order to avoid a bad investment or disaster, and to ensure that the property to be acquired fulfills the purpose for which it is intended and has no contingencies, it is essential to carry out the so-called Due Diligence Process or "Due Diligence".

This is, in general terms, the process of investigation of the property, in order to discover possible hidden risks that may harm the interests of the buyer. When all the information is available, we proceed with the preparation of a formal and substantiated report, by means of which we will recommend or not the business of buying and selling the property.

03

Payment of Expenses and Fees

It is established by law that the buyer and seller share equally in the closing costs, but custom has dictated that it will normally be the buyer who bears the costs and fees of closing a real estate transaction.

04

Registration of the deed

Once all expenses have been paid, it will be the obligation of the Notary Public to file the deed of transfer with the Real Estate Registry of the National Registry. This is a process that can be done physically or electronically by means of digital signature.

05

Principal Obligations for Property Owners

What is the Real Estate Declaration?

The Real Estate Declaration refers to the determination of the value of the property, which takes into account the characteristics of the land and the constructions found within the property. This value in turn will serve as the taxable base for the calculation of the Real Estate Tax, once accepted by the Municipal Administration.

How often do I have to file the Statement?

Every property owner is required to file a property tax return at least every five years.

What happens if I do not declare ownership?

In case of omission, the Municipality may, ex officio, update the declared value. Municipalities may also correct the values declared voluntarily.

Real Estate Taxes

This is a tax created in favor of the Municipalities, and is payable by all owners or possessors of real estate. It is levied using as a base the declared value of the property and multiplying it by 0.25%. The result will be the annual tax to be paid by the specific property. Payments can be made annually or quarterly, starting on January 1 of the corresponding year. It is important to point out that there is a total or partial exemption that operates in favor of all individuals who own a single property with a maximum value of 45 base salaries. As of today, the base salary corresponds to the amount of ¢450,200.00. Properties with a higher value will pay on such excess. If you are a beneficiary of this exemption, you must go to the corresponding Municipality in order to apply for the benefit.

What are the consequences of not paying?

Real estate tax debts constitute a Legal Mortgage, which allows the Municipality to appear before the Court of Judicial Collection to enforce the debt. The base document is the Municipal Certification of the Debt.

Knowing Costa Rica

Amazing Biodiversity

Invest in the Future

Live In Costa Rica

What is the Real Estate Declaration?

How often do I have to file the Statement?

What happens if I do not declare ownership?

Real Estate Taxes

What are the consequences of not paying?

INVESTOR

PENSIONER

ANNUITANT

Knowing Costa Rica

Amazing Biodiversity

Invest in the Future

Live In Costa Rica

Knowing Costa Rica

About The Environment

Invest In Real Estate

01

Title and Transfer of Ownership

02

Due Dilligence

03

Payment of Expenses and Fees

04

Registration of the deed

05

Principal Obligations for Property Owners

What is the Real Estate Declaration?

How often do I have to file the Statement?

What happens if I do not declare ownership?

Real Estate Taxes

What are the consequences of not paying?

Main Migratory Categories

Previous terms to take into account:

Types of residences

Permanent residency:

Temporary residency:

Procedures and requirements for each service

To be taken into account

Main Categories of Residency

Who is eligible for permanent residency?

Additional requirements to the general requirements to obtain this residency

Who can opt for a temporary residency?

INVESTOR

PENSIONER

ANNUITANT

INCENTIVES

BENEFITS

INCOME TAX BENEFITS

BENEFITS RELATED TO THE IMPORT OF EQUIPMENT

DRIVING LICENSES

OPENING BANK ACCOUNTS

Relationship with Costa Rican spouse:

Executive, representative, manager, technical personnel and their dependents: