Real Estate in
Costa Rica
Providing counsel and representation to serious foreign real estate buyers and sellers in Costa Rica.
Property Titles
In order to own land in Costa Rica, one must own an accopanining title. A common scam by sellers is the sale of property without this title. A buyer would then need to spend, at times years, sorting with the court system on other's claimes to the same title. Lawyers can quickly sort if a piece of property owns a title.
Step-by-Step Process
Cross Border Legal offers clients the full service of purchasing a home or property in Mexico, including, but not limited to:
•Performing the Necessary Due Diligence of the Development
•Suitability of the Development for the Client
•Review of the Purchasing Agreement
•Placing Any Purchases in Will
•Acquiring a Temporary/Permanent Visa.
Foreigners Buying Property
Unlike other countries, foreigners have the same rights when purchasing land or home in Costa Rica as locals do. However, buyer beware. There is no official licensing or registry of Real Estate Agents in Costa Rica. To avoid pitfalls, we recommend heavy due-diligence on all property purchases and owning those properties through a corporation. Not to worry, we can help with both.
Beach Front Property
The Costa Rican government has mandated the first (50) meters from the high tide line inward from the beach as public property. No permanent structure may be placed on this land.
In 1976, the Costa Rican government then required all exisiting property located (50) meters from the high tide line to be registered to the National Public Registery Offices. All properties privately owned were then given a title. All owners or builders of land (50) meters from the beach, that is not public property, must now own this title. These rare properties only represent 15% of the country's total beach front land.
(150) Meter Zone
In the majority of the country, the next (150) meters of land inward from the (50) meter coastal zone listed above is owned by the Costa Rican municipality. Properties within this zone can only be leased in the form of an official concession. In order for a foreigner to lease this land, a native Costa Rican must own more than 50% of the company that owns the holding. This is a common issue and can be solved through legal pathways and company creation.
Concession Leasing
Leasing a concession from the Costa Rican municipality is usually a one-time process that will automatically renew, assuming the leasee maintains good standing. In most cases, zoning and ecological restrictions will apply.
Property Near Protected Land
National Frontiers, or properties near officially protected land in Costa Rica, cannot be owned by any foriegn body, in any percentage. Only Costa Rican nationals may own property within 2 kilometers of this land.
Property Tax
Property Tax in Costa Rica is (0.25%) of the registered value of the property. The registered value of a home is something that can be negotiated with local governments. Note that new homes valued over $200k are subject to an additional 'luxury tax'.
TRUST
Highly talented lawyers, transparent through every step.
EXPERIENCE
Laws are different throughout the world. Connect with a lawyer familiar with the landscape.
