F.A.Q.S

Costa Rica Real Estate


1 - Do I need a Costa Rican partner to own Property?

No. Foreigners in Costa Rica can own property in their own names. Purchasing property through a new or existing corporation (Sociedad Anomina or S.A.) is also very popular. Special rules for foreigners apply in Maritime Zones (Link to Maritime Zone info) for concession property.

2 - How do I know if a property is titled?

All property in Costa Rica should be registered in the Public Registry, whether the property is fee simple or concession. Your attorney will be able to confirm that the seller possesses ownership of the property, and to determine if there are any restrictions, encumbrances or liens. Avoiding the purchase of unregistered property is strongly advised.

3 - How much are property taxes?

Property taxes in Costa Rica are very low, only .25 % of the registered property value.

4 - How much are closing costs?

Closing costs are approximately 3.5 % of the declared value of a property. About 2.25% goes to the government in the form of stamps and taxes. About 1.25% goes to your attorney. In private sales between an individual Buyer and Seller, closing costs are often split equally. When purchasing from a large project, the Buyer often pays all the costs.

5 - Will I need a Lawyer or Notary?

Yes. We strongly recommend that you have your own representation in any transaction. The closing costs as noted above include the fees for your attorney.

6 - Can I get financing?

If you need to borrow funds, it is generally far simpler and interest rates are much lower in your home country. If your credit rating is exceptional, you may be eligible for financing through institutions such as the Scotia Bank and Stewart Title. Ask if there is any owner financing available.

7 - Is there Title Insurance?

Title insurance and escrow services are available through recognized companies such as Stewart Title and First Costa Rican Title Company. The fees for services are generally 1% or less.

8 - Should I be concerned about squatters?

Although Costa Rica has laws to protect locals who have lived and cared for a property for many years, also known as squatters rights, squatting is extremely rare in developed areas of the country. If you plan to purchase in a very remote area, it is advisable to have a caretaker check the property regularly to ensure that nobody unauthorized is living there.
 

Costa Rica General

9 - Do I need a passport to enter Costa Rica?

A valid passport is mandatory in Costa Rica. Make sure you have at least six months before the passport expires.

11 - Do I need a visa to enter Costa Rica?

That depends on your country of origin. The U.S.A, Canada and most European countries do not need a Visa.

12 - Will I be permitted entry into Costa Rica with a one way ticket?

All visitors are required to have a round trip ticket.

13 - What do I need to rent a car and drive in Costa Rica?

Your valid drivers license will allow you to drive for three months. You will need a valid drivers license and credit card to rent a car.

14 - Can I get married in Costa Rica? What documents will I need?

Costa Rica allows foreigners to marry in Costa Rica. The needed documents are: original documents of single status, valid passport, police record, divorce decree (if applicable).

15 - Can I drink the water in Costa Rica?

Please inquire about your area, but in the vast majority of the country the water is potable. .

16 - What currency is used in Costa Rica?

The currency is called Colon (Link to Currency Converter). Major credit cards and U. S. dollars are used almost everywhere.

17 - Which major credit cards are accepted in Costa Rica?

All of the major credit cards are widely accepted. ATM machines are distributed throughout the country, particularly in larger cities and coastal resort towns.

18 - Is it necessary to be inoculated to visit Costa Rica?

It is not necessary to be vaccinated before entering Costa Rica.

19 - Do I need an adapter for my iron and hair dryer?

Electrical outlets are 110 V, with a standard two prong plugs.

20 - Can I bring my Cat and Dog?

When your pet enters Costa Rica they must have a health certificate issued by a licenced endorsed veterinanrian serive (VS) veterianarian. Two weeks prior to traveling the required distemper, hepatitis, lestospiroisi, parvovirus and rabies. Please check with your vet. .

21 - What is the cost of the the departure tax?

The departure tax is $26.00 and can be paid in U.S. dollars, credit cards or colones.

22 - Can I get a work visa?

To obtain a work permit you must apply at the Costarican Consulate.

24 - What are the domestic airlines in the Country and where do they go?

Nature Air, Sansa and Paradise Air. Small airports are located throughout Costa Rica in all your favorite locations, such as Tamarindo.

25 - Where can I see the large leatherback turtles that Costa Rica is renowned for?

If you are staying in Tamarindo there are tours to Playa Grande's Las Baulas National Park. Contact our Re/max office for further information or to book a tour.

26 - What countries border Costa Rica?

To the North we have Nicaragua, to the South Panama, to the East the Caribbean Sea and to the West the Pacific Ocean.